Airbag Market Size to be Worth USD 57.45 Billion Growing at 7.6% CAGR till 2030; Industry Revenue, Statistics, Forecast by Emergen Research

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The global airbag market size is expected to reach USD 57.45 Billion at a revenue CAGR of 7.6% in 2030, according to latest analysis by Emergen Research. Market revenue growth is attributed to rising cases of road accidents that have resulted in critical injuries and deaths which is increasing awareness among customers towards the use of airbags in automotive sectors. According to statistical figures from the National Safety Council of the U.S., 42,060 people died in car accidents in 2020. This increasing general public awareness is expected to drive revenue growth of the market during the forecast period. Also, with a rise in per capita income of customers, they are getting inclined towards spending more on pre-installed safety systems which in turn are allowing major firms with new investment prospects.

Moreover, comfort and driving experience of customers is improved by the introduction of active and passive safety systems in vehicles as consumers make their purchasing decisions on aspects such as trustworthiness, safety, and comfort. As a result, customer awareness of car safety rises, thereby driving market revenue growth over the forecast period.

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Airbags rapidly deploy and deflate at the appropriate times. Sensors determine the weight and location of passengers, the direction and force of impact, and the condition of the rollover. When an airbag deploys, sensors may already be activated. For instance, a small bump or pothole can set off the airbags.

Replace all sensors after an airbag deployment. After an airbag deployment, many electronic systems might need to be reset. When the steering wheel airbag deploys, the clock spring needs to be replaced if the SRS light illuminates, signalling a systemic issue. A qualified service facility should be the only one to replace an airbag.

Some Key Highlights in the Report

  • On 27 February 2019, Scania equipped its new generation trucks with rollover side curtain airbags integrated into the headliner molding above the doors to provide enhanced protection in case of a rollover, which is considered the most serious type of truck accident.
  • The front segment accounted for a significant revenue share in 2021 owing to the advantages of passenger front airbags, which include minimal risk of injury or death and inexpensive insurance premiums. Frontal airbags saved approximately 50,457 lives between 1987 and 2019, according to the National Highway Traffic Safety Administration. Frontal airbags are the most effective in preventing mortality since most accidents are head-on collisions. Furthermore, the growing mandate of regulations regarding the adoption of front airbags in commercial vehicles is expected to drive demand for these airbags, leading to revenue growth of the segment.
  • The commercial vehicles segment is expected to register a fastest revenue CAGR during the forecast period. This can be attributed to governments across the globe increasingly enforcing tough requirements to guarantee driver and passenger safety in commercial vehicles. Furthermore, increased manufacturing of commercial vehicles for export is expected to drive revenue growth of this segment over the forecast period. According to the International Motor Vehicle Organization, in 2019 heavy commercial vehicles increased by around 3.5% compared to last year.
  • Market in Europe is expected to grow at a moderate revenue growth rate over the forecast period. This rise can be attributed mainly to the rising demand for required safety features, as well as increased spending in Research and Development (R&D) for developing vehicle designs to provide passenger safety features. Furthermore, as safety certification becomes more generally acknowledged, European automakers are producing automobiles that fulfill safety standards. Audi, BMW, Daimler, Porsche, and Volkswagen are among the world’s major automotive corporations, and the world’s largest automotive suppliers are Bosch, Continental, and ZF among others.

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Market Overview:

The report bifurcates the airbag market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Emergen Research has segmented the global airbag market based on type, material type, airbag position, vehicle type, coating, sales channel:

Based on the types, the market is segmented into:

  • Type Outlook (Revenue, USD Billion; 2019-2030)
    • One-Piece-Woven
    • Cut-And-Sewn Seam-Sealed
  • Material Type Outlook (Revenue, USD Billion; 2019-2030)
    • Nylon
    • Polyester
  • Airbag Position Outlook (Revenue, USD Billion; 2019-2030)
    • Curtain/Side
    • Front
    • Knee
  • Vehicle Type Outlook (Revenue, USD Billion; 2019-2030)
    • Passenger vehicles
      1. Luxury Cars
      2. Non-Luxury Cars
    • Commercial vehicles
      1. Light Commercial Vehicles (LCV)
      2. Medium and Heavy Commercial Vehicles (M&HCV)
  • Coating Outlook (Revenue, USD Billion; 2019-2030)
    • Coated
      1. Neoprene
      2. Silicon
    • Non-coated
  • Sales Channel Outlook (Revenue, USD Billion; 2019-2030)
    • Original Equipment Manufacturer (OEM)
    • Aftermarket

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Regional Landscape section of the airbag report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Companies Profiled in the Report are:

Wacker Chemie AG, Mitsubishi Electric Corporation, Shin-Etsu Chemical Co. Ltd., Visteon Corporation, Denso Corporation, Toyobo Co. Ltd., Continental AG, Nihon Plast Co. Ltd., Toyoda Gosei Co. Ltd., ZF Friedrichshafen AG, Autoliv Inc., and Toray Industries Inc.

How will this Report Benefit you?

An Emergen Research report of 250 pages contains 194 tables, 189 charts and graphics, and anyone who needs a comprehensive analysis of the global airbag market, as well as commercial, in-depth analyses of the individual segments, will find the study useful. Our recent study allows you to assess the entire regional and global market for airbag. In order to increase market share, obtain financial analysis of each segment and the whole market. Look at how you can utilize the current and potential revenue-generating opportunities available in this sector. We believe that there are significant prospects for energy storage technology in this industry due to the rapid expansion of the technology. In addition to helping you build growth strategies, improve competitor analysis, and increase business productivity, the research will also assist you in making better strategic decisions.

Key Questions Answered by the Report:

  1. Which region is expected to dominate the market in the coming years?
  2. What are the recent technological and product advancements occurring in the market?
  3. What are the key strategies adopted by the prominent players in the airbag market?
  4. What are the key product types and applications of the airbag industry?
  5. What is the outcome of SWOT analysis and Porter’s Five Forces analysis?
  6. How is the competitive landscape of the airbag market?
  7. Who are the key players in the industry?
  8. What is the growth rate of the industry over the coming years?
  9. What will be the valuation of the airbag Market by 2030?

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