Global Airbag Control Unit Sensor demand is anticipated to be valued at US$ 590.3 Million in 2022, forecast to grow at a CAGR of 6.7% to be valued at US$ 1,127.6 Million from 2022 to 2032. Growth is attributed to an increase in the number of traffic mortality rates.
Airbag Control Unit Sensors have long been essential parts of electronic control systems. They have a safety feature that keeps them safe in hostile environments. The increased demand for and sale of automobiles is driving very rapid growth in airbag control unit sensors.
The readings from the sensors in the Airbag Control Unit are used to evaluate and examine the signals from other sensors. The airbag control unit and new additional system are then informed of the crash signals, which activate the hazard lights and interior lights, turn off the fuel pump, and stop the engine. The restraint systems have also been improved to be the most effective for the different types of accidents.
The airbag control unit sensor market is being driven by factors such as rising consumer comfort demands, advanced safety features, and tightening government safety regulations. Additionally, the market for airbag control unit sensors is anticipated to grow due to the new generation’s highly efficient and more affordable sensors.
On the other hand, it is anticipated that during the analysis period, market growth will be constrained by the high installation costs for airbag control unit sensors.
In terms of regional platforms, North America holds the latest market share in the airbag control unit sensor market, attributed to the growing technological innovations and research activities in the aerospace and automobile industries.
The rise in infrastructure development is one of the major factors that is expected to push the growth of airbag control unit sensors’ marshortlyture. The region is expected to accumulate a market share of 14.5% in 2022.
Europe is predicted to offer enormous growth opportunities for Airbag Control Unit sensors and be responsible for 18.8% of the market’s revenue worldwide, according to Future Market Insights.
Due to important factors like the rising demand for vehicles that are safer and more efficient, European nations are experiencing an airbag control unit sensor market boom. Along with the rising popularity of vehicle automation, the demand for airbag control unit sensors is also anticipated to increase significantly during the forecast period.
- AUTOLIV ZF
- Friedrichshafen AG
- Takata Corporation
- Toyoda Gosei Co. Ltd.
- Hyundai Mobis
- Nihon Plast Co. Ltd.