Key Insights and Future Trends

WILMINGTON, NEW CASTLE, DE, UNITED STATES, September 16, 2024 /EINPresswire.com/ — Allied Market Research recently published a report, titled, “Airbag Market by Module (Inflator, Air bag), by Type (Front Airbag, Knee Airbag, Side Airbag, Curtain Airbag), by Vehicle Type (Passenger Vehicle, Commercial Vehicle), by Material (Polyester Fiber, Nylon, Others), by Sales Channel (OEM, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020-2030″

As per the report, the global airbag industry was accounted for $27.6 billion in 2020, and is expected to reach $47.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 – https://www.alliedmarketresearch.com/request-sample/1851

An airbag is a vehicle safety device consisting of a flexible fabric envelope or cushion designed to punctually inflate during a collision and deflate after the accident. Automotive airbags are deployed with a sensor that activates the airbags according to the type and severity of the collision. Modern vehicles consist of airbag control units that monitor different parts such as wheel speed, side door, and brake pressure. Moreover, the efficiency of these airbags to decrease the impact of crashes is enhanced due to ongoing & innovative advancements in airbag technology. For instance, in 2019, HYUNDAI MOBIS revealed its new safety technology sensors combined with two separate ECUs (electronic control units) for airbags and electronic seatbelts into a single unit for enhanced protection of passengers in different driving situations.

In addition, the airbag market has witnessed significant growth in recent years owing to rise in disposable income level, which influences individuals to invest more in safety features within the vehicle. The companies that operate in the market have adopted partnerships, product launches, and R&D to increase their market share and expand their geographical presence. For instance, in August 2021, Continental AG developed new comprehensive functions & E/E architecture in its airbag control unit that provide even more protection for occupants by reducing the risk of injury in the event of a crash and thus make a substantial contribution to Vision Zero. Moreover, the coalition of crash sound sensors in airbags is one of the crucial trends that are anticipated to gain traction in the commercial vehicle airbag systems market during the forecast period.

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

Autoliv Inc.

Joyson Safety Systems

Hyundai Mobis

Daicel Corporation

Toray Industries, Inc.

Rane Group

Kolon Industries, Inc.

Toyoda Gosei Co., Ltd.

Neaton Auto Products Manufacturing, Inc.

ZF Friedrichshafen AG.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/airbag-market/purchase-options

Factors such as a rise in consumer awareness toward vehicle safety features, growth in the automotive sector, and competition among OEMs are expected to drive the growth of the airbag market. In addition, the rise in the number of fatal road accidents and the government’s implementation of strict safety regulations to prevent them are anticipated to boost the market’s growth. However, advanced technological features that increase car prices and high replacement costs restrain the market growth. Furthermore, the introduction of airbags in two-wheelers and low production costs in developing nations provide lucrative growth opportunities for the market players.

𝐓𝐡𝐞 𝐢𝐧𝐟𝐥𝐚𝐭𝐨𝐫 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐝𝐨𝐦𝐢𝐧𝐚𝐭𝐞𝐝 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭

𝐁𝐲 𝐦𝐨𝐝𝐮𝐥𝐞, the inflator segment held the largest share in 2020, accounting for more than half of the global airbag market. In addition, the segment is estimated to register the highest CAGR of 6.1% during the forecast period, due to rise in application of inflator-based airbags in vehicles to ensure the safety of passengers. The report includes an analysis of the air bag segment.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐩𝐨𝐫𝐭𝐫𝐚𝐲 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟎

𝐁𝐲 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the commercial vehicle segment is projected to manifest the highest CAGR of 9.3% from 2021 to 2030, due to rise in government norms toward introducing airbags in commercial vehicles. However, the passenger vehicle segment held the largest share in 2020, accounting for more than 90% of the global airbag market, due to rise in availability of passenger cars across the globe.

𝐄𝐮𝐫𝐨𝐩𝐞, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐚𝐧𝐝 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐛𝐲 𝟐𝟎𝟑𝟎

𝐁𝐲 𝐫𝐞𝐠𝐢𝐨𝐧, the market across Europe, followed by Asia-Pacific and North America, is anticipated to showcase the highest CAGR of 6.5% during the forecast period, owing to increase in government norms for ensuring safety of vehicles in the region. However, the global airbag market across Asia-Pacific dominated in 2020, accounting for nearly half of the market, owing to rise in production of vehicles across the region.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 – https://www.alliedmarketresearch.com/purchase-enquiry/1851

𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐈𝐌𝐏𝐀𝐂𝐓 𝐀𝐍𝐀𝐋𝐘𝐒𝐈𝐒

➤The COVID-19 crisis creates uncertainty in every market, including the automotive sector. The closure of assembly plants and large-scale manufacturing interruptions has led to the decline in global demand for automobiles, indirectly affecting the airbag market.

➤Governments across different regions announced total lockdown and the temporary shutdown of industries, leading to the border closures that restricted the movement of transportation & logistics services.

➤The COVID-19 health crisis forced the automotive industry to look for alternate sources and prioritize import substitution with their production activities & supply chain.

➤However, the overall service activities of market players have registered a steady and favorable recovery in the subsequent months with the increase in the sales of passenger cars, which leads to a rise in the demand of the Airbag market.

➤As per the current scenario, the overall world is getting back on track slowly; with new restriction and policies, a significant recovery in product sales across the retail sector may positively influence the Airbag market owing to the latest technological innovations regarding vehicle safety.

𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐀𝐢𝐫𝐛𝐚𝐠𝐬 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

https://www.alliedmarketresearch.com/aviation-airbags-market – Aviation Airbags Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/motorcycle-airbag-market-A08507 – Motorcycle Airbag Market : Global Opportunity Analysis and Industry Forecast, 2025-2035

https://www.alliedmarketresearch.com/vehicle-side-airbag-market-A10766 – Vehicle Side Airbag Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

https://www.alliedmarketresearch.com/global-automotive-curtain-airbags-market-A14577 – Automotive Curtain Airbags Market : Global Opportunity Analysis and Industry Forecast, 2023-2032

David Correa
Allied Market Research
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