Airbag Market

Market Overview:

The global airbag market size reached US$ 29.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 48.1 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.

Airbags are designed to inflate and deflate promptly and protect occupants during a collision. They receive signals from sensors when the vehicle is suddenly deaccelerated to slow down the passenger’s forward motion. They assist in minimizing the impact of a collision and reduce driver fatalities and serious head injuries in frontal crashes. Nowadays, leading manufacturers are introducing vehicles with side airbags (SABs) to reduce serious chest injuries in side-impact collisions. They are also offering side-curtain and knee airbags to significantly reduce the risk of injuries on the knees, thighs, and hips.

Airbag Market Trends:

A significant rise in the sales of passenger vehicles around the world on account of inflating income levels and rapid urbanization represents one of the primary factors influencing the demand for airbags. Moreover, according to the World Health Organization, around 1.3 million people die every year due to road traffic injuries. As a result, governing agencies of numerous countries are mandating the installation of airbags in vehicles. Besides this, the increasing awareness among individuals about vehicle safety is also contributing to the market growth. Furthermore, several automotive manufacturers are focusing on installing heavy-duty trucks with airbags to improve the safety of truck drivers. The escalating use of commercial trucks to transport cargo, from food to heavy machinery, is also impelling the growth of the market. Apart from this, the leading market players are developing advanced airbags, such as a front center for far-side impact collisions and using durable and highly engineered textiles to expand their consumer base. They are also introducing inflators that meet stringent government regulations and customer requirements worldwide, which is creating a favorable market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global airbag market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, module, vehicle type and sales channel.

Breakup by Type:

• Frontal Airbag
• Knee Airbag
• Side Airbag
• Curtain Airbag
• Others
   

Breakup by Module:

• Inflator or Gas Generator
• Air Bag
• Crash Sensors
   

Breakup by Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle
   

Breakup by Sales Channel:

• Original Equipment Manufacturers
• Aftermarkets
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Autoliv Inc., Continental AG, Daicel Corporation, DENSO Corporation, Hyundai Motor Group, Joyson Safety Systems (Ningbo Joyson Electronic Corp.), Neaton Auto Products Manufacturing Inc. (Nihon Plast Co. Ltd.), Robert Bosch GmbH, TOYODA GOSEI Co. Ltd. and ZF Friedrichshafen AG.

Report Coverage:

Key Questions Answered in This Report:

• How has the global airbag market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global airbag market?
• What are the key regional markets?
• What is the breakup of the market based on the type?
• What is the breakup of the market based on the module?
• What is the breakup of the market based on the vehicle type?
• What is the breakup of the market based on the sales channel?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global airbag market and who are the key players?
• What is the degree of competition in the industry?