Automotive Airbag Inflator Market Size, Share & Industry Analysis, By Product Type (Pyrotechnic Inflator, Stored Gas Inflator, Hybrid Inflator), By Component Type (Airbag Inflator Filter, Airbag Tubes, Others), By Vehicle Type (Passenger Vehicle, Light Commercial Vehicle), and Regional Forecast, 2024-2032

The global automotive airbag inflator market size stood at USD 4.85 billion in 2023 and is anticipated to rise from USD 5.18 billion in 2024 to USD 9.51 billion by 2032, with a CAGR of 7.9% over the projected period.

Automotive airbag inflators are components of an airbag system that produces gas to inflate airbags. Such inflators play a critical role in driver and passenger safety. These inflators primarily store gas or chemical fuel, or a member chamber composed of both, inflating the airbag when a vehicle crashes. The automotive airbag inflator market is witnessing steady growth driven by increasing emphasis on vehicle safety worldwide. Airbag inflators play a critical role in deploying airbags rapidly during collisions, mitigating the impact on occupants. Key factors fueling market growth include stringent safety regulations, rising consumer awareness regarding vehicle safety features, and technological advancements in airbag inflator design and manufacturing. Additionally, the growing production of vehicles, particularly in emerging economies, contributes to market expansion. Moreover, an inflator fills the bag with gas in less than 0.02 seconds, faster than the blink of an eye.

The COVID-19 pandemic impacted the automotive airbag inflator market, causing disruptions in manufacturing operations and supply chains. Lockdown measures, reduced vehicle production, and economic uncertainties led to a temporary slowdown in market growth. However, as automotive production gradually resumes and consumer demand rebounds, the market is expected to recover. Additionally, the growing emphasis on vehicle safety post-pandemic may drive increased adoption of airbag inflators, supporting market growth.

Automotive Airbag Inflator Market Trends

Increase in Consumer Awareness Related to Vehicle Safety

Customers' awareness of the applications and use of passive safety systems has increased, making customers ready to pay a premium price for new safety systems and additional safety features in vehicles. The critical factor that drives the purchasing of safety features is demonstrated technology. Consumers' purchasing decisions will be influenced by credibility, safety, and comfort factors. To attract customers, various companies are developing new airbag technologies. For instance, in July 2019, ZF developed an external airbag to enhance vehicle safety. This external airbag is designed to soften the impact of the oncoming vehicle, thereby reducing damage. Whenever this smart airbag system detects an oncoming impact, it deploys.

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Automotive Airbag Inflator Market Growth Factors

Increasing Vehicle Production and Sales to Set a Positive Trend For Market Growth

Automotive airbag systems are standard fitting in luxury and mid-class passenger cars. Moreover, with a rise in the number of models and new types of vehicles entering the market, the demand for the automotive airbag inflator is expected to increase significantly. Furthermore, expanding middle-class population, rising disposable incomes, and growing urbanization will lead to a rise in the sale of all types of vehicles, which further helps boost the growth opportunities of the automotive airbag inflator business in the coming years.

Increasing Regulatory Requirements Related to Vehicle Safety and Rising Demand for Safety System Equipped Vehicles to Improve Market Growth

Due to rising safety norms by governments, automotive airbag manufacturers will be forced to produce advanced airbag inflators such as the Hybrid Inflator, Single-stage & Dual Stage Inflators. Moreover, several governments around the world have introduced stringent vehicle safety rules. For Instance, in India, from April 1, 2021, all new passenger cars produced in India should include dual airbags as standard fittings, one for the driver and one for the front passenger. These regulations have forced manufacturers to focus more on comfort and safety technology such as automotive airbags and sensors. Furthermore, the rising demand for safety features from the consumer side will show positive growth for the market. Moreover, the increased penetration of side-impact, curtain airbags, vehicle production, and the introduction of more bags per car are significant factors propelling this market.

RESTRAINING FACTORS

Durability of Cheap Airbags, High Cost of Airbag System Vehicles, Product recall, and Low Spending Ability in Underdeveloped Economies May Hamper the Growth of the Market

Despite advancements in airbag technology, the industry continues to grapple with recalls stemming from defects in inflator design or manufacturing processes. For instance, the widespread Takata airbag inflator recalls have had significant ramifications, affecting millions of vehicles globally and resulting in substantial financial losses for automakers. These recalls not only erode consumer confidence in airbag safety but also incur considerable costs for manufacturers in terms of recall expenses, legal liabilities, and reputational damage. Moreover, stringent regulatory scrutiny and enforcement actions further compound the challenges faced by the industry.

Addressing these issues requires concerted efforts from automotive manufacturers, inflator suppliers, and regulatory agencies to enhance quality control measures, improve inflator design and testing protocols, and strengthen oversight of the supply chain. By proactively addressing safety concerns and implementing robust quality assurance measures, the automotive industry can mitigate the risks associated with airbag inflators and regain consumer trust.

However, the persistent challenges related to airbag inflator safety underscore the need for continuous vigilance and innovation to ensure the reliability and effectiveness of these critical safety components. Failure to address these issues effectively may restrain market growth and hinder the broader adoption of airbag inflator technology in the automotive sector.

Automotive Airbag Inflator Market Segmentation Analysis

By Product Type Analysis

Pyrotechnic Inflator Type Dominates the Market

The market is bifurcated into three types of inflators: pyrotechnic inflators, stored gas inflators, and hybrid inflators.

