Global Airbags and Seatbelts Market - Industry Trends and Forecast to 2029

Global Airbags and Seatbelts Market, By Airbag Type (Front, Knee and Side and Curtain), Seatbelts (2-point and 3-point), Vehicle (PC, LCV, Buses and Trucks), Component (Airbag Inflator, ACU, Airbag), Distribution Channel (OEMs, Aftermarket) – Industry Trends and Forecast to 2029

Market Analysis and Size

Airbags refer to the automobile safety control system designed to decline injuries in the event of an accident. Airbags are fabric bags that are folded and concealed behind different parts inside a vehicle for the protection of passengers.

• The absence of seat belt could create the possibility of a person becoming a projectile. The global airbags and seatbelts market was valued at USD 30.37 billion in 2021 and is expected to reach USD 54.97 billion by 2029, registering a CAGR of 7.70% during the forecast period of 2022-2029.

Market Definition

In the automobile industry passenger safety is considered highly important. Passive safety systems such as airbags and seat belts are known to be highly efficient in declining the risk of injuries in the event of an accident. Airbags have become obligatory in developed nations, while seat belts are basic safety features in most vehicles.

COVID-19 had a Major Impact on Airbags and Seatbelts Market

COVID-19 has a major impact on the airbags and seatbelts market. COVID-19 led to supply chain disruptions and impeded advanced suspension control systems during the pandemic. The decline in the demand for automobiles and volatility in raw material prices negatively affected the market. However, production is expected to regain its pace during the post-pandemic scenario.

The Market Dynamics of the Airbags and Seatbelts Market Include:

• Growth in the Automotive Industry

The rapid expansion of automotive industry across the globe increasing the demand for passenger cars acts as one of the major factors driving the growth of airbags and seatbelts market.

• Rise in Demand for Luxurious Sports Cars

The rise in demand for semi-utility vehicles (SUVs) and luxurious sports cars due to the people's growing disposable income accelerate the market growth.

• Concerns regarding Safety

The rise in improved demand for safer, efficient, and convenient driving experiences among the population due to the increase in the number of road accidents further influences market growth.

• Demand for Electric Vehicles

The surge in demand for electric vehicles extends profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, the high demand for pedestrian protection airbags will further escalate the growth of airbags and seatbelts market.

Restraints/Challenges faced by the Airbags and Seatbelts Market

• Active Safety Systems

The rise in demand for active safety systems and issues with maintaining balance between cost and quality are expected to obstruct market growth.

• Vehicle Recalls

The concerns regarding the recalls of multiple vehicle models are projected to challenge the airbags and seatbelts market in the forecast period of 2022-2029.

This airbags and seatbelts market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the airbags and seatbelts market contact Data Bridge Market Research for an Analyst Brief, Our team will help you take an informed market decision to achieve market growth.

Recent Development

• ZF, a leader in driveline effective and efficient security technology and chassis announced that they have increased focus on India in June’2021. They made a significant investment of 200-million-Euro to integrate its business sector strategies.
• Aptiv PLC, introduced location controllers in January’2021. These controllers distribute high-speed and dynamic data between sensors and components. They separate input / output (I / O) from a computer in a car.

Global Airbags and Seatbelts Market Scope

The airbags and seatbelts market is segmented on the basis of airbag type, seatbelts, vehicle, component and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Airbag Type

• Front
• Knee
• Side
• Curtain

On the basis of airbag type, the airbags and seatbelts market is segmented into front, knee and side and curtain

Seatbelts

• 2-Point
• 3-Point

Based on the seatbelts, the airbags and seatbelts market is segmented into 2-point and 3-point.

Vehicle

• PC
• LCV
• Buses
• Trucks

Based on vehicle, the airbags and seatbelts market is segmented into PC, LCV, buses and trucks

Component

• Airbag Inflator
• ACU
• Airbag

Based on the component, the airbags and seatbelts market is segmented into airbag inflator, ACU and airbag.

Distribution Channel

• OEMs
• Aftermarket

The airbags and seatbelts market is also segmented on the basis of distribution channel into OEMs and aftermarket.

Airbags and Seatbelts Market Regional Analysis/Insights

The airbags and seatbelts market is analyzed and market size insights and trends are provided by country, airbag type, seatbelts, vehicle, component and distribution channel.

The countries covered in the airbags and seatbelts market report are the U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the airbags and seatbelts market because of the concerns over safety and increasing incorporation of safety systems within the region.

Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 due to the presence of stringent regulations in the region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Airbags and Seatbelts Market Share Analysis

The airbags and seatbelts market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to airbags and seatbelts market.

Some of the major players operating in the airbags and seatbelts market are HYUNDAI MOBIS. (South Korea), TOYODA GOSEI Co., Ltd., (Japan), Bosch Limited (Germany), Continental AG (Germany), ZF Friedrichshafen AG (Germany), Autoliv Inc., (Sweden), Joyson Safety Systems(US), Aptiv (Ireland), DENSO CORPORATION (Japan), TOSHIBA DEVICE CORPORATION (Japan), Infineon Technologies AG (Germany), Ashimori Industry;Co., Ltd (Japan), TOKAIRIKA,CO, LTD., (Japan), Sumitomo Electric Industries, Ltd., (Japan), RHODIUS GmbH (Germany), and Delphi Technologies (UK), among others.