Analyst Viewpoint
Expansion in automotive sector and growth in demand for safer & more efficient driving experiences are driving the airbag electronics market size. Expansion in the automotive sector calls for higher deployment of airbags, with government agencies mandating their deployment for protection against damage during accidents.
Deployment of airbag electronics ascertains that the drivers as well as passengers sustain minimum injuries in case of a vehicle crash. Vehicle density worldwide has increased twofold between 2022 and 2023 alone and the scenario is expected to persist even during the forecast period. Increase in demand for safer transit on roads is expected to spur the airbag electronics market growth during the forecast period. Vendors in the industry are investing in the R&D of new products to expand their product portfolio.
OEMs are engaged in the upgradation of electronic control units used for regulating the deployment of airbags in automobiles. At present, smart airbags are integrated in various vehicles, thereby extending the efficiency of airbag electronics in the modulation of safety of automobiles and occupants. Advanced airbag sensor technology comprising crash sensors uses intelligent sensing technologies for side and front crash detection. Freescale’s Xtrinsic MMA65xxKW accelerometers have been employed in automobiles for crash detection since 2012.
However, the fact that airbags are unsafe for women who are driving during pregnancy can’t be ignored, as abrupt push could hurt the womb. If pets are sitting on the thighs of the driver, they might succumb to push-force. These factors may restrain the airbag electronics market landscape during the forecast period.
Airbag electronics has been made compulsory for Light Commercial Vehicles (LCVs) and trucks. This is in the wake of a noticeable increase in fatal accidents. As per the Association for Safe International Road Travel, 3,287 deaths are witnessed due to traffic accidents every single day. Automakers are concentrating on the inclusion of safety features in their vehicles. ZF Friedrichshafen AG provided knee airbags in 2019. One of the advantages of airbag electronics is that even if a driver misses to fasten their seatbelt, they would be saved from hitting their head in case of collision.
Various government agencies have laid down regulations wherein they ask for the installation of vehicle safety modules stating the advantages of airbag electronics in automobiles. As per the European Automobile Manufacturers’ Association, 82 million automobiles are sold every year, with Europe witnessing an addition of 11 million new vehicles per year. Thus, exponential expansion in the automotive sector is driving the airbag electronics market progress forecast during the forecast period.
Airbag electronics, also known as airbag deployment systems, start measuring impact severity the moment the automotive starts crashing. If a crash is severe, the systems instruct inflators to have the bags filled immediately. As per the National Center for Statistics and Analysis, 2020, front airbags in frontal crashes cut down drivers’ deaths by 29% and those of front-seat passengers aged 13 and older by 32%. It further states that side airbags along with head protection curtail car driver’s fatality risk in driver-side crashes by 37%. In the case of SUV drivers, the risk gets reduced by 52%. Mandatory deployment of automotive airbag technology in developed countries due to the advantages mentioned above is expected to drive the airbag electronics market dynamics during the forecast period.
North America held the largest airbag electronics market share. This can be ascribed to the increase in the frequency of road accidents followed by stringent regulations laid down by the governments in the U.S. and Canada regarding airbags to be made mandatory in vehicles, especially luxury ones.
Rise in demand for safety features in vehicles coupled with growth in number of regulations regarding vehicle safety is expected to drive the airbag electronics market value in Europe during the forecast period. Growth in need for safety of driver as well as passengers, increase in production of vehicles, and expanding usage of active and passive safety technologies in Korea, Japan, and China are expected to drive the airbag electronics demand in Asia Pacific during the forecast period.
Airbag electronics manufacturers are involved in expanding their product portfolio in unexplored geographies to cater to the demands by various car manufacturers. Airbag electronics market analysis highlights that the year 2026 is bound to see sales of over 237,500 thousand units of airbag electronics worldwide.
