Automotive Airbag Inflator Market

Automotive Airbag Inflator Market

Growth Factors of Automotive Airbag Inflator Market

The automotive airbag inflator market size was valued at USD 4.85 billion in 2023, and the market is now projected to grow from USD 5.18 billion in 2024 to USD 9.51 billion by 2032, exhibiting a CAGR of 7.9% during the forecast period of 2024-2032.

The sales of automotive airbag inflators took a huge hit because of the disruptions of the global supply chains as well as a decrease in the production of vehicles during the pandemic of COVID-19. Due to Covid 19 restrictions such as lock down, there was reduced sale of cars, so reducing the demand of the airbag inflators. Production was worsened by manufacturing delays and shortages of raw materials. However, when depression started easing off and which the economies began to come up and the beginning of production of automobiles, the market began to prevail a little. This is because auto manufacturers have shifted their focus from safety features and the market is likely to recover its growth rate post pandemic.

Current trends on the automotive airbag inflator market include developments in safety and light weight technologies. There are innovations of efficient inflators inside small spaces that also increase the airbag’s capability and decrease the vehicle’s mass. The new innovations in cars have promoted the new kind of smart airbag systems that are equipped with sensors to enhance safety of passengers in electric as well as the autonomy vehicles. Moreover, improved legislation demands and buyer’s increased focus on safety have become the key trends affecting the development of inflators, which are fine-tuned for various crash conditions to achieve high rates of deployment. The above-mentioned factors are driving the automotive airbag inflator market growth.

Factors that are considerably driving the demand for automotive airbag inflators include the growing number of mandates for safety and the concern by consumers regarding the safety of their vehicles. Governments around the globe keep on regulating the use of airbags in vehicles which led to development of new improved airbag inflator systems. There is increasing use of cars across the globe and particularly in the developing countries which is contributing to the growth of this market exponentially. In addition, innovative technological features such as spectator airbags, compact and lightweight inflators are observed to be driving the market further. Also, the shift of population towards electric and autonomous vehicles is forcing manufacturers to deploy smart airbag systems and accelerating the market growth.

Comprehensive Analysis Automotive Airbag Inflator Market

Automotive airbag inflator market is segmented by product type, by component type and by vehicle type. All these fit into categories of pyrotechnic inflators, which employs explosions to cause the art of the bag; stored gas inflators that involves compressed gasses; and the hybrid inflators; which are the combination of the two. Some of the component types are air bag inflator filters that enable clean gases to flow within the air bag and air bag tubes that enable the air bags to inflate. Based on the vehicle type, this market targets passenger vehicle and Light Commercial Vehicles (LCVs) with growing requirements for new-generation Airbag Systems for improving safety.

Currently, the Asia-Pacific region dominates the automotive airbag inflator market share owing to the increasing automobile production and large automotive producers such as China, Japan along with India. Availability of disposable income, high growth in urban population and the growing need for passenger cars have aided the region. Besides, complicated government standards to do with vehicle safety have led to the adaptation of enhanced air bag systems. An increase in the number of new technologies such as electric vehicles and a strong emphasis on improving safety features has supported the market in this region and therefore can be considered as a key contender in the international market.

Key players in this sector include Autoliv Inc (Sweden), Joyson Safety System (U.K.), Robert Bosch GmbH (Germany), Toyoda Gosei Co. Ltd (Japan), Nippon Kayaku (Japan), TRW Automotive (U.S.)

The key change that is expected to occur in the automotive airbag inflator market in 2024 is Robert Bosch GmbH that introduces a smart airbag inflator system. This new system has incorporated the improved sensors plus the artificial intelligence that helps in presenting the actual arrangements of crash circumstances in order to deploy the airbags in a more effective and faster manner. The system is able to determine between frontal, side and rear impacts and in a way adjust the rate at which it inflates and the pressure it puts out. This innovation ensures customers’ safety because it adjusts the operation of different types of airbag in real time in case of an accident thus reducing passengers’ risk of being injured.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 7.9% during 2024-2032

Unit Value (USD Billion) and Volume (Thousand Units)

Segmentation 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

By Geography

- North America(Product Type, Component Type, Vehicle Type)

• U.S. (By Vehicle Type)
• Canada (By Vehicle Type)
• Mexico (By Vehicle Type)

- Europe ( Product Type, Component Type, Vehicle Type)

• U.K. (By Vehicle Type)
• Germany (By Vehicle Type)
• France (By Vehicle Type)
• Rest of Europe (By Vehicle Type)

- Asia Pacific (Product Type, Component Type, Vehicle Type)

• China (By Vehicle Type)
• Japan (By Vehicle Type)
• India (Vehicle Type)
• Rest Of Asia Pacific (By Vehicle Type)

- Rest of the World ( Product Type, Component Type, Vehicle Type)


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