Latest News:- Automotive Airbag Market: Front airbag is expected to lead the Type segment during 2024-2028

Automotive Airbag Market to grow at a CAGR of 7.49% during 2024-2028

The Automotive Airbag Market is expected to grow at a CAGR of 7.49% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5889 million. In the automotive industry, there is a relentless focus on innovation and advancement in airbag technology to ensure optimal safety performance. Traditional airbags, which deploy with maximum force during a collision, have been surpassed by multi-stage airbags. These sophisticated airbags adapt to the severity of the impact, deploying with varying degrees of force to minimize injury risk. Moreover, adaptive airbag systems utilize sensor data to assess the position and size of vehicle occupants. By customizing deployment strategies based on this information, airbag systems can effectively optimize protection for individuals of varying sizes and seating positions. 

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The Front airbag subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Front airbag subsegment will lead the Type segment during 2024 and 2028 Front airbags, a crucial safety feature in modern automobiles, are mandated by regulatory authorities in numerous countries due to their effectiveness in reducing injuries during frontal collisions. Deploying from the steering wheel and dashboard, these airbags shield occupants from head, chest, and upper body injuries. Compliance with safety regulations is prioritized by automakers to maintain a positive brand image and consumer trust. Vehicles equipped with advanced front airbags often achieve superior safety ratings, significantly influencing purchasing decisions. These regulations ensure minimum safety standards are met, thereby prioritizing occupant protection.

Here are the various ways based on which the market is segmented: 

• Type
  • Front airbag
  • Side airbag
• Vehicle Type
  • Passenger cars
  • Commercial vehicles
• Geography
  • APAC
  • North America
  • Europe
  • South America
  • Middle East and Africa

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• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
• Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
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There are several factors that are causing the market to flourish rise in global vehicle production

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Automotive Airbag Market is a significant segment of the mobility safety solutions industry, focusing on providing advanced safety technologies to automotive manufacturers. Steering wheels and seatbelts are traditional safety devices, but airbags have become essential components for Head & neck protection in Passenger cars, Buses, and Light commercial vehicles. Automotive airbags come in various types, including Side & curtain airbags, which offer enhanced safety during Rollover crashes. Stringent safety regulations and consumer awareness have led to an increase in the demand for these safety devices. Automotive airbags are made from high-strength materials, ensuring optimal performance during collisions. The supply chain for airbags involves several components, including raw materials and manufacturing processes. Any disruption in the supply chain can significantly impact the automotive industry. Customized curtain airbags are becoming increasingly popular, offering improved safety for passengers in various seating positions. Driving experience and safety regulations continue to be key factors driving the growth of the automotive airbag market. In conclusion, the automotive airbag market plays a crucial role in road safety by providing essential safety devices to automotive manufacturers. The focus on advanced safety technologies and stringent safety regulations will continue to drive the market's growth, ensuring the protection of passengers in various types of vehicles.

Market Research Overview

The global automotive components and equipment market encompasses businesses producing parts and accessories for various vehicle types, including passenger cars (PCs), electric vehicles (EVs), commercial vehicles (CVs), heavy-duty vehicles, off-road vehicles, motorcycles, scooters, quad bikes, and three-wheelers. According to Technavio, the market size is determined by the consolidated revenue generated by automotive components and equipment manufacturers. Key growth drivers for this market include the rising demand for electronic components in automobiles, such as electronic control units (ECUs), and the increasing sales of EVs, motorcycles, and PCs.

The Automotive Airbag Market is experiencing significant growth, fueled by the rise in global vehicle production. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
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