Automotive Airbag Inflator Market Size, Share, Analysis, Trends, Growth, 2032

Automotive Airbag Inflator Market Insights

Zion Market Research has published a report on the global Automotive Airbag Inflator Market, estimating its value at USD 63.46 Billion in 2023, with projections indicating that it will reach USD 155.86 Billion by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 10.5% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Automotive Airbag Inflator Market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

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Automotive Airbag Inflator Market: Overview          

An automotive airbag is a device that appears like a balloon when the vehicles meet with an accident or crash. The purpose of airbags in vehicles is to provide a vehicle occupant with soft cushioning and restraint in an accident or crash. It can avoid injuries between the flailing occupant and the interior of the vehicle.

An automotive airbag inflator market plays a vital role in the airbag system in the vehicle, which inert gas to inflate the airbags. The airbags' inflators are mainly made from the gases such as sodium azide. When the crash occurs, the gas releases nitrogen gas which can instantly inflate an airbag. Nowadays, airbags are used in every vehicle in order to reduce injuries during a crash.

Airbags come up in different installations in automobiles such as passenger bags, side bags, curtain bags, driver bags, knee bags, and roll-over bags. The inflator inflates the airbags with gas in less than 1 second. The global automotive airbag inflator market is rapidly growing owing to various factors such as regulatory pressure, technology integration, and consumer demand across the regions.

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Automotive Airbag Inflator Market: Growth Factors

Increasing focus on consumer safety and comfort with increasing regulatory needs regarding vehicle security and increasing awareness about vehicle security all over the world are some of the driving factors for the growth of the market. Moreover, rising penetration of curtain and side impact airbags, innovation in airbags for every vehicle, and increased vehicle production are the primary factors for the development of the airbag inflator market. In addition, the durability of affordable airbags might limit the automotive airbag inflator market in the coming years.

Ongoing technological advancements in airbags in order to reduce the risk are likely the drive the requirement for different kinds of airbags equipped in a vehicle, boosting the automotive airbag inflator market. The major giant players are planning to invest more in research and development to stay ahead in the automotive airbag inflator market is expected to drive the market growth.

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For example, in February 2018, General Motors asked the Government of the US for permission to evade recalls of possibly deadly air bag inflators by Takata. Also, in the same time frame, A group of 13 auto manufacturers contributed as much as USD 130 Billion to reimburse those injured by deadly Takata Corp air bag inflators. This was done as a fraction of an agreement to solve the bankruptcy of the Japanese company.

Automotive Airbag Inflator Market: Report Scope

Automotive Airbag Inflator Market: Segmentation

Inflator Types Segment Analysis Preview  

The pyrotechnic inflator type segment holds the major share in the market and is likely to remain the most dominant inflator type during the forecast period, owing to its higher usage in frontal airbags. Hybrid inflators and stored gas inflators are likely to witness higher CAGR during the same period. It offers various advantages such as greater performance tailoring, lower exhaust gas temperature, reduced gaseous and airborne particulates, and greater bag fill capability.

Front airbag, side airbag, knee airbag, curtain airbag and others are the key airbag type segment of this market. Technology advancement has led this type to grow significantly. Light commercial vehicles, compact cars, and MPVs are expected to offer a significant growth opportunity for airbag inflators in the near future.

Europe emerged as the dominating regional market for automotive airbag inflators in 2015 owing to strong regulations for adopting airbag safety systems in each passenger car by governments in Europe. Asia Pacific is expected to be a fastest growing market for airbag inflators in coming years due to the presence of emerging economies such as China and India paired with increased vehicles production. High awareness along with government initiative at the major driving factors expected to boost the demand of airbag inflator in North America. U.S. is expected to be a most promising market in North America.

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Automotive Airbag Inflator Market: Competitive Landscape

Some of the major players dominating the global Automotive Airbag Inflator market are

• Tenneco
• Dana
• TRW Automotive. 

Other key players influencing the global market include 

• Visteon
• Johnson Controls
• BorgWarner.

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The global Automotive Airbag Inflators Market is segmented as follows:

By Inflator Types

• Pyrotechnic
• Stored Gas
• Hybrid

By Airbag Types

• Front Airbag
• Side Airbag
• Knee Airbag
• Curtain Airbag
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa