Global automotive airbag market size surpassed valuation of US$10 Bn in the year 2022 and is likely to observe a strong growth trajectory by the end of this decade, 2030.
Market Analysis in Brief
As of 2019, more than 54 million passenger vehicles were produced across the globe. Wherein, China emerged as the largest producer of passenger vehicles. In addition to this, people under 30 years of their age have started switching to car from bikes, which has given further impetus to the demand. The trend is majorly witnessed in the developing countries such as India, and China on account of increasing consumer affluence, rising spending power on luxury goods, mounting rates of road commute, and easy availability of car loans. To top it all, there has been greater emphasis on safety of both the passengers, and drivers, which further elevates the growth prospects of automotive airbag market.
Key Report Findings
- In 2022, the global automotive airbag market exceeded the valuation of US$10 Bn
- Escalating sales of passenger vehicles will heavily contribute toward market expansion
- Silicon coated airbags remain sought-after
- Ample opportunities exist in Asia Pacific while North America, and Europe continue to lead
Growth Drivers
Mounting Passenger Vehicle Sales
Today, most of the vehicles in the developed countries of Europe, and North America are fitted with airbags. While the developed western world has been the early adopter, on the other hand, the major developing countries like India, and China have also mandated the use of at least frontal air bag in all types of passenger vehicles to enhance the safety of drivers, and co-passengers. The passenger vehicle sales here have been on a continuous uptrend over the past decade and in this backdrop, all the OEMs in India, and China are bound to provide airbags. This is giving the global automotive airbag market an accelerated growth rate.
Stringent Vehicle Safety Guidelines
With the constantly growing number of accidents, several governments across the globe have directed the automotive manufacturers to develop a better product that can safeguard the driver and passengers as well as reduce the chances of accidents. This has prompted leading manufacturers develop a range of safety features in their vehicles such as cruise control, crash warning, lane switching assistance, and airbags among others.
Increasing Focus of Governments on Road Safety
Approximately 1.3 million people die each year as a result of road traffic crashes. Road traffic crashes cost most countries 3% of their gross domestic product. More than half of all road traffic deaths are among vulnerable road users. To reduce the number of accidental fatality rate, governments across the globe have made it mandatory for automakers to equip their vehicles with airbags. This is expected to drive the revenue growth of automotive airbag market space.
For instance, the government of India mandated all the passenger vehicle manufacturers to provide airbag in front driver and co-passenger safety. The Ministry of Road Transport and Highways (MoRTH) in a gazette notification announced the new rule that will require all new vehicles to have dual front airbags as standard fitment from April 1, 2021.
Overview of Key Segments
Coated Airbags in Demand
Currently, different types of fabrics such as nylon, and polyester are used for manufacturing by the players in the global automotive airbag market. The demand for each type of fabric changes as per the manufacturers and their targeted consumers as the choice of material can significantly add value to the final cost of a vehicle.
Silicon Coating Sought-after
From the past few decades, silicon is being commonly used as a coating but it is slowly being replaced with other alternative due to its higher strength, and easy recyclability. Airbags generates heat on deployment, which can severely hurt occupants and may lead serious burns. The scenario is avoided through coating the airbag with silicon or similar substance as it can dissipate the generated heat causing any damage to the integrity of airbag.
Apart from this, silicon coated airbags can deflate easily once reached the maximum level of inflation, which proves to more effective than other alternative such as neoprene coating. It has been found that the demand for coated fabric is high in North American, and European automotive airbag markets on account of stringent safety norms and high adoption of advanced safety features.
Growth Opportunities Across Regions
Asia Pacific Holds the Promise
Asia Pacific is the largest producer of vehicles around the globe. The region has strong presence of all the leading manufacturers such VW, Toyota Motor Corp., Honda Motor Co. Ltd., and General Motors Co., among others. In addition to this, the Asia Pacific automotive airbag market is flooded with numerous country level producers.
In last few years, the region has witnessed a significant adoption in the electric car. Wherein, China has emerged as the largest consumer. As of 2020, 25.1 million cars were sold in China. Out of which, 5.4% were electric vehicles. As per our findings, Asia Pacific is responsible for more than 45% of the global vehicle production. Wherein, China accounts for 25.5%, Japan and Korea for 11.4, and South Asia for 6.3% of the global production.
