Global Automotive Curtain Airbags Market - Segmented by Application, End-User, Vehicle Type, and Geography - Growth, Trends, and Forecast (2018 - 2023)
The global automotive airbags market is estimated to be valued at USD 13.75 billion by the end of 2017. The market is expected to grow at a CAGR of 18.25% during the forecast period. The installation rates of curtain airbags in new vehicles are expected to exceed 65% in both North America and Europe by the end of 2018, driven by more stringent regulations in these regions.
In an effort to develop safer cars, OEMs are providing airbags for additional safety. A recent innovation is the use of curtain airbags that have proven to be very valuable in the event of an accident. Increased emphasis on safety by the OEMs coupled with the growing pressure from regulatory bodies is helping to drive the growth of this market. Curtain airbags are effective in reducing the impact of side collisions.
Safety concerns to fuel market growth
The significant reduction in the cost of these airbags has resulted in greater adoption among the high volume mid-segment vehicles. Vehicles equipped with curtain airbags have earned significantly higher safety ratings. OEMs are finding different ways to adopt side curtain technology for niche applications, especially for commercial vehicles and SUVs that are vulnerable to a higher degree of risk and safety concerns. Drivers of convertibles and SUVs currently relish the benefits of side curtain protection and rollover-specific security for these vehicles. In addition, curtain airbags are equally useful in light of the growing popularity of subcompacts. Furthermore, the increasing demand for micro cars that use curtain airbags to protect the passengers' necks will help in driving the need for curtain airbags. If curtain airbags prove effective for rear collisions, they could be instrumental in helping improve public perception of small and efficient cars.
Curtain airbags are side airbags for head protection. There are other kinds too, such as combination head and torso designs that are comparatively less effective than curtain airbags in rollover crashes. Although the driver airbags come standard in many cars, they do not provide protection in a side impact crash.
The market is segmented by vehicle type, technology type, and geography. Europe is expected to constitute the bulk of the market share with more than 28% share.
Major market players: AUTOLIV, CONTINENTAL, DELPHI, NEATON, TAKATA, TRW amongst others.
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