The Brazil airbag system market size projected to expand at a CAGR of 6% during the forecast period, 2021-2028. The growth of the market is attributed to regulations aimed at consumer safety and security, which have compelled automakers to install safety products in their vehicles.
In the case of an accident, passive safety systems are responsible for ensuring that passengers are protected to the maximum extent possible. Nowadays, a wide range of airbags are available, and have become a standard feature in all vehicle classes. In the mid-1970s and early 1980s, the first airbag systems were fitted in top-of-the-line vehicles. The front passenger airbag was introduced at the end of the 1980s, followed by head airbag and side airbag. The crash or acceleration sensors are put either directly in the control unit or as satellites in the front-end or at the side of the vehicle, depending on the airbag system and the number of airbags fitted. The front sensors are always supplied in pairs. The spring-mass mechanism is commonly used in these sensors.
The sensor in this system has a weighted roller that is filled with standardized weights. The ends of a bronze spring hinge are attached to the weighted roller and the sensor housing, and it is coiled around the weighted roller. The steering wheel airbag consists of a 67-liter airbag, an airbag holder, a generator mounted on the generator support, and an airbag cover. The generator is started by the control unit in the event of an accident. A trigger current heats a tiny wire that shoots the firing pellet during the procedure. According to Brazil's National Association of Motor Vehicle Manufacturers, total vehicle production increased by 2.3 percent year on year in 2019 to nearly 2.95 million, up from 2.88 million in 2018.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing vehicle production is a major factor contributing to the country's market growth.
- Rising car accidents is expected to proliferate the market growth in the projected timeline.
- Increasing government initiatives and government support to encourage auto makers to deploy airbags in all vehicle types is driving the growth of the market.
- The COVID-19 pandemic had hampered the supply chain activities across the globe, disrupting the growth of the market.
- Ongoing technological advancements is expected to spur the market growth.
Scope of the Report
The Brazil airbag system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Brazil Airbag System Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Curtain, Front, Knee, Sire and Others), Applications (Passenger Vehicles, Commercial Vehicles, Buses, and Trucks), and End Consumers (OEMs and After-market)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Hyundai?Mobis, ZF Friedrichshafen, Autoliv, DENSO Corporation, Toshiba Corporation, Key Safety Systems, and Continental AG
Brazil Airbag System Market Segment Insights:
Curtain segment is expected to account a major market share
Based on types, the market is segregated into curtain, front, knee, sire and others. The front segment is anticipated to hold a key market share during the forecast period. Curtain airbag system is commonly positioned on the roof above the side window, on the side of the seat or the door. Curtain airbags protect the adult's head in the event of a collision. Curtain airbags have been shown to minimize the probability of a driving fatality by 45%. The knee segment is expected to grow at a steady rate in the projected timeline. This type of airbag is located in the lower part of the dashboard, beneath the steering wheel. Knee airbag system is employed to distribute impact forces to reduce leg injuries, as well as to limit lower body movement to lessen impact on an occupant's chest and abdomen.
Passenger vehicles segment is anticipated to expand at a robust CAGR
On the basis of applications, the Brazil airbag system market is segregated passenger vehicles, commercial vehicles, buses, and trucks. The passenger vehicle segment to account for a majority of the automotive airbag market. Passenger vehicles, such as economy cars, compact cars, minivans, SUVs, and premium and luxury cars, are typically in high demand in this segment. Increasing spending power and growing public awareness of the importance of using vehicle safety systems are driving the segment growth. The commercial vehicle segment is expected to grow significantly as government state bodies around the world are implementing stringent regulations.
OEMs segment to dominate the market
In terms of end consumers, the market is bifurcated into OEMs and after-market. The OEMs segment is expected to dominate the market owing to increasing production of vehicles due to the relaxation in the restriction on the manufacturing facilities across the globe.
- Passenger Vehicles
- Commercial Vehicles
- BRK Brands
- Hochiki America
- Honeywell International
- Apollo Fire Detectors
- Emerson Electric
The major players in the Brazil airbag system market include Hyundai Mobis, ZF Friedrichshafen, Autoliv, DENSO Corporation, Toshiba Corporation, Key Safety Systems, and Continental AG.
Companies are engaging in mergers, acquisitions, and partnerships to expand their market share. Moreover, they’re investing in R&D activities to leverage their market position.