Published on: May 2022
Uncovering the automotive airbags global market share and status
The market for automotive airbags topped USD 59.5 billion in 2019 and is expected to increase at a CAGR of over 5.1 percent between 2020 and 2026. The market will grow as more people use airbags and as new iterations of airbag design and technology are developed. The market demand would be boosted by increasing consumer knowledge of car safety features and providing occupant protection against vehicle crashes. In numerous accident scenarios, industry participants are creating revolutionary airbag ideas that greatly lower the likelihood of occupant harm. Advanced interior solutions, such as electronically changeable seats and mandatory advanced safety measures that limit lateral head movements, are included in the new vehicles.
Multiple supporting initiatives propelling forward the market growth for automotive bags
Government initiatives, including support for many projects aimed at improving passenger safety, will help the sector grow even faster. For example, in 2017, the European Commission financed the I-Valve project, which aimed to produce superior safety solutions for autos by developing airbag valve technology, including individualised safety airbags. The valve adjusts the intensity of airbag deployment based on vehicle speed, passenger height and position, and crash location. The need for frontal airbags will increase as safety concerns grow.
The frontal automobile airbags market is expected to increase at a rate of roughly 5.5 percent per year through 2026, owing to regulatory agencies around the world mandating the use of frontal airbag systems for driver safety. Automobile manufacturers are also introducing car models with twin front airbags, which protect both the driver and the front seat passenger.
The market for coated airbags will be supported by superior thermal properties
Because of the improved thermal qualities of airbag systems, the coated fabric airbag segment dominates the market. In the case of a collision, the airbags inflate with a substantially bigger volume of air, providing superior protection. Passengers may be more likely to be burned in this case. Furthermore, the fabric of the airbag must be able to tolerate this heat without tearing. Because of its outstanding thermal resistance capabilities, a thin layer of coating material such as silicone or neoprene will protect fabric from heat.
Competitive landscape for automotive bags market
Due to rigorous car safety regulations imposed by transportation authorities across the region, the North American automotive airbags market accounted for over 18 percent revenue share in 2019. Since September 1998, airbags have been required in passenger cars and light commercial vehicles in the United States. In addition, the NHTSA has created a stringent crash test called the Oblique Moving Deformable Barrier (OMDB), which car manufacturers must pass in order to get a 5-star safety certification. During the projected period, the Europe market is expected to increase significantly, owing to the development of new airbag modules in the region as well as government-funded safety measures. In addition, due to expanding airbag demand and car sales, airbag raw material producers are investing in the region to develop manufacturing operations.
Market by Position
Market by Fabric
Market by Vehicle
Market by Distribution Channel
The automotive bags market has a bright and shining future, all thanks to the increasing demands all over the world. Come join hands in exploring the unknown insights and market secrets. contact@industrydataanalytics.com