Automotive Side Airbag Market

The global Automotive Side Airbag market was valued at USD 24.35 Billion in 2020 and is projected to reach USD 37.12 Billion by 2028, growing at a CAGR of 5.41%% from 2021 to 2028.

The airbag is one of the important automotive safety devices; the automotive airbag consists of a cushion or flexible fabric envelope that is designed to inflate at the time of vehicle collision while driving. The main purpose of an automotive airbag is to cushion the driver during vehicle crash and protect the body when the body strikes the interior objects of the vehicle such as the steering, window, or wheel. Automotive airbags are one of the key passive safety systems in an automobile with the growing number of road accidents that have led to an increase in the adoption of airbags in vehicles. To minimize the fatality rate during accidents, government authorities have implemented or are implementing mandatory adoption of airbags in vehicles.

The global Automotive Side Airbag market is segmented based on by Product Types, Application, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Automotive Side Airbag  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The implementation of regulations by government authorities for vehicle safety is expected to augment the global automotive side airbags market. Additionally, automotive manufactures are launching vehicle models with dual airbags that provide safety to both driver and front-seat passengers. Moreover, the governments are continuously accentuating on safety and growing awareness among the consumers has forced the automakers to introduce the safety equipment in the vehicle. Thus, the growing adoption and awareness about safety are expected to boost the automotive side airbag market in the forecast period.

The demand for efficient driving is increasing enormously as the buying power of customers is increasing across the globe. With rise in adoption of premium vehicles, the manufacturers are continually improving the quality of their safety products. By improving the thermal properties of the airbags system inflates the significantly higher volume of air for offering superior protection during the event of a crash. Moreover, the airbag fabric requires withstanding this heat without tearing. The thin layer of coating material such as silicone and neoprene will protect the fabric from the heat on account of excellent thermal resistance properties. The growing demand for premium vehicles.

The major factor that is expected to hamper the growth of the automotive side airbags market is the high replacement cost of the airbags. Similarly, the technologically advanced side airbags require a high cost of maintenance which is also projected to hamper the growth of the market. In regions, such as United States and Canada, due to the high replacement cost, counterfeit airbag market is burgeoning all over North America which is a major restraint for the market growth.

Product Types  Analysis: Preview

On the basis of Product Types, the market is segmented into Side airbag, Knee airbag, Rear airbag, Pedestrian airbag. Side Airbags  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Side Airbags in emerging economies in Asia Pacific region.

Application Analysis: Preview

Based on Application, the market is segmented into Passenger Car, Commercial Vehicle. Passenger Cars accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

On the basis of region, the global Automotive Side Airbag market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the global Automotive Side Airbag market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. U.S. is one of the most profitable countries for companies operating in the market. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Automotive Side Airbag market are Toyoda Gosei Co Ltd., East Joy Long Motor Airbag, Daicel Corporation, Porcher Industries SA, Neaton Auto Products Manufacturing, Hyundai Mobis, Key Safety Systems, Denso Corporation, TRW Automotive Holdings, Delphi Automotive Plc, ZF Friedrichshafen AG, Robert Bosch GMBH, Autoliv, Takata Corporation.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.