Automotive Airbag Inflators Market set to grow US$ 5.2 billion by 2023
March 02, 2020
Automotive Airbag Inflators Market Overview:
Automotive airbag inflators market is projected to reach US$ 5.2 billion in 2023.
The airbag inflator market is driven by a host of drivers, some of which are noted below.
- 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
- Introduction of more stringent passenger safety standards
Apart from the above drivers, the 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.
The Diverse Stand Points:
The true picture of the market shall not emerge till the time the market is analysed from various point of views. Each vantage point gives better understanding of the market. The market of Automotive Airbag Inflators has been viewed from various perspectives such as:
- 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 Type (Pyrotechnic Inflators, Stored Gas Inflators, Hybrid Inflators)
- By Region (North America, Europe, Asia-Pacific, and RoW)
Each view helps us answer a prominent question, and we bring out the best market intelligence which is of interest to each and every player in the market, no matter where he lies in the value chain.
The answers to the prominent questions which are evinced out of above slicing of the market are:
- Which are the best performing segments of the market?
- Which is the most dominant region?
- Who are the movers and shakers of the market?
- What are the regional growth hotspots?
- What are the segmental growth forecasts?
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Automotive Airbag Inflators Market Segment Insights:
Compact Car: The growth engine
The airbag inflator 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 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.
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Dominance of: Pyrotechnic Inflator
Based on the type of inflators, the airbag inflator 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.
A highly/moderately/fragment consolidated Market
Some of the airbag manufacturers are Autoliv Inc., ZF TRW Automotive Holdings Corp., and Jinzhou Jinheng Automotive Safety System Co., Ltd. The major automotive OEMs are General Motors Company, BMW, Toyota Motor Corporation, and Ford Motor Company. Most of the airbag manufacturers manufacture inflators as well. The key airbag inflator suppliers in the automotive industry are Autoliv Inc., ZF TRW Automotive Holdings Corp., Daicel Corporation, Key Safety Systems, Inc., and Toyoda Gosei Co., Ltd.
Regional Hegemony of Asia-Pacific
Asia-Pacific is likely to surpass Europe to become the largest market for airbag inflators 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.
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Salient Features of the Report
The Research Report offers an in-depth view of the market, its health and growth, the factors shaping the industry, the competitive dynamics and a glimpse of the future.
The following are the key features of the report:
- Strategic segmentation
- Market analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Detailed Competitive Rivalry landscaping
- Market trend and forecast analysis
- Future Growth Boulevards
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