"Market Intelligence for High-Geared Performance"

Automotive Airbags Market Size, Share & COVID-19 Impact Analysis, By Application (Knee, Side, Front, Curtain), By Vehicle Type (Passenger Car, Commercial Vehicle) and Regional Forecast, 2020-2027

Region : Global | Format: PDF | Report ID: FBI101699

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The global automotive airbags market size was USD 9.67 billion in 2019 and is projected to reach USD 20.13 billion by 2027, exhibiting a CAGR of 9.6% during the forecast period.

COVID-19 Cover

This report covers COVID-19 impact analysis on Automotive Airbags Market

Request Sample

According to a study conducted by the World Health Organization (WHO) in 2018, 1.4 million people globally die per year in road accidents. Additionally, 20-50 million people suffer from fatal injuries caused by road accidents. This phenomenon is not only causing human suffering but is also affecting about 3% of GDP drop in some countries. The World Health Organization (WHO) has launched an objective to cut fatalities into half by 2030. Therefore, many countries are implementing stringent safety regulations for driver and pedestrian safety and also urging OEMs to install airbags in passenger cars and commercial vehicles. Additionally, the Global New Car Assessment Program (NCAP) is also supporting the adoption of safety restraint systems in vehicles for decreasing road accidents and severe injuries.


Impact of COVID-19 Pandemic on the Market


Numerous regions continue to remain weak owing to their limited capacity to manage additional outbreaks of the COVID-19. Irregular and sudden lockdowns being reintroduced in various countries have negatively impacted the business. This has further impeded automaker's revenue generation. However, in Asian countries, leading automakers Hyundai and Maruti Suzuki are witnessing a steady recovery in automobile production and consignments since the unlocking. For instance, the sale of Hyundai in June was 21000 units and has been doubled in July to 42000 in India.


There is a massive fall in the market. For example, Autoliv, one of the largest makers of airbags announced "unprecedented" challenges in the second quarter after European and North American markets reached the threshold in April owing to the pandemic.


The government of the US is focusing on certain mutual surpluses as well as cumulative surpluses, missing the basic point that current account and combined trade surpluses in an economy is the outcome of core macroeconomic imbalances between investment and collective domestic savings which are improbable to be affected by trade actions alone. Protectionist actions by the US government against Chinese imports have led to imports from alternative sources among various other nations. The very recent drops in the US’ overall trade shortfall reflect changes in global trade, precisely affected by the COVID-19 outbreak.


LATEST TRENDS


Request a Free sample to learn more about this report.


Leading Bodies Across the Globe Have Actively Endorsed the Use of Airbags


The increasing technological advancements in automotive airbags, such as pedestrian airbags, external airbags, rear-seat airbags, and roof airbags are also expected to drive the market growth during the forecast period. The National Highway Traffic Safety Administration anticipated that airbags with a combination of seat belts lower the risk of severe head injury by about 80%, compared with a 60% reduction for seat belts only. However, the implementation of airbags in vehicles is not compulsory in some countries and this may affect the demand for airbags in those regions.


DRIVING FACTORS


Increasing Consumer Awareness Regarding Safety to Drive Market


The severe fatalities to the human body caused by road accidents have led to high awareness among the consumers. The rising awareness among the general population is one of the key market trends that will boost growth during the forecast period. The increasing disposable income has also led the consumers to spend more on safety features. The increasing consumer spending on pre-installed safety systems in v3


ehicles has resulted in higher investment opportunities for prominent players. The inclusion of the active and passive safety systems in automobiles also offers better comfort and driving experience to the end-users, which further accelerates the growth in the market.


Stringent Government Regulations for Passenger Safety to Propel Market


The increasing number of road accidents has led to the imposition of stringent safety regulations by government bodies on vehicles. The European Union safety regulation involves mandatory airbags in all passenger cars, which is expected to drive the growth in the region. The growing demand for high-speed engines and better performance vehicles has further increased the risks of fatalities during road accidents. This has made it very essential for the automakers to provide appropriate safety systems along with robust vehicle structures. The inclusion of automotive airbags in the vehicle intended to protect the occupants from all possible accident scenarios can have a positive impact on the market.


RESTRAINING FACTORS


High Maintenance and Operating Costs to Hinder Market Growth


The key restraint affecting the global market is the cost associated with technologically advanced airbags. Moreover, the high maintenance cost of technologically advanced airbags is hampering the growth of the market.


SEGMENTATION


By Application Type Analysis


To know how our report can help streamline your business, Speak to Analyst


Front Airbag Segment to Hold the Largest Market Share During the Forecast Period


By application type, the market is segmented into the knee, front, side, and curtain. The front type segment accounts for the largest automotive airbags market share and is anticipated to dominate the market over the forecast period. Frontal airbags reduce the greatest number of fatalities as the majority of accidents tend to be head-on collisions. The curtain-type segment is also expected to propel the growth of the market. These airbags reduce the risk of severe injuries to the head for the passenger sitting on the side, by approximately 50%. Also, the increasing installation of curtain-type airbags in commercial vehicles is likely to surge demand. For example, Scania's next-generation trucks are now equipped with rollover side curtain airbags for the driver's safety during rollover accidents.


