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.

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). 

According to WHO, road traffic accident claims the lives of about 1.3 million individuals every year. Injuries that are not fatal affect between 20 and 50 million more people, many of whom develop disabilities as a result of their injuries. For individuals, their families, and entire nations, road traffic accidents result in significant economic losses. These losses are caused by the price of medical care, lost wages from the time that family members must miss from work or school to care for the injured, and the costs associated with treating those who die or become disabled as a result of their injuries. Most nations lose 3% of their gross domestic product annually to traffic accidents.

More clients are adopting mobile lifestyles, which raises the significance of technical characteristics. A lot of people used to spend a lot of time outside of their homes before nightfall, with their homes serving as a go-to centre. Many Automotive Airbags are already designed with travel in mind, and over the past several years, participation in adventure sports and other leisure activities has significantly increased, fueling the market's expansion.

US Automotive Airbag Market  is poised to grow at a sustainable CAGR for the next forecast year.