According to reports and data research conducted by Market Research Future, in 2017, the global market for automotive curtain airbags stood at USD 3,234.1 Mn and is likely to surpass the USD 4,000 Mn mark by the year 2023, especially after economic lockdown due to Coronavirus pandemic worldwide. The growth of the market would take place during the years from 2017 to 2023.
ZF Friedrichshafen AG (Germany), Autoliv Inc. (Sweden), Toyoda Gosei Co., Ltd. (Japan), Takata Corporation (Japan), Ashimori Industry Co., Ltd. (Japan), Ningbo Joyson (China), and Nihon Plast Co., Ltd. (Japan) are the leading market players that contributein current market share.
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Notable Developments
Automotive curtain airbags sales are progressively influenced by the surging emphasis on safety among the passengers and automakers alike, which has led the integration of improved technology to decrease the risk of accidents & injuries. In an endeavour to implement a flexible transportation system embedded with security, the automotive manufacturers are uniting the automotive curtain airbags in vehicles. This factor is giving the market a notable hike and would rise at a higher pace during the predetermined period.
Uncertainty of accidents caused by the result of wear and tear of the vehicle, sophisticated designs of the vehicle and frictional resistance continue to motivate the growth of the automotive curtain airbags market. Attributed to such factors, demand for automotive curtain airbags is anticipated to surge in the automotive industry globally.
Besides the automotive industry, the automotive curtain airbags market also observes significant opportunities in the healthcare industry. During an unexpected accident, the automotive curtain airbags protect the heads and the necks of the patients. The ambulance manufacturers continue to integrate the roll sensors in the ambulance, which permits the system to arrange protection during an unexpected accident, thereby driving automotive curtain airbags sales.
In fact, the government in various countries are progressively imposing regulations regarding the safety facilities in the automotive industry. Bound to imposition of government regulations, manufacturers are speedily installing devices for the safety of the passengers. This has directly predisposed growth of the automotive curtain airbags market.
Segmentation of Market
The scope of the study of global automotive curtain airbags market have been included segments such as Yarn Type, application, sales channel, coating type, and vehicle type.
In terms of yarn type segment, the market has included nylon and polyester.
In terms of application, the market has included head curtain airbags, torso curtain airbags and combo curtain airbags.
In terms of sales channel, the market has included OEM and aftermarket.
In terms of coating type segment, the market has included non-coated, silicone coating, neoprene coated and others.
In terms of vehicle type, the market has included SUV and crossovers premium vehicles, commercial vehicles and hatchbacks and sedans.
Regional Front
Europe has been the largest market for curtain airbags and is anticipated to record a CAGR of over 4.5% throughout the assessment period. With the growing consumer acceptance, advancement in technology, and lower prices, the market for curtain airbags has been observing a boost of growth in the region. Germany is the largest automotive hub in Europe, and it is a strategically essential market for curtain airbags. Germany boasts of 41 automotive assembly plants, and thus, experiences amplified demand for curtain airbags. Other prime contributors to the European market are France, Russia, Spain, and Italy.
Asia-Pacific is the fastest-growing market for automotive curtain airbags and stores potential escalation opportunities for market extension. The growth in disposable income of consumers in the emerging economies, such as China and India, has been hopeful of indulging in high-end cars that have curtain bags. The elevated adoption rate of passive safety systems and the fast growth of the automotive industry support the expansion of the market studied in China.
Research Methodology
Market Research Future (MRFR) employs innovative statistical algorithms for gathering impactful market insights that can drive business decisions. An in-depth analysis of constantly evolving market trends combined with a study of historical data is leveraged for providing accurate competitive intelligence. The statistical observations made in our reports are backed by data procured through extensive primary and secondary research which include interviews with stakeholders, SEC filings, whitepaper references, annual reports of key players, etc. Top-down and bottom-up approaches are employed for authenticating the credibility of the market foresight delivered. A multi-layer verification process reaffirms the market size and revenue estimation. MRFR strives to provide reliable and transparent information that helps clients in developing growth strategies.
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