What is the global market size of Automotive Airbag Market?

Automotive Airbag Market size was valued at USD 47.96 billion in 2021 and is poised to grow from USD 51.46 billion in 2022 to USD 97.02 billion by 2030, growing at a CAGR of 7.3% in the forecast period (2023-2030).

Automotive Airbag Companies

Automotive Airbag Market Competitive Landscape

Top Players in the Global Automotive Airbag Market

Hyundai Motor Group
Continental AG
ZF Friedrischshafen AG
Robert Bosch GMBH
Denso Corporation
Hella Gmbh & Co. KGaA
Calsonic Kansei Corporation (Mareli)
Nihon Plastic Company Co. Ltd
Delphi Automotive
Takata Corporation
Autoliv Inc.
Toyoda Gosei Co., Ltd.
Daicel Corporation
Joyson Safety Systems
Nippon Kayaku Co., Ltd.
Ashimori Industry Co., Ltd.
Takata Corporation
Hyundai Mobis
TRW Automotive Holdings
Continental AG

Automotive Airbag Market

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Global Automotive Global Automotive Airbag Market Airbag Market size was valued at USD 13.20 billion in 2022 and is poised to grow from USD 13.89 billion in 2023 to USD 20.83 billion by 2031, growing at a CAGR of 5.20% during the forecast period (2024-2031).

Global automotive airbag market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Hyundai Motor Group ', 'Continental AG ', 'ZF Friedrischshafen AG ', 'Robert Bosch GMBH ', 'Denso Corporation ', 'Hella Gmbh & Co. KGaA ', 'Calsonic Kansei Corporation (Mareli) ', 'Nihon Plastic Company Co. Ltd ', 'Delphi Automotive ', 'Takata Corporation ', 'Autoliv Inc. ', 'Toyoda Gosei Co., Ltd. ', 'Daicel Corporation ', 'Joyson Safety Systems ', 'Nippon Kayaku Co., Ltd. ', 'Ashimori Industry Co., Ltd. ', 'Takata Corporation ', 'Hyundai Mobis ', 'TRW Automotive Holdings ', 'Continental AG'

Traffic jams are a common occurrence in all major cities around the world due to a lack of space and inadequate urban infrastructure. The mobility space of urban economies is constrained by the enormous number of individual cars and driving errors. Road accidents, reckless driving, and failure to wear safety equipment result in the deaths of over 1.3 million people each year. This results in severe human fatalities that could otherwise be completely avoided. In order to prevent injuries during collisions and lower the death rate, auto manufacturers are installing airbags in their vehicles. This will fuel the market for automotive airbags during the anticipated period of growth.

In order to significantly increase the safety of drivers and passengers, the airbag system concept was introduced for passenger cars and heavy-duty vehicles. However, creative solutions like including airbags in previously untapped markets like two-wheelers are anticipated to open up opportunities for the expansion of the global airbag market. For instance, Autoliv Inc. and Piaggio Group collaborated to develop a two-wheeler airbag in 2021. To determine whether this system performs as intended and designed, the company has already started conducting extensive crash tests. The airbags are installed on both sides of the bike in a 2-wheeler vehicle system to provide complete coverage for the vehicle's protection, thereby ensuring pedestrian safety.

Europe is expected to control the automotive airbag market share. Due to strict government regulations regarding vehicle occupant and pedestrian safety. The results of the Euro NCAP are actively promoted by France, the UK, and Sweden. Sweden is promoting its internal travel policy, which calls for vehicles used for official business to have a 5-star safety rating. The North America market share is anticipated to increase significantly over the course of the forecast period. Airbags are a requirement for passenger cars and light-duty commercial vehicles under the Intermodal Surface Transportation Efficiency Act of 1991. This is leading to an increase in the market for automotive airbags in this area. Also anticipated for Asia Pacific is a healthy growth rate. The rising vehicle production and sales in developing countries like China and India are expected to fuel market expansion in this region. The growing consumer awareness of the significance of vehicle safety systems is likely to be advantageous for the Asia Pacific market.

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Automotive Airbag Market Size, Share, Growth Analysis, By Type (Frontal Airbag, Side Airbag), By Vehicle Type (Hatchback/Sedan, SUV), By Component (Airbag Inflator, Impact Sensors), By Region -Industry Forecast 2024-2031.

Automotive Airbag Market Competitive Landscape

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Automotive Airbag Market Size, Share, Growth Analysis, By Type (Frontal Airbag, Side Airbag), By Vehicle Type (Hatchback/Sedan, SUV), By Component (Airbag Inflator, Impact Sensors), By Region -Industry Forecast 2024-2031.

Automotive Airbag Market Competitive Landscape

Automotive Airbag Market Report Snapshots

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