Automotive Airbags and Seatbelts Market to Grow at 11.8% CAGR to Hit USD 111,917.12 Million by 2028

The comprehensive industry research on Automotive Airbags and Seatbelts published by The Insight Partners research includes growth analysis in the report.

NEW YORK, UNITED STATES, November 29, 2022 /EINPresswire.com/ -- According to our new research study, titled " Automotive Airbags and Seatbelts Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Airbags Type, Seatbelts Type, and Vehicle Class, and Geography," the market is projected to reach US$ 111,917.12 million by 2028 from US$ 53,744.00 million in 2021. It is expected to grow at a CAGR of 11.8% during 2022–2028.

Automotive Airbags and Seatbelts Market: Competitive Landscape and Key Developments

Autoliv Inc., Continental AG, Denso Corporation, Hyundai Mobis, Infineon Technologies AG, Joyson Safety Systems, Robert Bosch GmbH, Toshiba Device Corporation, Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG are among the key players profiled in this automotive airbags and seatbelts market report. In addition, several other essential automotive airbags and seatbelts market players were studied and analyzed to get a holistic view of the market and its ecosystem. The automotive airbags and seatbelts market report provides detailed market insights, which helps the key players to strategize the growth in the coming years.

In November 2021, Autoliv Inc. entered into collaboration with SSAB, a global steel company, to replace coking coal with fossil-free steel from SSAB for airbags and seatbelts

In June 2022, Infineon Technologies AG designed the second generation of REAL3 automotive 3D image sensor in collaboration with 3D time-of-flight system specialist pmdtechnologies ag.

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Companies Profiled in this report includes: Autoliv Inc.,Continental AG,Denso Corporation ,INFINEON TECHNOLOGIES AG ,Robert Bosch GmbH,ZF Friedrichshafen AG ,Hyundai Mobis, Joyson Safety Systems ,Toyoda Gosei Co., Ltd. ,Ashimori Industry Co., Ltd

The automotive airbags and seatbelts market report is segmented into North America, Asia Pacific, Europe, Middle East & Africa, and South America. Asia Pacific dominated the automotive airbags and seatbelts market in 2021 and is expected to continue its dominance throughout the forecast period. The growth of the automotive airbags and seatbelts market in North America is primarily attributed to a large number of airbags and seatbelts manufacturers in the region, coupled with the growing trend for adopting electric vehicles. The trend of pedestrian protection airbags is boosting the demand for automotive airbags and seatbelts. For instance, in October 2021, Japan's Toyoda Gosei Co. developed a pedestrian protection airbag to protect the pedestrian's head when a vehicle hit. Toyoda Gosei had developed various types of airbags that protect vehicle occupants. This would be Toyoda Gosei's first airbag on the market that protects pedestrians and other vulnerable road users. Among traffic accidents in Japan, the highest mortality rate is seen in those involving pedestrians. The main cause of death in these accidents is head injury. The pedestrian protection airbag covers the rigid parts of the vehicle, such as the front pillars, where the likelihood of fatal injury is the highest. The internal pressure is adjusted to the optimum level for each part of the vehicle covered, mitigating impacts to the head. These airbags will be used on the Subaru Legacy Outback models for Japan. The automotive airbags and seatbelts market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that influence the market growth in the coming years

In terms of automotive airbags and seatbelts market share, Europe accounted for the second-largest region. The growth in pedestrian protection airbags is boosting the demand for automotive airbags and seatbelts. Over the past decade, European automotive safety regulators have prioritized pedestrian safety. In 2010, the European Union introduced new auto safety standards designed to reduce pedestrian fatalities and injuries, stemming from a set of recommendations released by the United Nations (UN) the previous year, 2019. Further, the European Commission has continuously reduced the number of people killed in road traffic. For this reason, the European Union (EU) Commission supports international and national initiatives that provide for measures to improve transport infrastructure and vehicle safety, as well as to educate road users. Moreover, according to the article published by WIRED in December 2006, experts said that external airbags designed to protect pedestrians could reduce head injuries by 90% and upper body injuries by half. Since over 80% of traffic fatalities occur when a head and a windshield collide, pedestrian airbags could be a very effective way to reach the EU's goal.

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Automotive Airbags and Seatbelts Market: Vehicle Class Overview

The automotive airbags and seatbelts market, based on vehicle class, is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment is expected to grow at the fastest pace during the forecast period. The number of passenger cars is rising noticeably in the developing nations of Asia Pacific. This can be ascribed to improved lifestyles, increased consumer spending power, and infrastructure development. Thus, the growing adoption of airbags and seatbelts owing to a rise in consumer awareness contributes to the growth of the automotive airbags and seatbelts market size.

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