The global market for automotive airbags and seat belts is expected to grow from USD 30.2 billion in 2020 to USD 54.8 billion by 2028, at a CAGR of 8.0% during the forecast period 2021- 2028: GreyViews

GreyViews

GreyViews

The global market for automotive airbags and seat belts 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 and Seat Belts market, key vendors are now focusing on adopting prominent strategies such as recent developments, product innovation, mergers and acquisitions, joint ventures, collaborations, and partnerships.

Pune, India, April 04, 2022 (GLOBE NEWSWIRE) — The automotive air bag and seat belt market is anticipated to grow at a steady growth rate during the forecast period, owing to the increase in demand for a efficient, safer and more convenient driving experience along with developments in passive vehicle safety systems. The air bags are a supplemental protection unit that is designed to work best in conjunction with the seat belts. The seat belt keeps an occupant in the car in place during the sudden jolt or stop of the vehicle and ensures maximum efficiency of the airbag. During an accident, the airbag fills up quickly and provides a cushion for vehicle occupants, ensuring they are protected during the crash.

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Key insights and findings:

  • The frontal airbag segment led the automotive airbag and seat belt market and was worth $14.74 billion in 2020. The growth of this segment is primarily due to the increasing adoption of airbag systems. frontal air for driver safety and its mandates by regulatory authorities worldwide.

  • The 3-point seat belt segment accounted for the largest market share and was worth $20.54 billion in 2020. The demand for increased comfort and safety has primarily driven the proliferation of 3-point seat belts.

  • The passenger car segment accounted for a significant market share and was valued at USD 13.20 billion in 2020. The rapid growth in the use of passenger cars for transportation in developing and developed countries drives the growth of this segment.

  • The airbag segment accounted for the largest market share and was worth $14.86 billion in 2020. Growth in this segment is expected to be driven by safety standards associated with passive safety systems along with with advances in air bag materials.

  • The BEV segment accounted for the largest market share and was worth $12.77 billion in 2020. Growth in this segment is driven by factors such as support for government regulations and policies and improvement in battery technology .

  • Regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East and Africa. The Asia-Pacific region emerged as the largest market for the automotive airbag and seat belt market and was worth $11.60 billion in 2020. Rising safety concerns coupled with increased Incorporation of safety systems, predominantly airbags, in compact cars fuels the growth of the Asia-Pacific automotive airbag and seat belt market. The Middle East and Africa region is likely to post significant growth during the forecast period. This is mainly due to the significant increase in the trend among car manufacturers around the world to establish their manufacturing plants in the region.

Key players operating in the global Automotive Airbags and Seatbelts market include 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 and Seat Belts market, key vendors are now focusing on adopting prominent strategies such as recent developments, product innovation, mergers and acquisitions, joint ventures, collaborations, and partnerships.

  • For example, 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 seat belts. safety and airbags.

  • In November 2019, Autoliv Inc., the global provider of vehicle safety systems, announced the development of a new front center airbag designed to save lives in side-impact crash situations.

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Global Automotive Air Bag and Seat Belt Market by Air Bag Type:

  • frontal air bags

  • Air bags for the knees

  • Side and curtain airbags

Global Automotive Air Bags and Seat Belts Market by Type of Seat Belts:

  • 2-point seat belts

  • 3-point seat belts

Global Automotive Air Bag and Seat Belt Market by Vehicle:

  • passenger cars

  • light commercial vehicle

  • buses

  • trucks

Global Automotive Air Bag and Seat Belt Market by Component:

  • air bag inflator

  • Air bag control unit

  • airbag

Global Market for Automotive Airbags and Seatbelts by Electric Vehicle:

Global Automotive Air Bag and Seat Belt Market by Region:

  • North America

  • Europe

    • Germany

    • France

    • United Kingdom

    • Italy

    • Spain

    • Russia

  • Pacific Asia

    • Japan

    • China

    • India

    • Korea

    • Southeast Asia

  • South America

  • Middle East and Africa

    • United Arab Emirates

    • South Africa

    • Saudi Arabia

About the report:
This research report provides in-depth data on the major factors influencing the growth of the Automotive Air Bags and Seat Belts Market at Country and Local Level Market Size Forecast, in terms of value, market share by region and segment; regional market positions; growth opportunities by segment and country; Key company profiles, SWOT, product portfolio and growth strategies. It studies the essential aspects of the market, such as major players, expansion strategies, business models, and other market characteristics to improve market knowledge.

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