By Vehicle Type Analysis


Passenger Car Segment to Dominate the Market


Based on vehicle type, the automotive airbags market has been segmented into passenger cars and commercial vehicles. The passenger car segment holds the largest market share in the market and is also anticipated to dominate the market during the forecast period. The increasing sales and production of passenger cars in developing countries is expected to propel the market's growth. The rising stringency in government regulations with regards to passenger safety is also likely to drive the growth of the market.


The commercial vehicle segment is also expected to show significant growth in the market over the forecast period. According to the information provided by the Federal Motor Carrier Safety Administration (FMCSA) in 2017, 0.45 million crashes of heavy-duty commercial vehicles were reported in the U.S. itself. The rising number of commercial vehicle crashes has led vehicle manufacturers to deploy vehicle safety systems to enhance occupant's safety. This factor is likely to drive the commercial vehicle segment growth.


REGIONAL INSIGHTS


Asia Pacific Automotive Airbags Market Size, 2019 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample


The market for automotive airbags is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Europe is anticipated to dominate the market during the forecast period owing to stringent government regulations regarding occupant and pedestrian safety for the vehicle. Moreover, major European countries, such as Germany, France, the United Kingdom, and Sweden are promoting Euro NCAP results actively. Sweden is promoting its in-house travel policy to have a 5-star safety rating for vehicles that are used for official business.


North America is also expected to show significant growth in the market during the forecast period. According to the Intermodal Surface Transportation Efficiency Act of 1991, it is mandatory to have airbags in the passenger cars and light-duty commercial vehicles. This factor is driving the automotive airbags market's growth in this region. Asia Pacific is also anticipated to experience healthy growth. The increasing sales and production of vehicles in developing countries such as India and China are expected to propel market growth in this region. Growing awareness among the customers regarding the vehicle safety system is also likely to aid the market in Asia Pacific.


KEY INDUSTRY PLAYERS


Key Players Focus on Investing in R&D to Develop Front-center Airbag for Gaining More Share


The global market is dominated by some of the leading companies owing to their critical strategic decisions, robust product portfolio, and dominance of market share. These include a group of key companies with more extensive geographic presence and persistent R&D, resulting in secure regulatory approvals. ZF Friedrichshafen AG has accelerated transformation to adjust the new market situation by investing in future markets by laying the foundation for the new division of the electric car drives.


LIST OF KEY COMPANIES PROFILED:



  • ZF Friedrichshafen AG (Germany)

  • Continental AG (Germany)

  • Denso Corporation (Japan)

  • Hyundai Mobis (South Korea)

  • Autoliv (Sweden)

  • Joyson Electronic (China)

  • Robert Bosch GmbH (Germany)

  • Other Players


KEY INDUSTRY DEVELOPMENTS:



  • November 2019: - Autoliv developed a new front-center airbag that will protect the front seat passengers in side-impact crash situations and also from sustaining injuries to the chest and head. These automotive airbags also help to avoid driver-to-passenger and driver-to-interior impacts.

  • May 2019: - ZF Friedrichshafen AG is planning to expand a network of investments and cooperation by acquiring a 90% market share of the software specialist for the occupant recognition company, a Simi Reality Motion System. In autonomous driving, this system is a fundamental element for integrated safety as it will help the vehicle system to recognize the location, position, and size of the occupant.

  • March 2018: - ZF Friedrichshafen AG developed a new knee airbag module, which is light in weight. The new knee airbag module features a vastly flexible design for a variety of vehicle interior configurations and sizes.


REPORT COVERAGE


An Infographic Representation of Automotive Airbags Market

To get information on various segments, share your queries with us



The Automotive Airbags market research report provides a detailed study analysis, besides focusing on key aspects such as leading companies, product types, and leading types of applications of the product. Moreover, the report offers insights into market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over the years.


Report Scope & Segmentation








































  ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD Billion) & Volume (Million Units)



 



By Application Type



  • Knee

  • Side

  • Front

  • Curtain



By Vehicle Type



  • Passenger Car

  • Commercial Vehicle



By Geography



  • North America (U.S., Canada, and Mexico)

  • Europe (U.K., Germany, France, and Rest of Europe)

  • Asia-Pacific (Japan, China, India, SK and Rest of Asia- Pacific)

  • Rest of the World



Frequently Asked Questions

Fortune Business Insights says that the global market size for automotive airbags was USD 9.67 billion in 2019 and is projected to reach USD 20.13 billion by 2027

In 2019, the Asia Pacific market value stood at USD 5.00 billion.

Growing at a CAGR of 9.6%, the market will exhibit steady growth in the forecast period (2020-2027).

The passenger car segment is the leading segment in the market

Stringent government regulations for passenger safety are driving the growth of the market.

ZF Friedrichshafen AG and Hyundai Mobis to Lead the Global Market.

Asia Pacific dominated the market share in 2019.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
Automotive Airbags Market Size, Share and Global Industry Trend Forecast till 2026
  • Oct, 2020
  • 2019
  • 2016-2018
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Automotive & Transportation Clients

Kawasaki_Logo_vert

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X