According to a market report by Lucintel, the future of the global automotive airbag market looks promising with opportunities in the SUVs and crossovers, large cars, and mid-size cars. The global automotive airbag market is expected to reach an estimated $28.0 billion by 2030 from $19.2 billion in 2024, at a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are governmental regulations on safety standard, increasing number of traffic fatalities, increasing awareness on vehicle safety, and development of low-cost airbags.
A more than 150-page report to understand trends, opportunity and forecast in automotive airbag market to 2030 by airbag type (front airbag, side airbag, curtain airbag, and knee airbag), by vehicle type (small cars, mid-size cars, large cars, MPV and LCV, SUV, and other vehicles), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that front airbag will remain the largest segment, and it is also expected to witness the highest growth over the forecast period due to increase in number of front crashes, which has increased the contribution of front airbags in the global automotive airbag market.
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Asia Pacific is expected to remain the largest market due to increasing light vehicle production; China will remain the leading market in terms of vehicle production. Asia Pacific and North America are expected to witness significant growth over the forecast period because of increasing penetration of airbag components in vehicles in North America due to strict vehicular safety standards & regulations.
Autoliv Inc., Joyson Safety Systems, ZF TRW Automotive Holding Corp, Toyoda Gosei Co., Ltd., Hyundai Mobis Co., Ltd. are the major suppliers in the automotive airbag market.
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Roy Almaguer
Lucintel
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Email: [email protected]
Tel. +1-972-636-5056
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