India Car Airbag Market is projected to reach US$20 Bn in 2019, and grow at CAGR of over 42% during forecast period.
Due to rise in the number of accidents, demand for passenger car airbags is rising at a robust across the country. Also, government of India has made it mandatory for the car makers to install airbags in all the cars which would further boost demand for airbags in the country during the forecast period.
Based on airbag type, the market is segmented into front airbag, side airbag, curtain airbag and knee airbag. Front airbag segment dominates the market with the largest share as they are installed in steering wheel and the front side of passenger to protect the chest and head.
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All new models launched after October 2017 will have to endure crash tests and post Oct 2018, manufacturers will need to provide airbags and ABS (anti-locking braking system) on all models as standard. Government’s augmented focus on upgrading safety standards in cars sold in India will result in a windfall for producers of airbags.
In 2013, UK-based New Car Assessment Programme (NCAP) has conducted crash tests in which many of the bestselling models in India have failed, that made Indian government to formulate new vehicle safety assessment programme, Bharat New Vehicle Safety Assessment Program (BNVSAP) for the Indian market.
According to Government’s recent notification, ABS will be made mandatory in all the new models (with engine size above 125cc) from April 2018 onwards, while 2Ws below 125cc can either have ABS or Combined Braking System (CBS). For all the existing models, the deadline stands at April 2019.
Years Vehicles Sold in percentâ€™s (%)
2014-15 30 % of Vehicle Sold In India Had Airbags
2017 60-70 % of Vehicle Sold Are Having Airbags
2020 It Will Reach To 100% before 2020
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Major key players operating in the India Car Airbag Market include Takata, Autoliv, TRW, Toyoda Gosei, Delphi Automotive, Robert Bosch GmbH, Denso Corporation, Continental AG, Key Safety Systems, Hyundai Mobis Co. Ltd, Autoliv India Private Limited, Rane TRW Steering Systems Limited, Mobis India Limited, Ashimori India Private Limited, Daicel Chiral Technologies India Private Limited, Hyosung Corporation India Private Limited, Porcher Industries and Toray Industries India Private Limited.
Scope of India Car Airbag Market:
India Car Airbag Market by Vehicle Type:
India Car Airbag Market by Airbag Type:
India Car Airbag Market by Material Type:
India Airbag Market by Demand Category:
Key Players Operating in the India Car Airbag Market:
Robert Bosch GmbH
Key Safety Systems
Hyundai Mobis Co. Ltd
Autoliv India Private Limited
Rane TRW Steering Systems Limited
Mobis India Limited
Ashimori India Private Limited
Daicel Chiral Technologies India Private Limited
Hyosung Corporation India Private Limited
Toray Industries India Private Limited.
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