Pune, India, June 20, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR)’s analysis indicates that the global automotive curtain airbags market is projected to strike a CAGR of 5.13% during the forecast period 2018 to 2023. Additionally, the assessment further suggests that the global market is anticipated to value at USD 4,339.5 Mn by 2023-end up from USD 3,234.1 Mn in 2017. An exponential rise in the number of road accidents has motivated the automakers to adopt passive safety systems. This, in turn, is prognosticated to catapult the market on an upward trajectory.
Curtain airbags assure provision for the utmost safety in case of rollover accidents. It is projected to encourage the adoption of these airbags at a higher rate over the next couple of years. The increasing demand for high-end automobiles is likely to support the expansion of the automotive curtain airbags market in the foreseeable future. Additionally, the increasing use of curtain airbags in compact and low-priced vehicles is expected to revolutionize the growth pattern of the market in the years to come.
The supportive laws framed by the governments in order to ensure road safety is anticipated to catalyze the growth pace of the market over the assessment period. Governments are prompting the automakers to undergo crash tests. This, in turn, is poised to favor the proliferation of the market across the review period. However, the high replacement cost of these airbags remains an impediment to market growth.
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Market Segmentation:
This MRFR report offers a detailed segmental analysis of the global automotive curtain airbags market based on yarn type, application, sales channel, coating type, and vehicle type. By yarn type, the market has been segmented into polyester and nylon. Among these, the nylon segment is projected to dominate the market and exhibit a comparatively higher CAGR over the assessment period.
Based on application, the market is segmented into torso curtain airbags, head curtain airbags, and combo airbags. The head curtain airbags segment is likely to witness growing demand over the next couple of years. It is anticipated to account for the lion’s share of the market during the review period reflecting a relatively higher CAGR.
The automotive curtain airbags market, by sales channel, has been segmented into aftermarket and OEM. Among these, the OEM segment held 86.4% market share in 2016. It is forecasted to retain its forefront position over the projection period.
By coating type, the market has been segmented into silicone coating, neoprene coated, non-coated and others. The neoprene coated segment is poised to hold the leading position in the marketplace through the assessment period. Additionally, the silicone coating segment is likely to signify positive growth and secure the second position in the market.
Based on vehicle type, the Automotive Curtain Airbags Market has been segmented into SUV and crossovers, premium vehicle, commercial vehicle, and hatchback & sedan. Among these, the premium vehicle segment is prognosticated to retain the pole position across the forecast period.
The U.S. expected to lead market growth in North America
The global automotive curtain airbags market, by region, is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is currently placed at the dominant position in the global marketplace and is expected to retain its pole position through the assessment period. The growth of the regional market can be ascribed to the increasing implementation of supportive laws framed by the governments for assuring passenger and pedestrian safety.
Asia Pacific is a highly lucrative market and is anticipated to thrive saliently over the next few years. The boom witnessed in the Chinese market is likely to dictate the growth trajectory of the automotive curtain airbags market in the region. Also, the increasing demand for high-end vehicles is projected to augment the regional market in the forthcoming years.
Key Players:
The noted players operating in the global automotive curtain airbags market are Autoliv Inc. (Sweden), Takata Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), ZF Friedrichshafen AG (Germany), Ningbo Joyson (China), Nihon Plast Co., Ltd. (Japan), and Ashimori Industry Co., Ltd. (Japan).
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Latest Industry News:
Toyoda Gosei Minda India Pvt. Ltd., manufacturer of automobile components, optoelectronics, and other general industry products, has announced the opening of its new plant in Gujarat, India.
Honda Motor Company, Ltd., a Japanese public multinational conglomerate, has launched the New Honda Civic 2019 which is equipped with side curtain airbag system.
Scania AB, a major Swedish manufacturer of commercial vehicles, has partnered with GCC Olayan, a Saudi conglomerate, for the launch of new truck generation in Saudi Arabia. The new range of trucks also comes with the first rollover side curtain airbag.
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