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Global Automotive Airbag Sensor Market Size was valued at USD 3.9 Billion in 2022. The Automotive Airbag Sensor market industry is projected to grow from USD 3.9 Billion in 2023 to USD 6.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.46% during the forecast period (2023 - 2032). Due to the automotive sector, airbag usage is expanding in trucks and light commercial vehicles (LCV), are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The primary factor driving the market for air bag sensors is the demand for airbags used in trucks and light commercial vehicles (LCV). As the number of deadly accidents rises, so does the necessity for airbags in automobiles. For instance, according to the organisation for safe international road travel, 3,287 people die in traffic-related incidents every day. Automobile manufacturers are focusing on integrating safety elements in their models of automobiles in order to increase facilities for people's safety. For instance, the German auto part manufacturer ZF Friedrichshafen AG announced that the European automaker will get knee airbags by 2019.
Added airbags in cars have significantly boosted safety, which is a major driver of market expansion. Every year, incidents involving vehicles result in over a million fatalities. These fatalities can be decreased by being cautious and installing safety features in automobiles. The airbag is one of the automotive safety components that can reduce the number of accidents-related injuries and fatalities. These airbags can be found in steering wheels, front instrument panels, and the sides of car doors.
The airbag will prevent a driver from striking their head in the event of a crash even if they forget to buckle up. Due to the advantages of airbag systems in automobiles, government organizations have enforced laws on the automotive sectors requiring the installation of airbag safety modules in car models. The only factor influencing these safety modules is the performance of the sensors used in their production. The sensors that trigger the air bags also accurately detect the impact of the collision. LCVs have a strong need for airbags because of their widespread use in last-mile connectivity, distribution of products, and delivery of lightweight building materials. Globally, the usage of automobiles has increased as a result of rising per capita income and accelerating urbanization. According to the International Organization of Motor Vehicle Manufacturers, new passenger automobile sales or registration grew to 69.5 million units in 2016 from 66.3 million units. Thus, driving the Automotive Airbag Sensor market revenue.
The global 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.
The global 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.
The global Automotive Airbag Sensor market segmentation, based on Types of Sensors, includes accelerometers, impact, pressure, tachometers, brake sensors, and gyroscopes. Due to rising consumer awareness of the importance of child and passenger safety in automobiles, the impact sector led the worldwide Automotive Airbag Sensor market in 2022.
The global Automotive Airbag Sensor market segmentation, based on Application, includes cars, motor bikes, airplanes, spacecraft, and military. The automotive industry held the largest global market share in 2022. This is due to an increase in fatalities and injuries from front-end collisions. Government regulations aimed at improving driving safety are also expected to aid market expansion during the projection period.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Automotive Airbag Sensor Market dominated this market in 2022. The region's market is expected to increase over the projected period as a result of rigorous rules and norms, a high prevalence of traffic accidents, and other factors. High levels of vehicle manufacturing and sales, particularly of luxury automobiles, are also projected to have a positive effect on market expansion. Further, In the North American area, the U.S. Automotive Airbag Sensor market had the biggest market share, while the Canada Automotive Airbag Sensor market had the quickest rate of expansion.
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.
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Due to the expanding demand for safety features in vehicles and the growing number of rules on vehicle safety, Europe's Automotive Airbag Sensor market has the second-largest market share. Further, In the European region, the German Automotive Airbag Sensor market had the biggest market share, and the U.K. Automotive Airbag Sensor market had the quickest rate of growth.
The Asia Pacific Automotive Airbag Sensor market is expected to register significant growth from 2023 to 2032. The expanding usage of passive and active safety technology, increased vehicle manufacturing, and growing demand for driver and passenger safety are all significant causes. Moreover, In the Asia-Pacific region, the Indian Automotive Airbag Sensor market had the quickest rate of growth while China's Automotive Airbag Sensor market had the greatest market share.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Automotive Airbag Sensor market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Automotive Airbag Sensor sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Automotive Airbag Sensor industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Automotive Airbag Sensor sector. 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.
Continental AG (Continental), a manufacturer of automobiles, manufactures and markets brake systems, engine and chassis systems, instrumentation, infotainment systems, tires, and technical elastomers. The company also distributes tires and provides tire repair services 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. Continental sells its goods under the Elektrobit, VDO, Uniroyal, Phoenix, Matador, and other names. The business serves clients from Asia, Europe, North America, and other continents. On the continents of North America, Africa, South America, Europe, Asia, and Australia, it has operational facilities. Continental's corporate headquarters are in Hannover, Niedersachsen, Germany. In December 2021, Continental's Bengaluru facility reached an important milestone when it produced one million Airbag Control Units (ACUs).
Mitsubishi Electric Corp. develops, manufactures, and markets electrical and electronic products. Turbine generators, nuclear power plant, and power electronics equipment, as well as motors, transformers, circuit breakers, gas-insulated switchgear, switch control, and display devices, are some of the company's products. It also provides transmission and distribution systems, elevators, escalators, electrical equipment for locomotives and other rolling stock, and security and management systems for buildings. The company provides a range of services, including those in advertising, finance, real estate, and logistics. The information processing and communications, satellite communications, consumer electronics, industrial technology, construction equipment, energy, and transportation sectors are all served by Mitsubishi Electric. The company operates across the Commonwealth of Independent States (CIS), the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Chiyoda-Ku, Tokyo, Japan, is home to Mitsubishi Electric's corporate headquarters. In October 2019, Mitsubishi Electric announced that Gujarat would become the home of a new auto component manufacturing facility.
· Autoliv Inc.
· Continental AG
· Denso Corporation
· Freescale Semiconductor
· Key Safety Systems
· Mitsubishi Electric Co., Ltd.
· Robert Bosch Corporation
· Takata Corporation
· Toyoda Gosei
· TRW Automotive
September 2022: DENSO Corporation has disclosed that it has improved the detecting angle of its vision sensor in order to promote traffic safety. This will improve the sensor's ability to detect pedestrians and bicycles near moving vehicles. The brand-new Subaru Crosstrek*1, which was unveiled on September 15, 2022 for the Japanese market, and some variations of the Subaru Legacy Outback, which was unveiled on April 13, 2022 for the North American market, both make use of the vision sensor.
· Side
· Knee
· Rear
· Front
· Mechanical
· Electrical
· Accelerometer
· Impact
· Pressure
· Tachometers
· Brake Sensors
· Gyroscopes
· Cars
· Motor bikes
· Air planes
· Spacecraft
· Military
· 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
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 3.9 Billion |
|
Market Size 2023 |
USD 3.9 Billion |
|
Market Size 2032 |
USD 6.2 Billion |
|
Compound Annual Growth Rate (CAGR) |
6.46% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Types of Airbags, Mode of Sensors, Types of Sensors, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
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 |
|
Key Market Opportunities |
Improving government regulations |
|
Key Market Dynamics |
Growing automobile industry and the demand for airbag employed in Light Commercial Vehicle (LCV) and trucks |
The global Automotive Airbag Sensor market size was valued at USD 3.9 Billion in 2022.
The global market is projected to grow at a CAGR of 6.46% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are 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
The Front Types of Airbags dominated the market in 2022.
The Electrical Mode of Sensors had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65280
Published on :
Sep 2023
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