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Automotive Airbags Market Size, Share & COVID-19 Impact Analysis, By Product Type (Frontal Airbag, Side Airbag, Knee Airbag, Others), By Vehicle Type (Passenger Car, Commercial Vehicle), and Regional Forecasts, 2022-2029

Region : Global | Format: PDF | Report ID: FBI101699



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The global automotive airbags market size was valued at USD 47.96 billion in 2021. The market is projected to grow from USD 50.12 billion in 2022 to USD 81.81 billion by 2029, exhibiting a CAGR of 7.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with automotive airbags experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a growth of 17.11% in 2020 as compared to 2019.

Automotive airbags are vehicle passenger restraint devices that help protect passengers' heads and chests in a collision or crash. These are designed to respond and inflate in milliseconds, providing cushioning to car passengers. The market is expected to grow steadily over the projected period.


Drop-in New Vehicles Sales Amid COVID-19 to Hamper Market Growth

Numerous regions remain weak due to their limited capacity to manage additional outbreaks of COVID-19. Irregular and sudden lockdowns being reintroduced in various countries have negatively impacted the business. This has further impeded automaker's revenue generation. However, in Asian countries, leading automakers, such as Hyundai and Maruti Suzuki, are witnessing a steady recovery in automobile production and consignments. For instance, the sale of Hyundai in June was 21,000 units and was doubled in July to 42,000 in India.

There is a massive fall in the market growth. For example, one of the largest makers, Autoliv, announced unprecedented challenges in the second quarter after the European and North American markets reached the threshold in April due to the pandemic.

Protectionist actions by the U.S. government against Chinese imports have led to imports from alternative sources among various other nations. The recent drops in the U.S. overall trade shortfall reflect changes in global trade, precisely affected by the COVID-19 outbreak.

Automotive component manufacturers, such as Autoliv and Toyoda Gosei, witnessed a downwards trend in the revenue by approximately 10-12% due to the COVID-19 pandemic. However, the arrival of COVID-19 vaccines and opening of markets in early 2021 acted as a relief for the automotive industry.


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Change in Consumer Approach Concerning Vehicle Safety Will Propel the Demand for Airbags

Due to strict regulations imposed by international governing bodies such as the European Commission and the NHTSA (National Highway Transport and Safety Authority) and safety awareness campaigns carried out by various private organizations, NGOs, and governments, the passenger safety awareness is increasing amongst customers. These factors are eventually leading customers to increase their spending on new safety systems and features in vehicles. One of the major factors that fuels the demand for safety features is demonstrated technology. Reliability, safety, and comfort factors act as a catalyst and influence the consumers' buying preference. To ensure customers safety, various companies are working on new airbag technologies. For instance, ZF developed an external airbag in July 2019, which will soften the impact of the incoming vehicle, eventually reducing damage. Moreover, this smart automotive airbags system activates it as soon as it detects an incoming impact .


Rise in Vehicle Sales Will Set a Positive Trend for Market Growth

New premium and mid-level passenger car models entering the market are equipped with airbags as standard equipment. Furthermore, the need for safety systems is likely to rise drastically in all types of vehicles in the coming years. Also, rising disposable incomes of the growing middle-class population, and growing urbanization will propel the sale of all types of vehicles, which will boost the market growth during the forecast period.

Increasing Regulatory Stringency Concerning Vehicle Safety Will Improve the Market Growth

The Intermodal Surface Transportation Efficiency Act of 1998 mandates all cars and light commercial vehicles sold in the U.S. be equipped with airbags on the front rider and passenger seats. Hence, the demand for airbags in the U.S. has been growing since then. Also, the Road Transport and Highways Minister Nitin Gadkari announced the approval of a draft GSR Notification to make a minimum of 6 airbags compulsory to enhance the safety of the occupants in motor vehicles carrying upto 8 passengers. Due to the implementation of these safety norms by governments, the demand has propelled significantly. Additionally, due to the growing demand, manufacturers are motivated to develop advanced airbag systems such as knee and side curtain airbags. Furthermore, the increasing demand for safety features from the consumers will lead to a positive growth for the market. Moreover, the increasing number of bags per car is a significant factor propelling the growth of the market.


