The global automotive airbag market is anticipated to grow at an 8.8% CAGR during the forecast period 2021-2027 and will reach USD 43.4 billion by 2027. Factors attributing to the growth of the automotive airbag market include development in vehicle passive safety systems and rising demand for safe, effective, and convenient driving experience will propel the growth of the market. Also, the increased prominence of side-impact and curtain airbags and vehicle production along with the introduction of more cars per bag will proliferate the growth in the market. Nevertheless, companies are enhancing sensor technology in airbag systems to avoid potential airbag injuries in case drivers or passengers slid too far forward in the car seat.

The COVID-19 outbreak has led to sudden lockdowns which have impacted auto manufacturers' revenue generation. However, the market is anticipating a steady recovery in automobile production and consignments which will lead to the growth in the automotive airbag market.

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Based on airbag type, the global automotive airbag market is segmented into frontal airbags, knee airbags, and side & curtain airbags. The frontal airbags dominate the automotive airbag market as it decreases the rising number of fatalities as many accidents are caused due to head-on collisions. The side and curtain airbags are anticipated to grow at a fast pace as they protect the neck and head of passengers inside collision clashes. Moreover, gives protection to occupants in case of a rollover crash, thus propelling the growth in the automotive airbag market.

Asia-Pacific is anticipated to have the largest share owing to an increased number of vehicle production, rising concern for safety, and rising incorporation of safety systems especially airbags in compact car segment may propel the growth of the automotive airbag market.

In February 2022, Nuro, a leading autonomous vehicle business, and Autoliv, Inc., a global leader in automotive safety systems, are collaborating to assure a high safety standard for Nuro's new third-generation, production-grade autonomous delivery vehicle. The new flagship model includes an exterior airbag from Autoliv that protects other road users by covering the front of the car when inflated, making it Nuro's most advanced zero-occupant vehicle to date. With its safe, environmentally friendly, and convenient services, the Nuro, a third-generation car, is expected to reach millions of people.

The prominent players in the automotive airbag industry include Autoliv, Joyson Safety Systems, Robert Bosch, Aptiv, Denso, Toshiba Device Corporation, Toyoda Gosei, Hyundai Mobis, ZF Friedrichshafen, Continental, GWR Safety Systems, Tokai Rika, Ashimori Industry, and Infineon Technologies.

Source: VynZ Research