Automotive Airbags and Seat belts Market

Global Automotive Airbags and Seat Belts Market (2023 to 2028)

The global automotive airbags and seat belts market is projected to be valued at USD 37.22 billion in 2023 and is anticipated to reach a valuation of USD 54.18 billion by 2028 and is predicted to register a CAGR of 7.80% during the forecast period 2023 to 2028. 

Traveler and driver security are of the utmost significance to vehicle makers, and because of this, OEMs are securing innovatively progressed airbags and safety belts.

MARKET DRIVERS:

The growing interest in a more secure, productive, and advantageous driving experience, stringent security guidelines over the globe, and government guidelines relating to vehicle safety are propelling the growth of the global market. The governments of different nations are attempting various activities with the target of upgrading security awareness among the purchasers, which is further driving the growth of the global market.

Rising interest in upgraded security among vehicle customers is pressurizing the vehicle OEMs to equip the vehicles with cutting-edge airbag frameworks, and safety belts are pushing the market for Automotive Airbag and Seatbelt market in the ongoing occasions. Also, simple retrofitting of these frameworks is additionally driving the Automotive Airbag and Seatbelt Market at present. In addition, the quantity of vehicle manufacture is expanding quickly over the globe, which is affecting the airbag frameworks and seat belt framework makers to impact the vehicle OEMs with their upgraded advancements. Moreover, different governments are executing rules and guidelines overall. For example, the New Car Assessment Program (NCAP), which aims to improve the security of drivers and travelers, is likewise boosting the automotive airbag and seatbelt market.

MARKET RESTRAINTS:

Exorbitant expenses related to its establishment will represent a danger to the business members over the estimated period. Makers are ceaselessly concentrating on decreasing the cost of the items. They are viably taking a shot at the original plan and material that gives security and solace to the customer and also low cost.

REPORT COVERAGE:

This research report on the global automotive airbags and seat belts market has been segmented & sub-segmented based on the product type, type, and region. 

Global Automotive Airbags and Seat Belts Market - By Type:

• Curtain
• Front
• Knee
• Side

Global Automotive Airbags and Seat Belts Market - By Seat Belt Type:

• Two Point
• Three-Point
• Others

The side airbag sector drove the market in 2017 and was estimated at USD 11.57 billion. This can be ascribed to the additional safety and security highlights offered by side airbags, as they are intended to provide insurance for the three primary areas of an inhabitant's body, namely, the head, torso, and chest. Also, they work along the front airbags to limit wounds sustained during a mishap. 

In any case, the knee airbag portion is foreseen to encounter the quickest development over the gauge time frame. This is primarily because of the way that these items effectively ensure the legs of front passengers and go about as a substitution for the bolster seat, ordinarily behind the driver. Furthermore, they offer security to the kneecaps, one of the most sensitive parts of the body. 

The three-point seat belt fragment drove the car seat belt market and was valued at USD 20.16 billion in 2017. The portion gained over 90% of the total market share and is likely to hold its strength over the figure time frame. This can be ascribed to the additional security offered by these seat belts. They help protect the passenger's chest area and pelvis and limit wounds.

Global Automotive Airbags and Seat Belts Market - By End Use:

• Airbag End Use
• Seat Belt End Use

Global Automotive Airbags and Seat Belts Market - By Vehicle Type:

• Passenger Vehicle
• Commercial Vehicle

The passenger vehicle portion is the biggest section of the global automotive airbag and seat belt market. The division was valued at USD 32.09 billion in 2017 and is foreseen to observe critical development over the figure time frame. The section generally encounters appeal from passenger vehicles, which incorporate economy vehicles, smaller vehicles, minivans, SUVs, and premium and extravagance vehicles. 

The commercial vehicle portion is likewise expected to observe significant development attributable to the usage of stringent guidelines by governments over the globe. Moreover, the vehicle business has detailed recuperation in the manufacture of commercial vehicles in numerous parts of the world.

Global Automotive Airbags and Seat Belts Market – By Region:

• North America 
• Europe 
• Asia Pacific 
• Latin America 
• Middle East and Africa 

North America was the predominant local market and was valued at USD 13.52 billion in 2017, which can be credited to the strict guidelines with respect to street security in the U.S. and Canada. Moreover, the vehicle business in these nations has recuperated from monetary emergencies, making them one of the significant markets. Europe has encountered monetary destruction and is right now in its recuperation stage. The industry is relied upon to showcase steady development in the area. Europe is a significant market for the Automotive Airbags and Seat Belt market and is the center point for some safety framework providers. The Asia Pacific is relied upon to enlist the most elevated CAGR during the conjecture time frame. The district contains developing countries, for example, India, China, and Thailand, which are progressively executing street security guidelines to bring down the number of fatalities caused by street mishaps.

MARKET KEY PLAYERS:

Some of the major players in the global automotive airbags and seat belts market are Infineon Technologies, Denso, Toyoda Gosei Co, ZF Friedrichshafen, Toshiba, Aptiv, Continental, Hyundai Mobis, Takata Corporation, Robert Bosch, Autoliv, Joyson Electronic, Delphi Automotive PLC, TRW Automotive Holdings Corporation, GWR Safety Systems, Rhodius GmbH, Telamon, Klippan, Sumitomo Electric, Ashimori Industry.

RECENT DEVELOPMENTS IN THIS MARKET:

• In Infineon's portfolio, you'll find profoundly incorporated arrangements – the most significant level of coordination available – for reversible seat belt petitioners. Additionally, they'll spare you significant space and regard your financial limit.
• Toyoda Gosei Co., Ltd. and Tokai Rika Co., Ltd. reported that they have agreed to work together on the turn of events, production, and sale of integrative security frameworks, including airbags and seat belts.
• ZF is creating intelligent assist frameworks that help empower vehicles to identify risks sooner; however, they are structured with the possibility of being quicker and superior to human responses. Progressively advanced airbags and safety belt frameworks are assisting with giving improved inhabitant security in instances of crisis.