Germany Airbag Systems Market Outlook 2031
The Germany airbag systems market size was USD 1.80 Billion in 2022 and is projected to reach USD 2.94 Billion by 2031 expand at a considerable CAGR 5.6% during the forecast period, 2023–2031. The growth of the market is attributed to the high contribution of the automobile industry to the national economic GDP and presence of several large original equipment manufacturers such as Audi, Volkswagen and BMW in the region.
An airbag is a vehicle occupant restraint system that uses an airbag that expands faster during a collision and then ruptures quickly. In the event of an accident, the collision sensor inside the vehicle provides information to the airbag electronics unit (ECU), including the type of collision.
The collision algorithm of the airbag ECU uses this information to determine whether the collision event meets all triggering criteria. And activate multiple ignition circuit to deploy one or more airbag modules in the vehicle.
Germany Airbag Systems Market Trends, Drivers, Restraints, and Opportunities
- Growing awareness among drivers for vehicle safety features and rising disposable income demands for high-end safety features is expected to boost the market during the forecast period.
- Rapid growth of the automotive industry owing to increasing sales of passenger vehicles and demand for safety features is major factors fuelling the market.
- Strict government regulations for vehicle safety are anticipated to drive the market during the forecast period.
- High costs of installation and maintenance of airbag systems are expected to hinder the market growth.
- Injury risk and product reliability concerns act as major challenges that can restrict the market in the coming years.
- R&D investment and technological advancement in airbags systems for preventing major injuries to driver and passengers and development of advanced crash sensors is projected to offer lucrative opportunities for the market players.
Scope of the Germany Airbag Systems Market Report
The report on the Germany airbag systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Airbag Systems Market - Germany Industry Analysis, Growth, Share, Size, Trends, and Forecast
Component Types (Airbag Module, Monitoring Unit, Crash Sensors, and Others), Vehicle Types (Passenger Cars and Commercial Vehicles), and Coating Types (Neoprene-coated, Silicon-coated, Non-coated, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Hyundai Mobis; Denso Corporation; Autoliv Inc.; Robert Bosch GmbH; and Continental AG
Germany Airbag Systems Market Segment Insights
The airbag module segment is projected to represent a major market share
Based on component types, the Germany airbag systems market is divided into airbag module, monitoring unit, crash sensors, and others. The airbag module segment is expected to represent a key share of the market during the forecast period owing to the main function of airbag module is receiving information from the collision sensor, which is transmitted to airbag sensor to deploy the airbag.
The airbag module is a computer that stores information in order to store crash data in the airbag module in the event of a collision. Many domestic manufacturers have invested heavily in the research and development of airbag modules in order to shorten the response time of the airbag system and improve the safety of the occupants in the car.
The passenger cars segment is expected to grow at a significant pace
In terms of vehicle types, the market is bifurcated into passenger cars and commercial vehicles. The passenger cars segment is expected to hold a key share of the market during the forecast period owing to the European Union changed its emission standards from January 2020 and introduced more stringent carbon dioxide emissions limits, automakers increased their car sales in the country and offered attractive vehicles to buyers of classic cars.
The entire German new car market grew by 5.1%. The country has long imposed strict safety regulations on automobiles with the car's high standards and safety ratings. The test requirements for the maximum score have been constantly changing in recent years. Automakers must meet important new requirements in many areas to receive the highest rating (5 stars).
The silicon-coated segment is anticipated to expand at a rapid CAGR
On the basis of coating types, the Germany airbag systems market is divided into neoprene-coated, silicon-coated, non-coated, and others. The silicon-coated segment is expected to account for a key share of the market during the forecast period owing to rising demand for silicone-coated airbag systems. It also has a high level of heat resistance and pressure resistance, thereby protecting the airbag from various types of damage.
The Germany airbag systems market has been segmented on the basis of
- Airbag Module
- Crash Sensors
- Monitoring Unit
- Passenger Cars
- Commercial Vehicles
Key players competing in the Germany airbag systems market include Hyundai Mobis; Denso Corporation; Autoliv Inc.; Robert Bosch GmbH; and Continental AG
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.