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Automotive Airbags And Seatbelts Market Size Forecast: $48.38 Billion by 2029 | Global Outlook
Automotive Airbags And Seatbelts
What Is the Projected Market Size Valuation of the Automotive Airbags And Seatbelts Market by 2025?
The market for automotive airbags and seatbelts has seen significant growth in the past few years. It is projected to increase from $34.62 billion in 2024 to $36.98 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. This growth in the historical period can be associated with the heightened awareness of vehicle safety, expansion of the automobile industry, consumer preference for advanced safety functions, and the rise in road traffic and accidents.
What Is the Estimated Market Growth Value for the Automotive Airbags And Seatbelts Industry in 2029?
In the coming years, a robust surge is anticipated in the automotive airbags and seatbelts market, projected to reach $48.38 billion by 2029 growing with a compound annual growth rate (CAGR) of 7.0%. The predicted growth in this period can be linked to factors such as the escalating adoption of high-tech driver assistance systems, heightened concentration on passenger safety, increasing urbanization and road traffic, improved safety ratings, superior crash test results, and growth in vehicle production. The forecast period also sees trends like technological evolution, incorporation of child safety features, the use of advanced airbag systems, sustainable and lightweight materials, and the integration of interlock systems.
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What Are the Growth Drivers and Opportunities in the Automotive Airbags And Seatbelts Market?
The anticipated increase in vehicle production is predicted to boost the automotive airbags and seatbelts market's expansion. This surge in vehicle manufacturing is driven by the escalating demand for electric and hybrid vehicles, in conjunction with the emergent trend of autonomous vehicles that are poised to revolutionize the transportation industry. Automotive airbags and seatbelts are vital safety components in vehicles, created to mitigate injury risks by securing passengers and cushioning collision impacts. For example, as per the European Automobile Manufacturers Association, a Belgian advocacy and standards entity for the automotive industry, stated that in 2022, worldwide motor vehicle production hit 85.4 million units, denoting a 5.7% growth rate compared to the prior year. Hence, the forecasted rise in vehicle production is set to catapult the advancement of the automotive airbags and seatbelts market.
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What Are the Primary Segments Covered in the Global Automotive Airbags And Seatbelts Market Report?
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), After market
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
What Are the Top Growth Trends in the Automotive Airbags And Seatbelts Market?
Top automotive airbags and seatbelts manufacturers are concentrating on the creation of smart seat belt technology to heighten vehicle safety, refine passenger protection, and adhere to emerging regulatory standards. Smart seat belt technology pertains to sophisticated systems, incorporated into seat belts, that take safety and functionality beyond the typical restraints. For instance, ZF Friedrichshafen AG, a tech-manufacturing company from Germany, unveiled a groundbreaking smart seat belt technology, equipped with the multi-stage load limiter (MSLL), in January 2024. This crucially enhances the flexibility of belt force restrictions based on passengers' body weight and size. The MSLL facilitates personalized system tweaks to lessen the impact of accidents on all vehicle passengers and allows automakers to fulfill the escalating demands of the NCAP Roadmap 2030. This system possesses a multi-stage structure that modulates restraining forces more efficiently through the entire accident process, providing a customized reaction to individuals of varying sizes by suitably managing belt forces.
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Which Companies Are Shaping the Future of 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
Which Region Holds the Largest Market Share in the Automotive Airbags And Seatbelts Industry?
Asia-Pacific was the largest region in the automotive airbags and seatbelts market in 2024. 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.
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