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Impact Of Rising Vehicle Production On The Automotive Airbags And Seatbelts Market Driver: Leading Transformation in the Automotive Airbags And Seatbelts Market in 2025
Automotive Airbags And Seatbelts Market Size
The growth of the automotive airbags and seatbelts market is likely to be propelled by increasing vehicle production. This surge in vehicle production is driven by a growing demand for electric and hybrid vehicles, as well as the evolving trend towards autonomous vehicles which is set to revolutionize the transport industry. Airbags and seatbelts for automotive use, which are critical safety elements meant to prevent injuries by restraining passengers and buffer impacts during mishaps, hence their markets are seeing growth. For example, the European Automobile Manufacturers Association, a Belgium-based automobile industry lobbying and standards group reported in May 2023 that there was a 5.7% rise in global automotive production to 85.4 million units in 2022, compared to the previous year. Thus, the increase in vehicle production will spur the expansion of the automotive airbags and seatbelts market.
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What is the projected compound annual growth rate (CAGR) of the automotive airbags and seatbelts market from 2025 to 2034, and what factors influence it?
In past few years, the market size of automotive airbags and seatbelts has seen significant growth. It is projected to increase from $34.62 billion in 2024 to $37.49 billion in 2025, with a compound annual growth rate (CAGR) of 8.3%. This growth during the historic period is due to factors such as heightened awareness about vehicle safety, expansion of the automobile industry, customer interest in advanced safety features, along with rising road traffic and accident incidents.
Anticipated robust growth in the automotive airbags and seatbelts sector predicts the market volume to escalate to $50.86 billion by 2029, with an annual growth rate of 7.9%. This progression over the forecast period is slated to result from a growing demand for advanced driver assistance systems, a concern for passenger safety, an uptick in road traffic and urbanization, improved safety benchmarks, and superior crash test outcomes coupled with rising vehicle manufacture. Key trends on the horizon encompass advancements in technology, the inclusion of child protection features, the take-up of leading-edge airbag mechanisms, the use of lightweight, yet sturdy materials, and the assimilation of interlock systems.
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How are the latest trends influencing the growth of the automotive airbags and seatbelts market?
Leading businesses within the automotive airbags and seatbelts sector are intensifying their efforts to create and introduce smart seat belt technology. This is in a bid to boost the safety features of vehicles, provide greater protection for passengers, and stay in line with continuously changing regulatory standards. Smart seat belt technology entails the integration of cutting-edge systems into seat belts to improve safety and functionality beyond what traditional restraints can offer. A tangible example of this is seen in the actions of ZF Friedrichshafen AG, a tech producer based in Germany, in January 2024. The company unveiled a groundbreaking smart seat belt technology that boasts a multi-stage load limiter (MSLL). This innovative feature markedly enhances how belt force limits are adapted based on the passengers' size and body weight. The MSLL makes it possible for individual system modifications, which lessen the impact of accidents for all passengers. It also gives car manufacturers the capacity to meet the heightened requisites of the NCAP Roadmap 2030. Designed with various stages, the system adjusts restraining forces during the entire crash event more efficiently. This ensures responses are customised to people of different sizes by managing belt forces suitably.
What are the major segments of the automotive airbags and seatbelts market and their role in driving growth?
The automotive airbags and seatbelts market covered in this report is segmented -
1) By Airbag Types: Frontal Airbags, Knee Airbags, Side Or Curtain Airbags
2) By Seatbelt Type: 2 Point, 3 Point, 5 Point, Other Seatbelt Types
3) By Vehicle Types: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCVS)
4) By Sales Channels: Original Equipment Manufacturer (OEM), Aftermarket
Subsegments:
1) By Frontal Airbags: Driver Airbags, Passenger Airbags, Dual-Stage Frontal Airbags, Smart Or Adaptive Frontal Airbags
2) By Knee Airbags: Driver Knee Airbags, Passenger Knee Airbags, Side-Mounted Knee Airbags
3) By Side Or Curtain Airbags: Side-Impact Airbags, Curtain Airbags For Head Protection, Thorax And Pelvic Side Airbags, Inflatable Side Tubes And Side-Curtain Inflatable Structures
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Which regions are key players in the growth of the automotive airbags and seatbelts market?
Asia-Pacific was the largest region in the automotive airbags and seatbelts market in 2023. The regions covered in the automotive airbags and seatbelts market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the key firms paving the way for growth in the automotive airbags and seatbelts market?
Major companies operating in the automotive airbags and seatbelts market are Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Continental AG, The Hyundai Motor Group, Mitsubishi Electric Corporation, Faurecia SE, Lear Corporation, Aptiv Plc., Autoliv Inc., Toyoda Gosei Co. Ltd., Tokai Rika Co. Ltd., Daicel Corporation, TS Tech Co. Ltd., Nihon Plast Co. Ltd., Key Safety Systems (KSS), Ashimori Industry Co. Ltd, Nihon Tokushu Toryo Co. Ltd., Delphi Automotive, Goradia Industries, Far Europe Holding Limited, Hayakawa Rubber Company
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What Is Covered In The Automotive Airbags And Seatbelts Global Market Report?
•Market Size Forecast: Examine the automotive airbags and seatbelts market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive airbags and seatbelts market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive airbags and seatbelts market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive airbags and seatbelts market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive airbags and seatbelts market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive airbags and seatbelts market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive airbags and seatbelts market.
•Competitive Landscape: Review strategic developments in the automotive airbags and seatbelts market, including expansions, agreements, and new product launches.
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