$4550
The automotive passive safety system market share is expected to grow from US$ 19,595.24 million in 2021 to US$ 25,932.05 million by 2028. The automotive passive safety system market is estimated to grow at a CAGR of 4.5% from 2021 to 2028.
With the rapid expansion of the global automotive landscape, manufacturers primarily focus on enhancing engineering fuel and cost efficiency, improving the driving experience, and working toward the overall safety of passengers and drivers. Airbags and seatbelts remain key passive safety systems in the automotive sector. The growing advancement in airbag and seatbelt technologies is increasing their adoption across passenger vehicles, propelling the automotive passive safety system market growth. The airbag is best used in combination with wearing a safety belt. It can prevent injuries and fatalities in front-end collisions. Airbag manufacturers have developed an array of airbags, side curtains, and knee bolsters to protect front-seat occupants, and they are further planning to design a new generation of airbags for rear-seat passengers.
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Automotive Passive Safety System Market: Strategic Insights
Market Size Value in US$ 19,595.24 Million in 2021 Market Size Value by US$ 25,932.05 Million by 2028 Growth rate CAGR of 4.5% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Automotive Passive Safety System Market: Strategic Insights
| Market Size Value in | US$ 19,595.24 Million in 2021 |
| Market Size Value by | US$ 25,932.05 Million by 2028 |
| Growth rate | CAGR of 4.5% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Some technological advancements in automotive passive safety system market are mentioned below:
Life-Cell Airbags: Autoliv has introduced Life-Cell airbags. This provides protection regardless of the occupant's position. When activated in conjunction with the deployment of the steering wheel airbag, the Life-Cell airbag acts like a protective cocoon.
Mixed Active and Passive Systems: Joyson Safety Systems is currently working on developing an intelligent airbag with an integrated restraint system that is a mix of active and passive safety based on HMI. New advances in electrically powered safety belts and multi-chamber airbags are expected soon. These seat belts are custom designed to improve crash rating requirements. OEMs aiming for good star ratings will install such systems shortly.
External Pre-Crash Airbags: ZF has introduced external pre-crash airbags that deploy outward from the sides of the vehicle. These airbags act as additional crumple zones in the event of an accident. Tests have shown it can help reduce the severity of occupant injuries by up to 40%. Self-driving cars will continue to improve the travel experience. ZF develops restraint systems, such as seat belts and airbags, to protect occupants in flexible seating positions. ZF has designed the airbags to adapt to the position of the occupants and new degrees of freedom in the passenger compartment.
The automotive passive safety system market size has been analyzed on the basis of the following segments: type, vehicle type, and geography. Based on type, the automotive passive safety system market can be categorized into airbags, seatbelts, occupant sensing systems, child safety systems, and others. The airbags segment is expected to dominate the automotive passive safety system market during the forecast period. By vehicle type, the market is segmented into passenger cars and commercial vehicles. The passenger cars segment is expected to dominate the automotive passive safety system market during the forecast period. In terms of geography, the market is divided into 5 regions—North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Asia Pacific dominated the overall market in 2021, and Europe held the second-largest automotive passive safety system market share.
Impact of COVID-19 Pandemic on Automotive Passive Safety System Market
Exports of airbags, seatbelts, pedestrian safety systems, and other automotive components in Europe dramatically decreased during the COVID-19 pandemic in April and May 2020. Negative impacts on the automotive sector were more severe, due to which OEMs announced further delays in re-opening closed assembly plants, and vehicle sales plummeted in the region. Europe is home to many top automakers, such as Mercedes, Volkswagen, Skoda, BMW, and Audi. The pandemic indirectly impacted over 1.1 million jobs due to the shutdowns of auto factories between March and May 2020. Subsequent lockdowns had a more limited impact on production, but in 2021 the auto sector was challenged by the rising global demand for semiconductors due to a boom in the production of electronics parts and disruptions in the supply chains.
