Automotive Airbag Market, By Product Type (Front Airbag, Knee Airbag, Side Airbag, Curtain Airbag, and Pedestrian Airbag), By Vehicle type (OEM and Aftermarket), By Sales Channel (Passenger Car and Commercial Vehicle), and By Region (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) - Trends, Analysis, and Forecast till 2030

The market for automobile airbags was valued at US$ 10.5 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 9.0% to reach US$ 24.55 billion by 2030. The automobile airbag market is divided into five regions: Latin America, North America, Europe, Asia Pacific, Middle East and Africa. In 2018, it was anticipated that the automotive airbag market in North America would hold a significant revenue share, with markets in other areas following suit. This is explained by thriving automotive industries in the nation and its environs. Governments' strict implementation of regulations about passenger safety, especially in the United States, is one of the main factors anticipated to promote market expansion in North America during the forecast period. Asia Pacific's automotive airbag market accounted for the second-highest worldwide market share, behind Europe.