According to Premium Market Insights new research study on “Automotive Airbag ECU Market Forecast to 2028 – COVID-19 Impact and Global Analysis” report published by The Insight Partners, the automotive airbag ECU market is expected to reach US$ 7,868.11 million by 2028, registering a CAGR of 3.7% from 2022 to 2028.
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Some Of the Major Players Influencing are Major players in the automotive airbag ECU market, including Aptiv, Autoliv, Inc., Hyundai Mobis, Robert Bosch GmbH, Continental AG, dspace GmbH, Joyson Safety Systems, Tokairika Co, Ltd, ZF Friedrichshafen AG, Mitsubishi Electric Corporation, Denso Corporation, and Veoneer Inc., utilize both organic and inorganic strategies to maintain their competitive edge. In 2019, Joyson Safety Systems announced a Tri-Party Joint Venture in India, merging two Joint Ventures to form Joyson ANAND Abhishek Safety Systems Private Limited, which would help the company enhance the operations of its safety systems, such as airbag ECUs.
There is a significant potential for growth in the automotive airbag ECU market due to increased consumer awareness and willingness to pay for better safety features. In India, the Bharat New Vehicle Safety Assessment Program (BNVSAP) rates cars based on their crash safety performance features, including airbags, ABS, and seat belt reminders. Meanwhile, the ASEAN NCAP has adapted to focus more on road safety in Southeast Asian countries.
In Europe, major automakers like Navistar, PACCAR, BMW, Daimler, Toyota, Volvo, and General Motors are present. The EU’s Zero Emission by 2050 initiative aims to promote electric vehicle adoption and the use of EV airbag ECUs in the region. However, the ongoing Russia-Ukraine War has disrupted the European automotive airbag ECU market, with automakers struggling to acquire necessary wiring harnesses. Production has been halted at German car factories, and suppliers from Western Ukraine have ceased operations due to the conflict. Despite this, the UN’s Decade of Action for Road Safety, launched in October 2021, aims to reduce fatalities from road accidents.
The COVID-19 pandemic had an adverse impact on the production of airbag ECUs worldwide in 2020; however, the increasing demand for electric vehicles (EVs) is expected to create lucrative opportunities for market players in the automotive airbag ECU industry during the forecast period. The Global Electric Vehicle Outlook indicates that electric car sales, including fully electric and plug-in hybrid vehicles, rose to a record high of 6.6 million units in 2021. China’s electric car sales increased significantly to 3.3 million units, accounting for roughly 50% of global sales, while EV sales in Europe and the US increased by 65% and doubled, respectively, in 2021. The growing scale of EV production is expected to drive demand for automotive airbag ECUs in the coming years. Electric cars are equipped with advanced airbags and seatbelts to ensure a better travel experience.
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The key players in the automotive airbag ECU market are Aptiv, Autoliv, Inc., Robert Bosch GmbH, Continental AG, and Denso Corporation. These companies are expanding their businesses through new product launches, market initiatives, technology upgrades, mergers and acquisitions, and other collaborative efforts. For instance, in 2021, HELLA GmbH and Faurecia merged their businesses, with Faurecia purchasing a 60% stake in HELLA from its
pool of shareholders while maintaining the value of HELLA’s shares at $70 per share in the joint venture. The merger resulted in the establishment of the world’s seventh-largest automotive supplier. In India, Continental AG localized its value chain, from R&D to design, to cater to the growing demand for airbag control units (ACUs), with its manufacturing plant in Bengaluru producing one million ACUs annually.
COVID-19 Impact on Europe Automotive Airbag ECU Market Size
The COVID-19 pandemic had a significant negative impact on Europe’s automotive airbag ECU market share in 2020. Partial border closures and restrictions on imports and exports caused a decline in production volumes in various industries, including automotive airbag ECU manufacturers. Additionally, semiconductor manufacturers faced challenges due to limited workforces, which adversely affected product deliveries. Despite efforts to resume operations in 2021, the region’s struggle to procure semiconductor components led to a loss in the automotive airbag ECU market in 2022.
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The overall automotive airbag ECU market analysis has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the automotive airbag ECU market. The process also serves the purpose of obtaining an overview and forecast of the automotive airbag ECU market size with respect to all market segments. Also, industry participants and commentators have conducted multiple primary interviews to validate the data and gain more analytical insights. The participants typically involved in the automotive airbag ECU market study include VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the automotive airbag ECU market.
Table Of Contents
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Automotive Airbag ECU Market- By Product type
1.3.2 Global Automotive Airbag ECU Market- By Airbag type
1.3.3 Global Automotive Airbag ECU Market- By Vehicle type
1.3.4 Global Automotive Airbag ECU Market- By Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Automotive Airbag ECU Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Automotive Airbag ECU Market- Key Market Dynamics
5.1 Market Drivers
5.1.1 Stringent Safety and Regulatory Standards for Vehicles
5.1.2 Technological Advancements in Airbag ECUs
5.2 Market Restraints
5.2.1 Limitations on Storage Time and Data Availability in Airbag ECU
5.3 Market Opportunities
5.3.1 Government Initiatives to Strengthen Vehicle Safety Evaluation Systems
5.4 Future Trends
5.4.1 Adoption of Airbag ECUs in Electric Vehicles
5.5 Impact Analysis of Drivers and Restraints
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