North America Airbag Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 3.40 Billion |
| Market Size (2029) | USD 4.5 Billion |
| CAGR (2024 - 2029) | > 5.77 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Airbag Systems Market Analysis
The North America Airbag Systems Market size is estimated at USD 3.40 billion in 2024, and is expected to reach USD 4.5 billion by 2029, growing at a CAGR of greater than 5.77% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market during the first half of 2020 due to lockdowns and shutdowns of manufacturing units. The market also faced difficulties across the supply chain as the sources of raw materials and components were located at varied locations. However, as restrictions eased, demand started restoring back to pre-pandemic levels, most of which were supported by key players and their active presence in the market.
The North American airbag systems market is a significant segment of the automotive industry, primarily driven by the demand for enhanced passenger safety features in vehicles. Airbags have become an essential component of modern vehicles, protecting occupants during a collision by mitigating the force of impact. The North American airbag systems market comprises the United States and Canada and is expected to grow moderately over the forecast period.
The stringent government regulations regarding vehicle safety have significantly driven the North American airbag systems market. The National Highway Traffic Safety Administration (NHTSA) is responsible for setting safety standards for vehicles and has mandated the installation of airbag systems in all new passenger cars and light-duty trucks. The increasing number of road accidents and fatalities has also contributed to the growth of the market, as consumers are becoming more aware of the importance of safety features in vehicles.
- Major players such as Autoliv, Takata, TRW Automotive, and Continental AG dominate the North American airbag systems market. These companies invest heavily in research and development to improve the performance and safety features of airbag systems. In addition, they are also focusing on expanding their product portfolio to meet the diverse needs of customers. The market is highly competitive, and the players often engage in mergers and acquisitions to expand their market presence.
- In conclusion, the North American airbag systems market is expected to grow at a moderate rate due to the high demand for safety features in vehicles. The stringent government regulations, increasing awareness about safety, and the presence of major players in the market are expected to drive the growth of the market. The players in the market are investing in research and development to maintain their market position and expand their product portfolio.
North America Airbag Systems Market Trends
Passenger Car is Anticipated to Register Highest Growth
Passenger Cars sales in North America have been a significant contributor to the region's automotive industry. Passenger vehicles include sedans, sports utility vehicles (SUVs), pickup trucks, and minivans, which are designed primarily for the transportation of people. These vehicles are a significant part of the North American transportation system and are widely used by individuals and families.
In recent years, the passenger vehicle market in North America has witnessed steady growth due to several factors. One of the primary reasons for this growth is the increasing demand for personal transportation. With the rise in urbanization and the growing middle class, more people are looking to own a car for convenience and mobility. For instance, in 2022, the auto industry in the United States sold approximately 13.75 million light vehicle units.
Another contributing factor to the growth of passenger vehicle sales in North America is the availability of financing options. Banks and other financial institutions are offering attractive loan options, making it easier for individuals to purchase a new or used car. This has led to an increase in the number of first-time car buyers, driving the growth of the market.
Moreover, the trend towards larger vehicles, such as SUVs and pickup trucks, has also contributed to the growth of the passenger vehicle market in North America. These vehicles are popular among families and individuals who need more space and utility for their daily activities, such as hauling cargo or towing trailers.
The shift towards electric and hybrid vehicles has also contributed to the growth of the passenger vehicle market in North America. The increasing concern about the environment and the need for sustainable transportation has led to a surge in demand for electric and hybrid vehicles, providing further growth opportunities for the market.
In conclusion, passenger vehicle sales in North America have witnessed steady growth due to the increasing demand for personal transportation, the availability of financing options, the trend toward larger vehicles, and the shift toward electric and hybrid vehicles. The passenger vehicle market in North America is expected to continue growing in the future, providing opportunities for manufacturers, suppliers, and other stakeholders in the automotive industry.
United States Remains Largest Market
The United States airbag systems market is one of the largest markets in the world, driven by several factors, such as government regulations, consumer awareness, and the presence of major players in the market.
Passenger car sales in the United States are also increasing year on year. For instance, in the United States, new vehicle sales of 1,161,393 units for the month of February represented an increase of 9.0% from January 2023 and an increase of 9.1% from one year ago in February 2022 when supply chains restricted production. There were 24 selling days in February 2023, the same as the 24 selling days in February 2022.
February's passenger car sales increased 6.9% to 239,370 units, resulting in a 20.6% market share, while sports utility vehicle (SUV) and truck sales increased 9.7% to 922,023 units resulting in a 79.4% market share. Light vehicle seasonally adjusted annualized sales (SAAR) for February 2023 was 15.19 million units versus 13.96 million units one year ago.
With its vehicle inventories improved since last year, General Motors' monthly sales rose 14.7%, and Ford's sales increased 22.0%, though Stellantis sales fell 12.3%.
Tesla sales increased 43.6% from last February to 60,325 units, giving it a US market share of 5.2%. EV startup Rivian sales were up 580.4% to 2,667 vehicles in February, Karma sales were down 90.5% to 2 units, Polestar sales were up 141.6% from the same month last year to 1,034 vehicles, and Lucid Motors sales were up 237.0% to 455 units.
The US government has mandated the installation of airbag systems in all new passenger cars and light-duty trucks since the early 1990s. This has been a significant driver for the growth of the market in the region. The National Highway Traffic Safety Administration (NHTSA) has set standards for airbag systems, such as the number of airbags to be installed, their location, and their performance criteria, to ensure the safety of passengers.
