Analysis of Automotive Knee Airbags market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Automotive knee airbags market is expected to experience above-average growth, registering 5.8% CAGR during the forecast period, 2017-2022.
Automotive knee airbags play an important role in passenger safety during a collision. Knee airbags are located below the steering on driver’s side and below the glove box on passenger side.
Knee airbags protect against leg injuries, keeping the occupant in a proper position. Automotive manufacturers are installing airbags to protect passengers from severe injuries and to gain top safety ratings during the crash test program.
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 Fact.MR, 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.
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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.
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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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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 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
(Additional information, including cross-sectional data and country-wise analysis & forecast is available in the report)
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Europe is expected to be the largest market for automotive knee airbags during the forecast period. Europe automotive knee airbags market is estimated to reach just over US$ 50 million revenue by the end of 2022.
Neoprene coated automotive knee airbags are expected to account for nearly three-fourth of the revenue share. Neoprene coated automotive knee airbags are projected to surpass US$ 100 million revenues towards the end of 2022.
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