The newly launched report by Stratview Research, titled ‘Automotive Airbag Inflators Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opportunity has been bifurcated by Vehicle Type (Compact Car, Midsize Car, Large Car, MPV and LCV, SUV, and Others), by Airbag Type (Front Airbag, Side Airbag, Knee Airbag, and Curtain Airbag), by Inflator Type (Pyrotechnic Inflators, Stored Gas Inflators, and Hybrid Inflators), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

According to the report the automotive airbag inflators market is projected to reach US$ 5.2 billion in 2023.

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Key Players

The following are the key players in the market-

• Autoliv Inc.
• ZF TRW Automotive Holdings Corp.
• Daicel Corporation
• Key Safety Systems, Inc.
• Toyoda Gosei Co., Ltd. 

Segment Analysis

The 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 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 inflators in these vehicle types.  

Based on the type of inflators, the market is segmented as Pyrotechnic Inflators, Stored Gas Inflators, and Hybrid Inflators. The 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 greater performance tailoring, lower exhaust gas temperature, reduced gaseous and airborne particulates, and greater bag-fill capability.

In terms of region, 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.

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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Stratview Research's reports are the result of a thorough analysis that combines thorough secondary, and primary interviews with industry leaders, and confirmation using unique internal database and statistical methods. More than 1,000 verified secondary sources, such as annual reports from companies, press releases, fact books, journals, white papers, and blogs are reviewed and analysed.

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