Automotive Airbag – Market Drivers and Forecasts from Technavio

Technavio publishes a new market research report on the global automotive airbag market from 2016-2020. (Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global automotive airbag market to grow at a CAGR of almost 7% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global automotive airbag market for 2016-2020. The market size has been derived as a sum of frontal airbag and curtain airbag markets. The frontal airbag market's penetration in the overall passenger car, LCV, and HCV segments is considered in the report, whereas the curtain airbag market's penetration in the passenger car segment alone is considered.

Stringent vehicle safety regulations and growing awareness about in-vehicle safety systems are driving the deployment of airbags in vehicles. In terms of vehicle type, passenger cars will continue to be the highest volume market due to rapid adoption of airbag systems, whereas light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs) are expected to gain traction during the forecast period owing to rising adoption of safety measures like airbags by commercial businesses such as fleet operators/freight businesses.

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Technavio automotive analysts highlight the following three factors that are contributing to the growth of the global automotive airbag market:

  • Prioritizing of safety systems by OEMs, buyers, and regulatory bodies
  • Ensuring in-vehicle safety against fatalities due to vehicle rollover and side impacts
  • Market dynamics for added safety features

Prioritizing of safety systems by OEMs, buyers, and regulatory bodies

Globally, governments disclose the crash test ratings of automobiles for the benefit of automobile manufacturers, customers, and vendors. These ratings are published on various government and non-government portals such as NHTSA, Euro NCAP, and ASEAN NCAP. With the growing acceptance of safety certifications, automotive manufacturers are manufacturing vehicles that comply with safety standards. The NCAP ratings for each tested automobile are based on the assessment done for pedestrian protection, occupant protection, and child protection systems.

Neelam Barua, a lead automotive electronics analyst at Technavio, says, “Governments and crash test rating agencies worldwide are imposing stern safety norms for automobiles because of rising concerns over passenger safety. Such stringent crash test regulations have increased the pressure on automotive safety system manufacturers such as airbag manufacturers to deliver the best products.”

Ensuring in-vehicle safety against fatalities due to vehicle rollover and side impacts

Airbags are central to passenger safety in a moving vehicle because these devices are designed to reduce fatalities during collisions. Airbags are attached on steering panels, front instrument panels, and sides of car doors. These are common features and come as factory fit in almost all vehicles manufactured at present.

“Manufacturers have introduced curtain airbags that are mounted on the top of doors and roofs. These airbags protect passengers during side collisions and rollovers. Developing automotive markets such as China, India, the US, Japan, and Europe have high demand for curtain airbags,” adds Neelam.

Market dynamics for added safety features

The globalization of the automotive industry has resulted in fierce competition among international and domestic auto OEMs. The rising sales of vehicles may sustain the market, and auto OEMs are working to offer new technologies and advanced features. Such innovations may occur in terms of safety, performance, and design as a strategy to differentiate products and to raise their market shares.

Enhancing safety is one such segment because auto OEMs are currently focusing on anti-lock braking systems. Such features were limited to high-end luxury and premium cars until 2007, but have become a standard feature in almost all vehicles manufactured today. The same holds true for airbags.

Top vendors:

  • Autoliv
  • Takata
  • ZF TRW

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global automotive airbag market to grow at a CAGR of almost 7% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com