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What Is The Projected Valuation Of The Pedestrian Protection Airbag Market In The Coming Years?

The market for pedestrian protection airbags has seen a significant increase in size in the past few years. The market is projected to expand from a value of $1.77 billion in 2024 to a worth of $1.94 billion in 2025, with a compound annual growth rate (CAGR) of 9.4%. The historical growth can be linked to factors such as increased vehicular traffic, a rise in road mishaps, an upsurge in automobile production, broadening of automotive safety rules, and heightened consumer consciousness about safety.

The market for pedestrian protection airbags is anticipated to experience robust growth in the coming years, reaching a market size of $2.82 billion by 2029, with a compound annual growth rate (CAGR) of 9.9%. This projected growth within the forecast period can be due to the increasing popularity of intelligent vehicles, rising urban population, enhanced pedestrian facilities, continued concerns about pedestrian safety, and the implementation of more government safety regulations. Key trends expected within this same period include advancements in airbag technology, the incorporation of artificial intelligence in vehicle safety measures, the creation of more sophisticated airbags equipped with sensors, progress in collision detection sensor technology, and the innovation of 3D printed airbags.

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What Underlying Factors Are Supporting The Pedestrian Protection Airbag Market Growth?

The pedestrian protection airbag market’s growth is expected to accelerate, credited to an increased volume in vehicular traffic. This encompasses the movement of various transport means such as cars, trucks, buses, motorcycles, bicycles on roadways, or streets. Aspects like growing population, rising urbanization, and enhanced disposable incomes are contributing to a surge in vehicular traffic, through increased vehicle ownership and usage. Pedestrian protection airbags offer a safety layer for on-road traffic, mitigating the impact of potential accidents with pedestrians. In fact, the Department of Transport, a governmental department in the UK, revealed that, in May 2024, the car traffic on the motorways of Great Britain surged by 3.3%, reaching 48.5 billion vehicle miles in total. Further, there was also a rise in van traffic by 1.6%, amounting to 13.0 billion vehicle miles. Thus, the growth in vehicular traffic accentuates the progress of the pedestrian protection airbag market.

How Does The Pedestrian Protection Airbag Market Differ By Segment?

The pedestrian protection airbagmarket covered in this report is segmented –

1) By Airbag Type: Front Pedestrian Airbag, Lateral Pedestrian Airbag, Pop-Up Pedestrian Airbag

2) By Deployment Mechanism Type: Sensor-Based, Camera-Based, Radar-Based

3) By Application: Passenger Vehicle, Commercial Vehicle

4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

Subsegments:

1) By Front Pedestrian Airbag: Windshield Airbag, Hood Airbag, Bumper Airbag

2) By Lateral Pedestrian Airbag: Side Panel Airbag, A-Pillar Airbag, Door-Mounted Airbag

3) By Pop-Up Pedestrian Airbag: Hood Lift Airbag, Grille-Mounted Airbag, Fender-Mounted Airbag

What New Opportunities Are Emerging From Trends In The Pedestrian Protection Airbag Market?

Leading businesses in the pedestrian protection airbag market are concentrating on creating novel items like airbags constructed from recycled polyester. This initiative not only promotes sustainability but also minimises environmental harm while ensuring safety measures are upheld. Recycled polyester airbags, made entirely from reused materials, have been proven to drastically reduce greenhouse gas emissions, whilst still adhering to safety requirements. Autoliv Inc., a motor vehicle parts producer based in Sweden, for example, launched airbag cushions constructed from 100% recycled polyester in June 2024, thereby minimising the greenhouse gas (GHG) footprint of airbags. This groundbreaking development, carried out jointly with supply chain partners, cuts the polymer level’s greenhouse gas footprint by about 50% while offering the same safety performance compared to conventional polyester airbags. The transition towards recycled polyester contributes to the decrease in greenhouse gas (GHG) emissions during production and inspires a circular economy by repurposing materials that may have otherwise been discarded.

Who Are The Most Influential Companies In The Pedestrian Protection Airbag Market?

Major companies operating in the pedestrian protection airbag market are Toyota Motor Corporation, Ford Motor Company, General Motors Company, BMW AG, Honda Motor Co. Ltd., Robert Bosch GmbH, Nissan Motor Co. Ltd., Daimler AG, Denso Corporation, Continental AG, Hyundai Mobis, Volvo Car Corporation, Magna International Inc., TRW Automotive Holdings Corporation, Joyson Safety Systems, Autoliv Inc., Toyoda Gosei Co. Ltd., Daicel Corporation, Kolon Industries Inc., Ashimori Co.

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Which Region Is Leading Innovation In The Pedestrian Protection Airbag Market?

North America was the largest region in the pedestrian protection airbag market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pedestrian protection airbag market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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