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Asia Pacific Automotive Airbags and Seatbelts Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Airbags Type (Front, Knee, Side and Curtain), Seatbelts Type (2-point and 3-point), and Vehicle Class (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles)
Market Report I 2022-11-08 I 82 Pages I The Insight Partners
The automotive airbags and seatbelts market in Asia Pacific is expected to grow from US$ 26,724.86 million in 2022 to US$ 56,182.40 million by 2028. It is estimated to grow at a CAGR of 13.2% from 2022 to 2028.
Growing Awareness About Vehicle Safety Features
The growing awareness among consumers about vehicle safety features, along with the rising willingness to pay an extra cost for featured airbags and seatbelts, is a potential opportunity for market growth in coming years. The rise in demand for airbags from leading automotive makers and stringent mandatory regulations for deploying airbags are propelling the market growth. For instance, in January 2022, the Indian government released a draft proposal mandating six airbags in all passenger cars manufactured from October 2022. In January 2018, South Korea announced the requirement for new cars to be fitted with front and rear seat belt reminder systems. An initiative called Bharat New Vehicle Safety Assessment Program (BNVSAP) is a voluntary star rating system in India based on crash safety performance features. Equipment such as front airbags, anti-lock braking system (ABS), and seat belt reminders are necessary in cars to clear these tests. Thus, such growing initiatives to achieve the certification to enable greater safety are anticipated to drive the demand for automotive airbags and seatbelts. The New Car Assessment Program for Southeast Asian Countries (ASEAN NCAP) has brought multiple changes and adaptations regarding the region's socio-economic development, with more focus on road safety aspects. Thus, the growing awareness about safety features in automotive vehicles is posing a potential opportunity for market growth.
Market Overview
One of the driving factors for the automotive airbags and seatbelts market in APAC is the rising trend of electric vehicles (EVs). Due to the growing EV industry, the use of airbags and seatbelts is also rising, which is significantly increasing the demand for automotive airbags and seatbelts. The interest in EVs has increased over the past few years. As per the Association of Southeast Asian Nations (ASEAN) Automotive Federation Report, the total number of vehicle sales in ASEAN member states accounted for 2.45 million in 2020. This number is expected to increase with population growth and economic development. EV uptake is also likely to be fuelled by growing pollution concerns and the need to switch to cleaner and environment-friendly modes of transport. ASEAN has developed a favourable policy for the environment to encourage EV adoption. Further, according to a report by the International Renewable Energy Agency, by 2025, ~20% of all vehicles on the road in Southeast Asia will be of the electric variety, including 59 million two- and three-wheelers and 8.9 million four-wheel cars. Moreover, several ASEAN countries have started taking steps to increase EV adoption. For instance, in July 2020, the Brunei Darussalam National Council on Climate Change launched the Brunei Darussalam National Climate Change Policy (BNCCP), Brunei's first climate change policy. To pave Brunei Darussalam's low carbon and climate-resilient pathway for a sustainable nation, the BNCCP focuses on ten core areas, with EV adoption being one of them. Furthermore, the country aims to increase the share of EVs in total vehicle sales to 60% in the coming years. Therefore, the growing trend of EV adoption in APAC is supporting the automotive airbags and seatbelts market growth.
Asia Pacific Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific Automotive Airbags and Seatbelts Market Segmentation
The Asia Pacific automotive airbags and seatbelts market is segmented into airbags type , seatbelts type, vehicle class, and country.
Based on airbag type ,the market is segmented into front, knee, side and curtain. The front segment registered the largest market share in 2022. Based on seatbelts type , the market is segmented into 2-point and 3-point. The 3- point segment held the largest market share in 2022. Based on vehicle class , the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held the largest market share in 2022. Based on country, the market is segmented into Australia , China ,India ,Japan ,South Korea and Rest of Asia Pacific. China dominated the market share in 2022. Autoliv Inc. ; Continental AG ; Denso Corporation ; INFINEON TECHNOLOGIES AG ; Robert Bosch GmbH ; ZF Friedrichshafen AG ; Hyundai Mobis ; Joyson Safety Systems and Toyoda Gosei Co., Ltd. are the leading companies operating in the automotive airbags and seatbelts market in the region.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Automotive Airbags and Seatbelts Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Asia Pacific
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific Automotive Airbags and Seatbelts Market - Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growing Initiatives for Introducing Regulatory Standards Related to Vehicle Safety
5.1.2 Increasing Advancements in Airbag and Seatbelt Technologies
5.2 Market Restraints
5.2.1 High Operating and Maintenance Costs
5.3 Market Opportunities
5.3.1 Growing Awareness About Vehicle Safety Features
5.4 Future Trends
5.4.1 Growing Adoption of Electric Vehicles
5.5 Impact Analysis of Drivers and Restraints
6. Automotive Airbags and Seatbelts Market -Market Analysis
6.1 Asia Pacific Automotive Airbags and Seatbelts Market Overview
6.2 Asia Pacific Automotive Airbags and Seatbelts Market Forecast and Analysis
7. Asia Pacific Automotive Airbags and Seatbelts Market Analysis - By Airbags Type
7.1 Overview
7.2 Asia Pacific Automotive Airbags and Seatbelts Market, By Airbags Type (2021 And 2028)
7.3 Front
7.3.1 Overview
7.3.2 Asia Pacific Front: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
7.4 Knee
7.4.1 Overview
7.4.2 Asia Pacific Knee: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
7.5 Side and Curtain
7.5.1 Overview
7.5.2 Asia Pacific Side and Curtain: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
8. Asia Pacific Automotive Airbags and Seatbelts Market Analysis - By Seatbelts Type
8.1 Overview
8.2 Asia Pacific Automotive Airbags and Seatbelts Market, By Seatbelts Type (2021 And 2028)
8.3 2-point
8.3.1 Overview
8.3.2 Asia Pacific 2-point: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
8.4 3-point
8.4.1 Overview
8.4.2 Asia Pacific 3-point: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
9. Asia Pacific Automotive Airbags and Seatbelts Market Analysis - By Vehicle Class
9.1 Overview
9.2 Asia Pacific Automotive Airbags and Seatbelts Market, By Vehicle Class (2021 and 2028)
9.3 Passenger Cars
