Middle East & Africa Automotive Airbag ECU Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Standard and Premium), Airbag Type (Frontal Airbag ECU and Curtain Airbag ECU), and Vehicle Type (Passenger Vehicles and Commercial Vehicles)
The automotive airbag ECU market in Middle East & Africa is expected to grow from US$ 370.39 million in 2022 to US$ 468.88 million by 2028. It is estimated to grow at a CAGR of 4.0% from 2022 to 2028.
Government Initiatives to Strengthen Vehicle Safety Evaluation Systems
The growing awareness among consumers about vehicle safety features, along with a rise in willingness to pay extra costs for airbags with better features, signifies a vast potential for the automotive airbag ECU market. In India, the Bharat New Vehicle Safety Assessment Program (BNVSAP) initiative is a voluntary star rating system based on crash safety performance features. The program focuses on systems such as front airbags, anti-lock braking systems (ABS), and seat belt reminder generators while evaluating cars. The New Car Assessment Program for Southeast Asian Countries (ASEAN NCAP) has brought multiple changes and adaptations regarding the region's socioeconomic development, focusing more on road safety. The UN initiative Decade of Action for Road Safety, introduced in October 2021, has helped to bring down the number of fatalities associated with road accidents.
Market Overview
The automotive airbag ECU market in the MEA is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The automotive sector in these countries is growing at a steady pace. The rising demand for commercial vehicles across the region can be attributed to increased development and infrastructure operations in many countries. Despite an increase in the sales in the automobile sector, Turnkey manufacturing was hampered by chips shortage. However, in the coming years, semiconductor production will increase due to the consistent rise in vehicles sales. Additionally, the region depends on foreign production facilities to import parts for the vehicle industry. The National Electronics and Cryptology Research Institute is striving to manufacture components at its semiconductor Technologies Research Laboratory. The growth of the automobile market will be considerably aided by this strategy.
The governments of several countries in the MEA have realized the importance of the automotive industry and are taking initiatives to support the growth of the automotive manufacturing industry in the region. For instance, the Government of South Africa launched South African Automotive Masterplan (SAAM) that aims to broaden and deepen the local value chains. Additionally, the automotive manufacturers in South Africa are focusing on strengthening their position in the country. For instance, in 2018, Mahindra SA opened its vehicle assembly facility in Durban, South Africa. In January 2020, Toyota announced that it would invest ~US$ 266.21 million in its parts distribution and manufacturing projects in South Africa. The rising government initiatives for the development of the automotive sector and the increasing focus of the companies toward strengthening their presence in the region support the growth of the automotive airbag ECU market in the country. In addition, the South African government and the businesses place the highest priority on passenger safety. Manufacturers have been forced to include safety equipment in cars by regulations aimed at enhancing consumer security and safety. Due to several government initiatives aimed at improving passenger safety, including the implementation of crash tests for front and side impact protection, and anti-lock braking requirements, South Africa continues to hold the largest automotive airbag ECU market share in the MEA. Furthermore, several leading companies, such as BMW and Mercedes, are dominating the automotive industry in the country. Further, Saudi Arabia is considered to have the largest automotive sales and auto parts segment. Moreover, it remains an important market for the US automakers. Besides, SUVs and luxury cars are widely adopted vehicles in the country, gaining significant traction among consumers.
Middle East & Africa Automotive Airbag ECU Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Automotive Airbag ECU Market Segmentation
The Middle East & Africa automotive airbag ECU market is segmented into product type, airbag type, vehicle type, and country.
The product type segment is bifurcated into standard and premium. Premium segment is expected to lead the automotive airbag ECU market in 2022.
Based on airbag type, the automotive airbag ECU market can be bifurcated into frontal airbag ECU and Curtain airbag ECU. Frontal airbag ECU segment is expected to lead the automotive airbag ECU market in 2022. Based on vehicle type, the market is segmented into passenger vehicles and commercial vehicles. The commercial segment is expected to hold the largest market share in 2022. Based on country, the market is segmented into Saudi Arabia, South Africa, UAE, and the Rest of Middle East & Africa. South Africa is expected to dominate the market in 2022. Aptiv; Autoliv Inc.; Continental AG; Denso Corporation; HELLA GmbH and Co. KGaA; Mitsubishi Electric Corporation; Robert Bosch GmbH; and ZF Friedrichshafen AG are the leading companies operating in the automotive airbag ECU market in the region.
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Middle East & Africa automotive airbag ECU 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 the Middle East & Africa automotive airbag ECU 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 Middle East & Africa market trends and outlook coupled with the factors driving the automotive airbag ECU market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook