The global automotive curtain airbags market to grow at a CAGR of 6.60% during the period 2017-2021.
Global Automotive Curtain Airbags Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is growing number of fatalities leading to adoption of automotive curtain airbags. The growing number of road accidents causing severe injuries and fatalities has been a major reason for the wider adoption of automotive curtain airbags. Curtain airbags have been successful in reducing fatalities, especially in rollover and side-collision. For instance, around 8,500 people die annually in side-impact car crashes in the US. The fatalities would be much higher in the regions where there is low penetration of curtain airbags.
According to the report, one driver in the market is growing use of passive safety systems such as airbags as a product differentiator in emerging countries. Over the past few years, the economic slowdown has created a volatile demand for automobiles in developed countries. However, emerging markets have witnessed a robust growth in automobile sales due to the ideal population demographics, strong economic growth, and elevated purchasing power. The high purchasing power and strong economic growth are also creating a robust market for luxury and premium vehicles in these regions. Such developments are expected to propel the market growth for automobiles. Although various regulations enforce the use of passive safety systems as standard fitment, many OEMs have started marketing their vehicles based on safety features.
Further, the report states that one challenge in the market is high costs associated with curtain airbag, restricting it to developed markets. The high costs associated with the procurement and maintenance of airbags have increased the price of the vehicle and thus limited its use to developed markets. Although OEMs provide frontal airbags due to stringent safety norms, they are reluctant to equip their vehicles with curtain airbags, especially in emerging nations, as it will significantly increase the price of the vehicle. Consumers in emerging nations are price sensitive, and hence OEMs refrain from equipping their vehicles with curtain airbags. In addition, OEMs are facing cost pressures due to changing regulatory environment. The growing focus on enhancing the safety standards is leading OEMs to comply with the regulation, without transferring the additional costs to the consumer.
- Key Safety Systems
Other prominent vendors
- Hyundai Mobis
- Ningbo Joyson Electronic
- Nihon Plast
- Toyoda Gosei
Key Topics Covered:
Part 01: Executive Summary
Part 02: Scope Of The Report
Part 03: Research Methodology
Part 04: Introduction
Part 05: Market Landscape
Part 06: Market Segmentation By Application
Part 07: Geographical Segmentation
Part 08: Decision Framework
Part 09: Drivers And Challenges
Part 10: Market Trends
Part 11: Vendor Landscape
Part 12: Key Vendor Analysis
Part 13: Appendix
For more information about this report visit https://www.researchandmarkets.com/research/hd7n79/global_automotive?w=5
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