Automotive Airbags Market Overview
The Automotive Airbags Market Size is expected to reach USD 107.65 Billion by 2033. The Automotive Airbags Market industry size accounted for USD 50.14 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 8.41% from 2023 to 2033. The Automotive Airbags Market refers to the global market for airbags designed for use in vehicles to enhance passenger safety in the event of a collision. Airbags are crucial components in automotive safety systems, rapidly inflating upon impact to cushion and protect occupants from severe injuries.
The Automotive Airbags Market is expected to grow steadily, driven by the increasing emphasis on vehicle safety, technological advancements, and rising automotive production and sales globally.
Global Automotive Airbags Market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic significantly impacted the Automotive Airbags Market. The pandemic caused disruptions in the global supply chain, leading to shortages of essential components and raw materials used in airbag manufacturing. Lockdowns and restrictions led to temporary shutdowns of manufacturing plants, causing delays in production and delivery schedules. Automakers reduced production volumes due to decreased demand, leading to reduced orders for airbag systems. Social distancing measures and health concerns limited workforce availability, affecting the production capacity of airbag manufacturers. The pandemic led to increased consumer awareness about safety, including vehicle safety features like airbags. The pandemic accelerated the adoption of advanced technologies, including smart airbags and enhanced sensor systems, as manufacturers focused on innovation to stay competitive. The pandemic highlighted the importance of safety, leading to increased investment in automotive safety features, including advanced airbag systems.
Automotive Airbags Market Dynamics
The major factors that have impacted the growth of Automotive Airbags Market are as follows:
Drivers:
Ø Increasing Consumer Awareness
Growing awareness among consumers about vehicle safety features is driving the demand for airbags. Consumers are increasingly prioritizing safety when purchasing vehicles, influencing automakers to equip their models with advanced airbag systems. The widespread availability of information and increased media coverage on vehicle safety contribute to heightened consumer awareness. The global automotive industry has been experiencing steady growth, particularly in emerging markets. Increased vehicle production and sales directly boost the demand for automotive airbags. Continuous advancements in airbag technology, such as smart airbags, multi-stage airbags, and advanced sensors, enhance the effectiveness and reliability of airbags, making them more attractive to consumers and manufacturers. The integration of airbags with ADAS and other safety technologies improves overall vehicle safety, driving their adoption.
Restraint:
- Perception of Cost and Affordability
Advanced airbag systems can significantly increase the overall cost of a vehicle. This cost is often passed on to consumers, potentially reducing affordability, particularly in price-sensitive markets. Economic downturns or recessions can reduce consumer spending power, affecting the demand for vehicles equipped with advanced airbag systems. The automotive airbags market is highly dependent on a complex global supply chain for components and materials. Disruptions, such as natural disasters, trade tensions, or pandemics (as seen with COVID-19), can impact production and delivery schedules. Delays in component deliveries and logistics can affect manufacturing timelines and increase costs.
Opportunity:
⮚     Growing demand for Electric Vehicles (EVs)
The rise of electric vehicles presents a significant opportunity for airbag manufacturers to develop specialized airbag systems that meet the unique safety requirements of EVs. Designing airbags that are compatible with the unique structural characteristics of electric vehicles can set manufacturers apart in this rapidly growing market. The development and deployment of autonomous vehicles present new opportunities for airbag systems designed to enhance safety in self-driving vehicles. Increasing focus on sustainability is driving demand for airbag systems made from eco-friendly materials and manufactured using environmentally responsible processes. Developing recyclable airbag components and ensuring proper end-of-life disposal can create opportunities for companies to differentiate themselves in the market.
Automotive Airbags Market Segment Overview
By Product Type
Based on Product Type, the market is segmented based on Front Airbag, Knee Airbag, Curtain Airbag and Side Airbag. The front airbag segment dominant the market. Airbags, including front-center, side-impact, and knee airbags, are designed to deploy from various areas of a vehicle during collisions, such as steering wheels and dashboards. These help reduce injuries to the head, chest, and upper body in front-impact crash situations. The Electronics segment plays a significant role in the development and deployment of advanced technologies. Concept airbags, like those for e-scooters, are also under research and development to ensure mobility safety solutions for all types of road users.
By Module
Based on Module, the market segment has been divided into the Gas Generator and Air Bag. The Air Bag segment dominant the market.
Global Automotive Airbags Market Regional Analysis
Based on region, the global Automotive Airbags Market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Automotive Airbags Market followed by the Asia-Pacific and Europe regions.
Automotive Airbags North America Market
North America holds a dominant position in the Automotive Airbags Market. North America is a mature market for automotive airbags, driven by stringent safety regulations and a high level of consumer awareness regarding vehicle safety. The region is at the forefront of adopting advanced airbag technologies, including multi-stage and sensor-based systems. Regulations like those from NHTSA in the US and Transport Canada mandate the installation of airbags in vehicles, ensuring a steady demand. There is ongoing opportunity for innovation in safety systems, including integration with ADAS and development of smart airbags.
Automotive Airbags Asia-Pacific Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Automotive Airbags Market industry. Asia-Pacific is a rapidly growing market for automotive airbags, driven by increasing vehicle production and sales in countries like China, India, and Japan. Increasing adoption of advanced safety features, including airbags integrated with ADAS, presents growth opportunities. Expansion into emerging markets, localization of production, and innovation in cost-effective airbag solutions.
Competitive Landscape
The global Automotive Airbags Market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.
Prominent Players:
- Autoliv
- Delphi Automotive
- Takata Corporation
- TRW Automotive
- Robert Bosch
- Denso Corporation
- Toyoda Gosei Corporation
- Key Safety Systems
- Neaton Auto Products Manufacturing Incorporation
- Continental
Key Development
In November 2021, Autoliv Inc., a supplier of automotive safety systems, and SSAB, a global steel manufacturer, began collaborating to research and create fossil-free steel components for automotive safety applications such as airbags and seat belts.
In February 2022, Nuro, a leading autonomous vehicle business, and Autoliv, Inc., a leader in automotive safety systems, are collaborating to ensure high safety standards for Nuro’s new third-generation production-grade autonomous delivery vehicles.
Scope of the Report
Global Automotive Airbags Market, by Product Type
- Front Airbag
- Knee Airbag
- Curtain Airbag
- Side Airbag
Global Automotive Airbags Market, by Module
- Gas Generator
- Air Bag
Global Automotive Airbags Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: $107.65 Billion |
| CAGR | 8.41% CAGR (2023-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Product Type, Module |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | Autoliv, Delphi Automotive, Takata Corporation, TRW Automotive, Robert Bosch, Denso Corporation, Toyoda Gosei Corporation, Key Safety Systems, Neaton Auto Products Manufacturing Incorporation and Continental |
| Key Market Opportunities | • Growing demand for Electric Vehicles (EVs) • Sustainable Materials and Manufacturing |
| Key Market Drivers | • Increasing Consumer Awareness • Technological Advancements |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Automotive Airbags Market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Automotive Airbags Market historical market size for the year 2021, and forecast from 2023 to 2033
- Automotive Airbags Market share analysis at each product level
- Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Automotive Airbags Market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
