LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global automotive airbag inflators market is projected to grow to 386.12 million units by 2021, at a CAGR of close to 8% over the forecast period.
This research report titled ‘Global Automotive Airbag Inflators Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
An airbag inflator is a device which receives a signal in the event of a vehicle collision and generates nitrogen gas through a chemical reaction to inflate the airbag. The presence of airbags in a vehicle is viewed as a product differentiator by the consumers, which is directly impacting the global airbag inflator market.
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Based on application, the report categorizes the global automotive airbag inflators market into the following segments:
- Curtain airbags
- Frontal airbags
- Knee airbags
- External airbags
The top three revenue-generating application segments in the global automotive airbag inflators market are discussed below:
“Curtain airbag inflators generate over 43% of the overall revenue, dominating the global market space. The growth of the segment is in tandem with the demand for automobiles, emphasis on safety components, and electronic content in vehicles,” says Siddharth Jaiswal, a lead analyst at Technavio for automotive electronics research.
Over the past decade, the automotive industry has undergone structural changes in the form of electrification of automotive systems, emission regulations, connectivity, and advanced safety regulations. These factors, combined with the growing demand from emerging countries, such as India, Indonesia, and African countries, will promote growth in the industry.
The volume of the frontal airbag inflator segment is expected to hit 128.48 million units by 2021. Emerging economies, such as China and India, are expected to be the fastest-growing markets for frontal airbags over the forecast period. Also, laws mandating the inclusion of airbags in developed countries, such as the US, will positively impact the global market. Automobile production, which is driven by global economic growth, regulations, and consumer buying patterns will play a crucial role in influencing the automotive frontal airbag inflators market.
“Knee airbags are expected to be one of the fastest-growing segments of the global airbag inflator market, with a CAGR of more than 9%. This healthy growth is primarily because of the mandatory passive safety systems, such as frontal airbags systems, prevalent in countries such as the US and China,” says Siddhrath.
Also, the voluntary adoption of frontal airbag systems in various countries of the European Union (EU) is fueling the demand for the automotive knee airbag inflators market. Automotive governing bodies worldwide are making airbag systems as a standard feature in vehicles to curb causalities due to on-road collisions and accidents.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ARC Automotive
- ZF TRW
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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