South & Central America Automotive Airbags and Seatbelts Market Forecast to 2028 – COVID

South & Central America Automotive Airbags and Seatbelts Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Airbags Type (Front, Knee, Side and Curtain), Seatbelts Type (2-point and 3-point), and Vehicle Class (Passenger Cars, Light Commercial Vehicles, and Heavy Commercial Vehicles)

Report Code : BMIRE00027360 | Region : LAMEA | Industry : Automotive and Transportation | Published Date : 08/Nov/2022

The automotive airbags and seatbelts market in South & Central America is expected to grow from US$ 2,580.36 million in 2022 to US$ 3,469.43 million by 2028. It is estimated to grow at a CAGR of 5.1% from 2022 to 2028.

Growing Initiatives for Introducing Regulatory Standards Related to Vehicle Safety

The automotive industry is a pillar of the South & Central America economy. It plays a crucial role in a country's economy and helps build macroeconomic growth and stability in developed and developing countries, spanning many adjacent sectors. After the pandemic, a sharp increase in car sales and a significant rise in traffic accidents have become increasingly frequent and severe. At the same time, with the rapid development of science and technology, automotive technology has also been rapidly improved, and automotive safety technology has gradually become involved in all aspects of the car. Thus, such initiatives for introducing regulatory standards related to vehicle safety are fuelling the market growth.

Market Overview

South America has the presence of major automakers, including General Motors, Volkswagen, Hyundai, Ford, Toyota, Peugeot, and Renault. Further, the national regulatory bodies of various countries in the region have realized the importance of the automotive industry and are taking initiatives to develop the automotive industry. For instance, an initiative by the Brazilian authority regarding Route 2030 (a scheme of tax credits worth billions of dollars to auto and auto-parts manufacturers in Brazil) was announced in 2017, which was eagerly anticipated as the industry struggles to grow sustainably following the country's exit from recession in 2017. Route 2030 offered US$ 535 million in tax incentives from 2019 to eligible manufacturers and US$ 382 million annually, which will continue till 2030. The program applies specifically to profitable auto companies actively investing in research & development, especially those creating technologies that boost energy efficiency within Brazil. Similarly, in 2017, Argentine President Mauricio Macri announced a US$ 1 million plan for the development of the automotive industry, under which the country aimed to produce 750,000 cars annually by 2019 and ~1 million units by 2023. Therefore, the government initiatives to support the growth of the automotive industry will strengthen the automotive manufacturing industry, which is likely to support the growth of the automotive airbags and seatbelts market in the region.

South & Central America Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Automotive Airbags and Seatbelts Market Segmentation

The South & Central America automotive airbags and seatbelts market is segmented into airbags type , seatbelts type, vehicle class, and country.

Based on airbag type , the market is segmented into front, knee, side and curtain. The front segment registered the largest market share in 2022. Based on seatbelts type , the market is segmented into 2-point and 3-point. The 3- point segment held the largest market share in 2022. Based on vehicle class , the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held the largest market share in 2022. Based on country, the market is segmented into Brazil , Argentina and Rest of South & Central America. Brazil dominated the market share in 2022. Autoliv Inc. ; Continental AG ; Denso Corporation ; INFINEON TECHNOLOGIES AG ; Robert Bosch GmbH ; ZF Friedrichshafen AG ; Hyundai Mobis ; Joyson Safety Systems and Toyoda Gosei Co., Ltd. are the leading companies operating in the automotive airbags and seatbelts market in the region.

At 5.1% CAGR, the South & Central America Automotive Airbags and Seatbelts Market is speculated to be worth US$ 3,469.43 million by 2028, says The Insight Partners

According to The Insight Partners’ research, the South & Central America automotive airbags and seatbelts market was valued at US$ 2,580.36 million in 2022 and is expected to reach US$ 3,469.43 million by 2028, registering an annual growth rate of 5.1% from 2022 to 2028. Growing initiatives for introducing regulatory standards related to vehicle safety and increasing advancements in airbag and seatbelt technologies are the critical factors attributed to the market expansion.

With the rapid expansion of the South & Central America automotive landscape, manufacturers are primarily focused on enhancing engineering fuel and cost efficiency, improving the driving experience, and working toward the overall safety of passengers and drivers. Airbags and seatbelts remain a key passive safety system in the automotive sector. The growing advancement in airbag and seatbelt technologies is increasing their adoption across passenger vehicles, thereby propelling the market growth. The airbag is best used in combination with wearing a safety belt. It can prevent injuries and fatalities in front-end collisions. Airbag manufacturers have developed an array of airbags, side curtains, and knee bolsters to protect front-seat occupants and are further planning to design a new generation of airbags for rear-seat passengers. For instance, TRW Automotive Holdings Corp. has unveiled two airbags, one mounted on the roof and one in the back of the front seat, which could protect rear-seat passengers during a frontal collision. In addition, the Citroën C4 Cactus is a subcompact crossover SUV, which is equipped with a new roof-mounted passenger airbag technology. The growing advancement in technology for airbags in the automotive industry is fueling the market growth. For instance, the computer-operated dual deploys, or dual-stage airbags can deploy at two speeds. Airbags deploy at the lower first stage in less severe accidents, usually about 70% of full force. In more severe accidents, both stages are deployed. Further, side airbags are effective in preventing the driver and passengers from head injuries due to the rigid areas of the vehicle in side-impact collisions. Thus, such developments in technology for airbags and seatbelts are anticipated to drive the market.

