Automotive Airbag Inflator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Automotive Airbag Inflator Market has been segmented by Airbag Type (Driver airbag, Passenger airbag, Curtain airbag, Knee airbag, Pedestrian Protection airbag, and Side airbag), Inflator Type (Pyrotechnic, Stored Gas, and Hybrid), Vehicle Type (Passenger Car and Commercial Vehicle), and Geography (North America, Asia-Pacific, Europe, and Rest of the World). The report offers market size and forecasts for Automotive Airbag Inflator Market in Value (in USD billion) for all the above segments.

Automotive Airbag Inflator Market Size

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Automotive Airbag Inflator Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 3.76 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration High

Major Players

Automotive Airbag Inflator Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Automotive Airbag Inflator Market Analysis

The Global Automotive Airbag Inflator market is valued at USD 14.21 Billion in 2021 and is expected to reach USD 18.28 Billion by 2027 registering a CAGR of 3.76%, during the forecast period, (2022-2027).

During the outbreak of pandemic COVID-19, the market was hit adversely because of the disruptions caused in the supply chain as several major economies of the world were forced into lockdown and economic activities were halted during this period. All the manufacturing units and OEM plants stopped their production to adhere the social distancing norms and restrict the spread of virus. The demand for passenger vehicles also fell drastically during this period. Yet with the gradual opening up of economies the demand returned to the market and markets like China and India witnessed huge demand for passenger cars as the consumer preference changed from public transport to personal vehicles. The trend is expected to continue during the forecast period.

Over the long term, 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 May 2022, After almost a year spent developing a fix for faulty airbag inflators, General Motors is getting ready to replace faulty airbag inflators in 410,019 trucks that were recalled in July 2021.

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

Automotive Airbag Inflator Market Trends

This section covers the major market trends shaping the Automotive Airbag Inflator Market according to our research experts:

Pyrotechnic Inflator to Holds the Highest Market Share

In a pyrotechnic inflator, solid propellant (typically a chemical material - sodium azide mixed with oxidizers) burns at a controlled rate to produce gas (majorly nitrogen gas). This, in turn, inflates the airbag in less than one-twentieth (1/20) of a second. At the moment of a crash, the deployment of a pyrotechnic inflator airbag is faster, as compared to that of a hybrid inflator airbag. Thus, pyrotechnic inflators have been majorly deployed in the vehicle's frontal airbags, such as driver airbags, passenger airbags, and side airbags.

With governments around the world making frontal airbags compulsory, Pyrotechnic airbags are expected to see high demand during the forecasted period.

Pyrotechnic inflators have an added advantage of small size and low weight compared to that of hybrid inflators which is attracting OEMs to use them for airbags.

Takata is now responsible for the largest auto recall in history. Takata has already recalled 40 million vehicles across 12 vehicle brands for "Airbags that could explode and potentially send shrapnel into the face and body of both the driver and front seat passenger". One of the major reason was detected to be a flaw in pyrotechnics design which is used in the inflator. In April 2018, Takata was acquired by the fifth largest airbag supplier in the United States market, Key Safety Systems (KSS), and renamed as Joyson Safety Systems.

Additionally, the disposal of pyrotechnic inflators have turned out to be toxic due to the presence of sodium azide. Thus, airbag manufacturers have been trying to provide other alternatives to replace the toxic propellant. For instance, Hella has been designing airbags with other azide-free fuels as propellants. They do not just release nitrogen gas, but also CO2 (~20%) and water vapor (~25%).

During the forecast period, the pyrotechnic segment is anticipated to continue to grow, and with technological advancements it is expected to see highest growth rate.

Automotive Airbag Inflator Market, Revenue Share (%), By Type, 2021

Asia-Pacific to Witness Faster Market Growth

The growth of advanced safety in passenger cars and commercial vehicles in the Asia-Pacific region is mainly attributed to increasing consumers' preferences for safety and comfort features, increasing penetration of Side and Curtain airbags in mid-level cars, and growing demand for premium and luxury cars. Furthermore, government initiative toward passenger safety and decreasing system and component costs is estimated to fuel the demand for airbag inflators over the forecast period.

China is one of the largest automotive markets across the world, and more than 20.17 million passenger cars were sold in the country in 2020 and recorded a 5.89% of the yearly decline in sales compared to 2019. Despite the pandemic, China is still one of the largest sellers of automobiles globally.

India is an emerging economy where the implementation of advanced safety and driver assistance features in passenger cars is taking place gradually. India has a potential and opportunity for airbag inflator market as India is stepping gradually into the electric, autonomous and artificial intelligence oriented automotive industry along with many new product launches. For instance,

  • In 2021, Morris Garage has launched its new SUV Gloster and the facelifted version of the Hector. Both the vehicle models have gained good sales in the market and the top-spec variant of these cars get 6-airbags as standard.
  • Mahindra in 2021 has launched the XUV 700. The top-spec variant of the car features 7-airbags and in a recent press release, it was identified that, more than 70% of the bookings for the XUV 700 have been the top-spec trim. The vehicle has received more then 50,000 bookings within the first few months and has more than 78,000 units to delivered to customers.
  • Maruti Suzuki in 2021 has launched the facelifted versions of the Baleno, Ertiga, and the XL6. All the models on the to-spec variants get 4-airbags and 6-airbags as standard.

With increasing demand for safe cars, the market for airbag inflators over the forecast period in Asia-Pacific is expected to grow.

Automotive Airbag Inflator Market, Growth Rate by Region, 2022-2027

Automotive Airbag Inflator Industry Overview

The automotive airbag inflator market is fairly consolidated, with the major companies capturing more than 65% 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 May 2022, Yanfeng, a leading global automotive supplier, and U.S.-based company ARC Automotive, a global manufacturer that offers a full program of inflation systems for vehicle airbags, announced the formation of a new joint venture for the production of airbag inflators for airbag applications.
  • 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.

Automotive Airbag Inflator Market Leaders

  1. Joyson Safety Systems

  2. ZF Friedrichshafen AG

  3. Ashimori Industry;Co., Ltd

  4. Toyoda Gosei Co., Ltd.

  5. Automotive Inc.

*Disclaimer: Major Players sorted in no particular order

Automotive Airbag Inflator Market Concentration
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Automotive Airbag Inflator Market News

  • 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.

Automotive Airbag Inflator Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Airbag Type

      1. 5.1.1 Driver Airbag

      2. 5.1.2 Passenger Airbag

      3. 5.1.3 Curtain Airbag

      4. 5.1.4 Knee Airbag

      5. 5.1.5 Pedestrian Protection Airbag

      6. 5.1.6 Side Airbag

    2. 5.2 Inflator Type

      1. 5.2.1 Pyrotechnic

      2. 5.2.2 Stored Gas

      3. 5.2.3 Hybrid

    3. 5.3 Vehicle Type

      1. 5.3.1 Passenger Cars

      2. 5.3.2 Commercial Vehicles

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Rest of North America

      2. 5.4.2 Asia-Pacific

        1. 5.4.2.1 China

        2. 5.4.2.2 Japan

        3. 5.4.2.3 India

        4. 5.4.2.4 South Korea

        5. 5.4.2.5 Rest of Asia-Pacific

      3. 5.4.3 Europe

        1. 5.4.3.1 United Kingdom

        2. 5.4.3.2 Germany

        3. 5.4.3.3 France

        4. 5.4.3.4 Russia

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Autoliv Inc.

      2. 6.2.2 ZF Friedrichshafen AG

      3. 6.2.3 Joyson Safety Systems (Key Safety Systems)

      4. 6.2.4 HUAYU Automotive Systems

      5. 6.2.5 Toyoda Gosei Co., Ltd.

      6. 6.2.6 Daicel Corporation

      7. 6.2.7 Nippon Kayaku Co.,Ltd

      8. 6.2.8 Ashimori Industry;Co., Ltd

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Automotive Airbag Inflator Industry Segmentation

Automotive airbag inflators are one of the main components of the airbag system. It is majorly made of a member chamber consisting 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 airbags 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. By geography, the market is segmented as North America, Europe, Asia-Pacific, and Rest of the World.

Airbag Type
Driver Airbag
Passenger Airbag
Curtain Airbag
Knee Airbag
Pedestrian Protection Airbag
Side Airbag
Inflator Type
Pyrotechnic
Stored Gas
Hybrid
Vehicle Type
Passenger Cars
Commercial Vehicles
Geography
North America
United States
Canada
Rest of North America
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
Europe
United Kingdom
Germany
France
Russia
Rest of Europe
Rest of the World
Brazil
South Africa
Other Countries
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Automotive Airbag Inflator Market Research FAQs

The Automotive Airbag Inflator Market is projected to register a CAGR of 3.76% during the forecast period (2024-2029)

Joyson Safety Systems, ZF Friedrichshafen AG, Ashimori Industry;Co., Ltd, Toyoda Gosei Co., Ltd. and Automotive Inc. are the major companies operating in the Automotive Airbag Inflator Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Europe accounts for the largest market share in Automotive Airbag Inflator Market.

The report covers the Automotive Airbag Inflator Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Automotive Airbag Inflator Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Automotive Airbag Inflator Industry Report

Statistics for the 2024 Automotive Airbag Inflator market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Automotive Airbag Inflator analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Automotive Airbag Inflator Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)