The Automotive Airbag Sensors market size is set to grow by USD 220.4 million from 2022-2027; Improved vehicle safety with multiple airbags will boost market growth – Technavio

NEW YORK, March 17, 2023 /PRNewswire/ — The the market for automotive airbag sensors size is estimated to grow by USD 220.4 million from 2022 to 2027 according to Technavio. The market is estimated to grow by approx CAGR of 6.36% during the forecast period. The market is driven by increased vehicle safety with more airbags. More than a million people die every year in traffic accidents. By taking safety precautions and implementing safety features in vehicles, these deaths can be minimized. Airbags are one of the vehicle’s safety mechanisms that can reduce the risk of accidents. These airbags are found in dashboards, front instrument panels and the sides of car doors. Ideally, all vehicles are equipped with two airbags. That number could grow to an average of six, and manufacturers plan to continue increasing that number. The increasing number of airbags per vehicle is expected to increase the market growth. Technavio has segmented the market based on application (passenger cars, lCVs, MCVs and HCVs), end user (OEMs and aftermarket) and geography (APAC, Europe, North America, South Americaand Middle East and Africa). For more insight into the historical data (2017 to 2021) and forecast market size (2023 to 2027) – Request a sample report

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Global Automotive Airbag Sensors Market – Segmentation Assessment
Segment overview

• The market share growth with passenger car segment will be significant during the forecast period. Frontal airbags are widely installed in the passenger vehicle segment. In addition, the use of side/curtain, knee and exterior airbags is expanding in the passenger car market. Throughout the forecast period, this is expected to continue to be a key factor in the development of the passenger car market segment globally. The market’s expansion is heavily dependent on the production and sale of passenger cars, because airbag penetration in this segment is high.

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Geography overview
The report provides practical insights and estimates the contribution of all regions to the growth of the global ethylene glycol market.

• APAC is estimated to contribute 56% to the growth of the global market during the forecast period. APAC is expected to see the largest growth due to its market potential and the rapid growth of commercial vehicle sales in the region. In addition, governments in several countries have begun to introduce strict safety standards to reduce the number of road fatalities. For example in October 2018, India mandated that all new passenger cars must be fitted with safety devices. Safety equipment included ABS, airbags and a high speed warning system. These factors are driving the rapid adoption of safety features such as side/curtain airbags, knee airbags and electronic brake force distribution systems. Factors such as these are expected to boost the growth of the APAC market during the forecast period.

Insights into the market contribution from various segments, including country and region wise, historical data (2017 to 2021) and forecast market size (2023 to 2027) – Download a sample report

Global market for automotive airbag sensors– Supplier analysis

Supplier landscape – The global automotive airbag sensor market is characterized by the presence of various vendors such as Analog Devices Inc., Aptiv Plc, Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., Dorman Products Inc. , HELLA GmbH and Co. KGaA, Hyundai Motor Group, Infineon Technologies AG, Magna International Inc., Mitsubishi Electric Corp., Nihon Plast Co. Ltd., Ningbo Joyson Electronic Corp., NXP Semiconductors NV, Robert Bosch GmbH, TaiHangChangQing Automobile Safety System Co. Ltd., Toyoda Gosei Co. Ltd. and ZF Friedrichshafen AG among others.

Global market for automotive airbag sensors – Market dynamics

Leading trends affecting the market

• The MEMS sensors for airbags are a new trend in the market.

• Modern vehicles are equipped with various applications that can help improve engine performance along with reducing emissions.

• They also help drivers prevent accidents.

• Micro-Electro-Mechanical Systems (MEMS) are small mechanical and electromechanical elements.

• It detects the changes in the driving environment and collects information both inside and outside the vehicle. The control units (ECUs) receive the information gathered from the MEMS.

• Using this data, the connected control units protect the car against accidents. Such factors are thus expected to increase the market’s focus growth during the forecast period.

Major challenges hamper market growth

• The lack of regulation of airbags in medium and heavy vehicles is a major challenge that inhibits the market.

• Regardless of saving thousands of lives annually, global road safety regulators have not mandated the presence of airbags in medium- and heavy-duty vehicles (HCVs).

• Several arguments have been made for not having regulations mandating airbags in HCVs. For example, the number of passengers killed in heavy truck accidents is relatively lower than the number of passengers killed in passenger cars.

• This is thus likely to pose a challenge for the market in focus during the forecast period.

Insights into Market Drivers, Trends and Challenges, Historic Period (2017 to 2021) and Forecast Period (2023 to 2027) – Request a Sample Report!

What are the key data covered in this Automotive Airbag Sensor market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the automotive airbag sensor market between 2023 and 2027

• Precise estimation of the size of the Automotive Airbag Sensor market size and its contribution to the market focusing on the parent market

• Accurate predictions of upcoming trends and changes in consumer behavior

• Automotive Air Bag Sensors Market Growth Across APAC, Europe, North America, South Americaand Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information on suppliers

• Comprehensive analysis of factors that will challenge the growth of Automotive Airbag Sensor vendors

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Table of Contents:

1 Summary

2 Market landscape

3 Market size

4 Historical market size

5 Analysis of five forces

6 Market Segmentation by Application

7 Market segmentation by end user

8 Customer landscape

9 Geographical Landscape

10 drivers, challenges and trends

11 Supplier landscape

12 Supplier analysis

13 Appendix

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SOURCE Technavio