|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
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The Global Automotive Airbag Inflator market is valued at USD 1.4 Billion in 2020 and is expected to reach USD 2.6 Billion by 2026 registering a CAGR of over 3%, during the forecast period, (2021-2026).
- Increasing regulatory requirements regarding vehicle safety and rising awareness about customer safety, globally, are driving the automotive airbag inflator market.
- Furthermore, the increase in the penetration of side-impact and curtain airbags, and vehicle production, the introduction of more bags per car, are the major factors that drive the growth of the automotive airbag inflator market.
- In 2018, Europe continued to capture the largest market for airbag inflators due to various government initiatives toward passenger safety, such as the introduction of crash tests for frontal and side impact protection, sub-system tests for pedestrian protection, and anti-lock braking requirements.
- However, Asia-Pacific is expected to lead the market by the end of forecast period, because of countries, like India and China are anticipated to record high CAGR in the automotive industry
Scope of the Report
Automotive airbag inflators are one of the main components of the airbag system. It is majorly made of member chamber consists of chemical propellants or stored gas or both, which are ignited to inflate the airbag during the vehicle crash. Different airbag type employs different airbag inflator technologies in the automotive industry. The aforementioned automotive airbag inflators have been considered in the scope of the market.
The automotive airbag inflator market has been segmented by airbag type, inflator type, vehicle type, and geography.
By Airbag Type, the market is segmented as Driver Airbag Passenger Airbag Curtain Airbag Knee Airbag Pedestrian Protection Airbag and Side Airbag.
By Inflator Type, the market is segmented as Pyrotechnic, Stored Gas, and Hybrid.
By Vehicle Type, the market is segmented as Passenger Cars and Commercial Vehicles.
|Pedestrian Protection Airbag|
Key Market Trends
Hybrid Inflator to Capture Faster Growth Rate
The hybrid inflator working principle involves a combination of both stored gas and pyrotechnic technologies. It uses compressed gas and a combustion reaction in a single device.
- Though hybrid inflators have been eco-friendlier compared to that of pyrotechnic inflators, the former exhibited some disadvantages, such as design complexity, additional space and size, high cost, and longer deployment time compared to that of pyrotechnic inflators.
- Thus, hybrid inflators will take a considerable time to replace pyrotechnic inflators completely in the automotive industry.
- However, with the growing improvement in production and design, hybrid inflators have been increasingly preferred in passenger airbags, knee airbags, and curtain airbags in the automotive industry.
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Asia-Pacific to Witness Faster Market Growth
In 1993, US congress and National Highway Traffic Safety Administration (NHTSA) adopted a law requiring dual front airbags (i.e., driver airbag and passenger airbag) in all passenger cars by 1998, and in all light duty trucks and vans by 1999.
- Thereafter, North America and Europe have been the major regions that significantly deployed dual front airbags in the aforementioned types of vehicle segments and continue to meet their respective NCAP standards till date.
Asia-Pacific has been gradually adopting the aforementioned rules and taking necessary measures to mandate the dual front airbags in all passenger cars and light-duty trucks across all the countries in the region during the forecast period.
- However, few countries of the Asia-Pacific region have been already following the footsteps of Euro NCAP. For instance, in 2019, the Indian government has mandated to equip at least one driver airbag in all passenger cars.
- Additionally, apart from entry-level cars, many new car models launched in India have been adding passenger airbags as standard features since the past two years (i.e., 2017 and 2018), which is likely to continue during the forecast period
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The automotive airbag inflator market is a fairly consolidated, with the major companies capturing more than 78% of the global market studied.
Some of the prominent players in the market, includes Autoliv Inc., Joyson Safety Systems, ZF Friedrichshafen AG, Toyoda Gosei Co., Ltd., and Ashimori Industry;Co., Ltd.
- In July 2021, Toyoda Gosei Co., Ltd. has developed a driver-side airbag with a new structure that can more safely protect the occupant. Loaded in the center of the steering wheel, driver-side airbags inflate during frontal collisions to mitigate the impact on the driver’s head and chest. In order to more safely protect the occupant during angled frontal collisions, the new airbag uses an innovative donut-shaped structure to cradle and hold the head to reduce rotation.
- In April 2021, Toyoda Gosei announced that it has started production of millimeter wave compatible emblems and airbag inflators at Toyoda Gosei (Zhangjiagang) Co., Ltd. (TGZH), a Chinese subsidiary of Toyoda Gosei to meet the growing demand for these products in China. Millimeter-wave compatible emblems allow the passage of millimeter-wave radar that senses the situation around vehicles.
- · In March 2021, Autoliv Inc, the worldwide leader in automotive safety systems, has announced its plan to build a new inflator manufacturing plant in India. A new airbag inflator plant will be built close to Chennai. Localisation of inflator production will meet customer requirements while mitigating global supply chain disruptions and fluctuations.
- In January 2021, Daicel Corporation will set up an airbag inflator manufacturing plant in Chennai. The company will invest around Rs 230 crore during the phase-I. This will be Daicel Corporation’s first airbag inflator manufacturing plant in India. The company was catering to Indian market from its production site in Thailand and other countries.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Industry Attractiveness - Porter's Five Force Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Airbag Type
5.1.1 Driver Airbag
5.1.2 Passenger Airbag
5.1.3 Curtain Airbag
5.1.4 Knee Airbag
5.1.5 Pedestrian Protection Airbag
5.1.6 Side Airbag
5.2 Inflator Type
5.2.2 Stored Gas
5.3 Vehicle Type
5.3.1 Passenger Cars
5.3.2 Commercial Vehicles
5.4.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 Rest of Asia-Pacific
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.4.4 Rest of the World
22.214.171.124 South Africa
126.96.36.199 Other Countries
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Autoliv Inc.
6.2.2 ZF Friedrichshafen AG
6.2.3 Joyson Safety Systems (Key Safety Systems)
6.2.4 HUAYU Automotive Systems
6.2.5 Toyoda Gosei Co., Ltd.
6.2.6 Daicel Corporation
6.2.7 Nippon Kayaku Co.,Ltd
6.2.8 Ashimori Industry;Co., Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Automotive Airbag Inflator Market market is studied from 2018 - 2026.
What is the growth rate of Automotive Airbag Inflator Market?
The Automotive Airbag Inflator Market is growing at a CAGR of >3% over the next 5 years.
What is Automotive Airbag Inflator Market size in 2018?
The Automotive Airbag Inflator Market is valued at 1 Billion USD in 2018.
What is Automotive Airbag Inflator Market size in 2026?
The Automotive Airbag Inflator Market is valued at 2 Billion USD in 2026.
Which region has highest growth rate in Automotive Airbag Inflator Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Automotive Airbag Inflator Market?
Europe holds highest share in 2020.
Who are the key players in Automotive Airbag Inflator Market?
Autoliv Inc., Joyson Safety Systems, ZF Friedrichshafen AG, Ashimori Industry;Co., Ltd, Toyoda Gosei Co., Ltd. are the major companies operating in Automotive Airbag Inflator Market.