Global light vehicle airbag market has shown impressive growth in the past few years, and it is anticipated to increase at a high rate in the forecast years 2023E-2028F. The rising concern for the safety among the people has made them choose the vehicle with inbuilt airbags. By seeing the preference and inclination of people for the vehicle with airbags, automotive manufacturers across the globe have started placing airbags in higher number in vehicles for safety.  

Airbags are crucial as they increase safety on roads. According to the EU road accidents database, In 2021 an average of around 44 road deaths per million inhabitants were registered in European Union countries. According to the data published by WHO (World Health Organization), an ordinary 1.3 million people die each year due to the road accident across the globe. There are various reasons behind the road accident, which include human mistakes such as over speeding, not wearing seat belt and helmets, drunken & driving, red light jumping, overtaking in a wrong manner, etc. All these factors cause 90% death in road accident. Therefore, these factors have made the buyer prefer the vehicle which has more advanced safety features.

Growing Awareness About Vehicle Safety Features

Nowadays, rising safety awareness among the consumers has made the automotive manufacturers to include more safety features in the vehicles, and the willingness to pay extra for the equipment’s like airbags has driven the airbag market. The automotive manufacturers have increased the demand for the airbags and stringent laws requiring airbag development, this is expected to grow the market in the coming year. As a result, there may be opportunity for market expansion given the rising level of awareness regarding safety features in automobiles. By all these factors the global light vehicle airbag market in projected to witness positive growth in the forecasted year 2023F-2028F.

Increasing Advancements in Airbag Technologies

Automotive manufacturers are largely focused on enhancing cost effectiveness, improving the experience of driving, and working toward overall passenger and driver safety, since the global automotive background is continuously developing. Airbags are still a crucial passive safety component in the automotive industry. The market is growing as a result of airbag technological improvements that are increasing its adoption in passenger vehicles. When a safety belt is worn, the airbag performs best. It might lessen injuries and fatalities in front-end collisions. To protect front-seat occupants, airbag makers have developed a variety of airbags, side curtains, and knee bolsters. They also plan to develop a new generation of rear-seat airbags. One of the automotive company TRW Automotive Holdings Corp, has launched two airbags which are placed at roof and one in the back of the front seat, this might protect rear-seat occupants at the time of accident. Furthermore, the Citroen C4 Cactus is a subcompact crossover SUV featuring innovative roof-mounted passenger airbag technology. The growing innovation in airbag technology in the automobile industry is propelling market growth.

High Operating and Maintenance Costs

Airbags are acquiring advanced features and technology, but cost is a major consideration. The upgraded airbags are linked to additional components such as a clock spring, impact sensors, an igniter, an SRS warning light, a passenger seat switch, a pyrotechnic inflator, an electronic control unit, and seatbelt pretensioners. As a result, the inclusion of such components raises maintenance and operating costs, impeding market expansion.

Growing Adoption of Electric Vehicles

Due to increased investment in manufacturing facilities, the demand for electric vehicles will increase more quickly commencing in 2021. Modern electric vehicles come with airbags that have competitive technology for a better driving experience. As the demand for the zero-emission vehicles has increased in the past few years, by this the automotive manufactures are more focusing to provide electric vehicles in the market, and they are offering subsidies and tax breaks to increase the adoption of electric vehicles in the market. Customers anticipate a significant level of automated experience and cutting-edge driving technologies when moving to an electric vehicle. In future the needs for airbags with enhanced features that may rise even higher as technological innovation and attentiveness to the safety of the driver and passengers. This is one of the reasons, the market is expanding because of higher expectations for the deployment of airbags in electric vehicles.


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Market Segmentation

The global light vehicle airbag market is segmented based on vehicle type, airbag type, demand category, yarn type, and by region, and competitional landscape. Based on vehicle type, the market is further fragmented into Hatchback, SUV & MPV, Sedan, and LCV. Based on demand category, the market is bifurcated into OEM and replacement. In terms of airbag type, the market is divided into front airbags, keen airbags, side airbags and curtain airbags, in yarn type, the market is divided into nylon and polyester type. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Europe, Asia-Pacific, North America, South America, and Middle East & Africa.

Company Profiles

The Autoliv Inc, ZF Friedrichshafen AG, Toyoda Gosei co. Ltd, Robert Bosh Gmbh, Denso Corporation, Hyundai Mobis Co. Ltd, Hella GmbH & Co. KGaA, Takata Corporation, Aptiv Inc., Joyson Safety Systems, are among the major market players in the global platform that lead the market growth of the global light vehicle airbag market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion, volume in units, and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         By Vehicle Type

·         By Airbag Type

·         By Demand Category

·         By Yarn

·         By Region

Regional Scope

Europe, Asia-Pacific, North America, South America, and Middle East & Africa

Country Scope

Germany, Spain, Russia, France, United Kingdom, Slovakia, Italy, China, India, Japan, South Korea, Indonesia, Thailand, Malaysia, Vietnam, United States, Canada, Mexico, Brazil, Argentina, Colombia, Saudi Arabia, Turkey, South Africa, Egypt  

Key Companies Profiled

Autoliv Inc, ZF Friedrichshafen AG, Toyoda Gosei co. Ltd, Robert Bosh Gmbh, Denso Corporation, Hyundai Mobis Co. Ltd, Hella GmbH & Co. KGaA, Takata Corporation, Aptiv Inc., Joyson Safety Systems

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global Sheet Face Mask market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Global Light Vehicle Airbag Market, By Vehicle Type:
    • Hatchback
    • SUV & MPV

o   Sedan

o   LCV

  • Global Light Vehicle Airbag Market, By Airbag Type:
    • Front Airbag
    • Knee Airbag
    • Side Airbag
    • Curtain Airbag
  • Global Light Vehicle Airbag Market, By Demand Category:
    • OEM
    • Replacement
  • Global Light Vehicle Airbag Market, By Yarn Type:
    • Nylon Type
    • Polyester Type
  • Global Light Vehicle Airbag Market, By Region:
    • Europe
      • Germany
      • Spain
      • Russia
      • France
      • United Kingdom
      • Slovakia
      • Italy
    • Asia-Pacific
      • China
      • India
      • Japan
      • South Korea
      • Indonesia
      • Thailand
      • Malaysia
      • Vietnam
    • North America
      • The United States
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina