Automotive Airbag And Seat Belt Market, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Automotive Airbag And Seat Belt Market


The global Automotive Airbag And Seat Belt market size is projected to reach US$ 77.76 billion by 2026, from US$ 55.13 billion in 2020, at a CAGR of 5.9% during 2021-2026. Continuous efforts taken by prominent companies to introduce innovative airbag and seatbelt technologies have contributed to the market growth. Over the past few years, Original Equipment Manufacturers (OEMs) and suppliers have been working toward the development of advanced products.
Some of them have successfully launched their products with slight differentiation from their competitors. For instance, Key Safety Systems (KSS) has been supplying improved rear seat belts, Inflatable Seat Belts, to Ford Motors, which are capable of protecting the shoulder and torso area on inflation. In addition, they are capable of being deployed within as less as 40 milliseconds of a crash. The introduction of stringent regulations by governments across the globe to improve road safety is another driver propelling the market growth.

Growing awareness regarding the importance of implementing passive safety systems, such as airbags and seatbelts, among consumers is also likely to augment market expansion. Governments, especially in emerging nations including India, and China, are increasingly making amendments and introducing new regulations to ensure enhanced road safety.

In 2017, the Union Road Transport Ministry of India announced that cars manufactured from 1st July 2019 onwards must install essential safety features to curb the issues pertaining to over speeding and its consequences. These safety features include front airbags, seat belt reminders, and speed alert, and parking systems.

On the other hand factors such as production of counterfeit goods may hinder market growth as these pose a great threat to the sales, revenue, and brand image of key companies. According to the U.S. Federal Trade Commission, the global automotive parts industry claims to have lost billions of dollars due to the growing availability of counterfeit products.

Market Segmentation, Outlook & Viewpoint: Global Automotive Airbag And Seat Belt Market

Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Airbag Type

  
Curtain
  
Front
  
Knee
  
Side

Seat Belt Type

  
Two Point
  
Three Point
  
Others

End Use Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Airbag End Use

  
Passenger Vehicle
  
Commercial Vehicle

Seat Belt End Use

  
Passenger Vehicle
  
Commercial Vehicle

Key Players, Recent Developments & Regional Insights: Global Automotive Airbag And Seat Belt Market

The passenger vehicle segment is the largest end use segment of the automotive airbag and seat belt market. The segment was valued at USD 32.09 billion in 2017 and is anticipated to witness significant growth over the forecast period. The segment usually experiences high demand from passenger vehicles, which include economy cars, compact cars, minivans, SUVs, and premium and luxury cars. Growing spending and awareness regarding the importance of using vehicle safety systems will also boost the demand.

The commercial vehicle segment is also expected to witness substantial growth owing to the implementation of stringent regulations by governments across the globe. In addition, the automotive industry has reported a recovery in the production of commercial vehicles in many parts of the world. The increasing number of mandates pertaining to the implementation and usage of seatbelts in both commercial, as well as passenger, vehicles is also responsible for the growth of end use segment.

Seat Belt Type Insights

The three point seat belt segment led the automotive seat belt market and was valued at USD 20.16 billion in 2017. The segment acquired more than 90% of the total market share and is expected to retain its dominance over the forecast period. This can be attributed to the added protection offered by these seatbelts. They help protect the passengers upper body and pelvis and minimize injuries.

They are installed in a majority of passenger and commercial vehicles. The three point type offers enhanced safety and better grip than other seatbelts. Due to all these factors they are expected to remain the preferred choice and would witness significant growth over the next few years.

Regional Insights

North America was the dominant regional market and valued at USD 13.52 billion in 2017, which can be attributed to the strict regulations regarding road safety in U.S. and Canada. For instance, under the Intermodal Surface Transportation Efficiency Act of 1991, all the passenger as well as commercial vehicles in U.S. should have airbags on both sides of front seats, which makes it a must for OEMs to incorporate them in every model variant.

Furthermore, the automobile industry in these countries has recovered from economic crisis, making them one of the major markets. However, the Asia Pacific is expected to register the highest CAGR during the forecast period. The region comprises emerging nations, such as India, China, and Thailand, which are increasingly implementing road safety regulations to lower the number of fatalities caused due to road accidents.

Automotive Airbag and Seat Belt Market Share Insights

The market is characterized by the presence of numerous companies, including a few well-established ones with worldwide operations. The prominent companies contribute to more than 50% of the overall market share. Some of these companies are Autoliv, Inc.; Continental AG; Toyoda Gosei Co., Ltd.; Key Safety Systems (KSS); Robert Bosch GMBH; ZF Friedrichshafen AG; and Hyundai Mobis Co., Ltd. Besides major firms, there is a large number of regional companies who have a limited geographic presence and product lines and offer solutions at competitive prices.

Most of the major companies focus on strategies, such as mergers and acquisitions and product development to maintain the industry position. For example, the recent announcement of Takata Corporation filing for bankruptcy in 2016 and its acquisition by Key Safety Systems (KSS). Moreover, in 2015, TRW Automotive Holdings Corp. was acquired by ZF Friedrichshafen AG.

Key Insights Covered: Global Automotive Airbag And Seat Belt Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Automotive Airbag And Seat Belt industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Automotive Airbag And Seat Belt industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Automotive Airbag And Seat Belt industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Automotive Airbag And Seat Belt industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Automotive Airbag And Seat Belt industry.

Research Methodology: Global Automotive Airbag And Seat Belt Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other