Another factor driving the growth of the US airbag systems market is consumer awareness about safety features in vehicles. Consumers are becoming increasingly conscious of the safety ratings of vehicles and are willing to pay extra for advanced safety features such as airbag systems. This has led to an increase in demand for airbag systems in vehicles, especially in the passenger vehicle segment.
Furthermore, the presence of major players in the market has contributed significantly to the growth of the US airbag systems market. The market is dominated by companies such as Autoliv, Takata, TRW Automotive, and Continental AG, which have a significant market share in the region. These companies are investing heavily in research and development to improve the performance and safety features of airbag systems.
The US airbag systems market is expected to grow in the future due to the increasing demand for advanced safety features in vehicles. Manufacturers are incorporating advanced safety features in their vehicles to cater to this demand, driving the growth of the market. The increasing popularity of electric and hybrid vehicles is also expected to contribute to the growth of the market, as these vehicles require specialized airbag systems to ensure the safety of passengers.
In conclusion, the US airbag systems market is driven by government regulations, consumer awareness, and the presence of major players in the market. The market is expected to grow in the future due to the increasing demand for advanced safety features in vehicles and the shift towards electric and hybrid vehicles. The major players in the market are investing in research and development to maintain their market position and expand their product portfolio to cater to the growing demand for airbag systems.
North America Airbag Systems Industry Overview
The North American airbag systems market is fragmented, with many players accounting for a small market share. Some of the prominent companies in the United Kingdom Airbag Systems Market are Autoliv Inc., Hyundai Mobis, Robert Bosch Gmbh, Denso Corporation, Continental AG , and others. The major players in the country are entering into strategic partnerships with global leaders to gain considerable market share.
North America Airbag Systems Market Leaders
Autoliv Inc.
Continental AG
Denso Corporation
Robert Bosch GmbH
Hyundai Mobis
*Disclaimer: Major Players sorted in no particular order
North America Airbag Systems Market News
- June 2023: Autoliv, Inc. unveiled the technologically developed new passenger airbag module which is based on Bernoulli's Principle and can inflate larger airbags more efficiently as well as reduce development time and cost.
- February 2022: Autoliv, Inc., the worldwide leader in automotive safety systems, and Nuro, a leading autonomous vehicle company, collaborated to ensure a high safety standard for Nuro's new third-generation, production-grade autonomous delivery vehicle.
North America Airbag Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Increasing Demand for Electric Vehicles
4.1.2 Others
4.2 Market Restraints
4.2.1 Product Recalls
4.2.2 Others
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Component Type
5.1.1 Airbag Module
5.1.2 Crash Sensors
5.1.3 Monitoring Unit
5.1.4 Other Component Types
5.2 Airbag Type
5.2.1 Frontal Airbag
5.2.2 Knee Airbag
5.2.3 Side & Curtain Airbag
5.3 Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.4 Coating Type
5.4.1 Neoprene-Coated
5.4.2 Non-Coated
5.4.3 Silicone-Coated
5.4.4 Other Coating Types
6. Geography
6.1 North America
6.1.1 United States
6.1.2 Canada
6.1.3 Rest Of North America
7. COMPETITIVE LANDSCAPE
7.1 Vendor Market Share
7.2 Company Profiles*
7.2.1 Autolive Inc.
7.2.2 Robert Bosch GmbH
7.2.3 Continental AG
7.2.4 Delphi Automotive Plc
7.2.5 Denso Corporation
7.2.6 Takata Corporation
7.2.7 Toyoda Gosei Co. Ltd.
7.2.8 TRW Automotive
7.2.9 Hyundai Mobis Co. Ltd.
7.2.10 Key Safety Systems
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
North America Airbag Systems Industry Segmentation
An airbag is a vehicle occupant-restraint system using a bag designed to inflate extremely quickly, then quickly deflate during a collision. It consists of an airbag cushion, a flexible fabric bag, an inflation module, and an impact sensor.
The North American airbag systems market is segmented by component type, airbag type, vehicle type, coating type, and geography. By component type, the market is segmented into airbag modules, crash sensors, monitoring units, and other component types. By airbag type, the market is segmented as frontal airbags, knee airbags, and side & curtain airbags. By vehicle type, the market is segmented into passenger cars and commercial vehicles. By coating type, the market is segmented into neoprene-coated, non-coated, silicon-coated, and other coating types. By country, the market is segmented into the United States, Canada, and the Rest of North America.
The report offers market size and forecasts for all the above segments in value (USD).
| Component Type | |
| Airbag Module | |
| Crash Sensors | |
| Monitoring Unit | |
| Other Component Types |
| Airbag Type | |
| Frontal Airbag | |
| Knee Airbag | |
| Side & Curtain Airbag |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| Coating Type | |
| Neoprene-Coated | |
| Non-Coated | |
| Silicone-Coated | |
| Other Coating Types |
North America Airbag Systems Market Research FAQs
How big is the North America Airbag Systems Market?
The North America Airbag Systems Market size is expected to reach USD 3.40 billion in 2024 and grow at a CAGR of greater than 5.77% to reach USD 4.5 billion by 2029.
What is the current North America Airbag Systems Market size?
In 2024, the North America Airbag Systems Market size is expected to reach USD 3.40 billion.
Who are the key players in North America Airbag Systems Market?
Autoliv Inc., Continental AG, Denso Corporation, Robert Bosch GmbH and Hyundai Mobis are the major companies operating in the North America Airbag Systems Market.
What years does this North America Airbag Systems Market cover, and what was the market size in 2023?
In 2023, the North America Airbag Systems Market size was estimated at USD 3.20 billion. The report covers the North America Airbag Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the North America Airbag Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Airbag Systems Industry Report
Statistics for the 2024 North America Airbag Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Airbag Systems analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