Autoliv, Denso Corporation, Key Safety Systems, Inc., Takata Corporation, Toyoda-Gosei Co., Ltd., TRW Automotive Holdings Corp., Ashimori, Hyundai Mobis, Ningbo Joyson Electronic, and Nihon Plast have been profiled in the airbag electronics market report based on parameters such as company overview, business strategies, financial overview, product portfolio, and business segments.
| Attribute | Detail |
|---|---|
| Size in 2022 | US$ 6.1 Bn |
| Forecast (Value) in 2031 | US$ 9.1 Bn |
| Growth Rate (CAGR) | 4.3% |
| Forecast Period | 2023-2031 |
| Historical Data Available for | 2017-2021 |
| Quantitative Units | US$ Bn for Value |
| Market Analysis | It includes segment analysis as well as regional level analysis. Moreover, qualitative analysis includes drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and key trend analysis. |
| Competition Landscape |
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| Format | Electronic (PDF) + Excel |
| Market Segmentation |
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| Regions Covered |
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| Countries Covered |
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| Companies Profiled |
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| Customization Scope | Available Upon Request |
| Pricing | Available Upon Request |
It was valued at US$ 6.1 Bn in 2022
It is projected to grow at a CAGR of 4.3% from 2023 to 2031
Expansion in automotive sector and growth in demand for safer and more efficient driving experiences
The OEM segment held the largest share in 2022
North America is estimated to dominate in the next few years
Autoliv, Denso Corporation, Key Safety Systems, Inc., Takata Corporation, Toyoda-Gosei Co., Ltd., TRW Automotive Holdings Corp., Ashimori, Hyundai Mobis, Ningbo Joyson Electronic, and Nihon Plast
