Autoliv, a Swedish-American automotive safety provider, accounted for 36% of global steering wheel production, with a declining share in this indicator.
According to the company itself, Autoliv has that high global market share generated by the trend toward higher value steering wheels with leather and extra features.
However, its global coverage in this indicator fell from 37% in 2020 and 38% in 2019.
Now in 2018, his slice was 30 percent.
Autoliv’s component factories manufacture inflators, boosters, starters, textile cushions, webbing, pressed steel parts, springs, and overmolded steel parts used in seat belt and air bag assembly and steering wheels.
In addition, assembly factories source components from various parts, including Autoliv’s own component factories, and assemble complete fastening systems for «just-in-time» delivery to customers.
Products manufactured by Autoliv’s consolidated subsidiaries in 2021 consisted of 127 million complete seat belt systems (of which 82 million were equipped with pretensioners), 92 million side airbags (including curtain airbags and front center airbags), 52 million frontal airbags, 0.4 million other airbags, and 18 million steering wheels.
The automotive security market is driven by two main factors: Light Vehicle Production (LVP) and Content Per Vehicle (CPV).
The first growth engine, LVP, has increased at an average annual growth rate of around 1.3% since Autoliv’s inception in 1997, despite the substantial drop in LVP in 2020 and 2021 due to the Covid-19 pandemic. , supply chain disruptions and semiconductor shortages.
LVP is forecast to grow to about 92 million by 2024 from about 73 million in 2021, as the market is expected to recover from the effects of the pandemic and component shortages, according to IHS Markit.
Unlike LVP, where Autoliv can only aim to be on top-selling platforms, Autoliv can influence CPV more directly by continually developing and introducing new technologies with higher value-added features.
In the long term, this increases the average CPV of security and has caused the company’s markets to grow faster than the LVP.