Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The automobile airbag sensor market is dependent upon different elements that altogether characterize its growth and elements. One of the key drivers is the worldwide accentuation on vehicle wellbeing and the ceaseless development of auto security guidelines. As state run administrations overall order the execution of advanced safety highlights in vehicles, the interest for airbag systems and, subsequently, airbag sensors intensify. These sensors assume a basic part in distinguishing impact powers and setting off convenient airbag deployment, adding to vehicle security.
The critical scene is a basic variable impacting the auto airbag sensor market. Serious competition among sensor makers prompts consistent advancement and the improvement of high-execution sensor systems. Organizations endeavor to separate their items by offering advanced highlights, further developed precision, and similarity with different vehicle types. This serious climate benefits consumers by giving a scope of choices and driving progressions in airbag sensor innovation.
Buyer awareness and inclinations contribute essentially to showcase patterns. As car clients become more educated about wellbeing elements and request upgraded security execution, the significance of compelling airbag sensor systems develops. Producers answer by integrating easy to use highlights, for example, versatile airbag deployment and multi-stage airbags, to meet buyer assumptions and further develop by and large vehicle wellbeing.
Fluctuations in the car market, remembering changes for vehicle creation volumes and customer buying conduct, impact the interest for airbag sensor systems. Financial nosedives might prompt a fleeting stoppage in vehicle creation, influencing the market for airbag sensors, while times of growth and expanded vehicle deals stimulate interest.
As the car business moves towards sustainability, makers are investigating harmless to the ecosystem materials and creation processes for sensor systems. Moreover, the coordination of sensors in advanced driver assistance systems (ADAS) and autonomous vehicles adds to the general objective of lessening mishaps and further developing street safety.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | 6.36% (2023-2032) |
Automotive Airbag Sensor Market Highlights:
Automotive Airbag Sensor Market Overview
Automotive Airbag Sensor Market Size was valued at USD 3.5 Billion in 2022. The Automotive Airbag Sensor market industry is projected to grow from USD 3.7 Billion in 2023 to USD 6.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.36% during the forecast period (2023 - 2032). Growing use of airbags in trucks and light commercial vehicles (LCV) due to the automotive industry, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Airbag Sensor Market Trends
-
Growing automobile industry is driving the market growth
The need for airbags used in trucks and light commercial vehicles (LCV) is the main factor driving the market for air bag sensors. The need for airbags in cars is rising as fatal accident rates rise. For instance, the association for safe international road travel estimates that there are 3,287 fatalities attributed to traffic accidents per day. In order to improve facilities for people's safety, automakers are concentrating on including safety features in their models of vehicles. For instance, the European automaker will receive knee airbags by 2019, according to a statement from German auto part producer ZF Friedrichshafen AG.
Significantly fueling market expansion is increased car safety with additional airbags. Over a million people die as a result of traffic accidents every year. By exercising caution and putting safety systems in cars, these fatalities can be reduced. One of the safety features in cars that can lessen the amount of accidents-related injuries and fatalities is the airbag. The sides of automobile doors, the front instrument panel, and steering wheels all include these airbags.
Even if a driver forgets to fasten their seatbelt, the airbag will keep them from hitting their head in the case of a collision. Government agencies have enforced regulations on the automotive sectors requiring the installation of airbag safety modules in car models due to the benefits of airbag systems in automobiles. The effectiveness of the sensors employed to manufacture these safety modules is their sole determinant. The air bags are set triggered by sensors, which also properly measure the collision's impact. Due to their extensive use in last-mile connectivity, distribution of goods, and transportation of lightweight construction materials, LCVs have a high demand for airbags. Additionally, a rise in per capita income and a quickening of urbanization have increased the use of automobiles globally. For instance, the sales or registration of new passenger cars increased to 69.5 million units in 2016 from 66.3 million units, according to the International Organization of Motor Vehicle Manufacturers. Thus, driving the Automotive Airbag Sensor market revenue.
Automotive Airbag Sensor Market Segment Insights
Automotive Airbag Sensor Types of Airbags Insights
The Automotive Airbag Sensor Market segmentation, based on Types of Airbags, includes side, knee, rear, and front. In 2022, the front segment had the biggest market share, and it is anticipated that it would continue to hold that position during the forecast period. This is explained by the high frontal airbag penetration rate in passenger cars.
Automotive Airbag Sensor Mode of Sensors Insights
The Automotive Airbag Sensor Market segmentation, based on Mode of Sensors, includes mechanical and electrical. Due to technological developments in the type of sensors used in new generation cars, the electrical category had the greatest market share in 2022.
Automotive Airbag Sensor Types of Sensors Insights
The Automotive Airbag Sensor Market segmentation, based on Types of Sensors, includes accelerometer, impact, pressure, tachometers, brake sensors, and gyroscopes. Due to rising consumer awareness of the importance of child and passenger safety in automobiles, the impact category led the worldwide automotive airbag sensor market in 2022.
Automotive Airbag Sensor Application Insights
The Automotive Airbag Sensor Market segmentation, based on Application, includes cars, motor bikes, air planes, spacecraft, and military. In 2022, the cars segment had the biggest market share worldwide. This can be attributable to the rise in front-end collision-related fatalities and injuries. Government mandates for driver safety are also anticipated to support market growth during the projection period.
