Automotive Airbag Inflator Market Outlook 2031
The Global Automotive Airbag Inflator market size was valued at USD 4.62 Billion in 2022 and is likely reach to USD 7.94 Billion by 2031, expanding at a CAGR of 6.2% during the forecast period, 2023–2031. The growth of the market is attributed to the rising demand for the convenient, efficient, and safer experience for driving, increasing disposable income of the consumers, and growing number of road accidents as well as strict policies by government.
Automotive airbag inflators are the systems that give rise to gases that inflate airbags. Automotive airbag inflator plays a key role in car driver and passenger security. Application of severe government guidelines related to the acceptance of airbags in automobiles are estimated to fuel the market. It is designed in such a way to ensure the safety systems in the vehicles for the passengers as well as driver.
The airbags help to slower the forward motion of the passenger as faster as possible in a fraction of a second. The airbag is made of nylon fabric that is folded to the dashboard, steering wheel, door, and seat.
The sensor available in the device that tells the bag to inflate at the situation. Inflators are the most important components that is included in the airbags. Airbags cannot open instantaneously without inflators.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer awareness towards vehicle safety is expected to propel the market expansion in the coming years.
- Rapid growth of the automotive industry is major factors fueling the market growth during the forecast period.
- Production of counterfeit goods are estimated to impede the market expansion in the coming years.
- Maintaining balance between quality and cost acts as main challenges that can hinder the market growth.
- R&D investment and technological advancement in airbag inflator is anticipated to create significant opportunities for the market players.
Scope of Automotive Airbag Inflator Market Report
The report on the global automotive airbag inflator market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Automotive Airbag Inflator Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2021–2031
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Segmentation
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Airbag Types (Passenger Airbag, Knee Airbag, Side Airbag, Driver Airbag, Curtain Airbag, and Pedestrian Protection Airbag), Inflator Types (Stored Gas, Pyrotechnic, and Hybrid), Vehicle Types (Commercial Vehicles and Passenger Cars)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Daicel Corp.; Takata Corp.; Toyoda Gosei Co., Ltd.; TRW Automotive; ARC Automotive, Inc.; Jinzhou Jinheng Automotive Safety System Co., Ltd.; Autoliv Inc.; Key Safety Systems; Aptiv Plc.; Joyson Safety Systems; Ashimori Industry Co., Ltd.; and ZF Friedrichshafen AG
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Automotive Airbag Inflator Market Segment Insights:
Side airbag segment is projected to account for a large market share
Based on airbag types, the global automotive airbag inflator market is divided into passenger airbag, knee airbag, side airbag, driver airbag, curtain airbag, and pedestrian protection airbag. The side airbag segment is expected to constitute a key share of the market during the forecast period owing to as it offers protection for the body such as chest, torso, and head.
It reduces the injuries happens during accidents as it works well with front airbags. However, the knee airbag segment is anticipated to expand at a rapid pace during the forecast period due to acts as replacing element for the bolster seat and protects the legs of the front passenger.
Pyrotechnic segment is projected to hold a key market share
On the basis of inflator types, the market is segmented into stored gas, pyrotechnic, and hybrid. The pyrotechnic segment is expected to represent a key share of the market in the coming years due to high usage in front airbags and its wide application in different types of vehicles.
On the other hand, the hybrid segment is anticipated to expand at a rapid pace during the forecast period owing to high bag fill capability, decreases airborne & gaseous particulates, and lowers the exhausted gas temperature.
Passenger cars segment is projected to constitute a major market share
In terms of vehicle types, the global automotive airbag inflator market is segregated into commercial vehicles and passenger cars. The passenger cars segment is expected to account for a key share of the market during the forecast period owing to rising disposable income of the consumer and increasing awareness for using airbags for the safety of the passengers.
However, the commercial vehicles segment is anticipated to expand at a rapid pace during the forecast period due to strict rules & regulations by government around the world.
Automotive Airbag Inflator Market Regional Outlook
North America is anticipated to dominate the market
On the basis of regions, the global automotive airbag inflator market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market of North America is anticipated to expand at an impressive CAGR during the forecast period.
The regional market growth can be attributed to stringent road safety and various regulations followed by the government. On the other hand, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years due to reduce the road accidents taking place in the region.
Segments
Airbag Types
- Passenger Airbag
- Knee Airbag
- Side Airbag
- Driver Airbag
- Curtain Airbag
- Pedestrian Protection Airbag
Inflator Types
- Stored Gas
- Pyrotechnic
- Hybrid
Vehicle Types
- Commercial Vehicles
- Passenger Cars
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Daicel Corp.
- Takata Corp.
- Toyoda Gosei Co., Ltd.
- TRW Automotive
- ARC Automotive, Inc.
- Jinzhou Jinheng Automotive Safety System Co., Ltd.
- Autoliv Inc.
- Key Safety Systems
- Aptiv Plc.
- Joyson Safety Systems
- Ashimori Industry Co., Ltd.
- ZF Friedrichshafen AG
Competitive Landscape
Key players competing in the global automotive airbag inflator market include Daicel Corp.; Takata Corp.; Toyoda Gosei Co., Ltd.; TRW Automotive; ARC Automotive, Inc.; Jinzhou Jinheng Automotive Safety System Co., Ltd.; Autoliv Inc.; Key Safety Systems; Aptiv Plc.; Joyson Safety Systems; Ashimori Industry Co., Ltd.; and ZF Friedrichshafen AG.
Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares
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