On the contrary, high operating and maintenance costs hampers market South & Central America automotive airbags and seatbelts market.

Based on airbags type, the market is segmented into front, knee, side and curtain. The front segment held 70.95% market share in 2022, amassing US$ 1,830.84 million. It is projected to garner US$ 2,417.26 million by 2028 to expand at 4.7% CAGR during 2022–2028. Based on seatbelts type, the market is segmented into 2-point and 3-point. The 3- point segment held 91.35% market share in 2022, amassing US$ 2,357.27 million. It is projected to garner US$ 3,229.45 million by 2028 to expand at 5.4% CAGR during 2022–2028. Based on vehicle class, the market is segmented into passenger cars, light commercial vehicles, and heavy commercial vehicles. The passenger cars segment held 83.70% market share in 2022, amassing US$ 2,159.82 million. It is projected to garner US$ 2,982.53 million by 2028 to expand at 5.5% CAGR during 2022–2028. Based on country, the South & Central America automotive airbags and seatbelts market has been categorized into Brazil, Argentina and Rest of South & Central America. Our regional analysis states that Brazil captured 71.28% market share in 2022. It was assessed at US$ 1,839.36 million in 2022 and is likely to hit US$ 2,532.68 million by 2028, exhibiting a CAGR of 5.5% during the forecast period. Key players dominating the South & Central America automotive airbags and seatbelts market are Autoliv Inc.; Continental AG; Denso Corporation; INFINEON TECHNOLOGIES AG; Robert Bosch GmbH; ZF Friedrichshafen AG; Hyundai Mobis; Joyson Safety Systems and Toyoda Gosei Co., Ltd.

In,2022; Autoliv has announced its collaboration with Nuro, autonomous vehicle company for providing higher safety features with exterior airbag to Nuro's latest third-generation vehicle. In, 2021; Toyoda has launched its new airbag designed for pedestrian's head protection. This pedestrian airbag is installed at front pillars providing the maximum security against collisions.

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. South & Central America Automotive Airbags and Seatbelts Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 South America

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. South & Central America Automotive Airbags and Seatbelts Market – Key Industry Dynamics

