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Automotive Airbag Market Revenue (2017–2021) US$ 115,383.2 Mn, Higher For (2022–2026) US$ 181,694.9 Mn

Airbags are made up of a flexible fabric cushion, which inflate when the vehicle collides, and protect passengers from striking the dashboard, steering wheel, window, or other parts of car. Modern vehicle airbags are deployed with advanced sensors that activate the airbag depending upon the intensity of collision and are placed in front and side part of the vehicle.

The first five-year (2017–2021) cumulative revenue is projected to be US$ 115,383.2 Mn, and is expected to increase considerably to US$ 181,694.9 Mn, over the latter part of the five-year forecast period (2022-2026). The global automotive airbag market is estimated to value US$ 19,243.2 Mn in 2017, and is projected to register a CAGR of over 9% in terms of value during forecast period 2017–2026.

Increasing incidence of road accident deaths due to vehicle collisions and crashes, has led to an increasing demand for automotive safety systems, among which automotive airbag system is an essential component, which is a key factor driving growth of the global automotive airbag market. In addition, strict safety regulations imposed by government across the globe is another factor driving growth of the target market. Deployment of pedestrian airbags in some vehicles to protect individuals when they hit or collide with a vehicle, is also expected to further drive growth of the target market to a significant extent over the forecast period.

A major factor hampering growth of the global automotive airbag market is high replacement cost of airbags. Despite being a safety device, there are chances of airbag system failures, which may lead to death or severe injury to passengers, which is also expected to impede growth of the global market to a certain extent.

However, development of cost-effective airbag systems coupled with advancement in sensor technology are factors expected to create lucrative opportunities for major manufacturers operating in the global market over the forecast period. Moreover, major manufacturers are providing pre-installed airbag system in passenger cars, owing to mandatory government car and passenger safety regulations.

The global automotive airbag market is segmented on the basis of product type, sales channel, vehicle type, and region. On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Global Automotive Airbag Market: Segmental Snapshot

The market report has been segmented on the basis of product type, sales channel, vehicle type, and region. The product type segment includes front airbag, side airbag, curtain airbag, and others. Sales channel segment includes original equipment manufacturer (OEM) and aftermarket. Vehicle type segment includes passenger cars and commercial vehicles. The regions covered in the market analysis are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By product type: The front airbag segment is estimated to register a CAGR of over 9%, thereby accounting for highest revenue share among the product type segments, over the forecast period.

By sales channel: The original equipment manufacturer (OEM) segment is estimated to account for highest revenue share among the sales channel segments, and is expected to register a CAGR of over 9% over the forecast period.

By vehicle type: The passenger cars segment is estimated to account for highest revenue share among the vehicle type segments, and is expected to register highest CAGR over the next 10 years.

By region: The market in Asia Pacific accounted for highest revenue share in the global automotive airbag market in 2016, and is expected to record highest CAGR between 2017 and 2026.

North America is expected to dominate the target market in terms of revenue, and is expected to account for highest revenue share by 2026. This can be attributed to presence of major airbag safety systems manufacturers and stringent government safety regulations in the region, especially in the US. The market in Asia Pacific is expected to register highest CAGR in terms of revenue during the forecast period.

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North America market accounted for highest market share of over 20% in 2017 in the global automotive airbag market in terms of revenue, and is expected to continue its dominance over the forecast period, owing to stringent government safety regulations, especially in the US. The market in Europe is expected to witness considerable growth owing to presence of major automakers in countries in this region. The market in Asia Pacific is expected to witness significant growth, and is expected to register a CAGR over 9.5% over next 10 years, owing to increasing awareness regarding automotive safety systems, and increasing adoption of airbag system in mid-sized and passenger cars.

Key players in the global market include Autoliv Inc., Takata Corporation, DENSO CORPORATION, Robert Bosch GmbH, Daicel Corporation, TOYODA GOSEI Co., Porcher Industries SA, ZF Friedrichshafen AG, Continental AG, Key Safety Systems, Inc., Hyundai Mobis Co., Ltd., and other prominent players.


Updated : 2021-12-09 01:07 GMT+08:00