Pune, India, Oct. 30, 2023 (GLOBE NEWSWIRE) — According to The Insight Partners, “Automotive Airbag ECU Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Standard and Premium), Airbag Type (Frontal Airbag ECU and Curtain Airbag ECU), Vehicle Type (Passenger Vehicles and Commercial Vehicles), and Geography,” the market is expected to grow from US$ 6.22 billion in 2021 to US$ 7.86 billion by 2028; it is estimated to grow at a CAGR of 3.78% from 2022 to 2028.
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Airbags protect occupants from hitting the interior and exterior of vehicles during collisions. The US Federal government has compelled automakers to install airbags for driver and passenger seats in cars, vans, and light trucks to protect the occupants against frontal impact. The Automotive Airbag ECU market is mainly driven by stringent safety regulations regarding the incorporation of airbags in all passenger and light commercial vehicles. In the European Union (EU), the updated UNECE regulations on airbags and seatbelts have mandated seatbelt reminder systems in all front and rear seats on new cars from September 2019. Further, many local and federal governments have announced consumer incentives for EV purchases as a part of their stimulus programs designed to relax the economic impact caused by the pandemic. In China, the purchase-price subsidy ranges from US$ 2,350 to US$ 3,265 for a car. In Germany, purchase-price subsidies for new EVs can be more than US$10,000 per vehicle. The subsidies are projected to attract consumers to buy electric passenger cars and vehicles, which would increase the demand for airbag ECUs during the forecast period.
Although passenger cars are the major end users of Automotive Airbag ECUs, demand for airbag ECUs would surge largely in commercial vehicles in the coming years. Kia Motors, Tesla, Honda, and BMW are a few of the prominent consumers of airbag ECUs.
Global Automotive Airbag ECU Market Scope:
| Market Size Value in | USD 6.22 Billion in 2021 |
| Market Size Value by | USD 7.86 Billion by 2028 |
| Growth rate | CAGR of 3.78% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Segments covered | Product Type, Airbag Type, Vehicle Type |
| Regional scope | North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. |
| Country scope | Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Automotive Airbag ECU Market: Competitive Landscape and Key Developments
Continental AG, Robert Bosch GmbH, Denso Corporation, Autoliv, and Aptiv Plc. are among the key players in the Automotive Airbag ECU market. Leading companies are focusing on expanding and diversifying their market presence and acquiring a new customer base, thereby tapping prevailing business opportunities.
In 2020, Veoneer Inc. was selected as a supplier of forward-looking stereo cameras, ADAS ECUS, and corner radars for the Mercedes-Benz GLE SUV Model’s Driving Assistance Package and the Driving Assistance Package Plus. This development has enhanced the reputation and brand image of Veoneer Inc. as a world-class automotive technology provider.
In 2022, Autoliv announced its collaboration with Nuro, an autonomous vehicle company, for providing exterior airbags with higher safety features for implementation in Nuro’s latest third-generation vehicles.
Automotive Airbag ECU Market: Vehicle Type Overview
Based on vehicle Type, the Automotive Airbag ECU market is bifurcated into passenger vehicles and commercial vehicles. The passenger vehicles segment is expected to dominate the market during the forecast period. In countries such as China and India, high population is a direct measure of increase in passenger car sales. A rise in the production of passenger vehicles across countries and consistent growth in automotive industry are boosting the demand for Automotive Airbag ECUs in this segment.
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Technological Advancements in Airbag ECUs Paving Way for Growth of Automotive Airbag ECU Market.
With the rapid expansion of end user preferences across the globe, manufacturers in the automotive sector are primarily focusing on enhancing fuel and cost efficiencies, driving experience, and overall passenger and driver safety. Airbag control units (ACU) play a central role in the new E/E (electrical/electronic) architecture and adopt functions that provide more protection for occupants. Control units provide the highest crash safety standards and reliable airbag deployment. Apart from sensors, ECUs receive signals from pressure satellites, which detect and report the pressure wave of a collision. Advancements in airbag and ECUs technologies are enabling their adoption across passenger vehicles. Continental AG offers ECUs converted into software-based products in reorganizing the E/E architecture with centralization and a few high-performance computers.
Computer-operated dual airbags or dual-stage airbags are deployed at two vehicle speed limits. In less severe accidents, airbags are deployed in a lower, first stage, as compared to more severe accidents, where they are deployed at both stages. Further, side airbags effectively protect drivers and passengers from crucial head injuries caused by side-impact collisions. In September 2019, Hyundai Mobis developed a “Safety Integrated Control Module” that ensures greater efficiency and safety in the operations of automotive safety devices. The new product combines two separate ECUs for airbags and electronic seatbelts into a single unit. Thus, adoption of latest technologies is attributed to drive the Automotive Airbag ECU market.
Impact of COVID-19 Pandemic on Automotive Airbag ECU Market
In 2019, economic uncertainties associated with political events, such as the US–China trade war and Brexit, led to a slowdown in the global economy. Moreover, import duties on raw materials, electronic components, and other semiconductor chip elements affected the automotive business, which slowed the growth of Automotive Airbag ECU market. Further, social restrictions imposed by various governments during the COVID-19 pandemic significantly hampered supply chains, raw materials availability, and electronic & semiconductors industry performance. However, in 2021, as the lockdown restrictions were eased, the global automotive market started gaining momentum with the reopening of production facilities.
Automotive companies are willing to make investments in making mobility smarter, which helped the airbag ECU market to continue growing despite the negative effects of the COVID-19 pandemic on economies. Incorporating emerging technologies such as artificial intelligence (AI) and 5G telecommunications into vehicles is expected to favor the growth of the Automotive Airbag ECU market in the coming years. Airbag ECUs need to have a fast signal-processing ability during road accidents. As automobile companies continue to cope with the long-term effects of economic turmoil caused by the pandemic, they emphasize on making investments that can generate significant returns over the short term.
Go through further research published by The Insight Partners:
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