5.1 Market Drivers

5.1.1 Growing Initiatives for Introducing Regulatory Standards Related to Vehicle Safety

5.1.2 Increasing Advancements in Airbag and Seatbelt Technologies

5.2 Market Restraints

5.2.1 High Operating and Maintenance Costs

5.3 Market Opportunities

5.3.1 Growing Awareness About Vehicle Safety Features

5.4 Future Trends

5.4.1 Growing Adoption of Electric Vehicles

5.5 Impact Analysis of Drivers and Restraints

6. Automotive Airbags and Seatbelts Market – South & Central America Market Analysis

6.1 South & Central America Automotive Airbags and Seatbelts Market Overview

6.2 South & Central America Automotive Airbags and Seatbelts Market Forecast and Analysis

7. South & Central America Automotive Airbags and Seatbelts Market Analysis – By Airbags Type

7.1 Overview

7.2 South & Central America Automotive Airbags and Seatbelts Market, By Airbags Type (2021 And 2028)

7.3 Front

7.3.1 Overview

7.3.2 South & Central America Front: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

7.4 Knee

7.4.1 Overview

7.4.2 South & Central America Knee: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

7.5 Side and Curtain

7.5.1 Overview

7.5.2 South & Central America Side and Curtain: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

8. South & Central America Automotive Airbags and Seatbelts Market Analysis – By Seatbelts Type

8.1 Overview

8.2 South & Central America Automotive Airbags and Seatbelts Market, By Seatbelts Type (2021 And 2028)

8.3 2-point

8.3.1 Overview

8.3.2 South & Central America 2-point: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

8.4 3-point

8.4.1 Overview

8.4.2 South & Central America 3-point: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

9. South & Central America Automotive Airbags and Seatbelts Market Analysis – By Vehicle Class

9.1 Overview

9.2 South & Central America Automotive Airbags and Seatbelts Market, By Vehicle Class (2021 and 2028)

9.3 Passenger Cars

9.3.1 Overview

9.3.2 South & Central America Passenger Cars: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

9.4 Light Commercial Vehicles

9.4.1 Overview

9.4.2 South & Central America Light Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

9.5 Heavy Commercial Vehicles

9.5.1 Overview

9.5.2 South & Central America Heavy Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast To 2028 (US$ Million)

10. South & Central America Automotive Airbags and Seatbelts Market – Country Analysis

10.1 SAM: Automotive Airbags and Seatbelts Market

10.1.1 Overview

10.1.2 SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)

10.1.3 SAM Automotive Airbags and Seatbelts Market Breakdown, By Country

10.1.3.1 Brazil Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028

10.1.3.1.1 Brazil Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type

10.1.3.1.2 Brazil Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type

10.1.3.1.3 Brazil Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class

10.1.3.2 Argentina Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028

10.1.3.2.1 Argentina Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type

10.1.3.2.2 Argentina Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type

10.1.3.2.3 Argentina Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class

10.1.3.3 Rest of SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028

10.1.3.3.1 Rest of SAM Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type

10.1.3.3.2 Rest of SAM Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type

10.1.3.3.3 Rest of SAM Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class

11. Industry Landscape

11.1 Market Initiative

11.2 New Development

12. Company Profiles

12.1 Autoliv Inc.

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 Continental AG

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Denso Corporation

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 INFINEON TECHNOLOGIES AG

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 Robert Bosch GmbH

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 ZF Friedrichshafen AG

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Hyundai Mobis

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Joyson Safety Systems

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Toyoda Gosei Co., Ltd.

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1. South & Central America Automotive Airbags and Seatbelts Market – Revenue and Forecast to 2028 (US$ Million)

Table 2. SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 – By Airbags Type (US$ million)

Table 3. SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 – By Seatbelts Type (US$ million)

Table 4. SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 – By Vehicle Class (US$ million)

Table 5. SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast To 2028 – By Country (US$ million)

Table 6. Brazil Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Airbags Type (US$ million)

Table 7. Brazil Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Seatbelts Type (US$ million)

Table 8. Brazil Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Vehicle Class (US$ million)

Table 9. Argentina Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Airbags Type (US$ million)

Table 10. Argentina Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Seatbelts Type (US$ million)

Table 11. Argentina Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Vehicle Class (US$ million)

Table 12. Rest of SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Airbags Type (US$ million)

Table 13. Rest of SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Seatbelts Type (US$ million)

Table 14. Rest of SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 – By Vehicle Class (US$ million)

Table 15. List of Abbreviation

LIST OF FIGURES.

Figure 1. South & Central America Automotive Airbags and Seatbelts Market Segmentation

Figure 2. South & Central America Automotive Airbags and Seatbelts Market Segmentation – By Country

Figure 3. South & Central America Automotive Airbags and Seatbelts Market Overview

Figure 4. Front Segment held the Largest Share of Automotive Airbags and Seatbelts Market

Figure 5. Brazil to Show Great Traction During Forecast Period

Figure 6. South America – PEST Analysis

Figure 7. Ecosystem Analysis: Automotive Airbags and Seatbelts Market

Figure 8. Expert Opinion

Figure 9. South & Central America Automotive Airbags and Seatbelts Market: Impact Analysis of Drivers and Restraints

Figure 10. South & Central America Automotive Airbags and Seatbelts Market Forecast and Analysis (US$ Million)

Figure 11. SAM Automotive Airbags and Seatbelts Market Breakdown, By Airbags Type, 2021 & 2028 (%)

Figure 12. South & Central America Front: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 13. South & Central America Knee: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 14. South & Central America Side and Curtain: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 15. SAM Automotive Airbags and Seatbelts Market Breakdown, By Seatbelts Type, 2021 & 2028 (%)

Figure 16. South & Central America 2-point: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 17. South & Central America 3-point: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 18. SAM Automotive Airbags and Seatbelts Market Breakdown, By Vehicle Class, 2021 & 2028 (%)

Figure 19. South & Central America Passenger Cars: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 20. South & Central America Light Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 21. South & Central America Heavy Commercial Vehicles: Automotive Airbags and Seatbelts Market Revenue and Forecast to 2028 (US$ Million)

Figure 22. SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)

Figure 23. SAM Automotive Airbags and Seatbelts Market Breakdown, By Country, 2021 & 2028 (%)

Figure 24. Brazil Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)

Figure 25. Argentina Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)

Figure 26. Rest of SAM Automotive Airbags and Seatbelts Market, Revenue and Forecast to 2028 (US$ million)

The List of Companies - South & Central America Automotive Airbags and Seatbelts Market

● Autoliv Inc.

● Continental AG

● Denso Corporation

● INFINEON TECHNOLOGIES AG

● Robert Bosch GmbH

● ZF Friedrichshafen AG

● Hyundai Mobis

● Joyson Safety Systems

● Toyoda Gosei Co., Ltd.

● Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America Automotive Airbags and Seatbelts Market.

● Highlights key business priorities in order to assist companies to realign their business strategies.

● The key findings and recommendations highlight crucial progressive industry trends in South & Central America Automotive Airbags and Seatbelts Market, thereby allowing players across the value chain to develop effective long-term strategies.

● Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.

● Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the market, as well as those hindering it.

● Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.

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