Thermal & Airbag Market was valued at USD 15.5 Billion in 2022 and is projected to reach USD 25.7 Billion by 2030, growing at a CAGR of 7.2% from 2024 to 2030.
From 2023 to 2033, the demand for thermal and airbag solutions is expected to continue expanding, driven by several key factors. The ongoing development of autonomous vehicles, electric vehicles (EVs), and stringent government regulations aimed at improving passenger safety will likely drive the need for advanced thermal and airbag systems. Airbags are evolving, with new technologies such as side-curtain airbags, pedestrian protection airbags, and rear airbags making their way into new vehicle models. The future also promises innovations in thermal management, especially with the rise of electric vehicles that require advanced thermal regulation for their batteries and components. Moreover, rising consumer awareness around safety and comfort will continue to be a major influence on market demand.
The growth projections for thermal and airbag solutions between 2023 and 2033 are significant. With an expected rise in global car production, the market size is predicted to surge, particularly with advancements in safety standards and vehicle safety features. According to recent trends, the demand for airbags in commercial vehicles and high-end passenger cars is growing as both safety mandates and technological innovations in passive safety systems increase. Furthermore, the development of smart thermal systems, capable of adjusting to real-time environmental conditions and user preferences, is expected to fuel market expansion.
As automakers focus more on sustainability and carbon footprint reduction, the need for more efficient and energy-saving thermal systems will drive growth in this segment. With the rise of hybrid and electric vehicles, thermal management becomes crucial for maintaining battery performance and ensuring safety. This growth is compounded by the shift toward more sophisticated, integrated thermal solutions in areas like interior climate control, electric vehicle battery heating, and cooling technologies.
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The Thermal & Airbag Market has experienced substantial growth from 2018 to 2022, driven by advancements in automotive safety, consumer demand for enhanced vehicle performance, and a shift towards more energy-efficient, safety-conscious products. The period witnessed an increased incorporation of airbags and thermal systems across various industries, particularly in the automotive sector, as safety regulations became stricter and consumer expectations evolved. Airbags, specifically, continued to play a pivotal role in reducing vehicle fatalities and injuries, leading to widespread adoption globally. Meanwhile, thermal systems became more integral to enhancing the overall comfort and safety of vehicles, such as through the use of heated seats, steering wheels, and thermal insulation in electric vehicles (EVs), which gained momentum in the market during these years.
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Autoliv
Neaton Auto Products Manufacturing Incorporation
Denso Corporation
Robert Bosch GmbH
Continental AG
TRW Automotive
Toyoda Gosei Corporation
Takata Corporation
Delphi Automotive
Key Safety Systems
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Thermal & Airbag Market
Commercial Vehicle
Passenger Vehicle
Based on Types the Market is categorized into Below types that held the largest Thermal & Airbag market share In 2023.
Front Airbag
Knee Airbag
Side Airbag
Curtain Airbag
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Thermal & Airbag Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Thermal & Airbag Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Thermal & Airbag Market, By Type
6. Global Thermal & Airbag Market, By Application
7. Global Thermal & Airbag Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Thermal & Airbag Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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