Climbing Vehicle Sales, and Favorable Business Environment
With the rapidly growing demand for vehicles in this region, a greater number of market players have started shifting their production base to India, China, Vietnam, and Thailand. Key players in the Asia Pacific automotive airbag market are also enjoying the advantages of cheap labor, easy availability of raw materials, and favorable government regulations regarding FDI.
Demand for passenger and commercial vehicles in the region is projected to grow at a healthy CAGR on account of growing purchasing power of consumers, increasing disposable income, changing lifestyle, and increasing urbanization. Similarly, the demand for automotive airbags will witness the same growth momentum in the coming years.
Supportive Role of Asian Governments
The growth of the global automotive airbag market is expected to be supported by growing emphasis of the local government on the maximum safety of the drivers and co-passenger. For instance, the government of India mandated all the passenger vehicle manufacturers to provide airbag in front driver and co-passenger safety. The Ministry of Road Transport and Highways in a gazette notification announced the new rule that will require all new vehicles to have dual front airbags as standard fitment from April 1, 2021.
Global Automotive Airbag Market: Key Players
Joyson Safety Systems (US), Autoliv (Sweden), Toyota Gosei (Japan), ZF Friedrichshafen (Germany), Denso (Japan), and Hyundai Mobis (South Korea) are some of the key players in the global automotive airbag market.
Regional Classification of the Global Automotive Airbag Market is Listed Below:
North America
- U.S.
- Canada
Europe
- Germany
- France
- Spain
- U.K.
- Italy
- Russia
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East and Africa
- GCC
- South Africa
- Rest of Middle East & Africa
1. Executive Summary
1.1. Global Automotive Airbag Market Snapshot
1.2. Key Market Trends
1.3. Future Projections
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.1.1. Driver 1
2.2.1.2. Driver 2
2.2.2. Restraints
2.2.2.1. Restraint 1
2.2.2.2. Restraint 2
2.2.3. Market Opportunities Matrix
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. Covid-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Economic Analysis
2.7. Government Regulations
2.8. PESTEL Analysis
2.9. Consumer Spending on Car Accessories by Vehicle Type & by Region
3. Production Output and Trade Statistics, 2019 - 2022
3.1. Supply-Demand Analysis
3.2. Import-Export Analysis
3.3. Major Exporting Countries, by Destination
4. Price Trends Analysis and Future Projects
4.1. Key Highlights
4.2. Average Price, By Vehicle Type
4.3. Average Price, By Region
5. Global Automotive Airbag Market Outlook, 2019 - 2030
5.1. Global Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
5.1.1. Key Highlights
5.1.1.1. Front
5.1.1.2. Curtain
5.1.1.3. Knee Bags
5.1.1.4. Side
5.1.1.5. Misc. (Including Pedestrian, etc.)
5.1.2. BPS Analysis/Market Attractiveness Analysis
5.2. Global Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
5.2.1. Key Highlights
5.2.1.1. Passenger Cars
5.2.1.2. Light Vehicles
5.2.1.3. Electric Vehicles
5.2.2. BPS Analysis/Market Attractiveness Analysis
5.3. Global Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
5.3.1. Key Highlights
5.3.1.1. Nylon
5.3.1.2. Polyester
5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Global Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
