Airbags play a vital role for a safety of passenger in a car during these modern days and it is becoming standardized safety feature in most of the automobiles across the world. These airbags are available in different size and shapes and are capable of protecting almost every part of a human body in a car accident. According to the National Highway Traffic Safety Administration (NHTSA), a branch of the U.S. government, part of the Department of Transportation, frontal air bags saved 44,869 lives from 1987 to 2015. Throughout the years, automotive airbag technology has been upgrading to ensure the safety of the passengers. The recent trends in the automotive airbag technology are o reduce the size of airbags and smart air pressure control mechanism which regulates inflation.
The global automotive airbag market is segmented by types and vehicle type. On the basis of the type, the market is segmented into driver front airbag, passenger front airbag, side airbag, knee airbag, curtain airbag, pedestrian airbag and others. On the basis of the vehicle type, the market is a passenger vehicle and commercial vehicle. According to the National Highway Traffic Safety Administration, airbags have been the cause of more than 170 fatalities in the United States since 1990.
On the basis of the types, driver front airbag holds the major automotive airbag market share among other segments due to the strict regulatory by traffic safety authorities regarding driver’s protection in case of accidents.
On the basis of the vehicle type, the market is segmented into passenger vehicle and commercial vehicle. Passenger vehicles holds the major share of the automotive airbag market, owing to stringent regulation imposed by governments for passenger safety.
On the basis of region, the global automotive airbag market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
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Asia Pacific is expected to witness high market growth during the forecast period, as most of the multinational suppliers in Asia Pacific have invested heavily in R&D. For instance, Bosch opens first smart factory in Thailand to respond to growing automobile production in Thailand. It invested 80 million euros in total in the new smart factory in Thailand.
The automotive industry of Germany is one of the most important drivers for the automotive airbag market in Europe.
North America is one of the leading regions in automotive airbag market as safety restraint systems in automobiles have progressively gained attention in the countries like U.S. and Canada.
Increasing sale of luxurious cars is expected to drive the automotive airbag market in LAMEA region during the forecast period.
Some of the key players in the global automotive airbags market are Autoliv Inc. (Sweden), Daicel Corporation (Japan), ZF Friedrichshafen AG (TRW Automotive) (Germany), Aptiv PLC (Delphi Automotive) (Ireland), Key Safety Systems Inc. (Takata) (U.S.), Tokai Rika Co. Ltd. (Japan), TOYODA GOSEI Co., Ltd. (Japan), Denso Corp., Hyundai Mobis (South Korea), Neaton Auto Products Manufacturing Inc. (U.S.), and Bradford Industries, Inc. (U.S.)
Automotive airbags is a competitive market, and several companies are using different strategies to increase their share in the market. Innovation is the organic strategy for the development of the market, and most of the players are investing a huge amount in developing automotive airbags. Additionally, head protecting side airbags are equipped in nearly 70 percent of new vehicles.
February 2019, for instance, ZF Friedrichshafen AG, which has spent 10 years working on the external airbag, which would inflate on a vehicle's exterior to make it even safer, has finally ready for carmakers
By Vehicle Type