According to the latest report by IMARC Group, titled “Automotive Airbag Inflator Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global automotive airbag inflator market size reached US$ 4.65 Billion in 2022. An automotive airbag inflator is a crucial component of the airbag system of a vehicle. It contains a small explosive charge or pyrotechnic device triggered by sensors that detect a crash in the vehicle. It is installed in the steering wheel, dashboard, or door panels of automobiles. It is responsible for rapidly inflating the airbag in the event of a collision or impact to provide protection to the occupants.
Global Automotive Airbag Inflator Market Trends:
The increasing inclination towards electric vehicles (EVs) on account of rapid urbanization and inflating income levels represent one of the primary factors driving the demand for automotive airbag inflators around the world. Moreover, rising consumer preferences for autonomous and luxury vehicles that are equipped with advanced safety features like comprehensive airbag systems due to the growing focus on driver and passenger safety and the increasing number of fatal road accidents is influencing the market positively. In addition, there is a rise in funding marketing and branding campaigns to create product awareness and brand loyalty and introduce innovative designs. This, coupled with the growing number of strategic mergers and acquisitions (M&As), partnerships, or collaborations with other firms to leverage higher market reach, is creating a positive outlook for the market. Apart from this, measures undertaken by governing agencies of numerous countries to mandate the installation of airbags in vehicles are favoring the growth of the market. Looking forward, the market value is projected to reach US$ 6.03 Billion by 2028, expanding at a CAGR of 4.33% during 2023-2028.
- Based on the type, the market has been segmented into driver, passenger, curtain, knee, pedestrian protection, and side airbags. Presently, curtain airbags hold the largest market share.
- On the basis of the operation, the market has been segregated into pyrotechnic, stored gas, and hybrid. Pyrotechnic currently accounts for the biggest share in the market.
- Based on the end user, passenger cars dominate the market, followed by commercial vehicles.
- Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being ARC Automotive Inc., Autoliv Inc., Daicel Corporation, Joyson Safety Systems, and Nippon Kayaku Co. Ltd.
|Base Year of the Analysis
||Driver Airbag, Passenger Airbag, Curtain Airbag, Knee Airbag, Pedestrian Protection Airbag, Side Airbag
||Pyrotechnic, Stored Gas, Hybrid
|Vehicle Type Covered
||Passenger Car, Commercial Vehicle
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ARC Automotive Inc., Autoliv Inc., Daicel Corporation, Joyson Safety Systems, Nippon Kayaku Co. Ltd., etc.
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