Airbags and seatbelts play vital roles in automotive safety, protecting vehicle occupants in various applications. Airbags rapidly inflate upon impact, cushioning passengers from collisions. Seatbelts secure occupants in place during sudden stops, reducing injuries. These safety features are essential in automobiles, ranging from cars and trucks to buses and airplanes. Their features include automatic tensioning systems, crash sensors, and pretensions. By mitigating the impact of accidents, airbags, and seatbelts ensure enhanced safety and minimize the risk of severe injuries in diverse driving scenarios.
According to Data Bridge Market Research, the Global Airbags and Seatbelts Market accounted at 30.37 billion in 2021 and is expected to reach a value of USD 54.97 billion by 2029. The market is expected to grow with a CAGR of 7.70% in the forecast period of 2022 to 2029.
“Expanding automotive industry boosts the market’s growth”
The airbags and seatbelts market experiences significant growth due to the expanding automotive industry. As vehicle production and sales increase, the demand for safety components rises in tandem. Airbags and seatbelts play crucial roles in ensuring passenger safety, reducing the impact of collisions and minimizing injuries. Governments and regulatory bodies worldwide mandate safety measures in automobiles, further driving the market's growth. With a strong focus on passenger safety and a rise in vehicle ownership, the airbags and seatbelts market continues to flourish.
What restraints the growth of the global airbags and seatbelts market?
“Maintaining a balance between cost and quality restraints the market’s growth”
Maintaining a balance between cost and quality poses challenges for the airbags and seatbelts market. Manufacturers face pressure to produce cost-effective safety components while ensuring high-quality standards to meet safety regulations. Cost-cutting measures might compromise the performance and durability of these critical safety features, leading to reduced market growth. Striking the right balance between affordability and effectiveness is crucial for sustained growth, as consumers prioritize safety without compromising on product quality and reliability.
Segmentation: Global Airbags and Seatbelts Market
The global airbags and seatbelts market is segmented on the basis of airbag type, seatbelts, vehicle, component, and distribution channel.
- On the basis of airbag type, the airbags and seatbelts market is segmented into front, knee and side, and curtain.
- On the basis of seatbelts, the airbags and seatbelts market is segmented into 2-point and 3-point.
- On the basis of vehicle, the airbags and seatbelts market is segmented into PC, LCV, buses, and trucks
- On the basis of component, the airbags and seatbelts market is segmented into airbag inflator, ACU, and airbag.
- On the basis of distribution channel the market is segmented into OEMs and aftermarket.
Regional Insights: North America dominates the global Global Airbags and Seatbelts Market
North America dominates the airbags and seatbelts market due to a growing emphasis on safety and an increasing adoption of safety systems. Concerns over road safety and accident prevention have driven the incorporation of advanced safety technologies in vehicles, making them more equipped to handle potential hazards and enhancing overall safety standards within the region.
Asia-Pacific (APAC) is expected to witness significant growth during the forecast period of 2022 to 2029 because of the presence of stringent regulations in the region has led to a heightened focus on safety. Compliance with these regulations requires the incorporation of advanced safety systems in vehicles, promoting a safer driving environment and encouraging the adoption of safety technologies.
To know more about the study visit, https://www.databridgemarketresearch.com/de/reports/global-airbags-and-seatbelts-market
Recent Developments
- In June’2021, ZF, A prominent leader in driveline, security technology, and chassis solutions has announced an intensified focus on India. They have made a substantial investment of 200 million Euros to integrate and align their business sector strategies in the country. This move signifies their commitment to expanding their presence in the Indian market and leveraging the region's potential for growth and development.
- In January’2021¸ Aptiv PLC has unveiled location controllers, a cutting-edge technology that facilitates the seamless distribution of high-speed and dynamic data between sensors and components in vehicles. These controllers effectively separate the input/output (I/O) functions from the car's computer, enhancing efficiency and performance in automotive systems.
The Prominent Key Players Operating in the Global Airbags and Seatbelts Market Include:
- HYUNDAI MOBIS (South Korea)
- TOYODA GOSEI Co., Ltd. (Japan)
- Bosch Limited (Germany)
- Continental AG (Germany)
- ZF Friedrichshafen AG (Germany)
- Autoliv Inc. (Sweden)
- Joyson Safety Systems (U.S.)
- Aptiv (Ireland)
- DENSO CORPORATION (Japan)
- TOSHIBA DEVICE CORPORATION (Japan)
- Infineon Technologies AG (Germany)
- Ashimori Industry Co., Ltd. (Japan)
- TOKAIRIKA, CO., LTD. (Japan)
- Sumitomo Electric Industries, Ltd. (Japan)
- RHODIUS GmbH (Germany)
- Delphi Technologies (U.K.)
Above are the key players covered in the report, to know about more and exhaustive list of global airbags and seatbelts market companies contact, https://www.databridgemarketresearch.com/de/contact
Research Methodology: Global Airbags and Seatbelts Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
