The 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.
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
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
The Report Covers
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
2.3. Rules & Regulations
3. Competitive Landscape
3.1. Company Share Analysis
3.2. Key Strategy Analysis
3.3. Key Company Analysis
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
4. Market Determinants
4.1. Motivators
4.2. Restraints
4.3. Opportunities
5. Market Segmentation
5.1. India Passenger Car Airbag Market by Type
5.1.1. Front airbag
5.1.2. Side airbag
5.1.3. Curtain airbag
5.1.4. Knee airbag
5.2. India Passenger Car Airbag Market by Vehicle Type
5.2.1. Hatchback
5.2.2. Sedan
5.2.3. SUV
6. Company Profiles
6.1. Autoliv Inc.
6.2. Continental AG
6.3. Daicel Corp.
6.4. DENSO Corp.
6.5. Hyundai Mobis Co., Ltd.
6.6. Key Safety Systems, Inc.
6.7. NXP Semiconductors N.V.
6.8. Robert Bosch GmbH
6.9. Toyoda Gosei Co., Ltd.
6.10. TRW Automotive Holdings Corp.