“Growing government regulations pertaining to vehicle safety and increasing demand for a safer, efficient, and convenient driving experience are set to drive the automotive airbags & seatbelts market”
The global automotive airbags & seatbelts market is estimated to be USD 61.38 billion in 2018 and is projected to reach USD 135.43 billion by 2025, growing at a CAGR of 11.97% during the forecast period. The automotive airbags & seatbelts market has promising growth potential due to several factors, including the stringent safety regulations pertaining to vehicle safety across the globe; increasing demand for a safe, efficient, and convenient driving experience; and rising disposable income in emerging economies. On the other hand, Active safety systems are essentially safety equipment that minimize the chances of accidents before they even occur. Anti-lock braking systems (ABS), lane departure warning systems (LDWS), automatic emergency braking (AEB), blind spot detection (BSD), and forward collision warning (FCW) some common active safety systems. On the other hand, passive safety systems are used to protect passengers in the event of an accident. Since active safety systems help prevent vehicle crashes, the increasing development of these systems across the globe is expected to impact negatively the market for passive safety systems, such as airbags and seatbelts, in the coming years.
“side & curtain airbags: The fastest growing segment of the automotive airbags & seatbelts market, by airbags type “
Side & curtain airbags are the fastest growing segment of the automotive airbags & seatbelts market, by airbags type. Side airbags are designed to help protect an adult’s chest in a serious side-impact crash. These are mounted on the side of the seat or on the door, usually on the roof rail above the side windows. In the event of a side-impact crash, curtain airbags are used to protect an adult’s head. According to Insurance Institute for Highway Safety, head-protecting side airbags reduce driver fatality risk by 45%. This effectiveness will help to grow the side & curtain airbags market in near future.
“3-point seatbelts: The fastest growing seatbelt type of the automotive airbags & seatbelts market”
The 3-point seatbelt is estimated to be the fastest growing segment of the automotive airbags & seatbelts market, by seatbelt type. 3-point seatbelts are effective at reducing fatalities for driver as well as passengers in vehicles. The governments of various counties have mandated the use of 3-point seatbelts in the vehicle. Their effectiveness over 2-point seatbelts help to drive the 3-point seatbelts market.
“Asia Pacific: The fastest growing region in the automotive airbags & seatbelts market”
The Asia Pacific region is estimated to dominate the automotive airbags & seatbelts market and is projected to grow at the highest CAGR during the forecast period. The market growth in this region can be attributed to the improving socio-economic conditions in emerging economies such as China and India. The increasing number of road accidents and increased consumer concern over safety is also driving the automotive airbags & seatbelts market in the region.
The study contains insights of various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.
The break-up of the primaries is as follows:
- By Company Type– Tier 1- 45%, Tier 2- 35% Tier 3 - 20%
- By Designation? C level - 35%, D level - 25%, Others - 40%
- By Region? North America - 40%, Europe - 30%, Asia Pacific - 25%, RoW - 5%
Major players profiled in the report are:
Tier I suppliers:
• Autoliv (Sweden)
• ZF Friedrichshafen (Germany)
• Denso (Japan)
• Aptiv (UK)
• Joyson Electronics (China)
The report segments the automotive airbags & seatbelts market and forecasts its size, by volume and value, on the basis of region (Asia Pacific, Europe, North America, and RoW), airbags type (frontal, knee, and side & curtian ), seatbelts type (2-point and 3-point), vehicle (PC, LCV, Buses, and Trucks), electric vehicle (BEV, HEV, FCEV, and PHEV).
The report also provides a comprehensive review of market drivers, restraints, opportunities, and challenges in the automotive airbags & seatbelts market. The report also covers qualitative aspects in addition to the quantitative aspects of these markets.
Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall automotive airbags & seatbelts market and its subsegments. This report will help stakeholders to understand the competitor landscape better and gain insights to position their businesses better and devise suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.