Automotive Airbags And Seatbelts Market
PUBLISHED: 2024 ID: SMRC26243
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Automotive Airbags And Seatbelts Market

Automotive Airbags & Seatbelts Market Forecasts to 2030 - Global Analysis By Airbag Type (Frontal Airbags, Knee Airbags and Side/Curtain Airbags), Seatbelt Type (2 Point, 3 Point, 5 Point and Other Seatbelt Types), Vehicle Type, Electric Vehicle Type, Component, Sales Channel and By Geography

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4.5 (72 reviews)
Published: 2024 ID: SMRC26243

This report covers the impact of COVID-19 on this global market
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According to Stratistics MRC, the Global Automotive Airbags & Seatbelts Market is accounted for $36.7 billion in 2023 and is expected to reach $67.9 billion by 2030 growing at a CAGR of 9.1% during the forecast period. Automotive airbags and seatbelts are vital safety components installed in vehicles to mitigate the risk of injury during collisions. Airbags rapidly inflate upon impact, providing cushioning for occupants, while seatbelts restrain passengers, preventing them from being ejected. They enhance occupant protection by reducing the severity of injuries and saving lives in the event of accidents.

According to the Insurance Institute for Highway Safety (IIHS), front airbags reduce driver fatalities in frontal crashes by 29% and fatalities of front-seat passengers age 13 and older by 32%. Side airbags that protect the head reduce a car driver's risk of death in driver-side crashes by 37% and an SUV driver's risk by 52%. 

Market Dynamics:

Driver: 

Rising concerns for passenger safety

Increasing awareness about vehicle safety and rising concerns for passenger protection are major drivers for the automotive airbag and seatbelt market. Governments worldwide are implementing stringent safety regulations, mandating the installation of airbags and seatbelts in vehicles. Consumers are also becoming more safety-conscious and are willing to pay for advanced safety features. As a result, automakers are focusing on integrating advanced airbag systems and seatbelt technologies to enhance passenger safety, thereby driving the growth of the market.

Restraint:

High cost of advanced safety systems

Features such as side airbags, knee airbags, and advanced seatbelt pretensioners add to the overall cost of the vehicle. This cost is often passed on to consumers, making vehicles equipped with these advanced safety features more expensive. The higher price point can deter some consumers, especially in price-sensitive markets, from opting for these safety technologies. This cost constraint can limit the widespread adoption of advanced airbags and seatbelts, particularly in entry-level vehicles.

Opportunity:

Focus on autonomous vehicles

As vehicles become more autonomous, the focus on passenger safety will intensify. Autonomous vehicles will require advanced airbag systems that can adapt to different seating positions and occupant sizes. Moreover, the integration of airbags with other safety technologies, such as sensors and cameras, will become crucial. The development of innovative airbag designs and deployment mechanisms specifically tailored for autonomous vehicles will open up new growth avenues for the market.

Threat:

Product liability and recall risks

Airbag and seatbelt manufacturers face the risk of product failures, defects, or malfunctions, which can lead to serious injuries or fatalities. Such incidents can result in costly product liability lawsuits and damage the reputation of the manufacturer. Additionally, product recalls due to safety issues can be expensive and can erode consumer trust in the brand.

Covid-19 Impact: 

The COVID-19 pandemic has had a significant impact on the automotive airbags and seatbelts market. The temporary shutdown of vehicle manufacturing plants and disruptions in the supply chain has affected the production and availability of airbags and seatbelts. The economic uncertainty caused by the pandemic has also led to a decline in vehicle sales, reducing the demand for these safety components. However, as the automotive industry recovers and vehicle production resumes, the demand for airbags and seatbelts is expected to rebound.

The passenger cars segment is expected to be the largest during the forecast period

The passenger cars segment is expected to hold the largest share of the automotive airbags and seatbelts market during the forecast period. Passenger cars account for the majority of vehicle production worldwide, and the increasing focus on passenger safety in this segment is driving the demand for airbags and seatbelts. Governments have mandated the installation of frontal airbags and three-point seatbelts in passenger cars, making them standard safety features. Moreover, the growing consumer preference for vehicles equipped with advanced safety systems is further boosting the growth of this segment.

