The global vehicle side airbag market is projected to witness a CAGR of 5.49% during the forecast period, reaching a total market size of US$5.639 billion in 2024 from US$4.092 billion in 2018. The global vehicle side airbag market is expected to grow at a steady rate over the coming years growing demand for an efficient, convenient, and safe driving experience. Today, due to the increasing number of accidents, there is a requirement for safety systems and devices that would prevent the occupants from serious injury and damage if the car crashes with a stationary or moving object.
Safety Airbags or airbags are occupant restraint systems that use a bag that is designed such that it inflates extremely quickly during the collision and deflates after a collision. The main components are an airbag cushion, which is a flexible bag made of fabric, an inflation module and an impact sensor. Its main function is to provide a soft hinderance or cushion to the driver and passengers in the event of a crash. Side Airbags are types of airbags that are deployed from the sides of the vehicle protecting the occupants against injury in case they come in contact with the vehicle when the vehicle is in motion and it crashes suddenly. Side airbag is generally of two types- side torso airbag and side curtain airbag.
Another feature of the side airbag is to provide an energy-absorbing surface between the persons inside the vehicle and the door, window, and body pillar so that no one these cause injury to the occupants. Modern vehicles may include many airbag configurations ranging from side torso airbags or the side curtain airbag. The key players are involved in the advancement and application of side airbags in all types of vehicles. For example, a company Scania has introduced side rollover curtain airbags in their new generation trucks. Another company ZF Friedrichshafen AG, in 2015, showcased a new far side airbag that is installed on the inner facing side of the driving seat can provide protection to both the driver and the passenger so that they don’t collide with each other.
The market can is driven by the need for increased automotive safety while driving. Although the market growth can be restrained as the replacement cost of airbags is high.
On the basis of type, the global vehicle side airbag market is segmented as a side torso and side curtain. The side curtain airbag holds a notable amount of share in the market as it provides more overall protection and comes in most of the newer models.
By Vehicle Type
By Vehicle Type, the global vehicle side airbag market can be segmented as a passenger vehicle, light commercial vehicle and heavy commercial vehicle. Passenger Cars hold a significant share in the market due to more demand and production of passenger vehicles. Commercial vehicles also hold a notable amount of share in the market which is projected to increase over the coming years
By Sales Channel
By Sales Channel, the global vehicle side airbag market can be segmented as OEMs and aftermarket. OEMs hold a significant amount of share in the market owing to the fact that most car companies sell cars with pre-installed side airbags.
Geographically, the global vehicle side airbag market is segmented as North America, Europe, Middle East & Africa, Asia-Pacific and South America. Asia Pacific is expected to grow at an impressive rate owing to more production and demand in the region.
The global vehicle side airbag market is competitive owing to the presence of well-diversified international, regional and local players. The competitive landscape details strategies, products, and investments being done by key players in different technologies and companies to boost their market presence.
The global vehicle side airbag market has been segmented by component, type, vehicle type, sales channel, and geography.
By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicle
By Sales Channel
Middle East and Africa
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