India passenger car airbag market is expected to grow at a CAGR of around 10% during the forecast period. The country is one of the largest automotive producers all across the globe. In 2018, the country produced around 4 million passenger cars which is around 78% of the total vehicle production (passenger cars and commercial vehicles). The major factor for the growth of the market in the country includes rising disposable income of the people, increasing awareness related to road safety, high prevalence of road accidents and cohesive government regulations. The government has mandated to install at least one airbag in the vehicle due to which the automaker has to introduce airbags in their lower segment cars also.
Moreover, the country is one of the preferred economies by most of the major automotive and auto-ancillary companies for setting up production facilities. A number of companies had collaborated with the local automotive manufacture as per government regulation for the export of the vehicles. The India automotive and auto-ancillary industry is supported by various factors such as availability of skilled labor at low cost, robust R&D centers, and low-cost steel production.
The India passenger car airbag market is studied on the basis of type and vehicle type. By type, the market is further divided into front airbag, side airbag, curtain airbag, and knee airbag. During the forecast period, the front airbag segment is expected to have a major market share with a significant growth rate. By vehicle type, the market is segmented into Hatchback, Sedan, and SUV. The hatchback segment is expected to have a significant market growth during the forecast period.
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India Passenger Car Airbag Market Segmentation
By Type
- Front Airbag
- Side Airbag
- Curtain Airbag
- Knee Airbag
By Vehicle Type
- Hatchback
- Sedan
- SUV
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Company Profiles
- Autoliv Inc.
- Continental AG
- Daicel Corp.
- DENSO Corp.
- Hyundai Mobis Co., Ltd.
- Key Safety Systems, Inc.
- NXP Semiconductors N.V.
- Robert Bosch GmbH
- Toyoda Gosei Co., Ltd.
- TRW Automotive Holdings Corp.
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