(MENAFN - Market Research HUB) Growing demand for security devices in vehicles has led to an upsurge in demand for the airbags in the automotive industry globally. In addition, government in various countries have imposed regulations regarding security devices in the automotive industry. These factors are expected to contribute towards growth of the global automotive curtain airbag market positively. A recently compiled report by Fact.MR reveals that the global market of automotive curtain airbag is projected to register a CAGR of 5.5% over the forecast period, 2017-2022.
Factors Fuelling Growth of the Global Market
Growth of the global market of automotive curtain airbag is bound to several macro and micro economic factors. Demand for strong automotive curtain airbags is mainly concentrated in the transportation, automotive and healthcare industry. Frictional resistance, wear and tear of the vehicles, and complex design of the vehicles result in the unexpected accidents globally. Attributed to unexpected accidents, the passengers could injure their necks and knees. Manufacturers prefer coating the airbags integrated in the vehicles with neoprene coating to ensure that the security devices are strong and resistant to heat. The automotive curtain airbag will continue to witness considerable adoption attributed to increasing demand for security devices in the vehicles.
Moreover, government in several countries have imposed legislations regarding the security devices in the vehicles. As the government has imposed legislations regarding the security devices in the automotive industry, manufacturers are integrating advanced features in order to ensure security of the passengers during an unexpected accident.
With surge in technological development, consumers prefer opting for automotive that are integrated with devices that ensure the safety and security of the passengers. Vehicles equipped with security devices offer secure, and flexible transportation system to the customers. These factors are likely to contribute towards growth of the global market of automotive curtain airbag positively.
Neoprene to Represent a Dominant Segment
Increasing demand for curtain airbags that are strong and resistant to ozone, oil, chemicals, and heat has led the manufacturers to coat airbags with neoprene. Sales of neoprene airbags is likely to remain high as compared to the other types of coating in the global market. Currently, the neoprene coat type segment is projected to represent around US$ 50 Mn by 2022-end.
Nylon is projected to represent a significant revenue growth as compared to other yarns available in the global market. The nylon yarn type segment is projected to represent more than US$ 40 Mn in the global market by 2017-end. The nylon segment is projected to reflect a relatively high CAGR in the global market of automotive curtain airbag through 2022.
By sales channel, sales of the automotive curtain airbags is projected to remain high through the OEM sales channel. The OEM segment is projected to represent more than US$ 50 Mn by 2017-end. However, sales of automotive curtain airbags continue to witness relatively faster growth through the aftermarket channel globally.
Mid-sized passenger cars is likely to sell more than the other vehicle in the global automotive curtain airbag market. The mid-sized passenger cars vehicle type segment is projected to represent around US$ 15 Mn by 2022-end. On the other hand, the compact passenger car is projected to reflect a relatively high CAGR in the global market through 2022.
Major players in the global market of automotive curtain airbag are Takata Corporation, Autoliv, Inc., Denso Corporation, Daicel Corporation, Toyoda Gosei Co. Ltd., Hyundai Mobis Co. Ltd., Kolon Industries, Inc., ZF Friedrichshafen AG, Delphi Automotive PLC, and Toray Industries, Inc.
For more insights, Visit- https://www.factmr.com/report/273/automotive-curtain-airbag-market