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Automotive Airbag Inflator Market: By Product Type (Pyrotechnic Inflator, Stored Gas Inflator, Hybrid Inflator), By Component Type (Airbag Inflator Filter, Airbag Tubes), By Vehicle Type (Passenger Cars, Commercial Vehicles), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
Automotive airbag inflator systems comprise the airbag inflators that generate gas to inflate the airbags. This is one of the car safety features that is installed between the front seats. The inflator is a crucial component of any car or automobile that generates a precise amount of gas to inflate the airbag. Automobile airbag inflators are specially designed to provide better safety to the driver and the passengers. An airbag inflator is a tiny metal canister in the airbag module that can hold explosive propellant and the initiator. The chemical propellant in an airbag inflator unit burns swiftly and steadily in precisely working airbag modules, rapidly releasing gas into the airbag through vents in the canister and inflating the cushion.
Automotive Airbag Inflator Market to surpass USD 12.8 billion by 2032 from USD 7.7 billion in 2021 at a CAGR of 4.8% in the coming years, i.e., 2022-32. Customers are willing to pay price for new safety systems and added safety features in automobiles due to growing awareness and benefits of safety systems. The technology that has been proven to work is the main motivator for buying safety features. Credibility, safety, and comfort issues will have an impact on consumers' purchasing decisions. Many businesses are creating new airbag technology to draw attention of the clients. Over the upcoming years, the Automotive Airbag Inflator Market is anticipated to be driven by these factors.
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Automotive Airbag Inflator Market is categorized on the basis of Product Type into Pyrotechnic Inflator, Stored Gas Inflator, and Hybrid Inflator. The Pyrotechnic Inflator is currently dominating the market on a global scale and is predicted to continue to do so throughout the forecast period. The key reason for the growth of the sector is technological development in the industry.
Automotive Airbag Inflator Market is categorized on the basis of Component Type into Airbag Inflator Filter, Airbag Tubes, and Others. Due to the increasing use of airbags, the airbag inflator filter segment is witnessing higher demand. Moreover, the segment is growing significantly due to government regulations in many countries requiring the installation of airbags in passenger vehicles.
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Luxury and mid-range passenger automobiles come standard with airbag systems. Moreover, the demand for automotive airbag inflators is anticipated to rise dramatically as more models and new types of automobiles hit the market. Also, the sale of all types of vehicles will increase due to the growing middle-class population, rising disposable incomes, and expanding urbanization, which will further increase the Automotive Airbag Inflator Market growth prospects in the years to come.
Automobile airbag producers are compelled to produce cutting-edge airbag inflators like the Hybrid Inflator, Single-stage & Dual Stage Inflators due to increasing safety standards by governments. Furthermore, a number of nations have enacted strict regulations regarding automobile safety. Furthermore, the growing need for safety features by consumers will result in positive market growth. Further, the rising adoption of side-impact, curtain airbags, vehicle manufacturing, and the addition of more bags per car are driving the Automotive Airbag Inflator Market.
The high cost of airbag system automobiles is the main hindering factor faced by the Automotive Airbag Inflator Market. In less developed economies, buyers do not value airbag systems in automobiles. In addition, few manufacturers offer an airbag system for a reasonable cost. The majority of buyers do not choose to purchase automobiles equipped with an airbag system since it does not last as long as they would like it to.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Automotive Airbag Inflator Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific led the market in terms of revenue share in the past years and is predicted to continue to develop rapidly throughout the projected period. This growth can be attributed to post-COVID-19 preferences for personal mobility, which will increase demand for cars and safety equipment like airbag inflators.
In the upcoming years, Europe and North America are also expected to produce favorable growth opportunities. Due to the strict passenger safety regulations, North America and Europe have significantly higher airbag penetration rates than Asia-Pacific.
The global COVID-19 epidemic had a significant impact on the entire automobile sector, particularly since both value and supply chain stakeholders had been greatly upset by the disease's quick global spread. Vendors all across the world have started limiting or shutting down production lines. Also, a lack of necessary components and limited supply were made worse by legal and commercial constraints, such as closed borders, particularly for raw Asian materials like steel, paint, and machinery. Existing orders had to wait longer to be fulfilled due to this. Owing to the scarcity of parts supply and a just-in-time production approach that incorporates quarantine measures and a reduced workforce, OEMs have suspended manufacturing.
REPORT ATTRIBUTE |
DETAILS |
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Market Size Value in 2021 |
USD 7.7 billion |
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Revenue Forecast in 2032 |
USD 12.8 billion |
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Growth Rate |
CAGR of 4.8% from 2022 to 2032 |
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Base Year for Estimation |
2021 |
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Quantitative Units |
Revenue in USD billion and CAGR from 2022 to 2032 |
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Report Coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments Covered |
Product Type, Component Type, Vehicle Type, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
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Key Companies Profiled
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ZF Friedrichshafen AG, Autoliv Inc, Joyson Safety System, Toyoda Gosei Co. Ltd, Tenaris, Daicel Corporation, TG Missouri, Ashimori Industry Co. Ltd., ARC Automotive Inc, Nippon Kayaku, ACS Industries Inc., Simgrosys, TRW Automotive, and Other Prominent Players. |
The Automotive Airbag Inflator Market size was estimated at USD 7.7 billion in 2021 and is expected to reach USD 12.8 billion in 2032.
Automotive airbag inflator systems comprise the airbag inflators that generate gas to inflate the airbags. This is one of the car safety features that is installed between the front seats.
The Pyrotechnic Inflator and Airbag Inflator Filter segments accounted for the larger share of the Automotive Airbag Inflator Market.
Key players in the Automotive Airbag Inflator Market are ZF Friedrichshafen AG, Autoliv Inc, Joyson Safety System, Toyoda Gosei Co. Ltd, Tenaris, Daicel Corporation, TG Missouri, Ashimori Industry Co. Ltd., ARC Automotive Inc, Nippon Kayaku, ACS Industries Inc., Simgrosys, TRW Automotive, and Other Prominent Players.
Stringent government regulations associated with the use of airbags in automobiles and the new safety rules issued in important nations around the world are major factors that are projected to fuel the growth of the Automotive Airbag Inflator Market.
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