Increasing concerns over improving the measures for automobile safety has propelled the need for advanced airbag electronics. OEMs are upgrading the electronic control units used to regulate the deployment of airbags in vehicles. Smart airbags are being integrated in the latest offerings of automakers across the globe. New technologies, such as IoT, and advanced sensors are being integrated to extend the efficiency of airbag electronics in modulating the safety of automobile and its occupants. Ongoing innovation in development of airbags has led to disruptive transformations in the technologies used for developing airbag electronics.
Advancements in airbag designs are influencing the development of airbag electronics. Crash sensors, igniters, inflation equipment, weight sensors embedded in passenger seats, seat occupancy detectors and ultrasonic sensors are being integrated as key components in airbag electronics. Smart airbag technologies are being incorporated to develop airbag electronics that can instantly deploy airbags and prevent injuries in an event of collision.
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Transparency Market Research projects that the demand for airbag electronics will soar robustly across the globe during the forecast period, 2017-2026. According to the report, the global airbag electronics market is assessed to expand at a volume CAGR of 6.8% over the forecast period. The report further estimates that by the end of 2026, more than 237,500 thousand units of airbag electronics will be sold across the global automotive industry. Changing policies of road transport and traffic authorities with respect to automobile safety have been analyzed to study their influence on development of airbag electronics for future generations.
Mid-sized Cars and Compact Cars to Account for Nearly Half of Global Market Volumes through 2026
The report estimates that airbag electronics manufactured across the globe will be predominantly used in mid-sized cars and compact cars. In 2017, nearly 60,000 thousand units of airbag electronics were installed in mid-sized cars and compact cars across the globe. Growing sales of mid-sized cars will factor their dominance in the global airbag electronics market. In terms of vehicles, mid-sized cars are expected to account for one-fourth of overall airbag electronics volumes sold in the global market. The report further reveals that compact cars will register highest volume CAGR of 8% over the forecast period.
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Aftermarket Sales of Airbag Electronics to Gain Traction
In 2018 and beyond, OEMs will be the largest sales channel in the global airbag electronics market. By the end of forecast period, nearly 57% of airbag electronics manufactured in the global market will be sold through OEMs. However, the report also reveals that the aftermarket sales of airbag electronics will register fastest growth, reflecting a volume CAGR of 7.3% over the forecast period.
Key Manufacturers of Airbag Electronics
Autoliv (Sweden), Denso Corporation (Japan), Key Safety Systems, Inc. (US), Takata Corporation (Japan), Toyoda-Gosei Co., Ltd. (Japan), TRW Automotive Holdings Corp. (US), Ashimori, Hyundai Mobis, Ningbo Joyson Electronic, and Nihon Plast are globally observed as leaders in development of airbag electronics. These companies have been extensively profiled in the report, and their latest strategic developments have been detailed in an unbiased format. While these companies are expected to remain key stakeholders in the expansion of the global airbag electronics market through 2026, increasing manufacturing complexities and discrepancy in the global supply chain for automotive components will continue to serve as key market entry barriers.