Sarasota, FL -- (SBWIRE) -- 11/01/2017 -- According to the report, global automotive airbag inflator market was valued at USD 4.04 billion in 2015 and is expected to reach USD 5.10 billion in 2021, growing at a CAGR of 4.0% between 2016 and 2021.
The airbag is a device which looks like the balloon and expands when a car experiences a collision. It provides a cushion of air which prevents a person bashing their face on the dashboard. The initiator used to light solid propellant inside the airbag inflator. The burning propellant generates inert gas which rapidly inflates the airbag approximately in 20 to 30 milliseconds.
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The introduction of more bags per car, increasing penetration of side-impact and curtain airbags, increased vehicles production are the major factors which drive the growth of automotive airbag inflator market. In addition, prioritizing more on customer safety and comfort paired with rising regulatory requirements regarding vehicle safety and awareness about vehicle safety across the globe are some contributing factors expected to boost the market growth in coming years. On the other hand, the durability of the cheap airbag may restrict the growth of automotive airbag inflator market in the coming years. Nonetheless, increasing awareness towards passenger safety coupled with the deployment of airbags in low-cost cars is likely to disclose new avenues for automotive airbag inflator market in the near future.
Based on inflator's type, the global automotive airbag inflator market is bifurcated into pyrotechnic, stored gas and hybrid. Pyrotechnic type of inflators is emerged as a leading type segment owing to light weight and size advantages. A hybrid type of inflator type is expected to show remarkable growth in coming years.
Front airbag, side airbag, knee airbag, curtain airbag and others are the key airbag type segment of this market. Technology advancement has led this type to grow significantly. Light commercial vehicles, compact cars, and MPVs are expected to offer a significant growth opportunity for airbag inflators in the near future.
Europe emerged as the dominating regional market for automotive airbag inflators in 2015 owing to strong regulations for adopting airbag safety systems in each passenger car by governments in Europe. Asia Pacific is expected to be a fastest growing market for airbag inflators in coming years due to the presence of emerging economies such as China and India paired with increased vehicles production. High awareness along with government initiative at the major driving factors expected to boost the demand of airbag inflator in North America. U.S. is expected to be a most promising market in North America.
Major participants in the automotive airbag inflator space include Toyodo Gosei, Autoliv, Takata, ZF TRW and Key Safety Systems amongst others.
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