The global demand for the Automotive airbag market is expected to hit USD 30.2 billion in 2020 and USD 43.4 billion by 2027, increasing at a CAGR of 8.8 percent over the forecast period. The demand will expand as more people use airbags and as new versions of airbag design and technologies are developed. The need for vehicle airbags and seatbelts is being driven by various developments in vehicle passive safety technologies and increased demand for a cleaner, more reliable, and comfortable driving experience.

Pedestrian airbags, exterior airbags, rear-seat airbags, and roof airbags, as well as the technical advances in vehicle airbags, are expected to fuel the market growth during the projected timeframe.

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Market Drivers

• Updates in stringent vehicle safety norms and test
• Developments of advanced airbag systems
• Increasing passenger vehicle sales and production
• Growing commercial vehicle sales
• Presence of trade markets and automotive distributors
• Government regulations pertaining to vehicle safety
• Growing demand for safer and more efficient driving experience
• Increasing consumer awareness regarding safety to drive market

Hyundai Mobis developed the world’s first panoramic roof airbag. The safety device is designed to prevent occupants from being ejected from the vehicle through the glass roof at the time of a rollover.

Increasing development of active safety systems. Maintaining the balance between cost and quality. Risk of injury and product reliability issues. High maintenance cost and operating cost hinder the market growth.

Market Players

• Autoliv (Sweden)
• Joyson Safety Systems (US)
• Robert Bosch (Germany)
• Aptiv (Ireland)
• Denso (Japan)
• Toshiba Device Corporation (Japan)
• Toyoda Gosei (Japan)
• Hyundai Mobis (South Korea)
• ZF Friedrichshafen (Germany)
• Continental (Germany)
• GWR Safety Systems (US)
• Tokai Rika (Japan)
• Ashimori Industry (Japan)
• Infineon Technologies (Germany)