The report “Automotive Airbags & Seatbelts Market By Airbag Type (Front, Knee and Side & Curtain), Seatbelts (2-point and 3-point), Vehicle (PC, LCV, Buses and Trucks), Electric Vehicle, Component (Airbag Inflator, ACU and Airbag) and Region – Global Forecast to 2025″ is estimated to be USD 28.2 billion in 2020 and is projected to reach 40.4 billion by 2025, at a CAGR of 7.5%. The market is driven principally by the increasing demand for a safer, efficient, and convenient driving experience and stringent safety regulations across the globe
The 3-point seatbelts segment to hold the largest share of the automotive airbags & seatbelts market, by seatbelt type
The government mandates for the installation of 3-point seatbelts will contribute to the growth of the segment. 3-point seatbelts protect against front-end collision. The growth of this segment can be attributed to their effectiveness over 2-point seatbelts in terms of safety.
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Hybrid Electric Vehicle (HEV) to acquire the largest market share
HEV is estimated to hold the largest share of the automotive airbags & seatbelts market, by electric vehicle. Stringent emission norms, environment safety, vehicle electrification, and government regulations are expected to boost the demand for HEV airbags & seatbelts. Governments around the globe are encouraging the sale of electric vehicles by offering incentives to customers and subsidies to electric vehicle OEMs. This, in turn, will help drive the automotive airbags & seatbelts industry for electric vehicles.
Key Market Players
The automotive airbags & seatbelts market is dominated by a few globally established players such as Autoliv (Sweden), Joyson Safety Systems (US), ZF Friedrichshafen (Germany), Toyota Gosei (Japan), Hyundai Mobis (South Korea), and Denso (Japan).
Critical Questions:
- How will the government mandates impact the overall passive safety system market in the long term?
- What impact will advancements of active safety systems have on the overall automotive airbags & seatbelts market?
- What impact will external airbags have on automotive airbags & seatbelts market?
- What are the upcoming trends in the automotive airbags & seatbelts market? What impact would they make in the coming years?
- What are the key strategies adopted by the leading players in this market?
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