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The automotive airbag inflator market is a dynamic and evolving sector within the broader automotive industry. Market dynamics in this space are influenced by various factors, including advancements in technology, regulatory changes, consumer preferences, and the overall economic landscape. One of the primary drivers of growth in the automotive airbag inflator market is the increasing focus on passenger safety. Governments and regulatory bodies around the world are imposing stringent safety standards, pushing automotive manufacturers to integrate advanced safety features into their vehicles.
Technological advancements play a crucial role in shaping the market dynamics of automotive airbag inflators. As research and development efforts continue to enhance the performance and reliability of airbag systems, manufacturers are constantly introducing innovative solutions. For instance, the shift towards smart airbag systems that can adapt to different crash scenarios is gaining traction. This technological evolution not only improves the effectiveness of airbags but also addresses specific safety needs, contributing to market growth.
Consumer preferences also significantly impact the market dynamics of automotive airbag inflators. With a growing awareness of safety features and an increasing emphasis on vehicle safety ratings, consumers are more likely to choose vehicles equipped with advanced airbag systems. As a result, automakers are incorporating airbag technologies as a key selling point to attract safety-conscious consumers. This consumer-driven demand is a vital factor influencing the market dynamics and shaping the strategies of automotive airbag inflator manufacturers.
Furthermore, the economic landscape plays a pivotal role in the market dynamics of automotive airbag inflators. Economic conditions can influence vehicle production rates, impacting the overall demand for airbag inflators. During periods of economic growth, consumers tend to invest in new vehicles, leading to increased production and sales of airbag-equipped cars. Conversely, economic downturns may result in reduced vehicle sales and production, affecting the demand for airbag inflators. Therefore, market players closely monitor economic trends to adapt their strategies accordingly.
Globalization also contributes to the market dynamics of automotive airbag inflators. The interconnected nature of the automotive industry means that changes in one region can have a ripple effect on the entire market. Manufacturers often need to navigate varying regulatory frameworks, cultural preferences, and economic conditions across different regions. This complexity adds an additional layer of dynamism to the market, requiring adaptability and strategic planning from industry participants.
In conclusion, the market dynamics of the automotive airbag inflator market are multifaceted and continually evolving. Technological advancements, regulatory changes, consumer preferences, economic conditions, and globalization all play integral roles in shaping the trajectory of this market. As safety concerns and technological innovations continue to drive the demand for advanced airbag systems, manufacturers in this space must stay agile and responsive to the ever-changing dynamics of the automotive industry.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | (2022 to 2030 |
Automotive Airbag Inflators Market Highlights:
Automotive Airbag Inflators Market Scenario
The biggest concern with high performance and high-end automobiles is that of driver safety. Earlier driver safety would include features such as instant brakes, windshields, robust and strong vehicle body, large diameter and through in the chassis. With greater emphasis on consumer safety in general, equal attention was given to vehicle performance and driver well-being. The need for developing different types of airbags was to protect the life of all the passengers inside the moving vehicle under any situation. This thought was a deviation from the earlier provided airbag mechanism, which involved thus protecting the life of the driver (and sometimes the person sitting adjacent to the driver).
There are many factors responsible for the growth of the automotive airbag inflator market. Firstly there is an increased awareness of traffic and vehicular safety amongst the consumers. Secondly, today’s automotive market is a buyer-centric market. Hence to remain relevant and stay in the competition, automotive manufacturers try to provide different and unique features at competitive prices. Thirdly, automakers need to create a brand image that goes beyond just car making and present to the world that they are concerned about people’s well-being, making it morally binding for them to provide the best quality airbags for consumer safety. Thus, the overall global automotive airbag inflator market is expected to grow with a CAGR of approximately 4% from 2022-2030.
Automotive Airbag Inflator Market, By Segmentation:
On the basis of the inflator type, the most commonly used is the pyrotechnic inflator. This type of inflator involves using a self-sustained material capable of undergoing exothermic chemical reactions to produce sufficient thrust of gas. This gas helps in inflating the airbag. Owing to the low cost of manufacture and high production rates, this inflator type is preferred. On the basis of the airbag position, the most commonly used is the frontal type. This airbag position ensures maximum oncoming impact absorption while requiring the least time for integrating in the dashboard mechanism.
Automotive Airbag Inflator Market Key Players
- ARC Automotive, Inc. (U.S.)
- Daicel Corporation (Japan)
- Jinzhou Jinheng Automotive Safety System Co., Ltd. (China)
- Takata Corporation (Japan)
- Autoliv Inc. (Sweden)
- Toyoda Gosei Co., Ltd. (Japan)
- Key Safety Systems (U.S.)
- TRW Automotive (U.S.)
- Aptiv PLC (U.S.)
- And others include Toyoda Gosei Co., Ltd. (Japan)
- Key Safety Systems (U.S.)
- TRW Automotive (U.S.)
- Aptiv PLC (U.S.).
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. In the North America market (U.S. and Canada in particular), the trend of big vehicles (SUV and mini trucks) has been consistent for a long time. People here generally prefer large personal vehicles over the sparsely distributed public transport system. With more high-performance cars plying on the roads, the probability of traffic-related mishaps is quite high. Hence, this region is always a potentially strong market for this system.
In the Asia Pacific market, the sheer combined population of emerging economies – India and China, is about ‘one third’ of the total world population. Additionally, both these countries have an ever-growing middle class in need of a personal vehicle. Thus Asia Pacific region, in general, is going to be the next automotive hub of the world, requiring enhanced safety features like airbags. The Europe region, with its near century-old car manufacturing facilities, have, some of the best automobiles coming out of its stable. Such high-end cars definitely require increased driver safety features such as airbags.
The report for Global Automotive Airbag Inflator Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Recent Developments:
September 2023: US auto safety regulators has insisted that the two companies providing ARC Automotive and Delphi Automotive with fifty-two million air bag inflators for automobiles must make a recall of the products as they had a tendency to explode, throwing out dangerous metal fragments.
Firstly, back in May, The National Highway Traffic Safety Administration asked ARC for a voluntary recall which they rejected. On Tuesday, the agency announced an initial decision along with setting up a public meeting on October 5 to pressure them into making such a recall.
Should it be successful in its bid to have this product recalled, it would be seen as one of the nation’s largest recalls ever made.
NHTSA is requesting that all these inflators be recalled that were used from 2000 through early 2018 by twelve automakers including General Motors (GM.N), opens new tab Ford Motor (F.N) , opens new tab Stellantis (STLAM.MI) , opens new tab Tesla (7203.T) , opens new tab Toyota Motor (7203.T) , opens new tab Hyundai (005380.KS) , opens new tab Kia (000270.KS) , opens new tab Mercedes-Benz (MBGn.DE) , opens new tab BMW (BMWG.DE) , opens new tab and Volkswagen (VOWG_p.DE), opens new tab .
Defective airbag inflators are those whose rupture happens upon actuation; consequently, they both fail to protect vehicle occupants as they should and at the same time themselves pose an unreasonable risk of severe bodily harm or even death.
ARC declined NHTSA’s tentative conclusion that there was a defect in May. There was no immediate comment from ARC on Tuesday evening.
In January 2018,NHTSA announced that weld slag detection devices had been installed at ARC on inflator manufacturing lines.
The agency said that it does not know of any problems in ARC inflators made since the installation of these tools. NHTSA said that it was aware of seven confirmed cases of inflator ruptures in US vehicles considered by it for a recall, involving a total of seven injuries and one death.
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