Automotive Side Airbags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Automotive Side Airbags Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : October, 2020 | Technology & Media | PPT format

Report Digest


Automotive Side Airbags Market: Snapshot

The global automotive side airbags market is foreseen to witness a substantial growth due to rising sale of luxurious cars with all the safety features to minimize the impact of accidents. Increasing awareness about automotive safety features is expanding requirements for automotive side airbags in basic level or entry-level vehicles. Besides, several government authorities over the world have implementedregulations and guidelines that require automotive producers to give passive security frameworks, including automotive side airbags, This is reinforcing the development of the automotive side airbags market.

Consistent advancements in technology in airbags are essentially contributing towards improved passenger security with versatile execution for various occupant sizes. Rising inclination towards cost-effective passive safety framework is exhibiting potential development prospects for the automotive airbag frameworks market size. Further, improvement of cost-productive airbag security advancements for side and frontal effect assurance is picking up a highmomentum.

Developing unmistakable quality of vehicle safety prerequisites and crash tests are essentially contributing toward expanded airbag infiltration over the forecast period. Global New Car Assessment Program (NCAP) is successfully contributing in the popularity of safety frameworks for lessening the street fatalities and extreme wounds. Expanding purchaser awareness with respect to wellbeing levels and highlights of tested vehicles will boost the market size.

Stringent necessities for full frontal effect, offset frontal effect, and side effect tests are likely to boost the automotive airbags market size over the anticipated time period. Government bodies are creating laws and guidelines for imposing inhabitant security frameworks.

Automotive Side Airbags Market Introduction

Automotive side airbags are inflatable devices deployed in automobiles to protect occupants or passengers and the driver from head and chest injuries in a side-impact crash. Previously, automotive side airbags were limited to premium and luxury cars. However, growing awareness about automotive safety features is increasing needs for automotive side airbags in mid-range or entry-level vehicles. Furthermore, many governing bodies across the world have imposed rules and regulations that require automotive manufacturers to provide passive safety systems, including automotive side airbags, are bolstering the growth of the automotive side airbags market.

Automotive Side Airbags Market – Notable Developments

  • ZF Friedrichshafen – a German car parts maker and a leading player in the automotive side airbags market – announced in November 2018, that it is designing ‘far-side’ and ‘dual contour’ airbags to cover extended passenger positions and improve occupant protection in far side crashes. The company announced that these innovative designs of automotive side airbags, which can be deployed immediately prior to a collision, are a part of its advanced external pre-crash system.
  • Toyoda Gosei Corporation Ltd. – a Japanese manufacturer in the automotive side airbags market – announced, in February 2018, its collaboration with Nippon Kayaku Co., Ltd. – a Japanese explosive manufacturing company – to scale higher in the airbags business. The company is aiming to capitalize on Nippon Kayaku’s expertise in inflator manufacturing to strengthen its market position by improving supply and quality assurance systems for airbags globally.
  • Takata Corporation – a Japanese manufacturer of automotive components as well as a leading player in the automotive side airbags market – was acquired by Joyson Safety Systems – an automotive safety systems manufacturer, in April 2018. Joyson Safety Systems received funding for the acquisition from a consortium led by Penske Automotive Group (PAG), a U.S.-based auto dealer, and Ningbo Joyson Electronic Corporation, a leading component supplier for global automotive manufacturers. 

Some of the most prominent competitors operating in the competitive landscape of global automotive side airbags market include –

  • Autoliv
  • ZF Friedrichshafen
  • Hyundai Mobis
  • Toyoda Gosei Corporation
  • Delphi Automotive
  • Neaton Auto Products Manufacturing Incorporation
  • Takata Corporation
  • Nihon Plast
  • TRW Automotive
  • Jiangsu Favour & Taihang Changqing
  • Jinheng Automotive Safety Technology
  • Yanfeng Automotive Trim Systems
  • BYD
  • East JoyLong Motor Airbag
  • S&T Motiv
  • Changzhou Changrui
  • Ashimori Industry
  • Joyson Safety Systems

Automotive Side Airbags Market Dynamics

Growing Awareness about Advanced Automotive Safety Features Triggers Automotive Side Airbags Market Growth

Consumers are becoming more conscious about driver’s safety as well as safety of the vehicle with an alarming rise in road accidents. Players in the automotive side airbags market identify that the importance of passive safety systems in a vehicle has increased among consumers. Willingness to pay more of premium and advanced safety features, such as automotive side airbags, is triggering innovations in vehicle safety systems, boosting growth of the automotive side airbags market. Leading players in the automotive side airbags market are adopting advanced technologies to further improve key attributes of automotive side airbags and scale higher in the highly competitive automotive side airbags market in the upcoming years. 

Burgeoning Sales of Passenger Cars with Advanced Safety Features Boosts Market Growth – Increased Household Income Plays an Important Role

As the negative effects of the Great Recessions continue to mitigate, the global economy has been recovering to a substantial rise in the disposable income of consumers across many countries. According to the ‘OECD Growth and economic well-being Quarterly Sector Accounts’, household income per capita in OECD countries increased by 0.7% in 2018 over 2017. The automotive side airbags market is benefitting from the significant rise in consumers disposable income, as it has improved the affordability of passenger cars with advanced safety features such as automotive side airbags. Thereby, increased awareness about the importance of automotive safety features coupled with increasing discretionary spending is expected to complement growth of the automotive side airbags market. 

Higher Deployment of Automotive Side Airbags in Passenger Cars – A Leading Trend in the Automotive Side Airbags Market

As the growth prospects of the parent automotive industry continue to influence growth of the automotive side airbags market, increased automotive production will continue to boost growth of the automotive side airbags market. The global automotive production picked up from over 73.2 million vehicles to more than 97.3 million vehicles during the period 2007-2017, according to the recent statistics published by the International Organization of Motor Vehicle Manufacturers (OICA).

While the positive growth of the automotive industry continues to complement developments in the automotive side airbags market, leading market players are focusing on manufacturing automotive side airbags for passenger car, as passenger cars held a whopping 75% share in the global automotive production as well as sales. Taking into account the recent developments in the passenger car market segment, leading players in the automotive side airbags market are adopting advanced technologies to diversify their product range for high volume mid-segment passenger cars. 

Automotive Side Airbags Market Segmentation

Based on the product type, the automotive side airbags market is segmented into

  • Side Torso Airbags
  • Side Tubular Airbags or Curtain Airbags

Based on its applications, the automotive side airbags market is segmented into

  • Commercial Vehicles
  • Passenger Cars

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?