Automotive Airbag Inflators Market Analysis Report (2018-2023)

Market Insights

"The global automotive airbag inflators market size was estimated at USD 4.2 billion in 2017 and is likely to grow at a CAGR of 4.2% during 2018-2023 to reach USD 5.2 billion in 2023."

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An airbag inflator is part of an automobile’s airbag inflator system which generates gas to inflate the airbags. An airbag is the most important safety device in an automobile. There are different types of airbags installed in an automobile, such as driver bags, passenger bags, side bags, curtain bags, knee bags, and roll-over bags. An inflator inflates the bag with gas in about 0.02 seconds, less than a blink of an eye.

The functions of an airbag inflator are:

• Provide adequate storage for inflation material.
• Respond to the signal provided by sensors by injecting gas into the airbag in case of a collision or a crash.

During the collision, a signal is sent to the inflator unit within the airbag control unit. The igniter starts a rapid chemical reaction generating primarily nitrogen gas to inflate the airbag.

Market Dynamics

Market Drivers

The automotive airbag inflator market is driven by a host of drivers, some of whom are noted below.

• Expected growth in automotive production, especially in Asia-Pacific and the rest of the world.
• Increasing awareness about vehicle safety across the globe.
• Introduction of more bags per car.
• Introduction of more stringent passenger safety standards.

Apart from the above drivers, the faulty airbag inflators of Takata Corporation are further flaring up the demand for inflators in the replacement market.

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Segments Analysis

Vehicle Trends

"The compact cars, SUVs, MPVs, and LCVs segments accounted for the largest market share."

The market is segmented based on the vehicle type as small car, mid-size car, large car, MPV & LCV, SUV, and Others. Compact cars, SUVs, MPVs, and LCVs are expected to offer robust growth opportunities for airbag inflators in the coming years. The increasing demand for compact cars (hatchbacks) and SUVs in major Asian countries, such as China and India, and highly congested cities of the developed economies are the major drivers of the demand for inflators in these vehicle types. The introduction of more stringent passenger safety standards further elevates the demand for airbags and inflators in these vehicle types.

Inflator Trends

"The pyrotechnic inflators segment accounted for the largest market share."

The market is segmented as pyrotechnic inflators, stored gas inflators, and hybrid inflators. The pyrotechnic inflator is projected to remain the most dominant inflator type in the market during the forecast period, driven by its higher usage in frontal airbags. Hybrid inflators and stored gas inflators are likely to witness higher growth rates during the same period. Hybrid inflators offer numerous advantages over pyrotechnic inflators, such as greater performance tailoring, lower exhaust gas temperature, reduced gaseous and airborne particulates, and greater bag-fill capability.

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Regional Insights

"Asia-Pacific accounted for the largest market share."

Asia-Pacific is likely to surpass Europe to become the largest market for airbag inflators during the forecast period. China, Japan, and South Korea are likely to remain the major markets for airbag inflators in the region, whereas India is likely to be the new growth engine of the growing region’s demand for airbag inflators. China is the world’s largest light vehicle manufacturer. With its CNAP (China’s New Car Assessment Program) initiatives, the Chinese government has mandated the usage of seatbelts and frontal airbags. The number of airbags in vehicles in China is expected to reach the same level as in Europe and the USA. This has been possible due to a lot of promotional initiatives taken by the government, such as advertisements and highway hoardings.

Europe and North America are also likely to generate favorable growth opportunities in the coming years. The overall penetration of airbags is comparatively very high in North America and Europe as compared to that of Asia-Pacific, owing to the stringent passenger safety standards.

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Key Players

The supply chain of this market comprises raw material manufacturers, inflator manufacturers, distributors, airbag manufacturers, and OEMs. 

Some of the airbag manufacturers are-

• Autoliv Inc.
• ZF TRW Automotive Holdings Corp.
• Jinzhou Jinheng Automotive Safety System Co., Ltd. 

The major automotive OEMs are-

• General Motors Company
• BMW
• Toyota Motor Corporation
• Ford Motor Company

Most airbag manufacturers manufacture inflators as well. The key airbag inflator suppliers in the automotive industry are-

• Autoliv Inc.
• ZF TRW Automotive Holdings Corp.
• Daicel Corporation
• Key Safety Systems, Inc.
• Toyoda Gosei Co., Ltd. 

Both, organic as well as inorganic growth routes are strategically being evaluated by the major players for a larger pie in the market. On one side, some of the major players are incessantly expanding their existing capacities of airbag inflators in order to meet the growing demand from both OE as well as replacement market, whereas, on the other side, a few major players are performing M&A activities to quickly gain the leading position in the market.

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects automotive airbag inflators market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The automotive airbag inflators market is segmented in the following ways.

By Vehicle Type

• Compact Car
• Mid-Size Car
• Large Car
• MPV & LCV
• SUV
• Others

By Airbag Type

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

By Inflator Type

• Pyrotechnic Inflators
• Stored Gas Inflators
• Hybrid Inflators

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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