Automotive Airbag Market Breaks US$10 Billion Barrier

In 2022, the global automotive airbag market surpassed US$10 billion, with substantial growth forecasted through 2030. China led global passenger vehicle production in 2019, producing over 54 million units. Rising consumer affluence and shifting preferences from bikes to cars in India and China are driving market demand. Stringent safety regulations and government mandates for airbags are boosting growth. Silicon-coated airbags are preferred for their durability and safety features. The Asia Pacific region, particularly China and India, is expected to see significant market expansion due to increasing vehicle sales and favorable business environments.