Passenger Safety Compromise due to Cheap Airbags and High Cost of Airbag System Vehicles May Hamper the Market Growth

An airbag system is not a primary concern for car consumers in underdeveloped economies. Hence, many automotive manufacturers provide cheap airbags simply to adhere to safety regulations. However, to save money, passenger safety is compromised and the durability of that airbag system is not up to the expectation of consumers. This discourages consumers to buy vehicles equipped with an airbag system. Hence, this industry faces two important challenges such as to cut off cheap airbag manufacturers and secondly work on the high cost of airbag system for all types of vehicles.


By Product Type Analysis

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Frontal Airbag Segment Dominates the Market Owing to Standard Fitment of Frontal Airbags in All Types of Models

Based on product type, the market is bifurcated into frontal, side, knee, and others.

The frontal segment holds the largest share globally, and is expected to lead during the projected period. The frontal segment will be dominating the global market in the forecast period due to technological advancements. Furthermore, driver airbags have been mandatory in several countries globally. Moreover, numerous legislative laws require automobiles to incorporate front passenger airbags. As a result, the segment accounted for a sizable percentage.

The knee segment witnessed an upsurge in demand in 2021. The knee segment held 13.58% market share in 2021. The market during the forecast period will grow due to more adoption of knee airbags in different models by multiple OEMs.

The side airbag segment witnessed high growth in 2021. The side segment accounted for 26.77% of the global market share in 2021. The segment will exhibit strong growth throughout the forecast period due to increasing vehicle comfort and safety regulation around the globe.

By Vehicle Type Analysis

Passenger Car Segment Dominates the Market Owing to Rising Sales in Developed as Well as Untapped Markets

Based on vehicle type, the market is segregated into passenger car and commercial vehicle.

The passenger car segment currently holds the largest market share (76.37%) and is anticipated to continue holding significant market share in the forecast period. Rising disposable income of people and rising sales of passenger cars post COVID-19 in developing and developed economies will accelerate this segment's growth. With the growth of freight logistics, last mile delivery and growing urban infrastructure, the commercial vehicle segment will also exhibit lucrative growth opportunities during the forecast period.


Asia Pacific Automotive Airbags Market Size, 2021 (USD Billion)

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The Asia Pacific market stood at USD 31.44 billion in 2021 and is projected to reach USD 53.25 billion by 2029 at a CAGR of 8.0% over the forecast period. The region is likely to dominate the global automotive airbags market share as an automotive hub due to increasing vehicle production and exports per year in various countries of the region. This growth can be attributed to increasing spending on passenger safety, which is anticipated to fuel the demand for automotive and automotive safety components. The growing adoption of vital governmental initiatives and adoption of EVs are expected to promote the development of the market in the region during the forecast period.

Europe holds the second-largest position in the global market due to the presence of key automotive and automotive solutions players in this region. Increasing consumer preference toward EVs, connected and autonomous vehicles, and shared mobility is anticipated to propel the market growth in this region.

The North America market stood at USD 2.45 billion in 2021 and is projected to reach USD 3.67 billion by 2029 at a CAGR of 6.8% over the projected period. North America is expected to show significant growth in the market over the forecast period. The rising stringent government regulation for vehicle safety and standard, fast adoption of new technologies, and high expenditure on product innovation are expected to propel the market in the North America region. Moreover, in North America, due to strict implementation of regulations, frontal airbags are mandatory standard equipment for all passenger cars and light commercial vehicles since 1998.

The rest of the world comprises the Middle East & Africa. This region’s contribution to the global market is less as compared to other regions. This is due to fewer automotive OEMs & airbag suppliers, less presence of all types of vehicles, and low adoption of technology. However, it is expected to grow in the future at a CAGR of 8.4%.


Autoliv Inc, Toyoda Gosei Co. Ltd, and Joyson Safety System are the Leaders in the Market

The market is consolidated due to its strong product portfolio and noteworthy distribution network of major companies in developed and developing countries.

