Automotive Airbag Inflator Market Trends, Growth Drivers, Revenue, Key Manufacturers, Challenges, Opportunities and Future Competition Till 2033


Automotive Airbag Inflator Market Trends, Growth Drivers, Revenue, Key Manufacturers, Challenges, Opportunities and Future Competition Till 2033: SPER Market Research

 Published: Jul-2023
 Author: SPER Analyst

Global Automotive Airbag Inflator Market is projected to be worth USD 22.85 billion by 2033 and is anticipated to surge at a CAGR of 3.79%.

 An automotive airbag inflator is a critical safety device found in modern vehicles. During a collision, it works by producing gas that quickly inflates an airbag. The inflator is strategically mounted in a number of places, including the dashboard, door panels, and steering wheel, and it is activated by crash-detection sensors. It functions using a variety of mechanisms, such as mechanical, pyrotechnic, or hybrid systems. This adaptable part is used in a variety of applications, such as roof structures, inflatable seat belts, and safety barriers for off-road vehicles. Stored gas inflators and hybrid inflators are the two main varieties of airbag inflators. When activated, stored gas inflators release nitrogen, which is usually compressed gas, into the airbag. Hybrid inflators combine a pyrotechnic device and stored gas, using the latter for initial inflation and the former to increase the force of the inflation.

Global Automotive Airbag Inflator Market Driving Factors and Challenges

Driving forces in the global automotive airbag inflator market include:
Several factors drive the global market for automobile airbag inflators. The market for automotive airbag inflators has been greatly bolstered, first and foremost, by rising awareness of vehicle safety and strict government rules requiring the installation of airbags in automobiles. Safety features in cars are being prioritised by consumers more and more, which helps the market expand. The relevance of airbag systems has also been highlighted by the increasing number of traffic fatalities and accidents worldwide, which is driving the industry. The adoption of advanced airbag systems has also been influenced by technological developments in airbag inflator designs, such as dual-stage and multi-stage inflators, which give improved protection during various collision scenarios. Additionally, the market has benefited from the expansion of the car sector and rising vehicle manufacturing in emerging markets.

Challenges facing the global automotive airbag inflator market:
The market for automobile airbag inflators faces some obstacles even with the favourable development prognosis. One of the main obstacles is the expensive cost of sophisticated airbag inflator technology, which can prevent their adoption in car models with a tighter budget. Cost constraints, particularly in price-sensitive regions, might impede market expansion.

Additionally, airbag inflator recalls and safety issues associated to them have been a major difficulty for manufacturers. To retain consumer confidence and regulatory compliance, quality control and adherence to stringent safety requirements become essential. 

Impact of COVID-19 on Global Automotive Airbag Inflator Market 
The worldwide market for vehicle airbag inflators was significantly impacted by the COVID-19 outbreak. Due to manufacturing closures, supply chain hiccups, and decreased customer demand during lockdowns and restrictions, the automotive industry experienced problems. Demand for airbag inflators decreased along with falling auto production and sales. Additionally, the installation of airbag systems was influenced by consumer financial restraints and economic uncertainty when it came to the purchasing of new vehicles. The market for airbag inflators is anticipated to increase as the automotive industry progressively recovers, with less constraints and higher immunisation rates. Furthermore, the market's recovery is likely to be fueled by increased government regulations and a focus on car safety.

Automotive Airbag Inflator Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Aptiv PLC, ARC Automotive, Inc., Autoliv Inc, Daicel Corporation, Joyson Safety System, Nippon Kayaku, Robert Bosch GmbH, Toyoda Gosei Co. Ltd, TRW Automotive.

Global Automotive Airbag Inflator Market Segmentation:

By Product Type: Based on the Product Type, Global Automotive Airbag Inflator Market is segmented as; Hybrid Inflator, Pyrotechnic Inflator, Stored gas inflator.

By Component Type: Based on the Component Type, Global Automotive Airbag Inflator Market is segmented as; Airbag Inflator Filter, Airbag Tubes.

By Vehicle Type: Based on the Vehicle Type, Global Automotive Airbag Inflator Market is segmented as; Light Commercial Vehicle, Passenger Vehicle. 

By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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