Safety standard regulations are driving the automotive airbag market growth across the world as governments and customers not only become aware, but start preferring safety norms over pure price points. Selected countries, specifically developing ones, had limited usage of curtain airbags to above premium and luxury segments of passenger cars. However, with rising importance and aware about crash test ratings of vehicles easily accessible on the web, countries and companies, alike, have started offering and accepting usage of airbags as standard market demand.
With R&D giving some pricing benefits to airbag market manufacturers, the players have some breather when it comes to this high-cost and strict-margin products’ growth forecasts. Asia Pacific region, with its growing automobile industry, is projected to lead the growth of demand in global airbag market including airbag fabric market. Technology is helping airbag manufacturers differentiate themselves based on quality and reliability to have a positive competitive scenario in the industry. With developed economies getting stringent on frontal airbags’ usage and developing ones focusing on overall airbag usage, the growth is said to remain consistent for the next few years. Asian countries with their focus on infrastructure are going to demand huge inventory from the automobile industry, which directly helps the airbag market grow.
Small cars and front airbags are going to be sectoral growth leads in airbag market. Technological advancements in fabric and related airbag products are helping in reduction of cushion weight and hence foldability. On the other hand, technology is posing challenges for the airbag market via increasingly acceptable trends of driverless cars, GPS accuracy and sensors that help avoid or limit a crash. Companies like Toray, Toyobo, Kolon, Porcher, Teijin, Dual, Hyosung, Takata, Key Safety Systems, Safety Components, UTT, Milliken and HMT (Xiamen) New Technical Materials are active in the airbag fabric market. OEMs have started targeting cheap labor and raw material sources in APAC giving the region a boost in global airbag market growth.
eMarketOrg.com has a range of reports on the airbag market, which can be explored at http://emarketorg.com/?s=airbag&post_type=product .