Automotive Airbags Market Analysis

Automotive Airbags Market Analysis

Frontal automotive airbags market is estimated to witness around 5.5% growth through 2026 led by mandated adoption of frontal airbag systems for driver safety by regulatory authorities globally. Additionally, the automotive manufactures are launching vehicle models with dual front airbags that provide safety to both driver and front seat passenger.

Coated fabric airbag segment dominates the market share owing to improving thermal properties of airbags system. The airbags inflate with significantly higher volume of air for offering superior protection during the event of a crash. This situation may increase the risk of passengers getting burnt. Moreover, the airbag fabric requires to withstand this heat without tearing. The thin layer of coating material such as silicone and neoprene will protect fabric from heat on account of excellent thermal resistance properties.

In 2019, passenger vehicle segment generated around USD 49 million revenue due to incorporation of airbags in majority passenger vehicles as a standard fitment. The growing disposable income and availability of easier financing alternatives are supporting the passenger vehicle adoption. The vehicle manufacturers are taking multiple initiatives to enhance vehicle safety performance. The manufacturers are offering dual airbags as standard feature in their new vehicle models.
 

The OEMs hold dominance in the global market share attributed to growing vehicle production along with rising vehicle safety awareness. The vehicle manufacturers are deploying several airbag systems including frontal, side curtain, and knee airbags to improve the safety ratings of new vehicle models. Additionally, the industry players are developing airbag systems that deploys faster in high speed accidents. The R&D investment to develop new airbags technology such as external airbags will further provide opportunities to improve safety performance and thereby enhancing their revenue share.
 

North America automotive airbags market accounted for over 18% revenue share in 2019 owing to stringent vehicle safety norms developed by transportation authorities across the region. The incorporation of airbags in passenger cars and light commercial vehicles are compulsory in the U.S. since September 1998. Additionally, the NHTSA has developed the strict crash test including Oblique Moving Deformable Barrier (OMDB) that required to perform by vehicle manufacturers to receive the 5-star safety ratings.
 

The Europe market is anticipated to showcase substantial growth during the forecast period impelled by development of new airbag module in region along with government funded safety projects. In addition, the airbag raw material manufacturers are investing in the region to establish manufacturing plants owing to growing airbags demand and rising vehicle sales.