5.4.1. Key Highlights
5.4.1.1. Neoprene
5.4.1.2. Silicone
5.4.1.3. Uncoated
5.4.2. BPS Analysis/Market Attractiveness Analysis
5.5. Global Automotive Airbag Market Outlook, by Region, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
5.5.1. Key Highlights
5.5.1.1. North America
5.5.1.2. Europe
5.5.1.3. Asia Pacific
5.5.1.4. Latin America
5.5.1.5. Middle East & Africa
5.5.2. BPS Analysis/Market Attractiveness Analysis
6. North America Automotive Airbag Market Outlook, 2019 - 2030
6.1. North America Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
6.1.1. Key Highlights
6.1.1.1. Front
6.1.1.2. Curtain
6.1.1.3. Knee Bags
6.1.1.4. Side
6.1.1.5. Misc. (Including Pedestrian, etc.)
6.1.2. BPS Analysis/Market Attractiveness Analysis
6.2. North America Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
6.2.1. Key Highlights
6.2.1.1. Passenger Cars
6.2.1.2. Light Vehicles
6.2.1.3. Electric Vehicles
6.2.2. BPS Analysis/Market Attractiveness Analysis
6.3. North America Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
6.3.1. Key Highlights
6.3.1.1. Nylon
6.3.1.2. Polyester
6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. North America Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
6.4.1. Key Highlights
6.4.1.1. Neoprene
6.4.1.2. Silicone
6.4.1.3. Uncoated
6.4.2. BPS Analysis/Market Attractiveness Analysis
6.5. North America Automotive Airbag Market Outlook, by Country, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
6.5.1. Key Highlights
6.5.1.1. U.S.
6.5.1.2. Canada
6.5.2. BPS Analysis/Market Attractiveness Analysis
7. Europe Automotive Airbag Market Outlook, 2019 - 2030
7.1. Europe Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
7.1.1. Key Highlights
7.1.1.1. Front
7.1.1.2. Curtain
7.1.1.3. Knee Bags
7.1.1.4. Side
7.1.1.5. Misc. (Including Pedestrian, etc.)
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Europe Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
7.2.1. Key Highlights
7.2.1.1. Passenger Cars
7.2.1.2. Light Vehicles
7.2.1.3. Electric Vehicles
7.2.2. BPS Analysis/Market Attractiveness Analysis
7.3. Europe Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
7.3.1. Key Highlights
7.3.1.1. Nylon
7.3.1.2. Polyester
7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Europe Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
7.4.1. Key Highlights
7.4.1.1. Neoprene
7.4.1.2. Silicone
7.4.1.3. Uncoated
7.4.2. BPS Analysis/Market Attractiveness Analysis
7.5. Europe Automotive Airbag Market Outlook, by Country, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
7.5.1. Key Highlights
7.5.1.1. Germany
7.5.1.2. France
7.5.1.3. U.K.
7.5.1.4. Italy
7.5.1.5. Spain
7.5.1.6. Turkey
7.5.1.7. Russia
7.5.1.8. Rest of Europe
7.5.2. BPS Analysis/Market Attractiveness Analysis
8. Asia Pacific Automotive Airbag Market Outlook, 2019 - 2030
8.1. Asia Pacific Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
8.1.1. Key Highlights
8.1.1.1. Front
8.1.1.2. Curtain
8.1.1.3. Knee Bags
8.1.1.4. Side
8.1.1.5. Misc. (Including Pedestrian, etc.)
8.1.2. BPS Analysis/Market Attractiveness Analysis
8.2. Asia Pacific Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
8.2.1. Key Highlights
8.2.1.1. Passenger Cars
8.2.1.2. Light Vehicles
8.2.1.3. Electric Vehicles
8.2.2. BPS Analysis/Market Attractiveness Analysis
8.3. Asia Pacific Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
8.3.1. Key Highlights
8.3.1.1. Nylon
8.3.1.2. Polyester
8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Asia Pacific Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
