India Airbag Market: Industry Analysis and Forecast 2022-2027: By Vehicle Type, Airbag Type, Demand Category, and Region.

Indian Airbag Market is anticipated to reach US$ 6.92 Bn by 2027 from US$ 2.98 Bn in 2021 at a CAGR of 12.8 % during a forecast period.

Automotive airbags are passenger restraint devices that assist in protecting the passenger's head and chest in the event of a vehicle accident or crash. The airbags are designed to respond and inflate in milliseconds, providing a cushioning effect for occupants in the car. Because India is a price-sensitive market, many buyers do not want airbags in passenger automobiles. As a result, the manufacturer only offers driver airbags in the early variants of some hatchbacks to save money. In India, there is a huge demand for active and passive safety devices.



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In the report, 2020 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
India Airbag Market Dynamics

In terms of car manufacturing, India is one of the world's major automotive marketplaces. Around 5.2 million automobiles were produced in the country in 2018. For building up production facilities, the country is one of the favoured economies by automotive titans and auto-component makers. According to government regulations, a number of firms worked with a local car manufacturer to export vehicles. Various factors, such as the availability of low-cost trained labour, strong R&D centres, and low-cost steel manufacturing, help the Indian automotive and auto-ancillary sector.

The introduction of severe vehicle safety requirements and regulations in India is driving the airbag market. Secondly, an increase in the number of road accidents is expected to boost market growth throughout the forecast period. Over the forecast period, the market's growth is likely to be aided by rising demand for a safer driving experience. Demand for airbags fell when automobile manufacturing fell as a result of COVID-19, but it is expected to rebound once the government of India implements new restrictions.

Airbags raise the car's safety quotient, but they also increase the cost of the vehicle to some amount. The Indian automobile airbag industry is being held back by high upfront costs and expensive replacement costs. Airbags are classified as non-recyclable materials under the Government of India's (GOI) end-of-life vehicle (EVL) disassembly and recycling guidelines. This makes it a non-sustainable activity and a waste of resources.
India Airbag Market Segmentation Analysis

By Airbag Type, The automobile airbag and seatbelt industry's fastest-growing sector is curtain airbags. They're commonly positioned on the roof above the side window, on the side of the seat or the door. Curtain airbags protect the adult's head in the case of a collision. Curtain airbags have been shown to minimise the probability of a driving death by 45 per cent. Pedestrian airbags have been increasingly popular in recent years. When a car is poised to collision with a pedestrian, these are immediately deployed. In the forecast period, this market is expected to be driven by rising income levels and more safety awareness.

By Demand Category, during the forecast period, the OEMs segment is expected to grow at the fastest XX per cent CAGR. Automotive OEMs (original equipment manufacturers) are expected to provide affordable airbags in a cost-sensitive market like India to grab the untapped market. The rising cost of airbags is likely to raise vehicle prices, putting pressure on OEM margins. This, in turn, forces suppliers to cut costs, making the value chain more competitive.

Report Objectives:

• Landscape analysis of the India Airbag Market
• competitive benchmarking
• Past and current status of the industry with the forecasted market size and trends
• Evaluation of potential key players that include market leaders, followers, and new entrants
• Technology trends
• The potential impact of micro-economic factors on the market
• External and Internal factors affecting the market have been analyzed

The report also helps in understanding the India Airbag Market dynamics, structure by analysing the market segments project the India Airbag Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the India Airbag Market make the report investor’s guide.
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India Airbag Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 2.98 Bn


Forecast Period 2021 to 2027 CAGR:
12.8 %
Market Size in 2027:
US $ 6.92 Bn.


 Segments Covered:
by Vehicle Type
• Hatchback
• Sedan
• Multi-Purpose Vehicle
• Sports Utility Vehicle
• Light Commercial Vehicles


by Airbag Type
• Front Airbag
• Knee Airbag
• Side Airbag
• Curtain Airbag


by Demand Category
• OEM’s
• Aftermarket



India Airbag Market by Region
• North America
• Asia pacific
• Europe
• The Middle East and Africa
• South America
India Airbag Market: Key Players
• Autoliv Inc.
• Takata Corporation
• ZF India Pvt. Ltd.
• Denso Corporation
• Joyson Safety Systems
• Robert Bosch GmbH
• Toyoda Gosei Co. Ltd.
• Hyundai Mobis Co.
• Nihon Plast
• Ashimori
• East Joy Long
• Rane TRW Steering Systems Limited
• MOBIS India Limited
• Bosch Limited
• Continental India Private Limited
• Daicel Chiral Technologies India Private Limited

Frequently Asked Questions

1. What is the projected market size & growth rate of the India Airbag Market?
Ans- India Airbag Market was valued at USD 2.98 billion in 2021 and is projected to reach USD 6.92 billion by 2027, growing at a CAGR of 12.8% during the forecast period.

2. What are the key driving factors for the growth of the India Airbag Market?
Ans- The introduction of severe vehicle safety requirements and regulations in India is driving the airbag market.

3. Which Region accounted for the largest India Airbag Market share?
Ans- West India accounted for the largest India Airbag Market share.

4. What are the top players operating in India Airbag Market?
Ans- Autoliv Inc., Takata Corporation, ZF India Pvt. Ltd., Denso Corporation, and Joyson Safety Systems.