1. Executive Summary
1.1. Global Market Outlook
1.1.1. Market Value US$ Mn, 2017-2031
1.2. Go to Market Strategy
1.2.1. Demand & Supply Side Trends
1.2.2. Identification of Potential Market Spaces
1.2.3. Understanding the Buying Process of Customers
1.2.4. Preferred Sales & Marketing Strategy
1.3. TMR Analysis and Recommendations
2. Market Overview
2.1. Market Definition / Scope / Limitations
2.2. Macro-Economic Factors
2.3. Market Dynamics
2.3.1. Drivers
2.3.2. Restraints
2.3.3. Opportunities
2.4. Market Factor Analysis
2.4.1. Porter’s Five Force Analysis
2.4.2. SWOT Analysis
2.5. Regulatory Scenario
2.6. Key Trend Analysis
2.7. Value Chain Analysis
2.8. Cost Structure Analysis
2.9. Profit Margin Analysis
3. Global Airbag Electronics Market, by Vehicle Type
3.1. Market Snapshot
3.1.1. Introduction, Definition, and Key Findings
3.1.2. Market Growth & Y-o-Y Projections
3.1.3. Base Point Share Analysis
3.2. Global Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
3.2.1. Compact Cars
3.2.2. Mid-sized Cars
3.2.3. Premium Cars
3.2.4. Luxury Cars
3.2.5. Light Commercial Vehicles
3.2.6. Heavy Commercial Vehicles
4. Global Airbag Electronics Market, by Sales Channel
4.1. Market Snapshot
4.1.1. Introduction, Definition, and Key Findings
4.1.2. Market Growth & Y-o-Y Projections
4.1.3. Base Point Share Analysis
4.2. Global Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
4.2.1. OEM
4.2.2. Aftermarket
5. Global Airbag Electronics Market, by Region
5.1. Market Snapshot
5.1.1. Introduction, Definition, and Key Findings
5.1.2. Market Growth & Y-o-Y Projections
5.1.3. Base Point Share Analysis
5.2. Global Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Region
5.2.1. North America
5.2.2. Europe
5.2.3. Asia Pacific
5.2.4. Middle East & Africa
5.2.5. South America
6. North America Airbag Electronics Market
6.1. Market Snapshot
6.1.1. Introduction, Definition, and Key Findings
6.1.2. Market Growth & Y-o-Y Projections
6.1.3. Base Point Share Analysis
6.2. North America Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
6.2.1. Compact Cars
6.2.2. Mid-sized Cars
6.2.3. Premium Cars
6.2.4. Luxury Cars
6.2.5. Light Commercial Vehicles
6.2.6. Heavy Commercial Vehicles
6.3. North America Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
6.3.1. OEM
6.3.2. Aftermarket
6.4. Key Country Analysis – North America Airbag Electronics Market Size Analysis & Forecast, 2017-2031
6.4.1. U.S.
6.4.2. Canada
6.4.3. Mexico
7. Europe Airbag Electronics Market
7.1. Market Snapshot
7.1.1. Introduction, Definition, and Key Findings
7.1.2. Market Growth & Y-o-Y Projections
7.1.3. Base Point Share Analysis
7.2. Europe Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
7.2.1. Compact Cars
7.2.2. Mid-sized Cars
7.2.3. Premium Cars
7.2.4. Luxury Cars
7.2.5. Light Commercial Vehicles
7.2.6. Heavy Commercial Vehicles
7.3. Europe Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
7.3.1. OEM
7.3.2. Aftermarket
7.4. Key Country Analysis – Europe Airbag Electronics Market Size Analysis & Forecast, 2017-2031
7.4.1. Germany
7.4.2. U. K.
7.4.3. France
7.4.4. Italy
7.4.5. Spain
7.4.6. Nordic Countries
7.4.7. Russia & CIS
7.4.8. Rest of Europe
8. Asia Pacific Airbag Electronics Market
8.1. Market Snapshot
8.1.1. Introduction, Definition, and Key Findings
8.1.2. Market Growth & Y-o-Y Projections
8.1.3. Base Point Share Analysis
8.2. Asia Pacific Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
8.2.1. Compact Cars
8.2.2. Mid-sized Cars
8.2.3. Premium Cars
8.2.4. Luxury Cars
8.2.5. Light Commercial Vehicles
8.2.6. Heavy Commercial Vehicles
8.3. Asia Pacific Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
8.3.1. OEM
8.3.2. Aftermarket
8.4. Key Country Analysis – Asia Pacific Airbag Electronics Market Size Analysis & Forecast, 2017-2031
8.4.1. China
8.4.2. India
8.4.3. Japan
8.4.4. ASEAN Countries
8.4.5. South Korea
8.4.6. ANZ
8.4.7. Rest of Asia Pacific
9. Middle East & Africa Airbag Electronics Market
9.1. Market Snapshot
9.1.1. Introduction, Definition, and Key Findings
9.1.2. Market Growth & Y-o-Y Projections
9.1.3. Base Point Share Analysis
9.2. Middle East & Africa Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
9.2.1. Compact Cars
9.2.2. Mid-sized Cars
9.2.3. Premium Cars
9.2.4. Luxury Cars
9.2.5. Light Commercial Vehicles
9.2.6. Heavy Commercial Vehicles
9.3. Middle East & Africa Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
9.3.1. OEM
9.3.2. Aftermarket
9.4. Key Country Analysis – Middle East & Africa Airbag Electronics Market Size Analysis & Forecast, 2017-2031
9.4.1. GCC
9.4.2. South Africa
9.4.3. Turkey
9.4.4. Rest of Middle East & Africa
10. South America Airbag Electronics Market
10.1. Market Snapshot
10.1.1. Introduction, Definition, and Key Findings
10.1.2. Market Growth & Y-o-Y Projections
10.1.3. Base Point Share Analysis
10.2. South America Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Vehicle Type
10.2.1. Compact Cars
10.2.2. Mid-sized Cars
10.2.3. Premium Cars
10.2.4. Luxury Cars
10.2.5. Light Commercial Vehicles
10.2.6. Heavy Commercial Vehicles
10.3. South America Airbag Electronics Market Size Analysis & Forecast, 2017-2031, by Sales Channel
10.3.1. OEM
10.3.2. Aftermarket
10.4. Key Country Analysis – South America Airbag Electronics Market Size Analysis & Forecast, 2017-2031
10.4.1. Brazil
10.4.2. Argentina
10.4.3. Rest of South America
11. Competitive Landscape
11.1. Company Share Analysis/ Brand Share Analysis, 2022
11.2. Company Analysis for Each Player Company Overview, Company Footprints, Product Portfolio, Competitors & Customers, Subsidiaries & Parent Organization, Recent Developments, Financial Analysis
