8:42 AM Automotive Airbag Fabric Market Size to reach US$ 2,311.5 million in 2024 |
| The automotive industry has been witnessing the most potentially disruptive decade with the advancements in several fronts including autonomous driving, connected vehicles, alternative fuel vehicles, lightweight vehicles, and blockchain. Passenger safety has been the focused area of the industry as several countries are implementing the stringent government regulations by mandating the airbags, especially in driver and passenger side. These trends are imprinting an overall positive sign on the demand for airbag fabrics.
Among all types of fabrics used in automobile, airbag fabrics represent the highest growth opportunities. Stratview Research estimates suggest that the next five years for the automotive airbag fabrics market are going to be vigorous with high-growth opportunities for the market participants. The market for airbag fabrics is estimated to reach an estimated US$ 2,311.5 million in 2024. The demand for airbags is proportional to the demand for vehicles; hence, influencing the demand for airbag fabrics as well. Increasing production of automobiles fueled by rising disposable income, increasing installation of airbags per car, the introduction of more stringent safety standards, and demand for low-cost fabrics are driving the airbag fabrics market in the automotive industry.
Click here to get a Free Sample of the report (with additional insights) Or Read the summary of the report here Automotive Airbag Fabric Market Insights: By Vehicle Type: The market is segmented based on the vehicle type as Car, C/SUV, Pickup, Van, MPV, and Sports Car. C/SUV is expected to remain the largest airbag fabric market over the next five years. The vehicle type (C/SUV) is also likely to witness the highest growth during the same period, fueled by the trend of the shift from sedans and hatchbacks towards SUVs. Spacious interiors and comfortable and satisfying driving experience have generated a sheer interest for SUVs in the past few years. By Airbag Type: The market is segmented based on the airbag type as Driver Airbag, Passenger Airbag, Side Airbag, Curtain Airbag, and Others. Curtain airbag has been the largest consumer of airbag fabrics in the automotive industry. This airbag type is also likely to witness the highest growth during the forecast period. An increase in penetration of curtain airbags in vehicles coupled with the increasing share of SUVs in light vehicles production is leading to the higher growth of curtain airbags in the market. There have been developments in airbags, another factor stimulating the demand for it int the market. For instance, in June 2019, ZF Friedrichshafen AG, a leading vehicle safety technology company, developed the world’s first pre-crash occupant safety system with an external side airbag, which has a capacity between 280 and 400 liters (five to eight times the volume of a driver airbag). By Yarn Type: Based on the yarn type, the market is segmented as Polyamide Yarn and Polyester Yarn. Polyamide 6.6 is the most widely used yarn for making airbag fabrics and is likely to remain the most dominant yarn type in the market. However, polyester yarn is expected to grow at a faster rate over the next five years, owing to its lower cost and increasing adoption in the knee and curtain airbags, mainly in the USA and Europe. By Region: In terms of region, Asia-Pacific has been the largest market for airbag fabrics, primarily propelled by China, Japan, South Korea, and India. China and India are the growth engines of the Asia-Pacific market due to a continuous increase in the demand for vehicles and the introduction of stringent safety standards. North America and Europe are also the major markets and are anticipated to generate considerable demand for airbag fabrics in the coming five years. The USA and Mexico are the major markets in North America, whereas Germany, France, the UK, and Russia are the major markets in Europe. The fitment rate of airbags in Europe is higher than in North America and Asia-Pacific. Click below to run through the detailed ToC of the report Features of the Report This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. Based on the research, a proper report is crafted with the following key features:
Click here for other high value market reports from Stratview Research in the Automotive Industry About Stratview Research Stratview Research is a global market intelligence firm providing wide range of services including syndicated market reports, custom research and sourcing intelligence across industries, such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. We have a strong team of industry veterans and analysts with an extensive experience in executing custom research projects for mid-sized to Fortune 500 companies, in the areas of Market Assessment, Opportunity Screening, Competitive Intelligence, Due Diligence, Target Screening, Market Entry Strategy, Go to Market Strategy, and Voice of Customer studies. Stratview Research is a trusted brand globally, providing high quality research and strategic insights that help companies worldwide in effective decision making. For enquiries, Contact: Stratview Research E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176 |
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