Market Share of Automotive Airbags Industry
The automotive airbags market is highly consolidated and competitive. A few players capture most of the market share. Some of the major players include ZF Friedrichshafen AG, Autoliv Inc., Toyoda Gosei Co. Ltd, Joyson Safety Systems, Hyundai Mobis Co. Ltd, Continental AG, Sumitomo Corporation, and Ashimori Industry Co. Ltd, among others. These players are investing hefty sums in research and development to constantly manufacture innovative airbag solutions that can enhance the safety of drivers. For instance,
- In July 2023, ZF Group finalized a deal with the Wuhan Economic Development Zone (WEDZ) located in Hubei province, central China, to invest in a new facility focused on producing and developing automotive airbags. The establishment will be known as ZF Wuhan Automotive Safety Systems (Wuhan) Co. Ltd. Once operational, this center is projected to achieve a maximum yearly production value of approximately CNY 3 billion (USD 4,200 million)
- In June 2023, Autoliv unveiled its new airbag technology based on the Bernoulli Principle, which states that, as the speed of a fluid increases, the static pressure decreases, which assists in significantly incorporating surrounding air into the airbag's inflation process. The pioneering 'Bernoulli airbag' was showcased at Autoliv's Investor Day in Auburn Hills, Michigan, United States.
The market is anticipated to witness rapid enhancement in automotive airbag modules as competitors strategize to gain a competitive edge. Major players seek to form long-term partnerships with automakers to boost their profitability prospects.
Automotive Airbags Market Leaders
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ZF Friedrichshafen AG
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Autoliv Inc.
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Toyoda Gosei Co. Ltd
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Joyson Safety Systems
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Hyundai Mobis Co. Ltd
*Disclaimer: Major Players sorted in no particular order