The key market players are focusing on developing technologically advanced automotive airbags. For instance, Autoliv is a prominent player, which develops life cell airbags that will help provide protection regardless of how the driver and passenger are seated. Other manufacturers are developing advanced airbag systems in a similar way such as knee, side, and roof airbags.


  • Autoliv Inc (Sweden )

  • Joyson Safety System (U.S.)

  • Robert Bosch GmbH (Germany)

  • Toyoda Gosei Co. Ltd (Japan)

  • Denso Corporation (Japan)

  • Hyundai Mobis Co. Ltd (South Korea)

  • Magna International (Canada)

  • Aptiv PLC (Ireland)

  • ZF Friedrichshafen AG (Germany)

  • Valeo SA (France)


  • November 2021 Autoliv, Inc., a supplier of automotive safety systems, and SSAB, a global steel manufacturer, have begun working together to research and create fossil-free steel components for car safety goods such as airbags and seatbelts.

  • February 2022 - Nuro, a leading autonomous vehicle business, and Autoliv, Inc., a leader in automotive safety systems, are partnering to assure high safety standards for Nuro's new third-generation, production-grade autonomous delivery vehicle.

  • January 2022- Aptiv PLC, a global technology business focused on making mobility safer, greener, and more connected, announced today a definitive agreement to purchase Wind River for USD 4.3 billion in cash from TPG Capital, the private equity platform of global alternative asset management firm TPG.

  • March 2020 - Hyundai Mobis announced the certification of its new innovative roof airbag system by the National Highway Traffic Safety Association (NHTSA) for its use in passenger cars.

  • November 2021 - Autoliv Inc. announced a strategic partnership with Piaggio Group, one of the leading manufacturers of motorcycles and scooters. The collaboration is focused on the development of airbags for powered two-wheelers for enhanced safety.


An Infographic Representation of Automotive Airbags Market

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The global automotive airbags market report provides a detailed analysis of the market and focuses on crucial aspects such as leading companies, product types, and leading product applications. Besides this, the report offers insights into the market trends and highlights vital industry developments. In addition, the report encompasses several factors contributing to the market's growth in recent years.

Report Scope and Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value ( USD Billion)


By Product Type

  • Frontal Airbag

  • Side Airbag

  • Knee Airbag

  • Others

By Vehicle Type

  • Passenger Car

  • Commercial Vehicle

By Geography

  • North America (By Vehicle Type, By Product Type)

    • U.S. (By Vehicle Type)

    • Canada (By Vehicle Type)

    • Mexico (By Vehicle Type)

  • Europe (By Vehicle Type, By Product Type)

    • U.K. (By Vehicle Type)

    • Germany (By Vehicle Type)

    • France (By Vehicle Type)

    • Rest of Europe (By Vehicle Type)

  • Asia Pacific (By Vehicle Type, By Product Type)

    • China (By Vehicle Type)

    • Japan (By Vehicle Type)

    • India (By Vehicle Type)

    • South Korea (By Vehicle Type)

    • Rest of APAC (By Vehicle Type)

  • Rest of the World (By Vehicle Type, By Product Type)


Frequently Asked Questions

Fortune Business Insights says that the global market size was at USD 47.96 billion in 2021, and it is expected to reach USD 81.81 billion by 2029.

In 2021, Asia Pacific stood at USD 31.44 billion.

The market is projected to grow at a CAGR of 7.3 % and exhibit steady growth during the forecast period (2022-2029).

The frontal airbag segment is the leading segment in the market.

Increased vehicle production, focus on advanced technologies, and demand for safety-equipped vehicles will drive the market growth.

Autoliv Inc, Toyoda Gosei Co. Ltd, and Joyson Safety System are the major players in the market.

Asia Pacific dominated the market share in 2021.

The increasing adoption of electric mobility and favorable government initiatives to use lightweight materials are expected to drive market growth. Increased government initiative related to safety rules is expected to drive market growth.

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