Automotive Airbag Sensor Market to grow by USD 220.4 million from 2022 to 2027; Increasing use of MEMS sensors for airbags to be a major trend - Technavio
NEW YORK, Feb. 6, 2024 /PRNewswire/ -- The automotive airbag sensor market is estimated to grow by USD 220.4 million from 2022 to 2027, growing at a CAGR of 6.36%. The market is witnessing a surge in Micro-Electro-Mechanical Systems (MEMS) sensors, enhancing vehicle safety and performance. MEMS sensors detect minute environmental changes both inside and outside the vehicle, transmitting data to control units (ECUs) for swift responses like skid prevention and airbag deployment. Vendors like Robert Bosch are advancing airbag systems with cutting-edge MEMS sensors, driving market growth projections.
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The global automotive airbag sensor market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer automotive airbag sensors in the market are Analog Devices Inc., Aptiv Plc, Ashimori Industry Co. Ltd., Autoliv Inc., Continental AG, Daicel Corp., DENSO Corp., Dorman Products Inc., HELLA GmbH and Co. KGaA, Hyundai Motor Group, Infineon Technologies AG, Magna International Inc., Mitsubishi Electric Corp., Nihon Plast Co. Ltd., Ningbo Joyson Electronic Corp., NXP Semiconductors NV, Robert Bosch GmbH, TaiHangChangQing Automobile Safety System Co. Ltd., Toyoda Gosei Co. Ltd., and ZF Friedrichshafen AG and others.
- Autoliv Inc. - The company offers airbags, seatbelt products, and components. The key offerings of the company include airbags which include a crash sensor.
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The report extensively covers market segmentation based on application (passenger cars, lCVs, MCVs and HCVs), end-user (OEMs and aftermarket), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
By Application, the passenger cars segment is projected to experience significant market share growth. This is due to the high penetration of frontal airbags and the increasing adoption of side/curtain, knee, and exterior airbags in this segment. However, the growth is contingent upon passenger car production and sales, which were temporarily impacted by COVID-19, leading to reduced demand for automotive airbags despite production resuming in key automotive countries.
By Geography, the market is classified as APAC, Europe, North America, South America, and Middle East and Africa. APAC will have the largest share of the market. The region will contribute 56% to the growth of the global market during the forecast period.
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"Production shift to low-cost countries drives the growth with the consolidation by acquisitions in the automotive airbag and its component market as an emerging trend. However, challenges such as the lack of regulation for airbags in medium and heavy-duty vehicles may hamper the growth."
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What are the key data covered in this Automotive Airbag Sensor Market report?
- CAGR during the forecast period
- Detailed information on factors that will drive the growth of the Automotive Airbag Sensor Market between 2023 and 2027
- Precise estimation of the Automotive Airbag Sensor Market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the Automotive Airbag Sensor industry across APAC, Europe, North America, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of Automotive Airbag Sensor vendors
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Applications
The Automotive Airbag Sensor industry, driven by crash sensor technology and sensor-based safety systems, encompasses various automotive safety features. These include inflatable restraint systems like side-impact airbags, addressing crashworthiness standards, and frontal collision detection. With acceleration sensors and collision detection technology, occupant protection devices play a vital role in meeting vehicle safety regulations and enhancing automotive passive safety measures.
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SOURCE Technavio
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