The global passenger vehicle airbag inflator market is likely to gain impetus from a rise in the number of road accidents and the implementation of stringent regulations on vehicle safety. As per a recent report by Fortune Business Insights, titled, “Passenger Vehicle Airbag Inflator Market Size, Share & Industry Analysis, By Type (Stored Gas, Pyrotechnic, Hybrid, Cold Gas, Hot Gas), By Application (Curtain, Frontal, Knee, External) Others and Regional Forecast, 2019-2026,” the market will rise remarkably owing to the latest innovations in automobile designing and manufacturing. Airbag inflators are used as safety devices for automatic inflation in case of a collision or accident.
The coronavirus pandemic has caused devastation to the world. The illness has spread all over the world and most businesses are shut temporarily as a result of the economic upheaval. The governments of various nations, in collaboration with multiple research institutes, are engaging in research activities for the invention of an antidote to fight against the COVID-19 pandemic. We hope to overcome this current situation soon and step into a better future.
Fortune Business Insights is offering special analytical reports on various markets impacted by the coronavirus epidemic. These reports will help investors study the effects of the pandemic on these markets and accordingly strategize for better revenue generation in the foreseeable future.
The Report Answers the Following Questions:
- What is the nature of the market?
- How will the government restrictions help promote growth?
- Who are the players in this market and what are their key strategies?
- What are the recent industry trends and current developments?
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Drivers & Restraints-
Increasing Popularity of Electric Vehicles to Propel Growth
The increasing prevalence of accident cases on roads is the key factor boosting the passenger vehicle airbag inflator market growth. This, coupled with the rising production and sales of electric vehicles with efficient driving experience and advanced airbag inflator systems, will add impetus to the market. Additionally, the increasing awareness about passenger safety and stringent impositions on following road safety regulations are also boosting the market growth.
On the negative side, the high cost of passenger vehicles with efficient airbag inflation systems may pose a significant challenge to the market in the coming years. Nevertheless, the increasing demand for electric cars offering a dynamic driving experience with all safety precautions is expected to create lucrative growth opportunities for the market in the coming years.
Detailed Classification of the Market for Passenger Vehicle Airbag Inflator is:
The global market for passenger vehicle airbag inflator is categorized on the basis of type, application, and region. Based on segmentation by type, the market is classified into stored gas, hot gas, pyrotechnic, cold gas, and hybrid. With respect to the application segment, the market is categorized into external, knee, frontal, and curtain.
Asia Pacific Dominated Market Owing Due to Presence of Major Automobile Manufacturing Companies
Asia Pacific held the largest passenger vehicle airbag inflator market share in 2018 on account of the presence of major automobile manufacturing companies such as Toyota, Mahindra, Honda, and others in the region. Emerging nations such as India, China, and Japan stand as the significant contributors to growth in this region owing to the rising disposable incomes of people and massive investments on manufacturing processes. This, coupled with the rising government restrictions on road safety, will help this region continue dominating the market in the coming years.
On the other side, the market in North America and Europe will showcase sluggish growth rates on account of the increasing adoption of airbags to cope with the stringent norms. Most of the players in this region are engaging and investing massively on research and development of efficient passenger vehicle airbags for promoting the regional market growth.
Companies Focusing on Launch of Portable and Remote Monitoring Devices to Gain Competitive Edge
Players of this global market are engaging in research and development activities for holding a significant position in the market competition. Besides this, they are also investing heavily on the development of remote and portable patient monitoring devices to aim for the top spot in the market.
Major Industry Developments of the Market for Passenger Vehicle Airbag Inflator include:
June 2019 – The first pre-crash type airbag inflator was introduced by ZF Friedrichshafen AG. This is installed on the outer part of the vehicle that can deploy before the crash to reduce the overall accidental impact by 40%.
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Some of the Key Players of the Passenger Vehicle Airbag Inflator Market include:
- Joyson Safety Systems
- ZF Friedrichshafen AG
- Autoliv Inc.
- Hyundai Mobis
- Infineon Technologies
- Toyoda Gosei Co., Ltd.
- Joyson Safety Systems
- Robert Bosch
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