Automotive Airbags and Seatbelts Market, By Types (Airbag Type, Seatbelt Type), By End-User (Heavy Commercial Vehicle, Light Commercial Vehicle, Passenger Car and Electric Vehicle), By Region - Global Analysis Forecast Till 2030

The Automotive Airbags and Seatbelts Market was valued at USD 69.32 billion in 2021 and is expected to reach USD 162.24 billion by 2030, growing at a CAGR of 13.5% between 2021 and 2030.

Airbags are a type of vehicle safety control system designed to reduce injuries in the event of an accident. Airbags are strong fabric bags folded and hidden behind various vehicle parts. In the automobile industry, passenger safety is a top priority. Airbags and seatbelts, for example, have proven to be extremely effective in reducing the risk of injury in an accident. Airbags have become mandatory in developed countries, while most vehicles consider seatbelts standard safety features. Passenger safety laws play an important role in making passive safety systems a standard feature of passenger vehicles.

Market Dynamics

Drivers:

Vehicle Sales Increase Will Set a Positive Trend for Market Growth

New premium and mid-level passenger car models entering the market come standard with airbags. Furthermore, the demand for safety systems in all types of vehicles is expected to skyrocket in the coming years. Furthermore, rising disposable incomes of the growing middle-class population and increasing urbanization will drive the sale of all types of vehicles, boosting the automotive airbags and seatbelts market growth during the forecast period.

Restraints:

Airbag systems are not a primary concern for car owners in developing countries. As a result, many automobile manufacturers provide low-cost airbags to comply with safety regulations. However, in order to save money, passenger safety is compromised, and the durability of that airbag system needs to meet consumer expectations. This discourages consumers from purchasing vehicles with airbag systems. As a result, this industry faces two major challenges: cutting off cheap airbag manufacturers and working on the high cost of airbag systems for all types of vehicles.

Key players:

• ZF Friedrichshafen AG,

• Aptiv PLC,

• Autoliv Inc,

• Robert Bosch,

• Takata Corporation,

• DENSO Corporation,

• Continental AG,

• Ningbo Joyson Electronic Corp,

• Hyundai Mobis,  

• Toshiba Corporation.

Market Segmentation:

Automotive Airbags and Seatbelts Market, By Type

• Airbag Type

• Seatbelt Type

Automotive Airbags and Seatbelts Market, By End User

• Heavy Commercial Vehicle (HCV)

• Light Commercial Vehicle (LCV)

• Passenger Car

• Electric Vehicle Type

Automotive Airbags and Seatbelts Market, By Region

• North America

• Latin America

• Europe

• Asia Pacific

• Middle East & Africa

Regional Analysis:

During the forecast period of 2022-2027, the North America segment is expected to hold the largest share of the global automotive airbags and seatbelts market. Rising investments in automotive R&D projects, demand for passenger vehicle types, and demand for private and public transportation are a few factors driving the automotive airbags and seatbelts market in North America during the forecast period.

Automotive airbags and seatbelts are both convenient and dependable. North American consumers follow the rules and regulations, and airbags and seatbelts are required for two-wheeler, three-wheeler, and four-wheeler vehicles. The automotive airbags and seatbelts market in the United States has been leading for a few years and is expected to grow throughout the forecast period.

During the period 2022-2030, Asia-Pacific is expected to grow the fastest. As many regions expand their manufacturing sectors, there is an increase in demand for passenger vehicles, particularly light commercial vehicles. Because of rising disposable income in developing countries and strict government rules and regulations, the automotive airbags and seatbelts market has grown in size.

Scope of the Report:

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