Home Automotive and Transportation Asia Pacific Automotive Airbags Market Size, Share & Current Analysis Report [2031]

Asia Pacific Automotive Airbags Market

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Asia Pacific Automotive Airbags Market Size, Share & Trends Analysis Report By Position (Frontal Airbag, Side Airbag, Knee Airbag), By Fabric (Coated, Non-Coated), By Type (Passenger Vehicle, Commercial Vehicle), By Distribution Channels (OEM, Aftermarket) and By Country(China, Korea, Japan, India, Australia, Taiwan, South East Asia, Rest of Asia-Pacific) Forecasts, 2024-2032

Report Code: SRAT54963DR
Study Period 2020-2032 CAGR 7.9%
Historical Period 2020-2022 Forecast Period 2024-2032
Base Year 2023 Base Year Market Size USD XX Billion
Forecast Year 2032 Forecast Year Market Size USD XX Billion
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Market Overview

The Asia Pacific Automotive Airbags Market Size has witnessed significant growth in the past and is expected to grow at a CAGR of 7.9% during the forecast period (2022–2030). In addition, increased consumer awareness and disposable income have led consumers to spend more on a vehicle's safety features. Leading automakers now equip their vehicles with side airbags (SABs) to prevent severe thoracic injuries in side-impact collisions.

An airbag is a safety feature incorporated into vehicles to protect drivers, passengers, and pedestrians in the event of an accident, minimizing the risk of severe injuries or fatalities. It is made of polyester or nylon and has various sizes and shapes. Acting as an inflatable cushion, the airbag is strategically positioned in areas such as the steering wheel, doors, roof, or seats. It utilizes a crash sensor to quickly activate and rapidly inflate, offering defense against the impact of a collision.

The Asia Pacific region holds the title of being the largest vehicle producer globally. It boasts a strong presence of renowned manufacturers such as Volkswagen, Toyota Motor Corp., Honda Motor Co. Ltd., and General Motors Co., among others. Furthermore, the Asia Pacific market is abundant, with numerous local manufacturers at the country level. In recent years, there has been a substantial increase in the adoption of electric cars in the region, with China leading the way as the largest consumer. In 2020, China recorded the sale of 25.1 million cars, of which 5.4% were electric vehicles.

Market Dynamics

Asia-Pacific Automotive Airbags Market Drivers

Strict Guidelines for Vehicle Safety

To address the growing number of accidents, governments have instructed automotive manufacturers to enhance their products and prioritize driver and passenger safety to minimize the occurrence of accidents. Prominent manufacturers are introducing various vehicle safety features, including cruise control, collision warning systems, lane assistance, and airbags. Road traffic accidents lead to approximately 1.3 million fatalities annually, resulting in significant economic costs for countries, accounting for around 3% of their gross domestic product. More than half of these fatalities affect vulnerable road users. Governments globally have made it a requirement for vehicle manufacturers to incorporate airbags in their vehicles to reduce the number of fatalities. For instance, the Indian government has mandated that all passenger vehicle manufacturers must equip their vehicles with airbags for the safety of the front driver and co-passenger.

Asia-Pacific Automotive Airbags Market Restraint

Issues with Airbag Inflation Mechanism

Frontal airbags have demonstrated significant effectiveness by saving more than 60,000 lives each year. While they can prevent fatal outcomes in collisions, they also carry the potential to cause injuries. Car accidents can lead to various airbag-related injuries, such as facial cuts and broken noses, especially if the airbag is defective. The proper deployment of an airbag relies on the vehicle's sensors accurately detecting speed, braking, and impact. Malfunctioning sensors can result in the airbag deploying unnecessarily or failing to deploy in a genuine crash. Some airbags may inflate too quickly and burst, while others may not inflate rapidly enough to provide sufficient cushioning upon impact. Additionally, certain chemicals used in airbag deployment can lead to breathing difficulties, abrasions, burns, vision impairments, or hearing loss.

Asia-Pacific Automotive Airbags Market Opportunities

Increased Consumer Consciousness of Vehicle Safety Features

Road accidents are a global concern, particularly when driving in heavy traffic and poor weather conditions. According to the World Health Organization, approximately 1.25 million individuals die annually in traffic accidents. Airbags are widely used in vehicles to reduce the severity of collisions, for example, to enhance overall vehicle safety and reduce the number of collisions. In 2019, Autoliv Inc. introduced a new front-center airbag, mounted between the driver and front-seat passenger, that reduces the risk of head, shoulder, and torso injuries and saves lives in side-impact collisions. Thus, adopting advanced safety systems (airbags) and growing consumer awareness of safety features are anticipated to propel the automotive airbag market.

