The airbags are inflatable cushions built into a vehicle that protect occupants from hitting the vehicle interior or objects outside the vehicle. The seatbelt is a vehicle safety device designed to secure the vehicle’s driver or passenger against harmful movement during a collision or a sudden stop. The growing demand for customized curtain airbags, rising usage of airbags safety systems in all types of vehicles, and increasing awareness for the safety of the driver and passengers are the prominent factors driving the market for automotive airbags and seatbelts. Rising demand for customized airbags within the SUVs and Sedan cars across countries such as the US, Germany, and Japan will provide lucrative opportunities for the market players. As per the International Organization of Motor Vehicle Manufacturers, an increase of 2.74 million units of all types of automotive vehicles was witnessed from 2020 to 2021. Moreover, industry leaders and automotive manufacturers are forming alliances and adopting strategic initiatives to incorporate advanced technologies in airbag systems and seatbelts in the new product launches to expand their portfolio, necessitating consumer demand. Thus, such factors are supporting the automotive airbags and seatbelts market over the forecast period.
Autoliv; ZF Friedrichshafen AG; TOYODA GOSEI Co., Ltd.; Joyson Safety Systems; and Continental AG – Prominent Market Participants in Automotive Airbags and Seatbelts Market
Autoliv; ZF Friedrichshafen AG; TOYODA GOSEI Co., Ltd.; Joyson Safety Systems; and Continental AG are the five key market players operating in the global automotive airbags and seatbelts market. The automotive airbags and seatbelts market is highly fragmented and competitive due to occurrence of huge number of small scale and medium scale manufacturers in both developed and developing economies. The top 5 market players are majorly focusing on various organic and inorganic growth strategies to survive in the automotive airbags and seatbelts market. Such as, innovation of new technologies to offer enhanced product portfolios to the customers, merger and acquisitions, and expansion strategies.
Most of the market initiatives were observed in the Europe region, which have a high potential of automotive airbags and seatbelts providers. Few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Region |
| 2022 | Autoliv had announced its collaboration with Nuro, autonomous vehicle company for providing higher safety features with exterior airbag to Nuro’s latest third-generation vehicle. | Europe |
| 2021 | Autoliv had entered into collaboration with SSAB, global steel company in order to replace coking coal with fossil free steel from SSAB for airbags and seatbelts. | Europe |
