Automotive Airbag Inflators Market estimated to grow at impressive CAGR in the forecast period (2018-2023)

Summary:
The report on the Automotive Airbag Inflators Market has been launched in April,2018 by Stratview Research is an all-inclusive report that talks about the market structure and growth in the forecast period of 2018-2023. The report also offers insights into different market segments and other factors affecting the market.

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Stratview Research’s report states about the segment-wise current market condition, and also offers an estimation about future growths. The report has been generated after accumulating data from various authenticated sources such as journals, white papers, fact book, etc. As per the estimation, Automotive Airbag Inflators Market is expected to inflate at impressive CAGR by the forecast period (2018– 2023).

As per the report, the market is segmented by:
• By Vehicle Type: Compact Car, Mid-Size Car, Large Car, MPV & LCV, SUV, Others
• By Airbag Type: Front Airbag, Side Airbag, Knee Airbag, Curtain Airbag
• By Inflator: Pyrotechnic Inflators, Stored Gas Inflators, Hybrid Inflators
• By Region: North America, Europe, Asia-Pacific, Rest of the World

The Table of Contents can be gone through here:
https://www.stratviewresearch.com/toc/124/automotive-airbag-inflators-market.html

Highlights of the Report:

The next five years for the automotive airbag inflators market are going to be vigorous with a plethora of opportunities for both existing as well as new players. Both organic and inorganic growth routes are strategically being evaluated by the major players for a large pie in the market. On one side, some of the major players are incessantly expanding their existing capacities of airbag inflators in order to meet the growing demand from both OE as well as replacement market, whereas on the other side, few major players are strategically performing M&A activities to quickly gain the leading position in the market.

The automotive airbag inflators market is projected to reach an estimated value of US$ 5.2 billion in 2023. Expected growth in automotive production, especially in Asia-Pacific and rest of the world; increasing awareness about the vehicle safety across the globe; introduction of more bags per car; and the introduction of more stringent passenger safety standards are the major factors burgeoning the demand for airbag inflators in the automotive industry. Faulty airbag inflators of Takata Corporation are further flaring up the demand for inflators in the replacement market.

An airbag is the most important safety device in an automobile. There are different types of airbags installed in an automobile, such as driver bags, passenger bags, side bags, curtain bags, knee bags, and roll-over bags. The market for airbag has been growing at a higher pace than that of the automotive industry due to increasing awareness towards passenger safety. The inflator is that part of an automobile’s airbag inflator system which generates gas to inflate the airbags. An inflator inflates the bag with gas in about 0.02 seconds, less than a blink of an eye. The functions of an airbag inflator are:
• Provide an adequate storage for inflation material
• Respond to the signal provided by sensors by injecting gas into the airbag in case of a collision or a crash.

During the collision, a signal is sent to the inflator unit within the airbag control unit. The igniter starts a rapid chemical reaction generating primarily nitrogen gas to inflate the airbag.

The global automotive airbag inflators market is segmented based on the vehicle type as Small Car, Mid-size Car, Large Car, MPV & LCV, SUV, and Others. Compact cars, SUVs, MPVs, and LCVs are expected to offer robust growth opportunities for airbag inflators in the global automotive industry in the coming years. Increasing demand for compact cars (hatchbacks) and SUVs in the major Asian countries, such as China and India, and highly congested cities of the developed economies are the major drivers of the demand for inflators in these vehicle types. The introduction of more stringent passenger safety standards further elevates the demand for airbags and their inflators in these vehicle types.

Based on the type of inflators, the global automotive airbag inflators market is segmented as Pyrotechnic Inflators, Stored Gas Inflators, and Hybrid Inflators. Pyrotechnic inflator is projected to remain the most dominant inflator type in the market during the forecast period, driven by its higher usage in frontal airbags. Hybrid inflators and stored gas inflators are likely to witness higher growth rates during the same period. Hybrid inflators offer numerous advantages over pyrotechnic inflators, such as a greater performance tailoring, lower exhaust gas temperature, reduced gaseous and airborne particulates, and greater bag fill capability.

In terms of region, Asia-Pacific is likely to surpass Europe to become the largest airbag inflators market during the forecast period. China, Japan, and South Korea are likely to remain the major markets for airbag inflators in the region, whereas India is likely to be the new growth engine of the growing region’s demand for airbag inflators. China is the world’s largest light vehicle manufacturer. With its CNAP (China’s New Car Assessment Program) initiatives, the Chinese government has mandated the usage of seatbelts and frontal airbags. The number of airbags in vehicles in China is expected to reach the same level as in Europe and the USA. This has been possible due to a lot of promotional initiatives taken by the government, such as advertisements and highway hoardings.

Europe and North America are also likely to generate favourable growth opportunities in the coming years. The overall penetration of airbags is comparatively very high in North America and Europe as compared to that of Asia-Pacific, owing to the stringent passenger safety standards.

Key Players of the Market
The market is consolidated in nature with five major players Autoliv Inc., Daicel Corporation, Takata Corporation, ZF TRW Automotive Holdings Corp., Key Safety Systems, Inc. holding together the major share in the market, with Autoliv Inc. being the key player.

Features of the Report
The Report discusses about the working of the airbag inflators, the various types, and the growth of the airbag inflators in the global market. Here are the key features of the report:
• Strategic Segmentation
• Competitive Analysis
• Strategic Growth Opportunities
• Swot Analysis
• Key Players
• Forecast Analysis & Future Growth

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Stratview Research
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Direct: +1-313-307-4176

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This release was published on openPR.