"We Envision Growth Strategies Most Suited
to Your Business"

Automotive Airbags Market to Reach USD 81.81 Billion by 2029; Aptiv PLC Announces Conclusive Deal to Purchase Wind River for USD 4.3 Billion to Lure in Business Prospects

August 05, 2022 | Automotive & Transportation

The global automotive airbags market size was valued at USD 47.96 billion in 2021. The market is projected to grow from USD 50.12 billion in 2022 to USD 81.81 billion by 2029, exhibiting a CAGR of 7.3% during the forecast period.


This information is provided by Fortune Business Insights, in its report titled, Automotive Airbags Market Size, Share & COVID-19 Impact Analysis, By Product Type (Frontal Airbag, Side Airbag, Knee Airbag, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), and Regional Forecasts, 2022-2029.”


Automotive airbags are vehicle passenger limitation devices that support and protect passengers' heads and chests in a car accident or collision. The airbags are intended to respond and bloat in milliseconds, offering cushioning to passengers. The market is anticipated to develop sturdily over the projected period.


Deterioration in Novel Cars Sales Amid COVID-19 to Hinder Market Growth


Various regions remain fragile, owing to their restricted capability to tackle outbreaks of COVID-19. Unbalanced and sudden lockdowns being re-established in numerous nations have adversely swayed the business. This has additionally obstructed automaker's revenue generation. Nevertheless, in Asian economies, pioneering automakers Hyundai and Maruti Suzuki are observing a stable recovery in automobile manufacturing and shipments. For example, the sale of Hyundai in India reported in June was 21,000 units and has been doubled over in July to 42,000.


Toyoda Gosei Advances Driver-side Airbag with Novel Structure that Refines Driver Safety


Toyoda Gosei Co., Ltd. has advanced a driver-side airbag with a novel structure that can safeguard the occupant in a better manner. This airbag is utilized in the new Honda Civic that was introduced in North America in June 2021.


It is installed in the center of the steering wheel; driver-side airbags expand during frontal crashes to alleviate the effect on the driver’s head and chest. In order to more securely protect the traveler during angled frontal accidents, the new airbag utilizes an advanced donut-shaped structure to cradle and hold the head to decrease rotation. This will aid to suffice the need for new car assessment curriculums in North America and in other places that are projected to become stricter in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/automotive-airbags-market-101699


Surging Regulatory Needs Linked with Vehicle Safety and Increasing Demand for Safety Equipped Cars to Refine Market Growth


Owing to rising protection guidelines by governments, automotive airbag producers will be compelled to manufacture progressive airbag systems such as knee and side curtain airbags. Furthermore, numerous governments across the globe have announced strict vehicle security guidelines.


The prime challenge experienced by the market is the huge cost of airbag system vehicles. Consumers do not opt for a car with an airbag system in underdeveloped countries. Additionally, some producers deliver an airbag system at a reduced price. This is expected to hinder the market growth.


Fundamental Business-related Declarations by Prime Players to Sway Market Dynamics


Indispensable companies in the market often make vital declarations concerning a few business moves, which, in turn, affect the market either positively or negatively. Players procure companies, unveil novel products, participate in partnership deals, sign agreements with government establishments, and so on.


Notable Industry Development



  • January 2022: Aptiv PLC, a global technology company fixated on making traveling secure, greener, and more connected, declared a conclusive contract to buy Wind River for USD 4.3 billion in cash from TPG Capital, a private equity platform of global alternative asset management firm TPG.


List of Key Players Covered in the Report



  • Autoliv Inc (Sweden)

  • Joyson Safety System (U.S.)

  • Robert Bosch GmbH (Germany)

  • Toyoda Gosei Co. Ltd (Japan)

  • Denso Corporation (Japan)

  • Hyundai Mobis Co. Ltd (South Korea)

  • Magna International (Canada)

  • Aptiv PLC (Ireland)

  • ZF Friedrichshafen AG (Germany)

  • Valeo SA (France)


Further Report Findings


Based on product type, the market is divided into frontal, side, knee airbags, and others. Frontal segment holds the largest share globally, and is expected to lead throughout the forecast period.


Asia Pacific stood at USD 31.44 billion in 2021 and is projected to reach USD 53.25 billion by 2029 at a CAGR of 8.0% over the forecast period. The region is likely to dominate as an automotive hub and hold the largest market share. Increasing vehicle production per year in Asia Pacific countries is another driving factor.


Table of Segmentation












































  ATTRIBUTE



  DETAILS



Study Period



2018-2029



Base Year



2021



Estimated Year



2022



Forecast Period



2022-2029



Historical Period



2018-2020



Unit



Value ( USD Billion)



Segmentation



By Product Type



  • Frontal Airbag

  • Side Airbag

  • Knee Airbag

  • Others



By Vehicle Type



  • Passenger Car

  • Commercial Vehicle



By Geography



  • North America (By Vehicle Type, By Product Type)

    • U.S. (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)



  • Europe (By Vehicle Type, By Product Type)

    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)



  • Asia Pacific (By Vehicle Type, By Product Type)

    • China (By Vehicle Type)

    • Japan (By Vehicle Type)

    • India (By Vehicle Type)

    • South Korea (By Vehicle Type)

    • Rest of APAC (By Vehicle Type)



  • Rest of the World (By Vehicle Type, By Product Type)


Automotive Airbags Market
  • PDF
  • 2021
  • 2018-2020
  • 200

    CHOOSE LICENSE TYPE

  • 4850
    5850
    7850

Our Clients

KIA
Bain & Company
Topcon
Hunkeler
iqvia
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X