Automotive Airbag Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Automotive Airbag Market was valued at ~US$ 12 billion in 2020 and is anticipated display a CAGR of around ~7.9% over the forecast period (2021-2027). One of the car safety measures is the airbag. The flexible fabric envelope or cushion of an automotive airbag is designed to inflate in the event of a vehicle collision while driving. The primary function of an automotive airbag is to cushion the driver and protect the body when the body collides with internal car components such as the steering wheel, wheel, or window. Modern vehicles are equipped with numerous airbags that are positioned on the driver’s side and at the front of the car. As per WHO, every year the lives of approximately 1.3 million people are cut short because of a road traffic crash. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability because of their injury.

Insights Presented in the Report

“Amongst Type, Front Airbag segment dominated the market in 2020”

Based on type, the market is segmented into Front, Side, Knee and Curtain. The Front airbag segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. Because the majority of incidents are head-on collisions, frontal airbags are the most effective in reducing fatalities. The curtain-type category is also predicted to drive market expansion. These airbags minimize the risk of severe head injuries for passengers sitting on the side of the vehicle by around half.

“Amongst Material, Nylon segment dominated the market in 2020.”

Based on Material, the market is segmented into Polyester Fiber, Nylon and others. The nylon segment generated revenue of USD XX billion in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. The Nylon demand is higher due to its qualities such as high strength-to-weight ratio, good chemical and thermal stability, durability, fine drape, abrasion resistance, and high flexibility

“Amongst Vehicle, Passenger segment dominated the market in 2020.”

Based on vehicle, the market is segmented in passenger and commercial. The passenger segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. Increased passenger car production around the world, as well as evolving technology that has already become standard in many vehicles, are projected to reduce the number of injuries and fatalities caused by so-called back over crashes in passenger vehicles

“Amongst Sales Channel, OEM segment dominated the market in 2020.”

Based on sales channel, the market is segmented in Original Equipment Manufacturer (OEM) and Aftersales. The OEM segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. Demand for safety innovation in passenger cars is responsible for airbag market growth as increasing accidents due to human error in driving adds fuel to the growth

“Asia-Pacific represents as the largest market.”

For a better understanding of the market adoption of Automotive Airbag, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Rest of APAC), and Rest of World. Asia Pacific holds the largest share in the market and is expected to grow at a higher rate during the forecasted period 2021-2027. One of the major factors of Asia-Pacific growth is the rising sales of vehicles in the region. Some of the major players operating in the market includes Robert Bosch GmbH, Aptiv Inc., Autoliv Inc., Continental AG, Delphi Automotive, Hyundai Mobis Co. Ltd, Nihon Plastic Company Co. Ltd, Takata Corporation, Toyoda Gosei and ZF Friedrichshafen etc.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Automotive Airbag Market were the three major steps undertaken to create and analyze the adoption of Automotive Airbag across various regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Automotive Airbag Market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Automotive Airbag, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are by type, by material, by vehicle, and by sales channel. Further regional & country-level analyses were conducted to evaluate the overall adoption of the Automotive Airbag Market in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing demand for safety features in vehicles for Automotive Airbag etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (US$) and the adoption rate of Automotive Airbag across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Automotive Airbag Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Automotive Airbag market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type, material, vehicle, and sales channel type does major country/region globally. 

The main objective of the Automotive Airbag Market Study

The current & future market trends of Automotive Airbag were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional & country level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Automotive Airbag in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include position, vehicle, and sales channel
• Defined analysis of the regulatory framework for the Global Automotive Airbag industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Automotive Airbag for the major regions & countries
• Major regions studied in the report include North America (US, Canada, Rest of North America), Europe (Germany, United Kingdom, France, Italy, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific), and Rest of World
• Company profiles of the Automotive Airbag Market players and the growth strategies adopted by them to sustain in the fast-growing market
• Deep dive regional & country level analysis of the industry