Market Research Future (MRFR) has published a cooked research report on the “Global Automotive Airbag Sensor Market” that contains information from 2018 to 2032. The Automotive Airbag Sensor market is estimated to register a CAGR of 6.36% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Automotive Airbag Sensor market— Autoliv Inc., Continental AG, Denso Corporation, Freescale Semiconductor, Key Safety Systems, Mitsubishi Electric Co., Ltd., Robert Bosch Corporation, Takata Corporation, Toyoda Gosei, and TRW Automotive.
The global Automotive Airbag Sensor market is accounted to register a CAGR of 6.36% during the forecast period and is estimated to reach USD 6.09 billion by 2032.
The primary factor driving the market for air bag sensors is the demand for airbags used in trucks and light commercial vehicles (LCV). As the number of deadly accidents rises, so does the necessity for airbags in automobiles. For instance, according to the organisation for safe international road travel, 3,287 people die in traffic-related incidents every day. Automobile manufacturers are focusing on integrating safety elements in their models of automobiles in order to increase facilities for people's safety. For instance, the German auto part manufacturer ZF Friedrichshafen AG announced that the European automaker will get knee airbags by 2019.
The global automotive airbag sensor market has been segmented based types, mode of sensors, types of sensors, and application.
On the basis of types, the market is segmented into side, knee, rear, and front. The front segment accounted for the largest market share in 2022, and it is projected that it would keep that position throughout the forecast period. The high frontal airbag penetration rate in passenger cars explains this.
Based on mode of sensors, the global automotive airbag sensor market has been segmented into mechanical and electrical. In 2022, the electrical category held the largest market share as a result of technological advancements in the types of sensors used in new generation cars.
Based on types of sensors, the global automotive airbag sensor market has been segmented into accelerometer, impact, pressure, tachometers, brake sensors, and gyroscopes. The impact category dominated the global Automotive Airbag Sensor market in 2022 as a result of growing consumer awareness of the value of child and passenger safety in automobiles.
Based on application, the global automotive airbag sensor market has been segmented into cars, motor bikes, air planes, spacecraft, and military. The cars category held the largest global market share in 2022. This is due to an increase in fatalities and injuries from front-end collisions. Government regulations aimed at improving driving safety are also expected to aid market expansion during the projection period.
The global Automotive Airbag Sensor market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Automotive Airbag Sensor market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Automotive Airbag Sensor market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Automotive Airbag Sensor market comprises of Middle East, Africa, and Latin America.
The largest market share for Automotive Airbag Sensor was maintained by the North American regional sector. The region's market is expected to increase over the projected period as a result of rigorous rules and norms, a high prevalence of traffic accidents, and other factors.
Moreover, the Europe market has been persistently growing over the forecast period. This is owing to the growing number of rules on vehicle safety and the soaring demand for safety features in automobiles.
Additionally, the Asia Pacific market is anticipated to grow at fastest CAGR. The expanding usage of passive and active safety technology, increased vehicle manufacturing, and growing demand for driver and passenger safety are all significant causes.
Furthermore, the rest of the world's Automotive Airbag Sensor market is divided into the Middle East, Africa, and Latin America. The LAMEA (Latin America, Middle East and Africa) automotive airbag sensor market is a growing market with significant potential for expansion in the coming years. The automotive industry in these regions is witnessing steady growth, driven by factors such as increasing disposable incomes, rising urbanization, and government initiatives to promote local manufacturing.
Key Findings of the Study