The global vehicle side airbag market is expected to grow at a CAGR of 5.76%, to reach a market size of US$4.505 billion in 2027 from US$3.044 billion in 2020.
The global vehicle side airbag market is expected to grow at a steady rate over the coming years due to increasing 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 protect 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 a 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 hindrance 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 crashes suddenly. A side airbag is generally of two types- a side torso airbag and a side curtain airbag.
Another feature of the side airbag is to provide an energy-absorbing surface between the people inside the vehicle and the door, window, and body pillar so that no one causes 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, the company Scania has introduced side rollover curtain airbags in their new generation of trucks. Another company, ZF Friedrichshafen AG, 2015, showcased a new far-side airbag that is installed on the inner-facing side of the driving seat and 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’s 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 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 is found in most of the newer models.
By Vehicle Type
By Vehicle Type, the global vehicle side airbag market can be segmented as passenger vehicles, light commercial vehicles, and heavy commercial vehicles. Passenger Cars hold a significant share of the market due to increased 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 into 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.
|Market Size Value in 2020||US$3.044 billion|
|Market Size Value in 2027||US$4.505 billion|
|Growth Rate||CAGR of 5.76% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments Covered||Component, Type, Vehicle Type, Sales Channel, And Geography|
|Regions Covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies Covered||Autoliv Inc., ZF Friedrichshafen AG, Joyson Safety Systems, TOYODA GOSEI Co., Ltd., Kolon Industries, Inc., NIHON PLAST CO., LTD., Hyundai Motor Group|
|Customization Scope||Free report customization with purchase|
The global vehicle side airbag market has been segmented by component, type, vehicle type, sales channel, and geography.
Frequently Asked Questions (FAQs)
Q1. What will be the vehicle-side airbag market size by 2027?
A1. The global vehicle-side airbag market is projected to reach a market size of US$4.505 billion in 2027.
Q2. What factors are anticipated to drive the vehicle side airbag market growth?
A2. 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.
Q3. What are the growth prospects for the vehicle-side airbag market?
A3. The vehicle side airbag market is expected to grow at a CAGR of 5.76% during the forecast period.
Q4. What is the size of the global vehicle side airbag market?
A4. Vehicle Side Airbag Market was valued at US$3.044 billion in 2020.
Q5. Which region holds the largest share of the vehicle side airbag market?
A5. Asia Pacific is expected to grow at an impressive rate owing to more production and demand in the region.
1.1. Market Overview
1.2. COVID-19 Scenario
1.3. Market Definition
1.4. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Global Vehicle Side Airbag Market Analysis, by Component
5.2. Airbag Module
5.3. Control Unit
6. Global Vehicle Side Airbag Market Analysis, by Type
6.2. Side Torso
6.3. Side Curtain
7. Global Vehicle Side Airbag Market Analysis, by Vehicle Type
7.2. Passenger Vehicle
7.3. Light Commercial Vehicle
7.4. Heavy Commercial Vehicle
8. Global Vehicle Side Airbag Market Analysis, by Sales Channel
9. Global Vehicle Side Airbag Market Analysis, by Geography
9.2. North America
9.3. South America
9.4.3. United Kingdom
9.5. Middle East and Africa
9.5.1. Saudi Arabia
9.6. Asia Pacific
9.6.3. South Korea
10. Competitive Environment and Analysis
10.1. Major Players and Strategy Analysis
10.2. Emerging Players and Market Lucrativeness
10.3. Mergers, Acquisitions, Agreements, and Collaborations
10.4. Vendor Competitiveness Matrix
11. Company Profiles
11.1. Autoliv Inc.
11.2. ZF Friedrichshafen AG
11.3. Joyson Safety Systems
11.4. TOYODA GOSEI Co., Ltd.
11.5. Kolon Industries, Inc.
11.6. NIHON PLAST CO., LTD.
11.7. Hyundai Motor Group
ZF Friedrichshafen AG
Joyson Safety Systems
TOYODA GOSEI Co., Ltd.
NIHON PLAST CO., LTD.
Hyundai Motor Group
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