The Global Market for Automotive Airbags is Projected to Exceed 600 Million Units by 2022

Standardization of Passive Safety Features in Vehicles Across the World Sustains Growth in the Global Automotive Airbags Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the Automotive Airbags market. The global market for Automotive Airbags is projected to exceed 600 million units by 2022, driven by the standardization and mandatory integration of passive safety systems in virtually every car being manufactured, and development of new air bag technologies that promise to open revenue opportunities especially in the high-end vehicles segment.     

Airbags have been a feature in automobiles for a long time. Over the years, they have attained high penetration almost 100% for frontal airbags in most markets supported by various legislations and consumer focus on safety. Airbags represent the most important safety device in an automobile, given their ability to significantly reduce fatalities during head-on collisions. Airbags also help in protecting passengers and the driver even when unbelted. Airbags are passive restraint systems, which act as energy-absorbing buffers between the occupants and the hard interior surfaces of the vehicle thus protecting them impact during an accident. Airbags are typically mounted onto the steering wheel, the front instrument panel, and sides of the door, knee area, floor and ceiling. Growing consumer demand for safety, and stringent government safety legislations, and decline in costs are encouraging auto manufacturers to integrate airbags in virtually all vehicle models. The rise in accidents has resulted in several governments worldwide mandating installation of airbags in all types of automobiles. Growing adoption of in-vehicle safety systems by automotive manufacturers as a key factor for brand differentiation is also helping drive growth in the market.

In developing countries, front driver side airbags are popular and are a staple safety feature in most medium range vehicles. In developed markets such as the United States, Japan and Western Europe, demand is forecast to grow for side curtain airbags. A key trend in the market is the growing prominence of smart airbags as alternatives to traditional airbags which are notorious for causing injuries to children. Public concerns over the rise in airbag-related deaths and injuries is leading to the development of smart airbag designs with sensors capable of detecting the presence of both the passengers as well as their position within the compartment to provide integrated “occupant protection”. Reflective of the heady pace of innovation in the market is the growing R&D interest in airbags for pedestrians designed to reduce pedestrian fatalities during collisions by preventing head injuries caused by hard external vehicle structure such as bonnet windscreen, and A-pillars. Despite the stable outlook for the market, the recent recall of millions of vehicles in the U.S. for replacement of faulty airbag inflators manufactured by Takata is casting a shadow on the reliability of automotive airbags.

As stated by the new market research report on Automotive Airbags, Asia-Pacific represents the largest and the fastest growing market worldwide with a CAGR of 9.8% over the analysis period. The growth in the region is led by regulatory mandates for frontal driver airbags, rise in motor vehicle related accidents as a result of improper road infrastructure, together with encouraging macro market trends such as stable automobile production activity, economic growth, increase in disposable incomes and a parallel increase in per capita vehicle ownership rates.   

Key players covered in the report include Autoliv, Denso Corporation, Key Safety Systems Inc., Takata Corporation, Toyoda-Gosei Co. Ltd., and TRW Automotive Holdings Corp., among others.

The research report titled “Automotive Airbags: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, service innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analysed in the report include Front-Impact Driver Airbags, Front-Impact Passenger Airbags, Side-Impact Airbags, and Other Automotive Airbags.

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