According to Acumen Research and Consulting, the global automotive airbag market size is expected to reach around US$ 86 billion by 2026 and market is growing at a CAGR around 5.8 % throughout the forecast period 2019-2026.
One car safety device is Airbag. The car airbag includes a flexible fabric coil or cushion designed to inflate while driving in a vehicle collision. The primary purpose of the automotive airbag is to protect the car body when the car batters internal objects, such as the steering, wheel or window. This is used by drivers during a vehicle crash. Multiple airbags in different front and side positions of the vehicle driver are designed to provide modern vehicles. Car airbags are used with a sensor that activates the airbags depending on the type and severity of the collusion. Airbag control unit comprises a contemporary vehicle that monitors various parts within the vehicle, such as rotating speed, side door and break pressure.
The report provides analysis of global Automotive Airbag market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Shifting consumer inclination towards increased vehicle safety features that provide front and roll-over protection for occupants offers significant opportunities for growth over the projected timeframe in the automotive airbag market. The adoption of enhanced safety features is thus increasing the size of the industries, influencing the increased available incomes and consumer awareness positively. In the emerging countries, the proliferation of automotive production will boost product demand. In 2018, for example, the output of passenger vehicles in Iran rose to 1.6 million units, up by 3.2% from 2017.
In-depth demand for vehicle safety systems accelerates increasing number of vehicle crashes and road accidents. In 2016, for example, more than 5.5 per cent more fatal crashes than in back in 2015. In conjunction with supporting regulatory standards, improved road safety standards drive car airbags ' market share over the forecast period.
The increasing importance of vehicle safety requirements and crash tests is contributing significantly to increased airbag penetration during the study period. In the context of the Global New Car Assessment Program (NCAP), the adoption of safety restriction systems to reduce road deaths and serious injuries is effectively promoted. The market will be driven by increased consumer awareness of safety standards and characteristic characteristics of tested cars.
The automobile airbags market has a positive outlook over the projected timeframe due to strict demands on full frontal impact, offset frontal impact, and side impact testing. Government bodies develop legislation and regulations for compulsory occupational safety systems. In 2017, for example, the Indian Government, as of October 2019, announced that at least one airbag would be compulsory fit in all passenger cars.
Rapid advances in technology in airbags contribute significantly to improved passenger safety and adaptive performance of various occupant sizes. The shift to affordable passive safety systems shows potential growth prospects for the market size of automotive airbag systems. In addition, the development of cost-effective frontal and side-impact security airbag technologies is gaining greater visibility.
The car airbag market share is supported by side curtain airbags, which provide effective protection against side effects and roll over, over the projected timeframe. The growth of the market is driven by increased product installations by car and truck manufacturers. Scania introduced side curtain airbags in August 2019, for example, to protect passengers from truck rollaway crashes.
New product penetration offers the potential for lightweight and flexible airbags. ZF Friedrichshafen AG, for example, developed a new Knee airbag fabric module with smaller and flexible packaging features in March 2018. For example. The increased preference from cars for knee airbags further enhances the market share of automotive airbags over the time frame.
Due to its rapid deployment in driver, side and knee airbags, coated automated airbags are more than 4 percent CAGR. Improve the product penetration rate over the forecast period, due to a minimum heat transfer and a uniform application of airbags. The use of silicon-coated airbags is positively influenced by increasing the vehicle safety and crash standards.
Because of increased deployment in passenger airbags, the uncoated airbag segment is expected to account for more than 20 billion USD by 2026. The possibility of non-coated aerobatics is offered by longer inflation time and cooler gas availability. Growing demand for occupant protection from frontal crashes will further strengthen the size of the market for automotive airbags.
The automotive airbags market will dominate passenger vehicles by 2026. The dominance of passenger vehicles can be due to several governmental laws that are forced to deploy airbags. New Airbag products that deploy faster and improve safety are launched by industry participants. Toyoda Gosei Co., Ltd, for instance, launched a new 3-bag lateral airbag in July 2017. This design ensures immediate use in high-speed crashes.
As a result of the growing sales of commercial vehicles worldwide, the business segment will show significant increases. In 2018 HCV grew by about 3.5 percent compared with 2017, according to the International Motor Vehicle Organization (OICA). The expansion of commercial vehicle fleet is supported by the proliferating logistic industry. With the incorporation of airbags and other safety devices including AEB systems, new models are being launched by LCV manufacturers, thus increasing segment penetration. For example, three new commercial vehicles Peugeot launched on the Australian market in April 2019.
Distribution Channel Snapshots
Due to the growing demand for new generation cars, OEM accounted for a significant proportion. In order to increase its market share, industry participants enter into strategic mergers and acquisitions. Joyson Safety Systems, for example, has completed the acquisition of Takata Corporation's global reach to provide security solutions in April 2018. The aftermarket segment significantly drives increasing vehicle deaths and accidents over the time period of the study. The segment share will increase significantly by compulsory requirements to replace airbag modules following a vehicle collision.
Due to growing car sales in the region, Asia Pacific dominates the market share. A growing number of vehicle sales are increasing disposable incomes, easy access to finances and frequent launch of new models. In addition, in order to support demand in the domestic vehicle industry, industry participants invest in the region to start a new production facility. For example, Toyoda, announced in May 2017 to invest USD 10.54 million in the development of the new airbag factory.
As a result of compulsory airbags regulations, Europe's car airbags market will grow significantly. Regional growth will be supported by the growing safety concern for cars alongside technological advances in airbag design. In February 2019, for example, ZF announced that external airbags systems were developed by companies to help reduce the severity of occupants ' injury to up to 40 %.
Global Automotive Airbag Market, By Position
Global Automotive Airbag Market, By Fabric
Global Automotive Airbag Market, By Vehicle
Global Automotive Airbag Market, By Distribution Channel
Global Automotive Airbag Market, By Geography
The market research study on “Automotive Airbag Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Automotive Airbag market segments with market dynamics and their impact. The report also covers basic technology development policies.
Key Players & Strategies
Due to the presence of key players such as Continental AG, Takata Corporation, and Hyundai Mobis Co, the airbag market share is very competitive. Toyoda Gosei Co., Ltd., Denso Corporation, Robert Bosch GmbH, and Autoliv Inc. Ltd., also key players in the market. In order to reduce world traffic deaths, industry participants are significantly investing to develop new safety technology. Autoliv, for example, presented new Life cell airbag technology in January 2018 to provide autonomous protection regardless of the sitting position. Herstellers aim to increase production volumes to support increased airbag demand.
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