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:
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:
- 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