8.4.1. Key Highlights
8.4.1.1. Neoprene
8.4.1.2. Silicone
8.4.1.3. Uncoated
8.4.2. BPS Analysis/Market Attractiveness Analysis
8.5. Asia Pacific Automotive Airbag Market Outlook, by Country, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
8.5.1. Key Highlights
8.5.1.1. China
8.5.1.2. Japan
8.5.1.3. South Korea
8.5.1.4. India
8.5.1.5. Southeast Asia
8.5.1.6. Australia and New Zealand
8.5.1.7. Rest of Asia Pacific
8.5.2. BPS Analysis/Market Attractiveness Analysis
9. Latin America Automotive Airbag Market Outlook, 2019 - 2030
9.1. Latin America Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
v9.1.1. Key Highlights
9.1.1.1. Front
9.1.1.2. Curtain
9.1.1.3. Knee Bags
9.1.1.4. Side
9.1.1.5. Misc. (Including Pedestrian, etc.)
9.1.2. BPS Analysis/Market Attractiveness Analysis
9.2. Latin America Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
9.2.1. Key Highlights
9.2.1.1. Passenger Cars
9.2.1.2. Light Vehicles
9.2.1.3. Electric Vehicles
9.2.2. BPS Analysis/Market Attractiveness Analysis
9.3. Latin America Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
9.3.1. Key Highlights
9.3.1.1. Nylon
9.3.1.2. Polyester
9.3.2. BPS Analysis/Market Attractiveness Analysis
9.4. Latin America Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
9.4.1. Key Highlights
9.4.1.1. Neoprene
9.4.1.2. Silicone
9.4.1.3. Uncoated
9.4.2. BPS Analysis/Market Attractiveness Analysis
9.5. Latin America Automotive Airbag Market Outlook, by Country, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
9.5.1. Key Highlights
9.5.1.1. Brazil
9.5.1.2. Mexico
9.5.1.3. Rest of Latin America
9.5.2. BPS Analysis/Market Attractiveness Analysis
10. Middle East & Africa Automotive Airbag Market Outlook, 2019 - 2030
10.1. Middle East & Africa Automotive Airbag Market Outlook, by Application, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
10.1.1. Key Highlights
10.1.1.1. Front
10.1.1.2. Curtain
10.1.1.3. Knee Bags
10.1.1.4. Side
10.1.1.5. Misc. (Including Pedestrian, etc.)
10.1.2. BPS Analysis/Market Attractiveness Analysis
10.2. Middle East & Africa Automotive Airbag Market Outlook, by Vehicle Type, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
10.2.1. Key Highlights
10.2.1.1. Passenger Cars
10.2.1.2. Light Vehicles
10.2.1.3. Electric Vehicles
10.2.2. BPS Analysis/Market Attractiveness Analysis
10.3. Middle East & Africa Automotive Airbag Market Outlook, by Material, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
10.3.1. Key Highlights
10.3.1.1. Nylon
10.3.1.2. Polyester
10.3.2. BPS Analysis/Market Attractiveness Analysis
10.4. Middle East & Africa Automotive Airbag Market Outlook, by Coating, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
10.4.1. Key Highlights
10.4.1.1. Neoprene
10.4.1.2. Silicone
10.4.1.3. Uncoated
10.4.2. BPS Analysis/Market Attractiveness Analysis
10.5. Middle East & Africa Automotive Airbag Market Outlook, by Country, Volume (Million Units) and Value (US$ Mn), 2019 - 2030
10.5.1. Key Highlights
10.5.1.1. GCC
10.5.1.2. South Africa
10.5.1.3. Egypt
10.5.1.4. Rest of Middle East & Africa
10.5.2. BPS Analysis/Market Attractiveness Analysis
11. Competitive Landscape
11.1. Company Market Share Analysis, 2020
11.2. New Developments
11.3. Market Structure
11.4. Company Profiles
11.4.1. Autoliv Inc.
11.4.1.1. Company Overview
11.4.1.2. Product Portfolio
11.4.1.3. Financial Overview
11.4.1.4. Business Strategies and Development
11.4.2. BorgWarner Inc.
11.4.3. Joyson Safety Systems
11.4.4. Toyoda Gosei Co. Ltd.
11.4.5. Ningbo Joyson Electronic Corp.
11.4.6. ZF Friedrichshafen AG
11.4.7. Daicel Corporation
11.4.8. Denso Corporation
11.4.9. Hyundai Mobis
11.4.10. Ashimori Industry Co. Ltd
11.4.11. Nihon Plast Co., Ltd.
12. Appendix
12.1. Research Methodology
12.2. Report Assumptions
12.3. Acronyms and Abbreviations
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2022 |
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2018 - 2022 |
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2023 - 2030 |
Value: US$ Mn Volume: Million Units |
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REPORT FEATURES |
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Application Coverage |
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Vehicle Type Coverage |
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Materials Coverage |
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Coatings Coverage |
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Report Highlights |
Market Estimates and Forecast, Market Dynamics, Industry Trends, Production Output, Trade Statistics, Prices Trend Analysis, Competition Landscape, Application-, Vehicle Type-, Material-, Coatings-, Region-, Country-wise Trends & Analysis, COVID-19 Impact Analysis (Demand and Supply), Key Market Trends |
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