The automotive airbags & seatbelts market is projected to grow at a CAGR of 11.97% during the forecast period to reach USD 135.43 billion by 2025 from an estimated USD 61.38 billion in 2018. The government regulations pertaining to vehicle safety and the demand for a safer, efficient, and convenient driving experience are the key factors driving the market growth.
New product launch and development is the key strategy adopted by market players to achieve growth in the automotive airbags & seatbelts market. ZF Friedrichshafen (Germany), Toyoda Gosei (Japan), Hyundai Mobis (South Korea), and Infineon Technologies (Germany) and are some of the leading tier I suppliers who adopted these strategies in the automotive airbags & seatbelts market.
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Target Audience
- Automobile manufacturers
- Distributors and suppliers of automotive airbags & seatbelts
- Industry associations and automotive experts
- Automotive airbags & seatbelts manufacturers
- Automotive component manufacturers
- Electric vehicle manufacturers
- Automotive technology providers
- Tier 1, Tier 2, and Tier 3 suppliers
Expansion is the second most adopted strategy by the key players in the automotive airbags & seatbelts market. The tier I suppliers such as ZF Friedrichshafen (Germany), Denso (Japan), Continental (Germany), Robert Bosch (Germany), and Toyoda Gosei (Japan) are the major tier I suppliers that have adopted this strategy to achieve growth in the automotive airbags & seatbelts market.
Autoliv (Sweden) was formed through the merger of the Swedish company Autoliv AB and the US-based Morton Automotive Safety Products, Inc. The company has two operating segments, namely, Passive Safety and Electronics. Autoliv’s Electronics segment deals with both passive safety and active safety electronics. The passive safety segment includes airbags and seatbelts and components and active safety products include automotive radars, night driving assist, camera-based vision systems, brake controls, and other active safety systems. The company has 22 technical centers in 10 countries. The company’s operations, which include component as well as assembly factories, are spread across 27 countries. As of December 2017, it had 72,000 employees. In September 2017, Autoliv collaborated with Adient for the development of Autoliv’s safety components for the non-traditional seating arrangements of future cars.
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The ecosystem of the automotive airbags & seatbelts market consists tier I suppliers such as Autoliv (Sweden), ZF Friedrichshafen (Germany), DENSO (Japan), Aptiv (UK), and Joyson Electronics (China).
