Consisting of sensors, inflators, and airbags, knee airbags comprise one of the most widely adopted safety features aligning with the needs of automotive safety. Besides integration along driver seat, knee airbags are also being integrated along passengers' sides to ensure occupant safety. Surged demands for passenger vehicles and car rentals in the light of increased shared rides are estimated to reflect substantial growth. Soaring incidences of road accidents often resulting in fatality is accounted to chiefly drive adoption upsurge in subsequent years. The trend is likely to be supplemented by government initiatives towards deploying adequate safety precautions to limit severe injury and fatality during road mishaps.
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Asia-Pacific has emerged as one of the most lucrative regional belts for automotive production. On the back of increased urbanization as well as exponentially growing population, the automotive industry in Asia-pacific region is likely to register massive growth, thereby reciprocating growth prospects in automotive knee airbag market. The surged demands for automotive knee airbags is also attributed to premiumization of cars and growing demands for luxury cars. However, notable adoption rates in budget variants is also a definitive growth trigger.
Besides traditional neopropene based airbags, silicone coated knee airbags have gained massive adoption owing to its superlative attributes such as good adhesion on synthetic substrates, besides demonstrating improved thermal resistance. Consumer preferences for light-weight airbags with superlative capabilities have encouraged adoption of silicone as apt substitutes for neopropene.
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Highlights on Global Automotive Knee Airbags Market
- Europe is expected to be the largest market for automotive knee airbags during the forecast period, 2017-2022. Europe automotive knee airbags market is estimated to reach just over US$ 50 million revenue by the end of 2022.
- North America is expected to be the second most lucrative market in automotive knee airbags. Owing to the imposition of various in-vehicle safety standards by the government and race among automotive manufacturers to earn top safety ratings is boosting the automotive knee airbags market in North America.
- Neoprene coated automotive knee airbags are expected to account for nearly three-fourth of the revenue share by the end of 2017. Neoprene coated automotive knee airbags are projected to surpass US$ 100 million revenues towards the end of 2022. Meanwhile, silicone coated automotive knee airbags are also expected to witness robust growth during the forecast period.
Automotive Knee Airbags Market: Competition Landscape
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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