QYResearch: Global Airbag Market was 12 Billion USD in 2016

Author: Zhang Ning  

Publisher: QYResearch  

Recently, QYResearch published a report on Airbag. Airbag is a soft pillow to land against in a crash. Airbags can inflate in less than a tenth of a second to protect people from the forces of a head-on collision. Since introduced in the early 1980s, airbags have saved thousands of lives. Now, airbag has been a necessary part of automotive.

With the rapid increase of automobile production, the airbag market also developed fast in the last several years. The global production of airbag is about 388 million units in 2016, with revenue of 12 billion USD.

The prospect of airbag industry is good in next years. The global production of airbag is expected to be 512 million units in 2022, with a CAGR of 5.6%.

With enormous automobile population, the growth rate of airbag production will be slightly larger than the growth rate of automotive industry itself. And the airbag products have a large potential market in China, for the side airbag and knee airbag, etc.

Because of the large technical barrier, the market concentration of airbag industry is rather high. Among these manufacturers, Autoliv, Takata, ZF TRW and Toyoda Gosei, the top 4 manufacturers have occupied more than 83% production market share in 2016.

In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits. In June 2017, Key Safety Systems has reached a deal to acquire Takata Corp. for $1.59 billion as part of a pre-packaged bankruptcy in the U.S. and Japan. Under the deal, Sterling Heights based-Key Safety proposed to acquire all global Takata assets and operations, except those tied to the phase-stabilized ammonium nitrate airbag inflators business. Malfunction of Takata's airbag inflators led to at least 16 deaths and a $1 billion fine in the U.S.

The growth rate of China automotive production is higher than other regions. To seize the market in China, some manufacturers have built plants in China. To maintain or expand the market share, the Chinese manufacturers must make larger investment on technology research and development.

Due to the improvement of technology, there will be more manufacturers enter this industry in the future. The market competition will be fierce that the influence of technology and materials will be larger.

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