Airbags Market: Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

The Airbag Market size is valued at USD 24,348.9 million in 2021 and is expected to grow at a prominent growth rate during the forecast period 2022 to 2028. The global market provides a detailed overview of the Airbags market and that can be segmented by type, by module, By Vehicle Type, and by Sales Channel. By type, The Airbags market has been segmented into Curtain Airbag, Frontal Airbag, Knee Airbag, Side Airbag, and Others. The Curtain Airbag segment is likely to be the largest and fastest-growing segment in terms of type. Based on Module the Airbags market is segmented into Air Bag, Crash Sensors, Inflators or Gas Generators. Among these, the airbag segment is expected to have the fastest-growing market during the forecast period 2022-2028. Based on Vehicle Type, the Airbags market is segmented into Commercial vehicles and Passenger Vehicle. The Commercial Vehicle segment accounts for the largest share in 2021. Passenger Vehicle is the second-largest share during the forecast period 2021-2028. Based on the Sales Channel, the segment has been segregated into Aftermarkets, Original Equipment Manufacturers. The OEM segment is expected to dominate other segments in the Airbags market. The aftermarket segment is expected to witness the highest CAGR during the forecast period according to precision business insights.

Key Development:

In July 2019, ZF developed an external airbag to enhance vehicle safety. This external airbag is engineered to soften the blow of the oncoming vehicle, thereby minimizing damage. This smart airbag system gets deployed once it senses an oncoming impact.

In February 2018, Hyundai Mobis developed the world’s first panoramic roof airbag. The safety device is designed to prevent occupants from being ejected from the vehicle through the glass roof at the time of a rollover.