The Automotive Airbags and Seatbelts Market is expected to grow from US$ 53744.00 million in 2021 to US$ 111,917.12 million by 2028 – Yahoo Finance
It is estimated to grow at a CAGR of 11. 8% from 2022 to 2028. The growing advancement in technology for airbags in the automotive industry is fueling the automotive airbags and seatbelts market growth.
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For instance, the computer-operated dual deploy or dual-stage airbags can deploy at two speeds.
Airbags deploy at the lower first stage in less severe accidents, usually about 70% of full force.In more severe accidents, both stages are deployed.
Further, side airbags effectively prevent the driver and passengers from head injuries due to the rigid areas of the vehicle in side-impact collisions.
Owing to the growth potential of frontal airbags, Acura has launched its three-chambered airbags, which deploy during a collision to protect the occupant’s head.It is designed to minimize head injuries in a collision.
This new airbag is available in the latest 2021 Acura TLX. Such initiative by the company can drive the automotive airbags and seatbelts market.
Airbag manufacturers focus on developing nylon-based fabrics coated with organic silicon instead of neoprene.These coated fabrics have a longer service life, stable performance, high wear resistance, and are lightweight.
New developments and innovations are coming up to enhance efficiency and widen the production capabilities of airbags which is fueling the growth of automotive airbags and seatbelts market.For example, in 2020, Asahi Kasei, a Japanese technology group, launched a cloth sewing program for airbags at Asahi Kasei Advance Vietnam, its Vietnamese subsidiary.
The leading manufacturers are continuously working toward the development of better-quality airbags to reduce road accident fatalities.A strong focus has also been placed on expanding production capacities, establishing new entities, and introducing an enhanced product portfolio.
For instance, in July 2019, ZF Friedrichshafen, a German car parts manufacturer, developed external smart airbags for vehicles that reduce the crash’s impact and decrease damage to the occupants. Similarly, in June 2021, Toyoda Gosei Co., Ltd. developed a driver-side airbag with a new structure that safely protects the driver. This airbag is used in the new Honda Civic in North America. Such innovative approaches by various manufacturers are driving the growth of automotive airbags and seatbelts market.
The technological advancements in seatbelts are strengthening the automotive airbags and seatbelts market growth.For instance, in September 2019, Hyundai Mobis announced that it had developed a “Safety Integrated Control Module” that ensures increased efficiency and safety in operating automotive safety devices.
This new development combined two separate electronic control units (ECUs) for airbags and electronic seatbelts into a single unit. Thus, such developments in technology for airbags and seatbelts are anticipated to drive the automotive airbags and seatbelts market.
The growing awareness among consumers about vehicle safety features and the rising willingness to pay an extra cost for featured airbags and seatbelts is a potential opportunity for automotive airbags and seatbelts market growth in coming years.The rise in demand for airbags from leading automotive makers and stringent mandatory regulations for deploying airbags propel the growth of automotive airbags and seatbelts.
For instance, in January 2022, the Indian government released a draft proposal mandating six airbags in all passenger cars manufactured from October 2022.In January 2018, South Korea announced the requirement for new cars fitted with front and rear …….