The knee airbags segment is expected to have the highest CAGR during the forecast period

The knee airbags segment is expected to witness the highest CAGR in the automotive airbags market during the forecast period. Knee airbags are designed to protect the lower extremities of the occupants during a frontal collision. They help reduce the risk of leg and knee injuries by cushioning the impact. The increasing adoption of knee airbags, particularly in premium and luxury vehicles, is driving the growth of this segment. As safety regulations become more stringent and consumer awareness about the benefits of knee airbags grows, the demand for this segment is expected to rise significantly.

Region with largest share:

The Asia Pacific region is expected to hold the largest share of the automotive airbag and seatbelt market. The region is home to several major vehicle manufacturing countries, such as China, Japan, and South Korea, which have a significant influence on the global automotive industry. The increasing vehicle production, coupled with the rising consumer demand for safety features, is driving the growth of the market in this region. Moreover, governments in the Asia Pacific region are implementing stringent safety regulations, mandating the installation of airbags and seatbelts in vehicles, further boosting market growth.

Region with highest CAGR:

The Asia Pacific region is also expected to exhibit the highest CAGR in the automotive airbags and seatbelts market during the forecast period. The region's rapidly growing automotive industry, increasing disposable incomes, and rising awareness about vehicle safety are the key factors contributing to this growth. Countries like India and Southeast Asian nations are witnessing a surge in vehicle ownership, leading to a higher demand for airbags and seatbelts. Additionally, the increasing focus on vehicle safety by governments and consumers in the region is expected to drive the adoption of advanced airbag systems and seatbelt technologies, further fueling market growth.

Key players in the market

Some of the key players in Automotive Airbags & Seatbelts Market include Aptiv PLC, Ashimori Industry Co., Ltd., Autoliv Inc., Continental AG, Denso Corporation, East Joy Long Motor Airbag Co., Ltd., Goradia Industries, Hyundai Mobis Co., Ltd., Joyson Safety Systems, Nihon Plast Co., Ltd., Robert Bosch GmbH, Schrader International, Inc., Special Devices Inc., Takata Corporation, Tokai Rika Co., Ltd., Toyobo Co., Ltd., Toyoda Gosei Co., Ltd. and ZF Friedrichshafen AG.

Key Developments:

In June 2023, Autoliv is set to debut its inaugural two-wheeler airbag in 2025. The upcoming bag-on-bike airbag, scheduled for production in the same year, promises a substantial reduction in the risk of severe injuries during frontal crashes for riders of powered two-wheelers.

In May 2023, Autoliv China, a subsidiary of the worldwide leader in automotive safety systems, Autoliv Inc, and NIO Inc., a leading electric vehicle company based in China, have signed a strategic cooperation framework agreement. The collaboration includes several new safety technologies for electric vehicles with an overarching focus on sustainable solutions.

Airbag Types Covered:
• Frontal Airbags
• Knee Airbags
• Side/Curtain Airbags

Seatbelt Types Covered:
• 2 Point 
• 3 Point 
• 5 Point 
• Other Seatbelt Types

Vehicle Types Covered:
• Passenger Cars
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCVs)

Electric Vehicle Types Covered:
• Battery Electric Vehicles (BEV)
• Hybrid Electric Vehicles (HEV)
• Plug-in Hybrid Electric Vehicles (PHEV)
• Fuel Cell Electric Vehicles (FCEV)

Components Covered:
• Airbag Inflator
• Airbag Control Unit (ACU)
• Airbag

Sales Channels Covered:
• OEM (Original Equipment Manufacturer)
• Aftermarket

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary        
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders       
 2.3 Research Scope       
 2.4 Research Methodology       
  2.4.1 Data Mining      
  2.4.2 Data Analysis      
  2.4.3 Data Validation      
  2.4.4 Research Approach      
 2.5 Research Sources       
  2.5.1 Primary Research Sources      
  2.5.2 Secondary Research Sources      
  2.5.3 Assumptions      
         
