Latest News - Automotive Airbag Sensor Market: Passenger cars are expected to lead the Application segment during 2024-2028

The Automotive Airbag Sensor Market is being driven by Production shift to low-cost countries

The Automotive Airbag Sensor Market is expected to grow at a CAGR of 6.22% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 227 million. The automotive airbag sensor market is undergoing significant transformation, driven by technological advancements from industry leaders like Robert Bosch GmbH and Analog Devices Inc. Their focus on creating more sophisticated and efficient airbag sensors is raising safety benchmarks and offering superior protection for vehicle occupants. Innovations include AI, machine learning, and sensor fusion for enhanced accuracy and quicker response times during crises. The relentless pursuit of miniaturization and integration results in sleek, lightweight designs that maintain safety while boosting overall vehicle productivity. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • Passenger cars
  • LCVs
  • MCVs and HCVs
• End-user
  • OEMs
  • Aftermarket
• Geography
  • APAC
    • China
    • Japan
    • South Korea
  • Europe
    • Germany
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Production shift to low-cost countries
• Enhanced vehicle safety with more airbags
• Growing importance of crash tests and NCAP ratings

However, the market also witnesses some limitations, which are as follows:

• Sharp decline in automobile production and sales
• Increasing cost pressure faced by OEMs
• Lack of regulation for airbags in medium and heavy-duty vehicles

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Market Scope in Automotive Airbag Sensor Market Research Report

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Research Analysis Overview

The Automotive Airbag Sensor Market encompasses a range of electrical and mechanical sensors essential for the deployment of airbags in vehicles. These sensors include Airbag Sensors, Brake Sensors, Pressure Sensors, and Impact Sensors. Airbag Sensors are categorized into types such as Front Airbags, Rear Airbags, Knee Airbags, and Side Airbags. Mechanical Sensors detect physical changes, while Electrical Sensors use electrical signals to monitor vehicle conditions. The demand for these sensors is influenced by factors like Per Capita Income, Construction Materials, and the need for Last-Mile Connectivity. Lightweight transportation solutions and the quest for improved safety features have led to a significant increase in the usage of airbags and sensors. Consequently, the Fatal Accident Rates have shown a downward trend, underscoring the importance of these technologies in the automotive industry.

Market Research Overview

The automotive airbag sensor market caters to businesses producing sensors essential for airbag deployment systems in various automobile segments, including passenger cars, electric vehicles, commercial vehicles, heavy-duty vehicles, and two-wheelers. Market expansion is fueled by the rising demand for advanced safety features, particularly in the growing electric vehicle and passenger car sectors, leading to increased production and integration of electronic control units and airbag sensors. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/