Global Automotive Knee Airbags Market: Soaring Demand Assures Motivated Revenue Share during 2017-2022|| Global Market players- Takata Corporation, Autoliv Inc., Daicel Corporation, Delphi Automotive Plc, Kolon Industries Inc., Denso Corporation
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With an increasing emphasis on safety features in vehicles, automotive manufacturers are installing airbags to minimize the injuries caused during an accident. Along with the front and side airbags, new models of cars are also providing knee airbags to prevent leg and knee injury in case of an accident. Manufacturers are also focusing on producing airbags using innovative materials and construction technique.
According to a study by FactMR, the Global Automotive Knee Airbags Market is expected to experience steady growth. The market is projected to reach US$ 182.5 million revenue by the end of 2022. Automobile manufacturers are deploying various in-vehicle safety features, among these, knee airbag is considered to be an important safety feature in a car. In-vehicle safety standards are also being introduced in various countries, along with this, increasing customer preference for vehicles with top safety ratings are some of the factors accelerating the global automotive knee airbags market.
Increasing Preference for Neoprene Coated Automotive Knee Airbags
Neoprene coated automotive knee airbags are expected to experience above-average growth during the forecast period, 2017-2022. Accounting for nearly three-fourth of the revenue share by 2017 end, neoprene coated automotive knee airbags are projected to create an incremental opportunity of over US$ 20 million during 2017-2022.
Nylon Automotive Knee Airbags to Gain Maximum Revenue Share
Towards the end of 2017, Nylon automotive knee airbags are expected to gain more than three-fourth of the revenue share. Meanwhile, automotive knee airbags made using polyester are also gaining popularity as polyester has a good dimensional stability in humid conditions.
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High Sales through OEM
Witnessing above-average growth, Original Equipment Manufacturers (OEM) will emerge as one of the most lucrative sales channels. By the end of 2022, OEMs are expected to bring in nearly US$ 160 million revenue. While sales through Aftermarket is also expected to experience steady growth.
Compact Passenger Cars to Account for Maximum Usage of Automotive Knee Airbags
Compact passenger cars are expected to be the largest users of automotive knee airbags. Compact passenger cars are estimated to reach nearly US$ 60 million revenues towards the end of 2022.
The report also profiles companies that are expected to remain active in the expansion of global automotive knee airbags market through 2022, which include Takata Corporation, Autoliv Inc., Daicel Corporation, Delphi Automotive Plc, Kolon Industries, Inc., Denso Corporation, Toray Industries, Inc., Hyundai Mobis Co. Ltd, ZF Friedrichshafen AG, and Toyoda Gosei Co., Ltd.
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FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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