Market Size of China Airbag Systems Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Airbag Systems Market Analysis
The China Airbag Systems Market was valued at USD 12.58 Billion in 2021 and is projected to grow to 19.41 Billion by 2027, registering a CAGR of 7.5% in terms of revenue during the forecast period.
The COVID-19 pandemic had a massive impact on the market studied as lockdowns and trade restrictions have led to supply chain disruptions and a halt of vehicle production across the country. However, as restrictions eased, players started focusing on mitigating such risks and developments to create momentum in the market during the forecast period. By 2021, as vehicle sales rebound and governing bodies focus on implementing stringent safety standards, the automotive airbag system market is anticipated to witness significant growth during the forecast period.
Over the medium term, Increasing regulatory requirements regarding vehicle safety and rising awareness about customer safety are driving the China automotive airbag market. Furthermore, the increase in the penetration of side-impact and curtain airbags, and vehicle production, the introduction of more bags per car, are the major factors that drive the growth of the China automotive airbag inflator market.
There are very strict norms for passenger car safety in China for a very long time, also car buyers are aware and concerned about road safety, so they prefer cars that are high on safety norms and ratings. China is also the leading manufacturer in vehicle sales, which is expected to go up in sales in 2025. With government regulations in place and customer demand for vehicle safety, the Brazilian airbag system market is expected to grow.
China Airbag Systems Industry Segmentation
An airbag is an inflatable safety device designed to protect the occupants of a car in case of a collision. The airbag is made from a highly durable polyamide fabric. It has a low coefficient of friction to ensure it expands smoothly and contacts the driver without any harm.
China's Airbag systems market is segmented into Airbag type, Inflator type, and vehicle type.
Based on the Airbag type, the market is segmented into Driver airbags, Passenger airbags, Curtain airbags, Knee airbags, and Others.
Based on the Inflator type, the market is segmented into Pyrotechnic, Stored Gas, and Hybrid.
Based on the vehicle type, the market is segmented into Passenger Cars and Commercial Vehicles.
For each segment, the market sizing and forecast have been done on the basis of value (USD Billion).
| Airbag Type | |
| Driver airbag | |
| Passenger airbag | |
| Curtain airbag | |
| Knee airbag | |
| Others |
| Inflator Type | |
| Pyrotechnic | |
| Stored Gas | |
| Hybrid |
| Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
China Airbag Systems Market Size Summary
The China airbag systems market is poised for significant growth, driven by increasing regulatory requirements and heightened consumer awareness regarding vehicle safety. The market is experiencing a resurgence as vehicle sales rebound and stringent safety standards are implemented. The demand for advanced airbag systems, including side-impact and curtain airbags, is on the rise, fueled by the growing production of vehicles and the introduction of more airbags per car. The Chinese government's focus on enhancing road safety and the country's position as a leading vehicle manufacturer further bolster the market's expansion prospects. Despite challenges posed by the COVID-19 pandemic, such as supply chain disruptions and temporary declines in vehicle demand, the market is expected to recover and thrive as economic activities resume and consumer confidence improves.
The airbag systems market in China is characterized by robust competition among international and regional players, with companies like Robert Bosch GmbH, ZF Friedrichshafen AG, and Autoliv Inc. leading the charge. These manufacturers are actively expanding their production capabilities and investing in research and development to enhance airbag technology and reduce response times. The market is also witnessing strategic partnerships and joint ventures aimed at launching innovative products. The increasing penetration of airbags in vehicles, supported by government initiatives and tax incentives to boost car sales, is anticipated to drive the market's growth. As the Chinese economy continues to grow and disposable incomes rise, the demand for vehicles equipped with advanced airbag systems is expected to increase, further propelling the market forward.
China Airbag Systems Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Billion)
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2.1 Airbag Type
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2.1.1 Driver airbag
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2.1.2 Passenger airbag
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2.1.3 Curtain airbag
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2.1.4 Knee airbag
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2.1.5 Others
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2.2 Inflator Type
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2.2.1 Pyrotechnic
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2.2.2 Stored Gas
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2.2.3 Hybrid
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2.3 Vehicle Type
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2.3.1 Passenger Cars
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2.3.2 Commercial Vehicles
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China Airbag Systems Market Size FAQs
What is the current China Airbag Systems Market size?
The China Airbag Systems Market is projected to register a CAGR of 7.5% during the forecast period (2024-2029)
Who are the key players in China Airbag Systems Market?
Autoliv Inc. , ZF Friedrichshafen AG, Joyson Safety Systems, TOYODA GOSEI Co., Ltd. and Denso Corporation are the major companies operating in the China Airbag Systems Market.