9.3.1 Overview
9.3.2 Asia Pacific Passenger Cars: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
9.4 Light Commercial Vehicles
9.4.1 Overview
9.4.2 Asia Pacific Light Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
9.5 Heavy Commercial Vehicles
9.5.1 Overview
9.5.2 Asia Pacific Heavy Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)
10. Asia Pacific Automotive Airbags and Seatbelts Market - Country Analysis
10.1 APAC: Automotive Airbags and Seatbelts Market
10.1.1 Overview
10.1.2 APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3 APAC Automotive Airbags and Seatbelts Market Breakdown, by Country
10.1.3.1 Australia Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.1.1 Australia Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.1.2 Australia Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.1.3 Australia Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
10.1.3.2 China Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.2.1 China Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.2.2 China Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.2.3 China Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
10.1.3.3 India Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.3.1 India Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.3.2 India Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.3.3 India Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
10.1.3.4 Japan Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.4.1 Japan Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.4.2 Japan Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.4.3 Japan Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
10.1.3.5 South Korea Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.5.1 South Korea Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.5.2 South Korea Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.5.3 South Korea Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
10.1.3.6 Rest of APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)
10.1.3.6.1 Rest of APAC Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type
10.1.3.6.2 Rest of APAC Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type
10.1.3.6.3 Rest of APAC Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class
11. Industry Landscape
11.1 Market Initiative
11.2 New Development
12. Company Profiles
12.1 Autoliv Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Continental AG
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Denso Corporation
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 INFINEON TECHNOLOGIES AG
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Robert Bosch GmbH
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 ZF Friedrichshafen AG
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Hyundai Mobis
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Joyson Safety Systems
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Toyoda Gosei Co., Ltd.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Ashimori Industry Co., Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Asia Pacific Automotive Airbags and Seatbelts Market - Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 - By Airbags Type (US$ million)
Table 3. APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 - By Seatbelts Type (US$ million)
Table 4. APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 - By Vehicle Class (US$ million)
Table 5. APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 - By Country (US$ million)
Table 6. Australia Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 7. Australia Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 8. Australia Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 9. China Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 10. China Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 11. China Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 12. India Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 13. India Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 14. India Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 15. Japan Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 16. Japan Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 17. Japan Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 18. South Korea Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 19. South Korea Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 20. South Korea Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 21. Rest of APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Airbags Type (US$ million)
Table 22. Rest of APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Seatbelts Type (US$ million)
Table 23. Rest of APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 - By Vehicle Class (US$ million)
Table 24. List of Abbreviation
LIST OF FIGURES
Figure 1. Asia Pacific Automotive Airbags and Seatbelts Market Segmentation
Figure 2. Asia Pacific Automotive Airbags and Seatbelts Market Segmentation - By Country
Figure 3. Asia Pacific Automotive Airbags and Seatbelts Market Overview
Figure 4. Front Segment held the Largest Share of Automotive Airbags and Seatbelts Market
Figure 5. India to Show Great Traction During Forecast Period
Figure 6. Asia Pacific- PEST Analysis
Figure 7. Ecosystem Analysis: Automotive Airbags and Seatbelts Market
Figure 8. Expert Opinion
Figure 9. Asia Pacific Automotive Airbags and Seatbelts Market: Impact Analysis of Drivers and Restraints
Figure 10. Asia Pacific Automotive Airbags and Seatbelts Market Forecast and Analysis (US$ Million)
Figure 11. APAC Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type, 2021 & 2028 (%)
Figure 12. Asia Pacific Front: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Asia Pacific Knee: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Asia Pacific Side and Curtain: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. APAC Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type, 2021 & 2028 (%)
Figure 16. Asia Pacific 2-point: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Asia Pacific 3-point: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. APAC Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class, 2021 & 2028 (%)
Figure 19. Asia Pacific Passenger Cars: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Asia Pacific Light Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Asia Pacific Heavy Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 23. APAC Automotive Airbags and Seatbelts Market Breakdown, by Country, 2021 & 2028 (%)
Figure 24. Australia Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 25. China Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 26. India Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 27. Japan Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 28. South Korea Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
Figure 29. Rest of APAC Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 (US$ million)
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