Asia Pacific Airbag Systems Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Asia-Pacific Airbag System Market is segmented by Airbag Type (Curtain, Front, Knee, Side, and Other), Automobile Type (Passenger, Commercial, Busses, and Trucks), End-User (OEM and After-Market), and Geography

Market Snapshot

Asia Pacific Airbag Systems Market_overview
Study Period: 2018 - 2026
Base Year: 2019
CAGR: >10 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The Asia-Pacific airbag system market is expected to register a CAGR over 10% during the forecasted period (2020 - 2025)

  • Every day around 3,700 people are killed globally in road traffic crashes involving cars and busses. Road traffic injuries are the leading cost of deaths for children and young adults aged 5-29 years. Passenger safety is of the utmost importance to the government as well as the companies. Regulations towards consumer safety and security have made manufacturers install safety devices in the cars. The government of many countries has made usage of seat belts and airbags mandatory. In 2019, The EU and Indian Government made it mandatory to have airbags and seat belt remainders.
  • CoVid-19 has a huge impact on the automotive airbag and seatbelt market as the automobile sales are very low. However after easing the lockdown, in the forecasted period the sales will increase substantially which will help the market grow.
  • The U.S Federal Trade Commision estimates that automotive parts industry loses 12 billion USD every year due to counterfeit products which are mainly manufactured in China this might also hinder the market growth in the Asia-Pacific region.

Scope of the report

The Asia-Pacific airbag system market report covers the latest trends and technological development in the automotive airbags and seatbelt market, demand by airbag type, vehicle type, by user type, countries and market share of major automotive airbag system manufacturers across the world.

Airbag Type
Curtain
Front
Knee
Sire
Other
Automobile Type
Passenger Vehicles
Commercial Vehicles
Busses
Trucks
Market By End Consumer
OEMs
Aftermarket
Geography
China
Japan
India
South Korea
Rest of Asia

Report scope can be customized per your requirements. Click here.

Key Market Trends

Raising demand for safety will fuel market growth 

The global automotive industry is on rising, and most economies started gaining momentum. By 2025 many developing countries are expected to have a high demand for cars, and improving the economy means more commercial vehicle sales. In 2025, the emerging markets are expected to account for 78 million vehicles, which developed economies will account for 34 million vehicle sales. With government regulations in place and customer demand for vehicle safety, this market is expected to grow.

Curtain airbags are the fastest-growing segment of the automotive airbag and seatbelt industry. They are mounted on side of seat or the door, usually on the roof above the side window. In the event of a crash, curtain airbags are used to protect the adult’s head. It has been proven that curtain airbags reduce the driver fatality risk by 45%. Recently there has been a growing demand for pedestrian airbags. These are automatically deployed when an automobile is about to collide with a pedestrian. Increasing income levels and awareness about safety is expected to drive this market in the coming years. The Transport Ministry of India announced that from 1st July 2019 onwards car manufacturers must install essential safety features. This must include driver airbags, seat belt reminders, speed alerts, and parking systems. Knee airbags would experience fast growth over the forecasted period. It is due to increase in demand of consumers for active leg protection and replacement of bolster seat.

asiapacific airbag

Making profits in Price Sensitive Market 

The automotive industry in most of the world is the price-sensitive market, and customers look for speed and aesthetics. But there is a trend of demand for more safety. OEM’s are struggling to find a balance between cost, performance, and safety. OEMs have started offering driver airbags as a basic feature owing to regulatory bodies which previously came with additional cost. All the premium cars are equipped with airbags including knee airbags, rear passenger airbags and more.  There have been many instances where vehicles were recalled back due to faulty airbags and seatbelts. From 2000 to 2016, At least 22 people died from the defective Takata airbags, and hundreds have been injured due to exploding inflators. Takata Corporation filed for bankruptcy after recalling the malfunctioning airbags. Key Safety Systems has acquired this company. Key Safety Systems (KSS) has developed Inflatable Seat Belts, which can protect the shoulder and torso area on inflation. Besides, they are capable of being deployed within as less as 40 milliseconds in the event of a crash

asia pacific airbag system market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Airbag Type

      1. 5.1.1 Curtain

      2. 5.1.2 Front

      3. 5.1.3 Knee

      4. 5.1.4 Sire

      5. 5.1.5 Other

    2. 5.2 Automobile Type

      1. 5.2.1 Passenger Vehicles

      2. 5.2.2 Commercial Vehicles

      3. 5.2.3 Busses

      4. 5.2.4 Trucks

    3. 5.3 Market By End Consumer

      1. 5.3.1 OEMs

      2. 5.3.2 Aftermarket

    4. 5.4 Geography

      1. 5.4.1 China

      2. 5.4.2 Japan

      3. 5.4.3 India

      4. 5.4.4 South Korea

      5. 5.4.5 Rest of Asia

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Hyundai Mobis Co Ltd

      2. 6.2.2 ZF Friedrichshafen

      3. 6.2.3 Autoliv Inc

      4. 6.2.4 Denso Corporation

      5. 6.2.5 Toshiba Corporation

      6. 6.2.6 Key Safety Systems

      7. 6.2.7 Continental AG

      8. 6.2.8 Robert Bosch GmbH

      9. 6.2.9 GWR safety systems

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Asia Pacific Airbag Systems Market market is studied from 2018 - 2026.

The Asia Pacific Airbag Systems Market is growing at a CAGR of >10% over the next 5 years.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!