Market Research Future Published a Cooked Research Report on Global Automotive Curtain Airbags Market Research Report.
The rising concerns related to automotive safety have played a major role in the development of automotive curtain airbags. Automotive curtain airbags are a particular type of side airbags which guard the head of the occupant in the event of an accident. They get instantaneously triggered when a side impact crash happens, and the airbags are deployed at the door rail above the window. Escalating incidences of road accidents globally have prompted a gradual rise in the demand for automotive curtain airbags. The market is anticipated to gross revenues worth USD 4,339.5 million while growing at a CAGR rate of 5.13 % CAGR approximately in the duration of the forecast period from 2017 to 2023.
Curtain airbags have been effective in limiting fatalities, particularly in the case of rollover and side collisions. As passive safety systems such as airbags play an important role in eliminating or limiting the damage caused to the driver, passengers, and pedestrians in the event of an accident, they are becoming an increasingly popular option to be incorporated in automobiles. The upsurge in the number of road accidents, leading to fatalities and severe injuries, has been a key reason for the extensive implementation of automotive passive safety systems. Thus, the demand for curtain airbags in low and compact vehicles especially is growing owing to the intensifying consumer awareness about the benefits of safety systems and improving road safety standards, together with increasing safety content per vehicle.
Over time, curtain airbags have proven to be far more superior to traditional airbags in case of rollover accidents as they utilize much more complex crash sensors. As a result, rollover accident activated side airbags which are traditionally designed to supplement seatbelts and decrease the risk of injury in case of ejection have improved in terms of their effectiveness while increasing the demand for the market. With major manufacturers in the automotive industry wanting to expand their customer base, across the globe, they are progressively leveraging additional safety features in their entry level vehicles to obtain a greater market share over time. Curtain airbags in vehicles significantly enhance the safety features offered to the customer, and hence are expected to see increased development in the duration of the forecast period. Moreover, governments across the globe have framed various regulations and introduced programs to create public awareness in the form of safety improvements initiatives from original equipment manufacturers which are expected to increase consumer confidence and indirectly boost the demand passive safety systems in the upcoming forecast period.
The segmentation of the market is carried out on the basis of application, yarn type, sales channel, vehicle type, coating type and region. By yarn type, the segmentation of the market comprises of polyester and nylon. By application, the market has been segmented into torso curtain airbags, head curtain airbags, and combo airbags. By sales channel, the market is segmented into aftermarket and OEM. Among these segments, the OEM segment presently is responsible for a key market share and is anticipated to develop with the highest CAGR. By coating type, the market segmentation comprises for silicone coating, neoprene coated, non-coated and others. Among these segments, the neoprene coated segment presently is responsible for the principal market share and is anticipated to develop at a high CAGR. By vehicle type, the market has been segmented into SUV and crossovers, premium vehicle, commercial vehicle, and hatchback & sedan.
Detailed Regional Analysis
The North American region is controlling the automotive curtain airbags market trailed by the European and Asia Pacific region. The North American region is accountable for the major market share in 2016, shadowed by the European region which is anticipated to develop at a CAGR of 5.13 percent through the forecast period. The North American region is anticipated to control the market in terms of revenue and will gradually grow through the forecast period. In the North American region, U.S. is the main nation that has added to the market. The curtain airbags manufacturers in the U.S. are executing crash tests as per government regulatory framework while giving safety benefits to customers.
The Asia Pacific region is the most rapidly growing market of curtain airbag owing to the growing per capita income of consumers, amplified vehicle production in emerging countries such as China and India, and the rise in the number of luxury vehicles in nations such as Japan. The passive safety systems are used to protect passengers in the event of an accident. Therefore, the automotive curtain airbags market in the Asia Pacific region is anticipated to register a CAGR of 5.41 percent during the forecast period.
The growth of the market vendors is dependent on market conditions, government support, and industry development. Players focus on strengthening their presence worldwide through partnership & collaboration followed by mergers & acquisitions during the forecast period. These strategies are widely adopted to increase their presence and the customer base. The competitive environment in the market is expected to intensify further due to the increase in new product developments and business expansions. Ashimori Industry Co., Ltd. (Japan), Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), Toyoda Gosei Co., Ltd. (Japan), Takata Corporation (Japan), Ningbo Joyson (China), Nihon Plast Co., Ltd. (Japan) are few of the major competitors in the market.