Chan Ye Xin Xi Wang·2025-07-05 01:01Industry Overview - The airbag is a crucial component of passive safety systems, consisting of sensors, airbag computers, gas generators, and airbag cushions [1][3] - The demand for airbags in China is increasing due to the rising production and sales of automobiles and new energy vehicles (NEVs) [1][13] - The supply scale of China's airbag market is projected to grow from 83.22 million units in 2020 to 99.22 million units in 2024 [1][13] Market Environment - Traffic safety issues have become prominent in China, with 238,351 road traffic accidents reported in 2024, resulting in 67,759 deaths and 275,125 injuries [5] - Airbags can reduce the death rate by 18% when used alone and by 47% when used in conjunction with seat belts [6] Production and Sales Trends - China's automobile production and sales exceeded 31 million units in 2024, marking a year-on-year growth of 3.7% and 4.5% respectively [8] - The NEV sector is experiencing rapid growth, with production and sales surpassing 10 million units for the first time in 2024, reflecting a year-on-year increase of 34.4% and 35.5% [11] Competitive Landscape - The airbag market in China is competitive, with both domestic and international companies increasing R&D investments and market expansion efforts [15] - Notable international brands like Autoliv and ZF are prominent in the market, while domestic companies like Huamao Technology and Junsheng Electronics are narrowing the gap through innovation [15][17] Development Trends - The market for airbags is expected to continue expanding due to stable growth in automobile production and increasing consumer safety demands [21] - The airbag industry is evolving towards smart, compact, and personalized solutions, with innovations in materials and manufacturing processes driving upgrades [22] - Government regulations on automotive safety are becoming stricter, promoting the development of the airbag market and enhancing industry competitiveness [23]