12. Company Profiles/ Key Players
12.1. Autoliv
12.1.1. Company Overview
12.1.2. Company Footprints
12.1.3. Product Portfolio
12.1.4. Competitors & Customers
12.1.5. Subsidiaries & Parent Organization
12.1.6. Recent Developments
12.1.7. Financial Analysis
12.2. Denso Corporation
12.2.1. Company Overview
12.2.2. Company Footprints
12.2.3. Product Portfolio
12.2.4. Competitors & Customers
12.2.5. Subsidiaries & Parent Organization
12.2.6. Recent Developments
12.2.7. Financial Analysis
12.3. Key Safety Systems, Inc.
12.3.1. Company Overview
12.3.2. Company Footprints
12.3.3. Product Portfolio
12.3.4. Competitors & Customers
12.3.5. Subsidiaries & Parent Organization
12.3.6. Recent Developments
12.3.7. Financial Analysis
12.4. Takata Corporation
12.4.1. Company Overview
12.4.2. Company Footprints
12.4.3. Product Portfolio
12.4.4. Competitors & Customers
12.4.5. Subsidiaries & Parent Organization
12.4.6. Recent Developments
12.4.7. Financial Analysis
12.5. Toyoda-Gosei Co., Ltd.
12.5.1. Company Overview
12.5.2. Company Footprints
12.5.3. Product Portfolio
12.5.4. Competitors & Customers
12.5.5. Subsidiaries & Parent Organization
12.5.6. Recent Developments
12.5.7. Financial Analysis
12.6. TRW Automotive Holdings Corp.
12.6.1. Company Overview
12.6.2. Company Footprints
12.6.3. Product Portfolio
12.6.4. Competitors & Customers
12.6.5. Subsidiaries & Parent Organization
12.6.6. Recent Developments
12.6.7. Financial Analysis
12.7. Ashimori
12.7.1. Company Overview
12.7.2. Company Footprints
12.7.3. Product Portfolio
12.7.4. Competitors & Customers
12.7.5. Subsidiaries & Parent Organization
12.7.6. Recent Developments
12.7.7. Financial Analysis
12.8. Hyundai Mobis
12.8.1. Company Overview
12.8.2. Company Footprints
12.8.3. Product Portfolio
12.8.4. Competitors & Customers
12.8.5. Subsidiaries & Parent Organization
12.8.6. Recent Developments
12.8.7. Financial Analysis
12.9. Ningbo Joyson Electronic
12.9.1. Company Overview
12.9.2. Company Footprints
12.9.3. Product Portfolio
12.9.4. Competitors & Customers
12.9.5. Subsidiaries & Parent Organization
12.9.6. Recent Developments
12.9.7. Financial Analysis
12.10. Nihon Plast
12.10.1. Company Overview
12.10.2. Company Footprints
12.10.3. Product Portfolio
12.10.4. Competitors & Customers
12.10.5. Subsidiaries & Parent Organization
12.10.6. Recent Developments
12.10.7. Financial Analysis
List of Tables
Table 1: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 2: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 3: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Region, 2017‒2031
Table 4: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 5: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 6: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Table 7: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 8: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 9: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Table 10: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 11: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 12: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Table 13: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 14: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 15: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Table 16: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Table 17: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Table 18: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
List of Figures
Figure 1: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 2: Global Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 3: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 4: Global Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 5: Global Airbag Electronics Market Value (US$ Mn) Forecast, by Region, 2017‒2031
Figure 6: Global Airbag Electronics Market, Incremental Opportunity, by Region, Value (US$ Mn), 2023‒2031
Figure 7: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 8: North America Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 9: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 10: North America Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 11: North America Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Figure 12: North America Airbag Electronics Market, Incremental Opportunity, by Country, Value (US$ Mn), 2023‒2031
Figure 13: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 14: Europe Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 15: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 16: Europe Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 17: Europe Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Figure 18: Europe Airbag Electronics Market, Incremental Opportunity, by Country, Value (US$ Mn), 2023‒2031
Figure 19: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 20: Asia Pacific Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 21: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 22: Asia Pacific Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 23: Asia Pacific Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Figure 24: Asia Pacific Airbag Electronics Market, Incremental Opportunity, by Country, Value (US$ Mn), 2023‒2031
Figure 25: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 26: Middle East & Africa Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 27: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 28: Middle East & Africa Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 29: Middle East & Africa Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Figure 30: Middle East & Africa Airbag Electronics Market, Incremental Opportunity, by Country, Value (US$ Mn), 2023‒2031
Figure 31: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Vehicle Type, 2017‒2031
Figure 32: South America Airbag Electronics Market, Incremental Opportunity, by Vehicle Type, Value (US$ Mn), 2023‒2031
Figure 33: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Sales Channel, 2017‒2031
Figure 34: South America Airbag Electronics Market, Incremental Opportunity, by Sales Channel, Value (US$ Mn), 2023‒2031
Figure 35: South America Airbag Electronics Market Value (US$ Mn) Forecast, by Country, 2017‒2031
Figure 36: South America Airbag Electronics Market, Incremental Opportunity, by Country, Value (US$ Mn), 2023‒2031
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Airbag Electronics Market
*86 figures and 60 tables includes