Report: Demand for Knee Airbag Systems to Rise Through 2021
Jan. 27, 2017—The results of a study, conducted by Technavio market research analysts, released on Thursday, forecast the global automotive knee airbag systems market to grow at a compound annual growth rate (CAGR) of more than 9 percent from 2017-2021.
The market study covers the present scenario and growth prospects of the global automotive knee airbag systems market for 2017-2021. The report also offers a detailed analysis of the key vendors in the market along with a thorough examination of the emerging market trends which will influence the market during the forecast period.
Technavio automotive analysts highlight the following three drivers that are contributing to the growth of the global automotive knee airbag systems market:
- Increased fatality rate
- Developing automotive markets in emerging nations
- Vehicle ratings based on in-vehicle safety systems
Driver and passenger inflatable front airbag systems mounted on steering wheels and front panels can save passengers during front-end collisions, but these are ineffective in cases of a side impact. Knee airbag systems protect passengers during front-end collisions, rollovers, and side-impact accidents.
A research study conducted by the Insurance Institute for Highway Safety (IIHS) finds that around 8,500 people die annually because of side-impact car crashes in the U.S. This study supports Technavio’s findings that demand for advanced safety systems in automobiles, especially knee and curtain airbag systems, is increasing.