10:21 AM Automotive Airbag Inflators Market Size to reach US$ 5.2 billion by 2023 |
Automotive airbag inflator market is projected to reach US$ 5.2 billion in 2023, according to a newly added report by Stratview Research. 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. The report offers detailed insights in relevant market segments, their growth rates, latest market trends, forecasts, and other important details. The market has been segmented in four ways and the report has more than 150 figures and tables providing the most comprehensive information about the market segments and their growth prospects for the forecast period of 2018-2023.
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As per the report, among different vehicle types, Compact cars, SUVs, MPVs, and LCVs are expected to offer robust growth opportunities for airbag inflators 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. View the Table of Contents here https://www.stratviewresearch.com/toc/124/automotive-airbag-inflators-market.html
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 favorable 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.
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The report further mentions about the key manufacturing players Autoliv Inc., Takata Corporation, ZF TRW Automotive Holdings Corp., and Jinzhou Jinheng Automotive Safety System Co., Ltd. who are emerging fast and their roles in the growing market. It also portraits the important mergers, acquisitions, and other current happenings in the automotive airbag inflator market that can be helpful for the interested clients in analysing the market and taking right decisions accordingly.
Salient Features of the Report The report on automotive airbag inflator market is a well-researched work after analysing of various data from different reliable sources. The report included some of the salient features such as:
About Stratview Research: Stratview Research is a global research company offering custom research and marker research reports for interested client in different sectors such as Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Healthcare & Life Sciences, and Oil & Gas. All the reports generated are based on proper data collected from reliable sources and are scrutinized carefully before releasing so that the interested clients and companies can make the most out of it. For inquiries, Contact: Ritesh Gandecha Stratview Research E-mail: sales@stratviewresearch.com Direct: +1-313-307-4176
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