Pune, India, April 04, 2022 (GLOBE NEWSWIRE) -- Automotive airbags & seatbelts market is anticipated to grow at a steady growth rate over the forecast period, owing to the upsurge in demand for efficient, safer, and convenient driving experience along with the developments in vehicle passive safety systems. Airbags are a complementary protection unit which is designed to work best in combination with seat belts. Seatbelt holds an occupant in the car in place during the sudden jerk or vehicle stoppage and ensures maximum efficiency of the airbag. During an event of an accident, the airbag fills up rapidly and delivers a cushion for the occupants in the vehicle by ensuring that they are protected during crash.
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Key Insights & Findings:
- The frontal airbags segment led the automotive airbags & seatbelts market and valued at USD 14.74 Billion in 2020. Growth of this segment is mainly driven increasing adoption of frontal airbag systems for driver safety and its mandates by regulatory authorities globally.
- The 3-point seatbelts segment accounted for the largest market share and valued at USD 20.54 Billion in 2020. Demand for superior comfort and safety has primarily led the proliferation of 3-point seatbelts.
- The passenger car segment accounted for the significant market share and valued at USD 13.20 Billion in 2020. Rapidly growing usage of passenger cars for conveyance in developing as well as developed countries drives growth of this segment.
- The airbag segment accounted for the largest market share and valued at USD 14.86 Billion in 2020. Growth of this segment is expected to be driven by safety regulations associated with the passive safety systems coupled with advancements in airbag materials.
- The BEV segment accounted for the largest market share and valued at USD 12.77 Billion in 2020. Growth of this segment is driven by factors such as supporting government regulations & policies and improvement in battery technology.
- The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia-Pacific region emerged as the largest market for the Automotive Airbags & Seatbelts market and valued at USD 11.60 Billion in 2020. Rise in concerns over safety along with the increased incorporation of safety systems, predominantly airbags, in the compact cars fuels growth of the Asia-Pacific automotive airbags & seatbelts market. The Middle East and Africa region is likely to register the significant growth during the forecast period. This is mainly due to the significant rise in trend among the automotive manufacturers across the globe to set up their manufacturing plants in the region.
Key players operating in the global Automotive Airbags & Seatbelts market are ZF Friedrichshafen, Autoliv, Joyson Safety Systems, Robert Bosch, Continental, Aptiv, Denso, Hyundai Mobis, Toshiba Device Corporation, and Toyoda Gosei among others. To enhance their market share in the global Automotive Airbags & Seatbelts market, the key vendors are now focusing on adopting the prominent strategies such as recent developments, product innovation, mergers & acquisitions, joint venture, collaborations, and partnership.
- For instance, in November 2021, Autoliv, Inc., the provider of automotive safety systems, and SSAB, the global steel company collaborated to research and develop fossil-free steel components for automotive safety products, such as seatbelts and airbags.
- In November 2019, Autoliv Inc., the global provider of vehicle safety systems, announced the development of a new front center airbag which is designed for saving lives in side-impact crash situations.
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Global Automotive Airbags & Seatbelts Market by Airbags Type:
- Frontal Airbags
- Knee Airbags
- Side & Curtain Airbags
Global Automotive Airbags & Seatbelts Market by Seatbelts Type:
- 2-point Seatbelts
- 3-point Seatbelts
Global Automotive Airbags & Seatbelts Market by Vehicle:
- Passenger Cars
- Light Commercial Vehicle
- Buses
- Trucks
Global Automotive Airbags & Seatbelts Market by Component:
- Airbag Inflator
- Airbag Control Unit
- Airbag
Global Automotive Airbags & Seatbelts Market by Electric Vehicle:
- BEV
- FCEV
- HEV
- PHEV
Global Automotive Airbags & Seatbelts Market by Region:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Russia
- Asia-Pacific
- Japan
- China
- India
- Korea
- Southeast Asia
- South America
- Brazil
- Peru
- Middle East and Africa
- UAE
- South Africa
- Saudi Arabia
About the report:
This research report gives detailed data about the major factors influencing the growth of the Automotive Airbags & Seatbelts market at the national and local level forecast of the market size, in terms of value, market share by region, and segment; regional market positions; segment and country opportunities for growth; Key company profiles, SWOT, product portfolio and growth strategies. It studies the market essential sides such as top participants, expansion strategies, business models, and other market features to improve market insight.
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