Press Release

Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.

Global Automotive Airbags Market to Grow at a CAGR of 9.57% During 2022-2027, Driven by the Rising Vehicle Ownership

According to a new report by EMR titled, ‘Global Automotive Airbags Market Report and Forecast 2022-2027’, the market attained a value of about USD 12.75 billion in 2021. The market is further estimated to grow at a CAGR of 9.57% % in the forecast period of 2022-2027 to reach a value of nearly USD 22.06 billion by 2027.

Geographically, the Asia Pacific region is one of the significant markets for automotive airbags. This can be attributed to the increasing production of vehicles across developing countries in the region, including China and India, which, in turn, is surging the installation of automotive airbags. With the rising disposable incomes and the increasing car ownership, the utilisation of automotive airbags is increasing and driving the market. The growing sales of luxury vehicles among the affluent class in the region are also expected to boost the market growth of automotive airbags. Further, advancements in airbag technology to prevent fatalities and injuries in front-end collisions is anticipated to propel the growth of the market in the forecast period.

In February 2022, Autoliv Inc. (NYSE: ALV), one of the leading companies in the market, collaborated with Nuro to provide exterior airbags to the latter’s autonomous vehicles. The collaboration ensures optimal safety of Nuro’s production-grade and third-generation autonomous vehicle delivery. The airbags cover the front of the vehicle when inflated to protect road users like motorcyclists, pedestrians, and cyclists, among others. Through the collaboration, the company also showcases its innovations to develop advanced safety products for new markets while offering the highest standard of road safety. As Nuro is one of the first companies to receive a deployment permit from the California Department of Motor Vehicles and launch the first commercial autonomous vehicle in the state, the collaboration enhances the company’s offerings of automotive safety solutions. Such developments are expected to bolster the market growth in the forecast period.

Market Analysis by Airbag Type, Vehicle Type, Sales Channel and Region:

  • The market, on the basis of airbag type, can be segmented into knee, front, and curtain and side, among others.
  • Based on vehicle type, the industry can be divided into passenger cars and commercial vehicle, among others.
  • The major sales channels for automotive airbags includes OEM and aftermarket.
  • The regional markets for automotive airbags include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Technological advancements and innovations in automotive airbags to enhance the safety and performance of automobiles are driving the market growth.
  • The introduction of various stringent government regulations to boost road safety is mandating the integration of automotive airbags in new vehicle models, which is augmenting the growth of the market.
  • With the growing demand for fuel and cost-efficient vehicles, automotive airbags with lightweight and enhanced flexibility are increasingly preferred, hence invigorating the industry’s expansion.
  • The rising investments by the key players to boost new developments and innovations in airbags are predicted to aid the market growth in the forecast period.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for automotive airbags for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the airbag types, vehicle types, sales channels, and major regions of automotive airbags.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global automotive airbags market are Joyson Safety Systems Aschaffenburg GmbH, Autoliv Inc., TOYODA GOSEI Co., Ltd., and ZF Friedrichshafen AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

Right People

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

Right Methodology

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

Right Price

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

Right Support

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER