
Europe Automotive Airbags and Seatbelts Market
No. of Pages: 130 | Report Code: BMIRE00026985 | Category: Automotive and Transportation
No. of Pages: 130 | Report Code: BMIRE00026985 | Category: Automotive and Transportation
The automotive airbags and seatbelts market in Europe is expected to grow from US$ 14,465.29 million in 2022 to US$ 28,203.11 million by 2028. It is estimated to grow at a CAGR of 11.8% from 2022 to 2028.
Increasing Advancements in Airbag and Seatbelt Technologies
With the rapid expansion of the Europe automotive landscape, manufacturers are primarily focused on enhancing engineering fuel and cost efficiency, improving the driving experience, and working toward the overall safety of passengers and drivers. Airbags and seatbelts remain a key passive safety system in the automotive sector. The growing advancement in airbag and seatbelt technologies is increasing their adoption across passenger vehicles, thereby propelling the market growth. The airbag is best used in combination with wearing a safety belt. It can prevent injuries and fatalities in front-end collisions. Airbag manufacturers have developed an array of airbags, side curtains, and knee bolsters to protect front-seat occupants and are further planning to design a new generation of airbags for rear-seat passengers. For instance, TRW Automotive Holdings Corp. has unveiled two airbags, one mounted on the roof and one in the back of the front seat, which could protect rear-seat passengers during a frontal collision. In addition, the Citroën C4 Cactus is a subcompact crossover SUV, which is equipped with a new roof-mounted passenger airbag technology. The growing advancement in technology for airbags in the automotive industry is fuelling the market growth. For instance, the computer-operated dual deploys, or dual-stage airbags can deploy at two speeds. Airbags deploy at the lower first stage in less severe accidents, usually about 70% of full force. In more severe accidents, both stages are deployed. Further, side airbags are effective in preventing the driver and passengers from head injuries due to the rigid areas of the vehicle in side-impact collisions.
Nylon-based airbags are poised to experience significant demand in the near future. This can be attributed to various benefits of the fabric, including high specific heat capacity, lower density, and better impact resistance. Additionally, airbag manufacturers are focusing on developing nylon-based fabrics coated with organic silicon instead of neoprene, as these coated fabrics have a longer service life, stable performance, high wear resistance, and are lightweight. New developments and innovations are coming up to enhance efficiency and widen the production capabilities of airbags. For instance, in July 2019, ZF Friedrichshafen, a German car parts manufacturer, developed external smart airbags for vehicles that reduce the impact of the crash and decrease damage to the occupants. Moreover, the technological advancements in seatbelts are strengthening the market growth. For instance, in September 2019, Hyundai Mobis announced that it had developed a “Safety Integrated Control Module” that ensures increased efficiency and safety in operating automotive safety devices. This new development combined two separate electronic control units (ECUs) for airbags and electronic seatbelts into a single unit. Thus, such developments in technology for airbags and seatbelts are anticipated to drive the market.
Market Overview
The thriving automotive industry in Europe is supporting the growth of the automotive airbags and seatbelts market. As per OICA 2021 statistics report, the number of motor vehicle produced in Europe was 1,63,30,509; 1,69,42,248; and 2,15,75,118 in 2021, 2020, and 2019, respectively. Also, the total passenger cars produced across the region was 1,38,03,297 in 2021, 1,45,56,548 in 2020, and 1,87,24,208 in 2019, as per the same OICA 2021 statistics report. Germany, France, Spain, the UK, and the Czech Republic are the leading countries in Europe that produced the maximum number of motor vehicles and passenger cars. Further, the national regulatory bodies are taking numerous initiatives to support the development of the automotive industry in the region. For instance, CARS 2020 Action Plan, GEAR 2030, and Horizon 2020 are a few major European government initiatives. The Horizon 2020 Plan focuses on providing funds for research & development (R&D) activities in the automotive industry by launching programs such as the European Green Vehicles Initiative and programs on factories of the future and information and communications technology (ICT) for smart mobility, road transport, and logistics. Therefore, the presence of a robust automotive industry helps boost the demand for automotive airbags and seatbelts due to large-scale motor vehicle production and several European governmental schemes..
Strategic insights for the Europe Automotive Airbags and Seatbelts provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Automotive Airbags and Seatbelts refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.Europe Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Europe Automotive Airbags and Seatbelts Strategic Insights
Europe Automotive Airbags and Seatbelts Report Scope
Report Attribute
Details
Market size in 2022
US$ 14,465.29 Million
Market Size by 2028
US$ 28,203.11 Million
Global CAGR (2022 - 2028)
11.8%
Historical Data
2020-2021
Forecast period
2023-2028
Segments Covered
By Airbags Type
By Seatbelts Type
By Vehicle Class
Regions and Countries Covered
Europe
Market leaders and key company profiles
Europe Automotive Airbags and Seatbelts Regional Insights
Europe Automotive Airbags and Seatbelts Market Segmentation
The Europe automotive airbags and seatbelts market is segmented into airbags type , seatbelts type, vehicle class, and country.
Autoliv Inc. ; Continental AG ; Denso Corporation ; INFINEON TECHNOLOGIES AG ; Robert Bosch GmbH ; ZF Friedrichshafen AG ; Hyundai Mobis ; Joyson Safety Systems and Toyoda Gosei Co., Ltd. are the leading companies operating in the automotive airbags and seatbelts market in the region.
The Europe Automotive Airbags and Seatbelts Market is valued at US$ 14,465.29 Million in 2022, it is projected to reach US$ 28,203.11 Million by 2028.
As per our report Europe Automotive Airbags and Seatbelts Market, the market size is valued at US$ 14,465.29 Million in 2022, projecting it to reach US$ 28,203.11 Million by 2028. This translates to a CAGR of approximately 11.8% during the forecast period.
The Europe Automotive Airbags and Seatbelts Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Airbags and Seatbelts Market report:
The Europe Automotive Airbags and Seatbelts Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Airbags and Seatbelts Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Airbags and Seatbelts Market value chain can benefit from the information contained in a comprehensive market report.