NEW YORK, April 11, 2016 /PRNewswire/ -- The automotive airbag market is valued at $13.75 billion by the end of 2015. 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 is expected to exceed 65% in both North America and Europe by the end of 2017, driven by the mandate of the federal law in these regions.
In the effort to develop safer cars, OEMs are keen on providing airbags for additional safety. A recent and trendy innovation is the usage of the curtain airbags, which has proven to be valuable as well as handy. Increased emphasis on safety by the OEMs coupled with the growing pressure from regulatory bodies are helping to drive the growth of this market. Curtain airbags are effective in reducing the impact of side-crashes. The significant reduction in the cost of these airbags have resulted to a greater adoption among the high volume mid-segment vehicles. Curtain airbags has earned significantly higher safety ratings for passenger cars and minivans as well. OEMs are finding different ways to adopt side curtain technology for niche applications, especially for commercial vehicles and SUVs, which are vulnerable to higher degree of risk and safety concerns. Drivers of convertibles and SUVs, currently relish the benefits of side curtain protection and rollover-specific security vulnerable for these vehicles. In addition, curtain airbags are equally useful with the growing popularity of subcompacts. Further, the increasing demand of micro cars, which would use curtain airbags to protect the passengers' necks, would help in driving the need of 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 which are comparatively less effective than curtain airbags in rollover crashes. Unlike the driver airbags which come as standard in many cars, they do not provide protection in a side impact crash. The market is segmented on the basis of vehicle types, technology type and geographies. Europe is expected to constitute the bulk of the market share with more than 28% of the geography. Autoliv, Takata, Delphi, TRW are some of the leading vendors in this market
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