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Oct 7, 2020 6:00 AM ET

Global Automotive Airbag Inflator Market Set for Rapid Growth to Reach USD 5.10 Billion by 2021


iCrowd Newswire - Oct 7, 2020

Key players in the automotive airbag inflator market comprise Takata, Diacel, Toyodo Gosei, ZF TRW, Key Safety Systems, and Autoliv amongst others. These players will have significant role in the development of the automotive airbag inflator market.

As per analysts at Zion Market Research, the global automotive airbag inflator market was capitalized at USD 4.04 Billion in 2015 and is likely to cross USD 5.10 Billion in 2021, developing at a CAGR of 4.0% from 2016 to 2021.

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Rising Penetration Of Curtain And Side-Impact Airbags And Increased Vehicles Production To Power The Development Of Automotive Airbag Inflator Market

“Prioritizing more on user comfort & safety paired with increasing regulatory needs regarding vehicle security and increasing awareness about vehicle security all over the world are some of driving factors likely to enhance the growth of automotive airbag inflator market in years to come,” as per analysts at Zion Market Research. In addition to this, rising penetration of curtain and side-impact airbags, introduction of more bags for every car, and increased vehicles production are the primary factors boosting the development of automotive airbag inflator market. On the other hand, the durability of the affordable airbag might hinder the development of automotive airbag inflator market in the years to come.

However, utilization of airbags in low-cost vehicles paired with technological improvements in the product is expected to unlock new growth opportunities in the near future for automotive airbag inflator market. Increasing safety awareness, investment by industry leaders, and ongoing technological advancement are likely the drive the requirement for different kinds of airbags equipped in a vehicle, boosting the automotive airbag inflator market. Various efforts taken by market players to stay ahead in the automotive airbag inflator market is expected to drive the market growth. For example, in February 2018, General Motors asked the Government of US for permission to evade recalls of possibly deadly air bag inflators by Takata. Also, in the same time frame, A group of 13 auto manufacturers contributed as much as USD 130 Million to reimburse those injured by deadly Takata Corp air bag inflators. This was done as a fraction of an agreement to solve the bankruptcy of the Japanese company.

Government Program Towards Safety Of The Passenger To Keep Europe In The Vanguard Position In The Automotive Airbag Inflator Market

With the biggest share, Europe was a dominating area for the automotive airbag inflator market in 2015 owing to government program towards safety of the passenger. Asia Pacific is believed to be quickest developing market in years to come owing to the attendance of huge automotive centers in India and China. Government program coupled with awareness about security is likely to boost the automotive airbag inflator market in North America.

The global automotive airbag inflator market is segmented as follows:

By Inflator Type

By Airbag Type

By Region

To view TOC of this report – https://www.zionmarketresearch.com/toc/automotive-airbag-inflator-market



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Keywords:    Global Automotive Airbag Inflator Market

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