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he demand for electric vehicles is driving manufacturers to invest in electric vehicle technology. Many original equipment manufacturers (OEMs) have announced various investment strategies for developing and introducing new capacity. Ford, for example, announced a $1.5 billion (about $5 per person in the US) U.S. $11 billion (about $34 per person in the US) will be invested in electric vehicles by 2022.

The airbag type, the front airbag segment dominated the global automotive airbag market in 2023, in terms of revenue and is estimated to sustain its dominance during the forecast period. The front type automotive airbag segment is expected to grow at rapid pace due to the majority of incidents such as head-on collisions are increasing. Thus, the front automotive airbags help to lower the number of casualties during such accidents.

Recently, the national standard "Regulations for Safety Performance Inspection of New Energy Vehicles", which has attracted much attention from the industry, was released. This is China's first safety testing standard specifically for new energy vehicles and will be officially implemented on March 1, 2025.