The auto sector also constitutes one of the main supply chains in Europe. Foreign demand is important for the European auto sector, including demand in major economies outside the region, such as the US and China. In the automotive industry, the immediate drop in demand for vehicles, coupled with the disruptions in the supply of raw materials caused by the limitations in cross-border movements over Q1 2020, caused supply delays of automotive components, such as airbags, seatbelts, and others. In 2020, vehicle production in Europe dropped by more than one-fifth: 4.5 million fewer cars were produced relative to 2019, according to an IMF report.
Lucrative Regions for Automotive Passive Safety System Market
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Market Insights– Automotive Passive Safety System Market
Rising Automobile Production
Urbanization trends are accelerating, increasing the average disposable income of urban dwellers and enabling people to improve their lifestyles. The demand for passenger cars continues to increase due to changing lifestyles. Automakers are ramping up production to meet customer demand. Vehicle production, including passenger cars and commercial vehicles, has increased steadily in both developed and developing countries during the recession since 2010. Declining loan interest rates are also fueling growth in the auto industry, which is further bolstering the global automotive passive safety system market growth.
In recent years, consumer behavior toward inter- and intra-city transportation has increased. Automobile production is increasing exponentially due to the increase in personal disposable income and the stable economic structure of each country. In 2021, China, India, Germany, Japan, the US, and South Korea produced many automotive vehicles, including passenger and commercial vehicles. The rise in global demand for automobiles and increased automobile production has created a need for automotive brake discs. The increase in the demand for disc brake systems that improve the safety and driving experience is fueling the automotive passive safety system market.
Type-based Insights
Based on type, the automotive passive safety system market can be categorized into airbags, seatbelts, occupant sensing systems, child safety systems, and others. The airbags segment is expected to dominate the automotive passive safety system market during the forecast period. People are becoming aware of how important seatbelts are for protecting the spine in crashes. Studies show that not wearing a seat belt increases the likelihood of becoming a projectile, making its installation crucial.
Vehicle Type-based Insights
The automotive passive safety system market, by vehicle type, is segmented into passenger cars and commercial vehicles. The passenger cars segment is expected to dominate the automotive passive safety system market size during the forecast period. Additionally, several regions of the world have seen a recovery in the manufacture of commercial vehicles, according to the automotive industry. The growth of the vehicle type segment can be attributed to the rise in regulations requiring installing and using seatbelts in both commercial and passenger vehicles.
Players operating in the automotive passive safety system market mainly focus on developing advanced and efficient products.
- In January 2022, Autoliv announced its collaboration with Nuro, an autonomous vehicle company, to provide higher safety features with exterior airbags to Nuro's latest third-generation vehicle.
- In February 2021, Autoliv was collaborating with SSAB, a global steel company, to replace coking coal with fossil-free steel from SSAB for airbags and seatbelts production.
List of Companies operating in the automotive passive safety system market include Autoliv Inc; Continental AG; Joyson Safety Systems; Robert Bosch GmbH; ZF Friedrichshafen AG; FAURECIA; Hyundai Mobis; Knauf Industries; Toyoda Gosei Co., Ltd; and Tokairika Co., Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Vehicle Type
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Autoliv Inc; Continental AG; Joyson Safety Systems; Robert Bosch GmbH; and ZF Friedrichshafen AG are the leading companies in the Automotive Passive Safety System market.
Technological Advancements in Passive Safety Systems.
The Asia Pacific region, on the other hand, is expected to develop at the quickest rate throughout the projection period.
Asia Pacific dominated the Automotive Passive Safety System Market in 2021.
Growing initiatives to introduce regulatory standards concerning vehicle safety.
Rising Automobile Production
Growing Adoption of Electric Vehicles.
The List of Companies - Automotive Passive Safety System Market
- Autoliv Inc;
- Continental AG
- Joyson Safety Systems
- Robert Bosch GmbH
- ZF Friedrichshafen AG
- FAURECIA
- Hyundai Mobis
- Knauf Industries
- Toyoda Gosei Co., Ltd
- Tokairika Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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