Press release
Automotive Airbag Inflators Market: High Adoption of Airbags in Automobiles to Drive Demand
Currently, airbags are being installed in luxury and medium range (by price) cars. System integrators and automobile manufacturers are investing significantly in R&D for the manufacture of affordable and advanced airbag inflators to meet the increasing demand for airbags. Global car production has increased significantly of late. The airbag inflators market is estimated to expand significantly during the forecast period owing to the implementation of governmental regulations on the adoption of airbags in passenger cars in major countries.
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Airbag inflators are designed and integrated as part of the occupant safety system in vehicles. Due to high costs, OEMs prefer low-priced airbag inflators in medium- and low-end cars. Low-priced airbag inflators usually have less durability and lifespan of less than one year. The global airbag inflators market is expanding rapidly due to various factors such as technology integration, regulatory pressure, and consumer demand. There exist significant opportunities in the market; however, intense competition among manufacturers of airbag inflators is hampering the entry of new players. Furthermore, high capital investment is required to set up plants and compete with the existing players. Manufacturers of airbag inflators compete with each other in terms of technology, performance, and price. System integrators try to obtain edge over their competitors by winning OEM contracts. Companies invest significantly in research and development activities and strive to obtain more contracts. Established players have stronghold on the global market for airbag inflators due to their reliability, trustworthiness, and high quality standards. The degree of competition is high, as manufacturers offer similar products with limited differentiating attributes. Competitive rivalry in the market is projected to remain high during the forecast period, as major players continue to invest in R&D activities and launch advanced products with lower size and weight.
The automotive airbag inflators market can be segmented in terms of type and application. The type segment can be classified into pyrotechnic inflators, hybrid inflators, and others. Based on application, the automotive airbag inflators market can be divided into passenger vehicles, heavy commercial vehicles, and light commercial vehicles.
In terms of revenue, Asia Pacific holds the major share of the global automotive airbag inflators market. It is followed by North America, Europe, Latin America, and Middle East & Africa (MEA). Demand and production of passenger vehicles has been high in countries such as China and India in Asia Pacific. This, in turn, is driving the automotive airbag inflators market in the region. The automotive airbag inflators market in North America and Europe is saturated; however, it is expected to remain stable during the forecast period. The automotive airbag inflators market in Middle East & Africa and Latin America is anticipated to expand substantially during the forecast period, led by the expansion in the automotive sector and rise in demand for passenger and commercial vehicles in these regions.
Key players operating in the automotive airbag inflators market include Autoliv Inc., TRW Automotive Holdings, Delphi Automotive PLC, Takata Corporation, Key Safety System, Daicel Corporation, ARC Automotive, Inc. and Toyodo Gosei.
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