3 Market Trend Analysis        
 3.1 Introduction       
 3.2 Drivers       
 3.3 Restraints       
 3.4 Opportunities       
 3.5 Threats       
 3.6 Emerging Markets       
 3.7 Impact of Covid-19       
         
4 Porters Five Force Analysis        
 4.1 Bargaining power of suppliers       
 4.2 Bargaining power of buyers       
 4.3 Threat of substitutes       
 4.4 Threat of new entrants       
 4.5 Competitive rivalry       
         
5 Global Automotive Airbags & Seatbelts Market, By Airbag Type        
 5.1 Introduction       
 5.2 Frontal Airbags       
 5.3 Knee Airbags       
 5.4 Side/Curtain Airbags       
         
6 Global Automotive Airbags & Seatbelts Market, By Seatbelt Type        
 6.1 Introduction       
 6.2 2 Point        
 6.3 3 Point        
 6.4 5 Point        
 6.5 Other Seatbelt Types       
         
7 Global Automotive Airbags & Seatbelts Market, By Vehicle Type        
 7.1 Introduction       
 7.2 Passenger Cars       
 7.3 Light Commercial Vehicles (LCV)       
 7.4 Heavy Commercial Vehicles (HCVs)       
         
8 Global Automotive Airbags & Seatbelts Market, By Electric Vehicle Type        
 8.1 Introduction       
 8.2 Battery Electric Vehicles (BEV)       
 8.3 Hybrid Electric Vehicles (HEV)       
 8.4 Plug-in Hybrid Electric Vehicles (PHEV)       
 8.5 Fuel Cell Electric Vehicles (FCEV)       
         
9 Global Automotive Airbags & Seatbelts Market, By Component        
 9.1 Introduction       
 9.2 Airbag Inflator       
 9.3 Airbag Control Unit (ACU)       
 9.4 Airbag       
         
10 Global Automotive Airbags & Seatbelts Market, By Sales Channel        
 10.1 Introduction       
 10.2 OEM (Original Equipment Manufacturer)       
 10.3 Aftermarket       
         
11 Global Automotive Airbags & Seatbelts Market, By Geography        
 11.1 Introduction       
 11.2 North America       
  11.2.1 US      
  11.2.2 Canada      
  11.2.3 Mexico      
 11.3 Europe       
  11.3.1 Germany      
  11.3.2 UK      
  11.3.3 Italy      
  11.3.4 France      
  11.3.5 Spain      
  11.3.6 Rest of Europe      
 11.4 Asia Pacific       
  11.4.1 Japan      
  11.4.2 China      
  11.4.3 India      
  11.4.4 Australia      
  11.4.5 New Zealand      
  11.4.6 South Korea      
  11.4.7 Rest of Asia Pacific      
 11.5 South America       
  11.5.1 Argentina      
  11.5.2 Brazil      
  11.5.3 Chile      
  11.5.4 Rest of South America      
 11.6 Middle East & Africa       
  11.6.1 Saudi Arabia      
  11.6.2 UAE      
  11.6.3 Qatar      
  11.6.4 South Africa      
  11.6.5 Rest of Middle East & Africa      
         
12 Key Developments        

 12.1 Agreements, Partnerships, Collaborations and Joint Ventures       
 12.2 Acquisitions & Mergers       
 12.3 New Product Launch       
 12.4 Expansions       
 12.5 Other Key Strategies       
         