The pyrotechnic inflator holds the largest share globally, and the same segment is expected to lead throughout the forecast period. The pyrotechnic inflator segment will be dominating during the forecast period due to technological advancement in the segment. For instance, airbag inflator manufacturers, such as Autoliv Inc and Daicel Corporation, are working on advanced airbag inflators such as hybrid inflators and stored gas inflators.

Hybrid inflator has high growth and low penetration in 2023. The segment is anticipated to grow during the projection period owing to improved performance/tuning capability and lower exhaust gas temperature.

The stored gas inflator segment had low penetration and high growth in 2023. This segment will show high growth during the projected period due to less inflation time than other inflator types and compressed cold gas to inflate the airbag.

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By Component Type Analysis

Airbag Inflator Filters To Grow At Highest Growth Rate Over The Forecast Period

The global market has been segmented based on component type into Airbag Inflator Filter, Airbag Tubes, Others. The other component segment accounted for the highest automotive airbag inflator market share in 2023,. The airbag tubes and filters segment is witnessing high demand across the industry owing to growing usage of airbags and government mandate to install airbags in passenger vehicles in various countries. However, increasing steel prices post COVID-19 is likely to hamper the manufacturing of such components as steel is the main material used for manufacturing.

By Vehicle Type Analysis

Passenger vehicle segment dominates the market

The market is segregated into passenger vehicles and light commercial vehicles based on vehicle type. The passenger vehicle segment holds the largest share globally in this market and is expected to dominate the forecast period. Due to rising individual disposable income, rising sales and production of passenger cars in developing countries will push this segment's growth. The light commercial vehicle segment is also expected to show lucrative growth in the market over the forecast period. It is due to several government initiatives worldwide to improve commercial vehicle safety standards.

REGIONAL INSIGHTS

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The market in Asia Pacific was valued at USD 2.85 billion in 2023. As an automotive hub, the region is projected to dominate the worldwide automotive airbag inflator market, with countries in the region boosting vehicle production per year. This growth is accountable due to increasing preference for personal mobility in the post-COVID-19 period that will boost automobiles and safety components such as airbag inflators. During the forecast timeframe, the region's market is predicted to rise due to the increasing adoption of critical government programmes, the use of electric vehicles, and autonomous vehicles.

Europe accounted for the second-largest position in the market due to the presence of key players in this area. Consumer adoption of electric vehicles, autonomous vehicles, and shared mobility is likely to fuel market expansion in this region.

North America is expected to increase significantly. North America market  is predicted to grow as government regulations for car safety and standards become more stringent, as well as the fast adoption rate of new technologies and the high investment in product innovation. Moreover, in America, frontal airbags have been standard equipment for all passenger cars since 1998.

The rest of the world contributes very little compared to other regions in the global market, and this is due to lesser automotive OEMs & airbag inflator suppliers, low adoption of technology, and less presence of all types of vehicles.

List of Key Companies in Automotive Airbag Inflator Market

Product diversification is expected to boost the sales growth of Autoliv Inc.

The market is consolidated because of its robust product portfolio and notable distribution network of big corporations in established and developing nations.

The market is consolidated. The major maket players are putting their efforts into producing technologically superior airbag inflators for automobiles. For instance, Autoliv Inc has developed an initiator and micro gas generator. Similarly, other airbag manufacturers are developing advanced airbag systems such as roof airbags, knee airbags, and side airbags.

LIST OF KEY COMPANIES PROFILED:

• Autoliv Inc (Sweden )


• Joyson Safety System (U.K.)


• Robert Bosch GmbH (Germany)


• Toyoda Gosei Co. Ltd (Japan)


• Nippon Kayaku (Japan)


• TRW Automotive (U.S.)


• Aptiv PLC (U.S.)


• Daicel Corporation (Japan)s


• ARC Automotive, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• March 2024: Honda announced it would revolutionize motorcycle safety by developing its latest airbag technology. Honda is working on a new airbag system for motorcycles that is comparable to those used in cars, aiming to enhance rider safety.


• December 2023: Toyoda Gosei Co., Ltd. relocated and enlarged its existing engineering and sales office to the new Toyoda Gosei Technical Center India, a branch office of Toyoda Gosei Minda India, in Manesar, Haryana. With this enhancement of technical development capacity, Toyoda Gosei aimed to expand the airbag development center to meet growing demands for safety systems better and increase its business in the rapidly growing Indian automotive market.


• June 2023: Autoliv unveiled new airbag technology based on the Bernoulli Principle. Traditionally, airbags rely on internal gas pressure to inflate rapidly during a crash. The new technology incorporates an inflator that receives a signal indicating a collision. This then propels high-pressure gases at high speeds through multiple inlet tubes.


• May 2023: Autoliv Inc. (China) and NIO Inc. signed a strategic cooperation framework agreement. In this agreement, NIO and Autoliv will develop safety products for electric vehicles and sustainable technologies. The new technologies will include a passenger airbag that deploys from the headliner using an environmentally friendly inflator


• July 2021: Autoliv, Inc., a global leader in automotive safety systems, has opened up a new sound and vibration laboratory at Ogden Technical Center (OTC), which has been designed specifically for the development of automotive safety restraint equipment (airbags, seat belts, steering wheels, and others).

REPORT COVERAGE

The global automotive airbag inflator market report offers a comprehensive study of the industry, focusing on critical factors such as key companies, product types, and application areas. Besides that, the research provides insights into market trends and key industry advancements. In addition to various factors, the study covers several others that have contributed to the market's recent growth.

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