Increasing Awareness of Vehicle Safety to Benefit the Automotive Airbag Inflator Companies, 2022

With advancements in the automotive industry, there are many changes taking place in the safety of cars and drivers. Driver’s safety is gaining more attention nowadays, which is increasing the demand for airbags. With new safety regulations, automotive airbag inflators are gaining traction. Necessary regulations for vehicle safety and consumer awareness regarding traffic safety have led to increase in the demand for automotive airbag inflators and technological advancements. As per a report by Fortune Business Insights™, the market for automotive air bag inflator was valued at USD 4.33 billion in 2021 and is set to reach USD 6.74 billion by 2028 at a CAGR of 6.2% during the 2021-2028 period. New and existing automakers have the responsibility to promote safety and make it necessary for people to buy the best quality airbags, which can lead to an increase in the automotive airbag inflator market share and size. 

COVID-19 Pandemic to Impact Market Growth Due to Limitations in Supply Chains

The inception of the COVID-19 pandemic led to the hampering of all the industries across the globe. Value and supply chains of various industries were heavily disturbed. This market is no exception, as insufficient supply of raw material for producing airbag inflators has disrupted the production. Automakers stopped production due to lack of parts and just-in-time production strategy was adopted, which led to reduced workforce. 

The market has experienced a considerable amount of industrial developments in its way. In July 2021, Autoliv, Inc., a Swedish automotive safety supplier opened a new sound and vibration laboratory at Ogden Technical Centre. It was specifically opened to design and develop automotive safety restraint equipment such as airbags, steering wheels, seat belts, and others. In addition, Autoliv established a new automotive airbag inflator manufacturing plant in Chennai, India.

Fortune Business Insights™ Reports Top 5 Automotive Air Bag Inflator Companies in the Market:

1. Autoliv Inc.

Autoliv Inc. is a Swedish-American-based safety manufacturer founded in 1997 in Vårgårda, Sweden. Headquartered in Stockholm, Sweden, it deals with airbag systems, seatbelts, steering wheels, and pedestrian protection systems. Autoliv is one of the oldest and world’s leading companies in safety systems that operates in two business divisions, active safety and passive safety.

It runs its business and has operational plants in 27 countries covering all regions and has 10 technological centers across the globe. In March 2021, Autoliv built a new airbag inflator manufacturing plant in Chennai, Mexico. The new inflator plant will inspire global and local OEMs to expand their business operations in India.

2. Robert Bosch GmbH

Robert Bosch GmbH is one of the leading automotive parts suppliers that specializes in advanced mobility and systems for passenger and commercial vehicles and industrial technology. Founded in 1886, the company is based in Stuttgart, Germany and has over 440 fully consolidated subsidiaries and regional companies in more than 60 countries. It offers a range of products such as airbag systems, infotainment, camera, sensors, wipers, electric motors, batteries, steering wheels, infotainment, transmission technology, control units, actuator, powertrain, and valves. 

In December 2019, Robert Bosch launched its e-call solution in India. This solution is a vehicle emergency call system that allows quicker reaction in any accident or emergency, helping in saving lives. In June 2021, Renault Group and Bosch Automotive Service Solutions partnered to develop a next-generation diagnostic automobile repair tool referred to as the Alliance Diagnosis Tool. Robert Bosch also announced the start of a USD 1.2 billion semiconductor factory in Germany, a record investment by the world's largest automotive supplier as it aims to equip the latest electrified and self-driving vehicles.

3. Daicel Corporation

Daicel Corporation is a leading manufacturer based in Japan with 75 group companies across the globe. It specializes and supplies airbag inflators, electric cooling water pumps for PHEV vehicles, gas generators for seatbelts, airbag systems, PHEV electricity supply connectors, lithium-ion batteries, bearings, machine tools, electronic control devices, and home accessory devices.

In January 2021, Daicel Corporation planned to build an airbag inflator plant in Chennai. During phase I, the company will invest around USD 30.63 million. It will be the first airbag inflator manufacturing plant in India by Daicel Corporation.

4. Toyoda Gosei Corporation Ltd.

Toyoda Gosei Co. Ltd. is the world’s leading manufacturer of automotive and industrial parts. The company is based in Japan, with its headquarters in Aichi. It was founded in 1949, making it one of the oldest manufacturers in the market. The company now has six groups of companies spread across 17 countries. It specializes in weather strips, functional parts, interior and exterior products, and safety systems.

In January 2021, Panasonic Automotive introduced a new augmented-reality HUD that can display objects in the road, lane edges, and similar other information to drivers. It is equipped with artificial intelligence, and thus can share crucial data such as determining if something is a trash can, pedestrian, or vehicle. The system can also adjust every element if the driver’s head is turned in less than 300 milliseconds.

5. Joyson Safety System

Joyson Safety System (JSS), formerly known as Key Safety Systems (KSS) is an American-based company, which is financed by Chinese investors and headquartered in Michigan, U.S. The company develops and manufactures automotive safety systems. It has presence in 76 locations in 25 countries. It is a major global supplier of mobility safety systems, including airbags, seatbelts, steering wheels, electronic safety systems, and child restraints.

In June 2019, Joyson Safety Systems announced the formation of a tri-party joint venture, Joyson ANAND Abhishek Safety Systems Private Limited (JAASS), in India to merge its two joint ventures. It will serve as a platform for the safety products business in India, allowing it to grow its product range and gain market share in one of the world's fastest-growing automotive markets. In April 2020, JSS partnered with Ford to develop reusable medical isolation gowns and respirator belts for healthcare workers, first responders, and patients fighting the coronavirus.

Can Hybrid Inflator Be the Future of Automotive Airbag Inflator?

Hybrid inflators work on the principles of the combination of pyrotechnic technologies and stored gas. It uses compressed gas and combustion reactions in a single device. With rising advancements in design and production, hybrid inflators are being preferred for passenger, knee, and curtain airbags. They are more eco-friendly in nature when compared to pyrotechnic inflators. Consumer awareness for passive safety systems has increased, which has made consumers pay premium prices for new and advanced safety systems, which will lead to the market’s growth.