Automotive Airbag Inflators Market size will shoot up to US$ 5.2 billion by 2023, as estimated by Stratview Research

Stratview Research in its recent report has offered an overlook of the current Automotive Airbag Inflators Market scenarios and has also estimated the Automotive Airbag Inflators Market size to reach US$ 5.2 billion by 2023. The insights highlighted in the report are based on data that is carefully collected from reliable sources and is then scrutinized to have a proper analysis.

Not only the report offers the market size but also details about the market segmentation with its share. Stratview Research also extends its research to offer a forecast of the market during the period of 2018 – 2023, to provide the clients with base knowledge of the market and make strategies to have beneficial results ahead.

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The global automotive airbag inflators market size is projected to reach US$ 5.2 billion in 2023. 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 driving 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.

Airbag inflator is that part of an automobile’s airbag inflator system which generates gas to inflate the airbags. 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. 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 air bag control unit. The igniter starts a rapid chemical reaction generating primarily nitrogen gas to inflate the air bag.

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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. The market for airbag has been growing at a higher pace than that of the automotive industry due to increasing awareness towards passenger safety. Both organic and inorganic growth routes are strategically being evaluated by the major players for a larger 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 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.

Check out the Table of Contents here:
https://www.stratviewresearch.com/toc/124/automotive-airbag-inflators-market.html

Highlights of the Report:

As per Stratview Research, North America is expected to remain the largest automotive exterior composites market during the forecast period. High penetration of composites coupled with healthy automotive production, especially in the USA and Mexico is chiefly driving the regional market. The USA is likely to maintain its dominance in the region during the forecast period, whereas Mexico will continue to register healthy growth in the same period, driven by its good policies attracting automakers to invest in the region.

Asia-Pacific is forecasted to witness the highest growth during the forecast period, driven by China, Japan, South Korea, and India. Despite weakening economic growth of China, the country is projected to remain one of the most attractive markets in the world in the coming five years. India, a relatively small market, is projected to witness monstrous growth in the coming five years backed by several government initiatives with an aim to boost the manufacturing sector.

Europe is expected to remain the second largest market in the coming five years, driven by Germany and France. Some Eastern countries are also likely to exhibit excellent growth in the coming years as these countries are drawing world’s interest by catching investment from global automakers.
The report also throws light on the Automotive Airbag Inflators Market share percentage, captured by specific key players in the industry; along with important mergers and acquisitions which have taken place till date.

Some of the key players mentioned the Automotive Airbag Inflators Market are Autoliv Inc., Takata Corporation, ZF TRW Automotive Holdings Corp., and Jinzhou Jinheng Automotive Safety System Co., Ltd.

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.

The automotive airbag inflator market analysis report discusses the following heads in great detail:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Know more about us and our reports:
Stratview Research has been offering its insightful reports and custom researches to the interested clients in some of important industry sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. The data is collected for the reports is collected from reliable sources and is analysed carefully to come up with an end result that is resourceful and worthy for the interesting clients.

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