Automotive Airbag Market Size, Share, Growth Analysis, By Type(Front, Side, Knee, Curtain), By Vehicle Type(Passenger Car, Commercial Vehicle), By Region - Industry Forecast 2024-2031

Automotive Airbag Market Driver

• 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.
• The installation of airbags in both commercial and passenger vehicles is required by government regulation in all regions. The market for automotive airbags is then anticipated to grow as a result. During the forecast period, it is anticipated that the automotive airbag industry will undergo significant change due to the development of sensors in vehicles to gather the information that ensures various control units interact better. Included in this are airbags, belt tensioners, and other car attributes that can quickly identify an approaching collision.

Automotive Airbag Market Restraint

• Lack of consumer awareness of traffic laws, especially in rural areas, is predicted to hinder the global market for automotive airbags. The development of the automotive airbag market is also constrained by a lack of government initiatives to promote automotive airbags as a component of road safety. Additionally, a major barrier to consumer adoption of automotive airbags is the absence of government authorities to enforce appropriate traffic regulations in rural areas of developing and underdeveloped countries, which is anticipated to negatively affect market growth during the forecast period.
• The high cost of automotive airbags is one of the main obstacles. An automotive airbag that protects the user's head and neck requires a significant investment in research, development, and design. Furthermore, the expansion of the global market is being hampered by an increase in the number of Chinese producers of inexpensive and fake automotive airbags. The increased use of e-commerce platforms has increased the demand for counterfeit goods, which is a significant threat to the global market.