Global Airbag Market Poised to Hit $47 Billion by 2030, Driven by Safety Innovations and Rising Auto Demand

OREGON, DE, UNITED STATES, February 27, 2025 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Airbag Market," by Module, by Type, by Vehicle Type, by Material, by Sales Channel: Global Opportunity Analysis and Industry Forecast, 2020-2030," The airbag market size was valued at $27.6 billion in 2020, and is estimated to reach $47.0 billion by 2030, growing at a CAGR of 5.7% from 2021 to 2030.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/1851

Major determinants of the market growth

Increase in consumer awareness toward vehicle safety features, surge in number of road accidents, and growth of the automotive sector along with competition among car manufacturers have boosted the growth of the global airbag market. However, high replacement cost and advanced technological features that increase car prices hinder the market growth. On the contrary, introduction of airbags in two-wheelers and low production cost in developing nations would unlock new opportunities in the future.

An airbag is a vehicle safety device consisting of a flexible fabric envelope or cushion designed to punctually inflate during a collision and deflate after the accident. Automotive airbags are deployed with a sensor that activates the airbags according to the type and severity of the collision. Modern vehicles consist of airbag control units that monitor different parts such as wheel speed, side door, and brake pressure. Moreover, the efficiency of these airbags to decrease the impact of crashes is enhanced due to ongoing & innovative advancements in airbag technology. For instance, in 2019, HYUNDAI MOBIS revealed its new safety technology sensors combined with two separate ECUs (electronic control units) for airbags and electronic seatbelts into a single unit for enhanced protection of passengers in different driving situations.

𝐓𝐡𝐞 𝐜𝐨𝐦𝐦𝐞𝐫𝐜𝐢𝐚𝐥 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐩𝐨𝐫𝐭𝐫𝐚𝐲 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐭𝐡𝐫𝐨𝐮𝐠𝐡 𝟐𝟎𝟑𝟎

𝐁𝐲 𝐯𝐞𝐡𝐢𝐜𝐥𝐞 𝐭𝐲𝐩𝐞, the commercial vehicle segment is projected to manifest the highest CAGR of 9.3% from 2021 to 2030, due to rise in government norms toward introducing airbags in commercial vehicles. However, the passenger vehicle segment held the largest share in 2020, accounting for more than 90% of the global airbag market, due to rise in availability of passenger cars across the globe.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/airbag-market/purchase-options

𝐄𝐮𝐫𝐨𝐩𝐞, 𝐟𝐨𝐥𝐥𝐨𝐰𝐞𝐝 𝐛𝐲 𝐀𝐬𝐢𝐚-𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐚𝐧𝐝 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚, 𝐭𝐨 𝐦𝐚𝐧𝐢𝐟𝐞𝐬𝐭 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐂𝐀𝐆𝐑 𝐛𝐲 𝟐𝟎𝟑𝟎

𝐁𝐲 𝐫𝐞𝐠𝐢𝐨𝐧, the market across Europe, followed by Asia-Pacific and North America, is anticipated to showcase the highest CAGR of 6.5% during the forecast period, owing to increase in government norms for ensuring safety of vehicles in the region. However, the global airbag market across Asia-Pacific dominated in 2020, accounting for nearly half of the market, owing to rise in production of vehicles across the region.

Factors such as a rise in consumer awareness toward vehicle safety features, growth in the automotive sector, and competition among OEMs are expected to drive the growth of the airbag market. In addition, the rise in the number of fatal road accidents and the government's implementation of strict safety regulations to prevent them are anticipated to boost the market's growth. However, advanced technological features that increase car prices and high replacement costs restrain the market growth. Furthermore, the introduction of airbags in two-wheelers and low production costs in developing nations provide lucrative growth opportunities for the market players.

𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/1851

𝐌𝐚𝐣𝐨𝐫 𝐦𝐚𝐫𝐤𝐞𝐭 𝐩𝐥𝐚𝐲𝐞𝐫𝐬

Autoliv Inc.
Joyson Safety Systems
Hyundai Mobis
Daicel Corporation
Toray Industries, Inc.
Rane Group
Kolon Industries, Inc.
Toyoda Gosei Co., Ltd.
Neaton Auto Products Manufacturing, Inc.
ZF Friedrichshafen AG.

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