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

An increase in accidents

Growing concerns about safety and increased traffic accidents are two main factors driving the worldwide automotive airbag market's expansion. The World Health Organization said in 2018 that there are approximately 1.3 million traffic accidents annually. As a result, governments worldwide enforce stringent laws and guidelines to promote safety, lower the number of fatalities and injuries from accidents, and mandate that airbags be installed in cars. Another factor driving the global market's growth is the availability of pre-fitted airbag safety systems in certain luxury and premium automobiles.

However, a few issues are anticipated to limit the growth of the automotive airbag market, including the fact that airbags only inflate once and then lose their ability to protect passengers from further impact and that they are rather expensive. The growing demand for electric vehicles and pedestrian protection airbags has created a profitable opportunity for the players in the automotive airbag market.