Automotive Airbags and Seatbelts Market Report 2024: Trends, Strategies, And Opportunities

The Business Research Company’s Automotive Airbags and Seatbelts Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 28, 2024 /EINPresswire.com/ -- The global automotive airbags and seatbelts market has experienced significant growth in recent years. It is projected to increase from $32.08 billion in 2023 to $34.62 billion in 2024, at a compound annual growth rate (CAGR) of 7.9%. It will grow to $47.17 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. This growth is attributed to rising awareness of vehicle safety, expansion in the automobile industry, increased consumer demand for advanced safety features, and higher road traffic and accident rates.

Rising Vehicle Production Drives Market Expansion
The surge in vehicle production is a major factor driving the automotive airbags and seatbelts market. This rise is fueled by growing demand for electric and hybrid vehicles, as well as the advent of autonomous vehicles. Airbags and seatbelts are crucial for enhancing vehicle safety, designed to reduce injury risks by restraining occupants and cushioning impacts during collisions. According to the European Automobile Manufacturers Association, global motor vehicle production reached 85.4 million units in 2022, reflecting a 5.7% increase from the previous year. This growth in vehicle production is set to propel the automotive airbags and seatbelts market forward.

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Key Players and Market Innovations
Leading companies in the automotive airbags and seatbelts market include Robert Bosch GmbH, DENSO Corporation, ZF Friedrichshafen AG, Continental AG, and The Hyundai Motor Group. These companies are investing in smart seat belt technology to enhance vehicle safety and comply with evolving regulations. For example, in January 2024, ZF Friedrichshafen AG launched innovative smart seat belt technology featuring a multi-stage load limiter (MSLL). This technology improves adaptability by adjusting belt force limitations based on occupant size and weight, thereby enhancing safety during accidents and helping manufacturers meet the NCAP Roadmap 2030 requirements.

Trends Shaping the Market
Key trends in the automotive airbags and seatbelts market include:
•Technological advancements in safety features
•Integration of child safety systems
•Adoption of advanced airbag systems
•Use of lightweight and sustainable materials
•Development of integrated interlock systems

Market Segmentation
• By Airbag Types: Frontal Airbags, Knee Airbags, Side or Curtain Airbags
• By Seatbelt Type: 2 Point, 3 Point, 5 Point, Other Seatbelt Types
• By Vehicle Types: Passenger Cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCVs)
• By Sales Channels: Original Equipment Manufacturer (OEM), Aftermarket

Geographical Insights: Asia-Pacific Leading the Market
Asia-Pacific was the largest region in the automotive airbags and seatbelts market in 2023 and is expected to maintain its leadership in the coming years. The region's extensive automotive manufacturing base and increasing vehicle production contribute significantly to the market's growth.

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Automotive Airbags And Seatbelts Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Automotive Airbags And Seatbelts Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on automotive airbags and seatbelts market size, automotive airbags and seatbelts market drivers and trends, automotive airbags and seatbelts market major players, competitors' revenues, market positioning, and market growth across geographies. The automotive airbags and seatbelts market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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