India airbag market is forecast to augment at a CAGR of around 9.5% during the forecast period. India is one of the largest automotive markets all across the globe in terms of vehicle production. In 2018, the country produced around 5.2 million vehicles. The country is one of the preferred economies by the automotive giants and auto-component manufacturers 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 Indian 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. 

India is a price-sensitive market and due to this, a number of customers don’t prefer airbags in passenger cars. Result of which, for cost-cutting manufacturer offers only driver airbag in some initial models of some hatchbacks. In the near future, a massive demand for active and passive safety equipment will be observed in the Indian market as India is among the countries, where the mortality rate due to the road accident is highest.

The Indian 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. It is due to vehicles’ additional cost of the airbag in the vehicle and government regulation related to front airbags only. By vehicle type, the market is segmented into passenger cars and commercial vehicles. Most of the market share is expected to be of passenger cars in the country during the forecast period. 

The companies which are contributing significantly in the market include Autoliv Inc., Continental AG, DENSO Corp., Hyundai Mobis Co., Ltd., Key Safety Systems, Inc., Robert Bosch GmbH, TRW Automotive Holdings Corp. and so on. The market players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market. 

Research Methodology

The market study is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts to brings authenticity to the reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for automotive companies, auto-ancillary companies, vendors, government organizations, venture capitalists for the comprehensive market analysis. The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. India Airbag Market Research and Analysis by Type
2. India Airbag Market Research and Analysis by Vehicle Type

The Report Covers

• Comprehensive research methodology of the India Airbag market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the India Airbag market.
• Insights about market determinants which are stimulating the India Airbag market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.