13 Company Profiling        
 13.1 Aptiv PLC       
 13.2 Ashimori Industry Co., Ltd.       
 13.3 Autoliv Inc.       
 13.4 Continental AG       
 13.5 Denso Corporation       
 13.6 East Joy Long Motor Airbag Co., Ltd.       
 13.7 Goradia Industries       
 13.8 Hyundai Mobis Co., Ltd.       
 13.9 Joyson Safety Systems       
 13.10 Nihon Plast Co., Ltd.       
 13.11 Robert Bosch GmbH       
 13.12 Schrader International, Inc.       
 13.13 Special Devices Inc.       
 13.14 Takata Corporation       
 13.15 Tokai Rika Co., Ltd.       
 13.16 Toyobo Co., Ltd.       
 13.17 Toyoda Gosei Co., Ltd.       
 13.18 ZF Friedrichshafen AG       
         
List of Tables         
1 Global Automotive Airbags & Seatbelts Market Outlook, By Region (2021-2030) ($MN)        
2 Global Automotive Airbags & Seatbelts Market Outlook, By Airbag Type (2021-2030) ($MN)        
3 Global Automotive Airbags & Seatbelts Market Outlook, By Frontal Airbags (2021-2030) ($MN)        
4 Global Automotive Airbags & Seatbelts Market Outlook, By Knee Airbags (2021-2030) ($MN)        
5 Global Automotive Airbags & Seatbelts Market Outlook, By Side/Curtain Airbags (2021-2030) ($MN)        
6 Global Automotive Airbags & Seatbelts Market Outlook, By Seatbelt Type (2021-2030) ($MN)        
7 Global Automotive Airbags & Seatbelts Market Outlook, By 2 Point (2021-2030) ($MN)        
8 Global Automotive Airbags & Seatbelts Market Outlook, By 3 Point (2021-2030) ($MN)        
9 Global Automotive Airbags & Seatbelts Market Outlook, By 5 Point (2021-2030) ($MN)        
10 Global Automotive Airbags & Seatbelts Market Outlook, By Other Seatbelt Types (2021-2030) ($MN)        
11 Global Automotive Airbags & Seatbelts Market Outlook, By Vehicle Type (2021-2030) ($MN)        
12 Global Automotive Airbags & Seatbelts Market Outlook, By Passenger Cars (2021-2030) ($MN)        
13 Global Automotive Airbags & Seatbelts Market Outlook, By Light Commercial Vehicles (LCV) (2021-2030) ($MN)        
14 Global Automotive Airbags & Seatbelts Market Outlook, By Heavy Commercial Vehicles (HCVs) (2021-2030) ($MN)        
15 Global Automotive Airbags & Seatbelts Market Outlook, By Electric Vehicle Type (2021-2030) ($MN)        
16 Global Automotive Airbags & Seatbelts Market Outlook, By Battery Electric Vehicles (BEV) (2021-2030) ($MN)        
17 Global Automotive Airbags & Seatbelts Market Outlook, By Hybrid Electric Vehicles (HEV) (2021-2030) ($MN)        
18 Global Automotive Airbags & Seatbelts Market Outlook, By Plug-in Hybrid Electric Vehicles (PHEV) (2021-2030) ($MN)        
19 Global Automotive Airbags & Seatbelts Market Outlook, By Fuel Cell Electric Vehicles (FCEV) (2021-2030) ($MN)        
20 Global Automotive Airbags & Seatbelts Market Outlook, By Component (2021-2030) ($MN)        
21 Global Automotive Airbags & Seatbelts Market Outlook, By Airbag Inflator (2021-2030) ($MN)        
22 Global Automotive Airbags & Seatbelts Market Outlook, By Airbag Control Unit (ACU) (2021-2030) ($MN)        
23 Global Automotive Airbags & Seatbelts Market Outlook, By Airbag (2021-2030) ($MN)        
24 Global Automotive Airbags & Seatbelts Market Outlook, By Sales Channel (2021-2030) ($MN)        
25 Global Automotive Airbags & Seatbelts Market Outlook, By OEM (Original Equipment Manufacturer) (2021-2030) ($MN)        
26 Global Automotive Airbags & Seatbelts Market Outlook, By Aftermarket (2021-2030) ($MN)        
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.          

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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