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The increased awareness regarding safety and security among the consumers is expected to drive the airbag inflator market over the forecast period. The implementation of government regulations for the adoption of the airbags in the passenger vehicle is expected to increase the airbag inflator market size. The increasing sales and production of passenger vehicles from the developing countries would drive the passenger vehicle airbag inflator market. Globally the advancement in the technology of the airbag for pedestrian safety is expected to propel the growth of the airbag inflator market over the forecast period. The airbag inflator is the essential safety equipment of the passenger vehicle. The airbag inflator consists of different types, such as the knee, frontal, curtain, and external. Knee airbags reduce the damage to the knees, hip, and thigh. Curtain airbags diminish the damage by 50% to the occupant passenger. External airbag minimizes the impact of the crash by 25%. The front airbags reduce injuries to the head and body of the occupant.
Key Market Driver -
The rising awareness among the consumers regarding safety features and increasing demand for the passenger vehicles is expected to drive the market over the forecast period.
Key Market Restraint -
The faulty airbags is expected to restrain the growth of the market over the forecast period.
Still, faulty airbags by manufacturers are expected to restrain the growth of the passenger vehicle airbag inflator market over the forecast period. Defective airbags lead to severe accidents and fatal casualties of the occupant; this is expected to hamper the market’s growth.
The major players that are present in the Global Passenger Vehicle Airbag Inflator Market include Autoliv Inc., ZF Friedrichshafen AG, Toyoda Gosei Co., Ltd., Joyson Safety Systems, among others.
The global passenger vehicle airbag inflator market has been segmented into type, application, and region. Based on the type, the market has been segmented into stored gas, pyrotechnics, hybrid, cold gas, and hot gas. The pyrotechnic airbag type dominates the market with the largest share and is expected to retain its position over the forecast period owing to its significant scale usage in frontal airbags. The hybrid airbag type is anticipated to show good growth over the forecast period owing to its advantages such as lower exhaust gas temperature, higher gas fill capacity, and lowered airborne and gaseous particulates. By application, the market has been segmented into a curtain, frontal, knee, and external. The frontal application of the airbag inflator holds the lion share of the market and is anticipated to dominate the market over the forecast period. The curtain application of the airbag inflator is expected to also show lucrative growth over the forecast period owing to its advantages to the passengers. Knee's application of the airbag inflator is expected to display growth in the market amid its capability to minimize the damage by 25 %.
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Geographically, the market has been segmented into North America, Europe, Asia Pacific, and the rest of the world. The Asia-pacific region is anticipated to dominate the market over the forecast period owing to increasing demand for passenger vehicles from developing countries such as China, India, and Japan. The disposable income of the end-users and substantial investment in the manufacturing process by the established players, these factors are expected to also drive the market in this region over the forecast period. North America and Europe are expected to show a favorable growth market owing to its penetration of the airbags amid stringent passenger safety. The major players in this region with huge investment in the R&D for the development in the airbags are expected also to drive the market in this region.
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