Automotive Airbag Inflator Market Is Projected to Bring in USD 5.10 Bn Revenues by 2021
Global Automotive Airbag Inflator Market Poised To Reach USD 5.10 Billion By 2021
Sarasota, FL -- (SBWire) -- 09/08/2017 --Zion Market Research has published a new report titled "Automotive Airbag Inflator Market by Inflators Type (Pyrotechnic, Stored Gas, and Hybrid) by Airbag Type (Front Airbag, Side Airbag, Knee Airbag, Curtain Airbag and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015-2021". 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.
An airbag is a type of vehicle safety device generally fitted in between front seats. The airbag is an occupant restraint system. Airbags are. A car which is called as having a "driver's side airbag" has one airbag only, designed for the safety of the driver. If a car said to be "dual airbags", it has one airbag for the driver and another air for the passenger.
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Prioritizing more on customer safety and comfort coupled with rising regulatory requirements regarding vehicle safety and raising awareness about vehicle safety across the globe are some of contributing factors expected to boost the market growth in coming years. Furthermore, increasing penetration of side-impact and curtain airbags, increased vehicles production, the introduction of more bags per car are the major factors drives the growth of automotive airbag inflator market. On a contrary, the durability of the cheap airbag may hamper the growth of automotive airbag inflator market in the coming years. Nonetheless, deployment of airbags in low-cost cars coupled with technological advancement in the product is likely to disclose new avenues for automotive airbag inflator market in the near future.
On the basis of inflator's type, the pyrotechnic type is expected to dominate the market over the forecast period due to efforts from key players such as TRW Automotive and Autoliv. A hybrid type of inflator is also expected to show significant growth opportunities in European and North America regions due to performance tailoring/tuning capability. Stored gas type of inflators is also expected to experience noticeable growth in near future.
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Rising safety awareness, ongoing technological advancement, and investment by industry leaders are expected the boost the demand for various types of airbags installed in an automobile. Front airbag, side airbag, knee airbag and curtain airbag are different types of the airbag. Front airbag emerged as the largest segment by Airbag type and is expected to maintain this trend during the forecast period.
With the largest share, Europe was a leading regional market for automotive airbag inflator in 2015 due to government initiative towards passenger's safety. Asia Pacific is considered to be the fastest growing market in coming years due to the presence of huge automotive hubs in China and India. Government initiative paired with awareness about safety is expected to drive a market for airbag inflator in North America region.
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Major participants in the automotive airbag inflator space include Diacel, Takata, ZF TRW, Toyodo Gosei, Autoliv, and Key Safety Systems amongst others.
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