ID: MRFR/AM/3237-CR | 100 Pages | Author: Swapnil Palwe | August 2018
The Global Automotive Curtain Airbags Market Size is expected to cross USD 4.6 Billion by 2027 at a CAGR of 4% during the forecast period ending in 2027
The automotive curtain airbags market is anticipated to register a CAGR of over 4% in 2022-2030.
Nearly a decade ago, the concept related to the use of airbag systems was mainly deployed in the luxury segment of vehicles. Currently, the situation has entirely changed due to the increasing pressure from regulatory bodies, intense competition in the market, and consumers' concerns about safety.
In the United States, the National Highway Traffic Safety Administration (NHTSA) introduced new regulations for adopting side and curtain airbags, mandated for all vehicles by the end of 2019. Additionally, many automobile manufacturers have been investing significantly in research and development to manufacture cheap and advanced airbag inflators, to meet the increasing demand for side and curtain airbag systems. Vehicle manufacturers have been offering more airbags in cars, due to which the usage of airbags has jumped up to three times in the last three to four years. Almost every new car that has been launched and made it to the global market in the last couple of years has at least one airbag (driver side), while some also have curtain airbags, especially in developing countries. There has been an increase in the number of road accidents that has led to the mandatory installation of airbags by the OEMs. Also, increased awareness among people and technological advancements is expected to create a demand for curtain airbags over the forecast period.
The COVID-19 outbreak has caused significant disruption in the automotive industry. It has resulted in the suspension of manufacturing facilities and a decline in sales volume. Furthermore, the demand for commercial and passenger vehicles is expected to decline in 2020. This expected decline will hurt the automotive curtain airbags market, as vehicle production is directly proportional to the automotive curtain airbags market. The budget for R&D is likely to be reduced, which will hamper the development of automotive curtain airbags.
There has been a steady increase in consumer awareness regarding safety, a surge in disposable income, and road accident rates. This drives the growth of the global automotive curtain airbags market. The global automotive curtain airbags market is witnessing the rise of high maintenance and operating cost, high replacement cost, and fluctuation in component prices hinder the growth of the global automotive curtain airbags market. However, the growth of the automotive industry and stringent government regulations for passenger safety provide lucrative opportunities for the growth of the global automotive curtain airbags market.
The automotive industry has experienced its most disruptive decade with the development of autonomous driving, connected cars, alternative fuel vehicles, light vehicles, and blockchain. Passenger safety has always been a priority in the industry, with some countries enforcing strict government regulations by mandating airbags, particularly on the driver and passenger sides. These trends help in the increase in demand for curtain airbags. Automotive curtain airbags are the side airbags that protect the head of the occupant in case of an accident. When such accidents occur, such airbags work as a cushion between the occupant and the window. Nearly ten years ago, such airbags were mainly used in luxury vehicles like SUVs and vans. However, the situation has changed entirely due to the increase in pressure from regulatory agencies, fierce market competition, continuous improvement of the safety standards of various types of vehicles, and consumers increasing safety concerns. These pressures have exacerbated the long-standing importance of automakers to include airbag systems in every car, regardless of its size and market segment, like sports vehicles. The increased use of curtain airbags in sports utility vehicles is expected to boost the overall automotive curtain airbags market growth during the forecast period.
The automotive curtain airbags market is expected to make it big during the ongoing forecast period of 2027. However, the opportunities for growth and expansion in the market are likely to be challenged due to restraints like the unavailability of funding and labor for the market functions. Also, the global market is witnessing a lack of reliable market sources that will hamper the market growth.
Curtain airbags have been placed at the front pillars, roof sides, and rear pillars. It employs simultaneously with the side airbag to protect the driver's or passenger's head, and it minimizes injury in the event of a side collision. Curtain airbags have been deployed in SUVs and Vans compared to other vehicle types. However, with the growing safety standards across all vehicle types, curtain airbags are likely to see growth in the market studied during the forecast period, owing to their increasing adoption of mini-cars to heavy-duty trucks in the coming years. The imposition of federal regulations on side-impact protection requires a certain level of head and torso protection for all occupants. While it does not explicitly mandate side airbags, the required protection is typically achieved with them.
Side impact crashes at intersections account for approximately 22% of all significant crashes where people are killed or seriously injured. The availability of curtain airbags on a wider scale has increased significantly. The number of new vehicles sold in Victoria with curtain airbags has risen from 24% in 2006 to 64% in early 2011.
The automotive curtain airbags market has been segmented to meet the rising needs of the global target audience spread in various locations across the globe. The market has been segmented based on the availability of the market resources, funding, and other aspects like the ingredients for production and the location of the key market players. The segments are as follows:
Europe is the largest market for curtain airbags and is expected to register a CAGR of over 4.5% during the forecast period. With the growing consumer acceptance, advancement in technology, and lower prices, the market for curtain airbags have been witnessing a boost of growth in the region. The German region is the largest automotive hub in Europe, and it is a strategically important market for the automotive curtain airbags market. Germany boasts 41 automotive assembly plants, and thus, experiences augmented demand for curtain airbags. Other key contributors to the European market include countries like France, Russia, Spain, and Italy.
The Asian Pacific region is emerging as the fastest-growing market for automotive curtain airbags and stores potential growth opportunities for market expansion. The rise in disposable income of consumers in emerging economies, such as China and India, has been encouraging them to indulge in high-end cars that have curtain bags.
These key automotive curtain airbags market companies have been expanding their business with innovative and better quality curtain airbags to have the edge over their competitors.
A study of crashes in the Australian region had found that side airbags with head and torso protection reduce a car driver's risk of death or injury in driver-side crashes by 41%. Similar trends were found in an NHTSA study, which focused on the fatality risk to drivers and right-front-seat passenger vehicles involved in nearside crashes. Curtain airbags and torso airbags, as prominent market ingredients reduce the risk of death by 31%, and the combination head or torso airbags reduce the risk by 25%.
In January 2019, another global market company - Continental AG had announced to expand its business in an Indian plant in Bengaluru to develop airbag control units, which have been designed on a modular safety platform called SPEED which stands for Safety Platform for Efficient & Economical Design that matches all market requirements.
In July 2017, one of the prominent market players - Toyoda Gosei Co. Ltd jointly developed a new side airbag with Toyota Motor Corporation, which has been attributed to vehicle crash safety assessment conformity in each region of the world and can be shared by various vehicle models. For instance, it is used on the new Toyota Camry in the market and is scheduled for future use on about 2.5 million vehicles annually, including other models.
The automotive curtain airbags market covers the increasing adoption of curtain airbags in both passenger cars and commercial vehicles, the impact of government regulations on manufacturers, initiatives are taken by the government to boost curtain airbag adoption, new product developments, and the competitive landscape of players operating in the market studied.
|Market Size 2027||USD ~4.6 Billion|
|Market Size 2030||Significant value|
|CAGR||4% CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Technology, By End Market, By Application, By Vehicle type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), Takata Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), Ningbo Joyson (China), Ashimori Industry Co., Ltd. (Japan), Nihon Plast Co., Ltd. (Japan)|
|Key Market Opportunities||Automotive safety segment|
|Key Market Drivers||Premium vehicles Commercial vehicles.|
The global market is expected to grow at a CAGR of 4%.
Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), Takata Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), Ningbo Joyson (China), Ashimori Industry Co., Ltd. (Japan), Nihon Plast Co., Ltd. (Japan)
The European region is likely to emerge as the largest market
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