Figure 1: Automotive Airbag Sensor Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Automotive Airbag Sensor Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Automotive Airbag Sensor Market dominated this market in 2022. During the forecast period, market growth in the region is anticipated to be fueled by the presence of strict regulations and norms as well as a high rate of traffic accidents. Additionally, it is anticipated that high levels of vehicle production and sales, particularly of luxury vehicles, will favorably impact market expansion. Further, the U.S. Automotive Airbag Sensor market held the largest market share, and the Canada Automotive Airbag Sensor market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Automotive Airbag Sensor Market Share By Region 2022 (Usd Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Automotive Airbag Sensor market accounts for the second-largest market share, due to the swelling demand for safety features in vehicles and the rising number of regulations on vehicle safety. Further, the German Automotive Airbag Sensor market held the largest market share, and the UK Automotive Airbag Sensor market was the fastest growing market in the European region
The Asia Pacific Automotive Airbag Sensor market is expected to register significant growth from 2023 to 2032. The increasing need for driver and passenger safety, increased vehicle production, and expanding use of passive and active safety technologies are all contributing factors. Moreover, China’s Automotive Airbag Sensor market held the largest market share, and the Indian Automotive Airbag Sensor market was the fastest growing market in the Asia-Pacific region.
Automotive Airbag Sensor Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Automotive Airbag Sensor market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Automotive Airbag Sensor industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Automotive Airbag Sensor industry to benefit clients and increase the market sector. In recent years, the Automotive Airbag Sensor industry has offered some of the most significant advantages to medicine. Major players in the Automotive Airbag Sensor market, including Autoliv Inc., Continental AG, Denso Corporation, Freescale Semiconductor, Key Safety Systems, Mitsubishi Electric Co., Ltd., Robert Bosch Corporation, Takata Corporation, Toyoda Gosei, and TRW Automotive, are attempting to increase market demand by investing in research and development operations.
The automobile firm Continental AG (Continental) produces and sells brake systems, powertrain and chassis systems, vehicle electronics, instruments, infotainment solutions, tires, and technical elastomers. For a variety of customers, including those who own passenger cars, trucks, buses, and vehicles used on construction sites as well as special vehicles, bicycles, and motorbikes, the company also sells tires and offers tire repair services. Under the Elektrobit, VDO, Uniroyal, Phoenix, Matador, and other brands, Continental markets its products. Customers from Asia, Europe, North America, and other continents are catered to by the company. North America, Africa, South America, Europe, Asia, and Australia are the continents where it has operational facilities. The headquarters of Continental are in Hannover, Niedersachsen, Germany. The production of one million Airbag Control Units (ACUs) at Continental's Bengaluru factory accomplished a significant milestone in December 2021.
The company Mitsubishi Electric Corp. creates, produces, and sells electrical and electronic equipment. Among the products offered by the company are turbine generators, nuclear power plant, and power electronics equipment, as well as motors, transformers, circuit breakers, gas-insulated switchgear, switch control, and display devices. Additionally, it offers building security and management systems, escalators, elevators, electrical equipment for locomotives and rolling stock, transmission and distribution systems, and more. The business offers a variety of services, including logistics, finance, real estate, and advertising. Mitsubishi Electric provides services to the information processing and communications, satellite communications, consumer electronics, industrial technology, construction equipment, energy, and transportation industries. The business conducts business throughout the CIS, the Americas, the Asia-Pacific, Europe, Middle East, and Africa. The headquarters of Mitsubishi Electric are located in Chiyoda-Ku, Tokyo, Japan. Mitsubishi Electric stated in October 2019 that a new car component manufacturing would be established in Gujarat.
Key Companies in the Automotive Airbag Sensor market include
- Autoliv Inc.
- Continental AG
- Denso Corporation
- Freescale Semiconductor
- Key Safety Systems
- Mitsubishi Electric Co., Ltd.
- Robert Bosch Corporation
- Takata Corporation
- Toyoda Gosei
- TRW Automotive
Automotive Airbag Sensor Industry Developments
September2022 In order to improve road safety, DENSO Corporation has revealed that it has increased the detecting angle of its vision sensor. This will enable the sensor to better identify bicycles and pedestrians around a moving vehicle. Some versions of the Subaru Legacy Outback, which was unveiled on April 13, 2022 for the North American market, and the brand-new Subaru Crosstrek*1, which was unveiled on September 15, 2022 for the Japanese market, both use the vision sensor.
Automotive Airbag Sensor Market Segmentation
Automotive Airbag Sensor Types of Airbags Outlook
- Side
- Knee
- Rear
- Front
Automotive Airbag Sensor: Mode of Sensors Outlook
- Mechanical
- Electrical
Automotive Airbag Sensor Types of Sensors Outlook
- Accelerometer
- Impact
- Pressure
- Tachometers
- Brake Sensors
- Gyroscopes
Automotive Airbag Sensor Application Outlook
- Cars
- Motor bikes
- Air planes
- Spacecraft
- Military
Automotive Airbag Sensor Regional Outlook
-
North America
- US
- Canada
-
Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
-
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
-
Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