Regional Analysis

The Asia-Pacific region holds a significant share of the global automotive airbag market. The market's growth in this region can be attributed to the high production and sales of vehicles, particularly in countries like China, Japan, and South Korea. The increasing focus on vehicle safety and regulations mandating the installation of airbags are driving down the demand for automotive airbags in the Asia-Pacific region.

Report Scope

Report Metric Details
Segmentations
By Position
  1. Frontal Airbag
  2. Side Airbag
  3. Knee Airbag
By Fabric
  1. Coated
  2. Non-Coated
By Type
  1. Passenger Vehicle
  2. Commercial Vehicle
By Distribution Channels
  1. OEM
  2. Aftermarket
Company Profiles Continental AG Toyoda Gosei Robert Bosch Denso Corporation ZF Aptiv Plc Key Safety Systems Infineon Technologies AG Tokia Rika Rhodius GmbH Ashimory Industry Telamon
Geographies Covered
APAC China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
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Segmental Analysis

The Asia-Pacific Automotive Airbags Market is segmented into position, application, vehicle type, and distribution channel.

It is further segmented by position into frontal, side, and knee airbags.

Frontal Airbags dominated the market and are expected to register a CAGR of 8.4% over the forecast period. Front airbags are designed to deploy in moderate to severe frontal collisions to prevent a person's head and torso from colliding with hard vehicle structures. The governments of various nations mandated that all automobiles, light trucks, and vans be equipped with driver and passenger airbags for frontal impact protection. They provide the most protection when occupants wear safety belts and sit appropriately, but they are designed to protect all occupants.

Based on fabric, it is further segmented into coated and non-coated.

Coated dominated the market and is expected to register a CAGR of 8.3% over the forecast period. Automobile airbags are manufactured using various varieties of fabric, such as nylon and polyester. As the choice of material can considerably increase the final cost of a vehicle, the demand for each type of fabric fluctuates according to manufacturers and their intended consumers. Silicon has been widely used as a coating for the past few decades, but other materials are gradually displacing it due to their superior strength and recyclability.

It is further segmented into passenger and commercial vehicles based on vehicle type.

Passenger vehicles dominated the market and are expected to register a CAGR of 7.5% over the forecast period. Approximately 23 million commercial vehicles were manufactured worldwide. In most countries worldwide, commercial vehicle manufacturers are not required to install airbags. Nonetheless, numerous market participants have begun supplying airbags in midsize commercial vehicles. However, the number is extremely restrictive.

Based on the distribution channel, it is further segmented into OEM and aftermarket.

OEM dominated the market and is expected to register a CAGR of 7.7% over the forecast period. Some developing nations, such as India and China, have mandated the installation of at least one frontal airbag in all passenger vehicles to increase the safety of drivers and occupants. Accordingly, all OEMs in India and China are required to install airbags.

Market Size By Position

Market Size By Position
  • Frontal Airbag
  • Side Airbag
  • Knee Airbag
  • Recent Developments

    • January 2022: Continental AG and Volterio are collaborating to develop fully automated charging robots for electric vehicles.
    • February 2022: DENSO Corporation (DENSO) and Sony Semiconductor Solutions Corporation (SSS) announced that DENSO would invest USD 0.35 billion in Japan Advanced Semiconductor Manufacturing, Inc. (JASM), TSMC’s majority-owned manufacturing affiliate in Kumamoto Prefecture, Japan. Due to this equity transaction, DENSO will hold a more than 10% equity position in JASM.

    Top Key Players

    Asia Pacific Automotive Airbags Market Share of Key Players

    Asia Pacific Automotive Airbags Market Share of Key Players
    Continental AG Toyoda Gosei Robert Bosch Denso Corporation ZF Aptiv Plc Key Safety Systems Infineon Technologies AG Tokia Rika Rhodius GmbH Ashimory Industry Telamon Others

    Frequently Asked Questions (FAQs)

    What is the estimated growth rate (CAGR) of the Asia Pacific automotive airbags market?
    The market size is growing at a CAGR of 7.9% from 2021 to 2031.
    Strict guidelines for vehicle safety is the key driver for the growth of this market.
    The key players in this market are Continental AG,Toyoda Gosei,Robert Bosch,Denso Corporation,ZF,Aptiv Plc,Key Safety Systems,Infineon Technologies AG,Tokia Rika,Rhodius GmbH,Ashimory Industry,Telamon


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