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Technavio’s market research analyst predicts the global automotive airbag inflators market to grow steadily at a CAGR of around 8% by 2021. One of the primary drivers for this market is the rise in automotive sales in emerging economies across the globe. Emerging markets have witnessed a steady growth in automobile sales due to strong economic growth, ideal demographics, and increased purchasing power of people. The economic growth in BRICS (Brazil, Russia, India, China, and South Africa) nations has propelled the growth in the automotive industry in the past few years. This has compelled several global automakers to partner with the domestic automakers of these emerging markets to enter this untapped market space. For instance, Ford teamed with Changan Auto, while BMW sells its cars in China through Brilliance China Automotive. Moreover, strong economic growth and the increased purchasing power create a strong market for luxury and premium vehicles, which will propel the market for automotive airbag inflators during the forecast period.
One of the latest trends gaining traction in this market is the introduction of flexible vent technology. The flexible vent technology ensures that the inflation of airbags is no more dependent on the sensors. A smart air pressure control mechanism regulates inflation by controlling the airflow through the vent. The conventional airbags used to get inflated by the release of energy through the inflator. The body size of the airbags is generally of the dual stage to accommodate with the severity of the accident. Inputs are taken from the electronic control unit (ECU) and a sensor that gives the position and weight of the driver, and the final inflation limit is controlled depending on the severity of the crash. This enhanced technological advancement in the technology will augment growth in the global automotive airbag inflators market in the coming years.
The automotive airbag inflator market is highly consolidated due to the presence of few established players holding majority share in the market. The increasing penetration of automotive OEMs in developing regions should deepen competition among regional players, where product differentiation is a key strategy for OEMs to uphold their market shares. With the increasing demand for better quality products, the market competition is expected to intensify in the next four years.
Leading vendors in the market are –
During 2016, the curtain airbags segment dominated the automotive airbag inflators market and accounted for a major part of the overall market share. Factors such as the high demand for automobiles, emphasis on safety components, and electronic content in vehicles are the key factors responsible for the growth of this segment in the global market.
In this market study, analysts have estimated the APAC to dominate the automotive airbag inflators market during the forecast period. With rapid economic growth in this region, the per-capita income has drastically increased over the past couple of years. This has increased the purchasing power of consumers, leading to rising in automobile sales. Consequently, this has played a major role in the dominance of the automotive airbag inflators market in the region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Decision framework
PART 09: Drivers and challenges
PART 10: Market trends
PART 11: Key vendor analysis
PART 12: Appendix
Tags: auto accessories, air bag suspension, auto electronics, car accessories, automotive suppliers, automotive electronics business segment,
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