India Passenger Car Airbag Market to Grow with a CAGR of 6.43% through 2030
The growth of the India passenger car airbag market is driven by increasing safety awareness, government regulations mandating airbags, and advancements in airbag technology. These are the factors driving the market in the forecast period.
According to TechSci Research report, “India Passenger Car Airbag Market – By Region, By Competition Forecast & Opportunities, 2020-2030F”, The India Passenger Car Airbag Market was valued at USD 1035.49 Million in 2024 and is expected to reach USD 1504.61 Million by 2030 with a CAGR of 6.43% during the forecast period. The passenger car airbag market in India has witnessed significant growth, driven by increasing safety awareness, stringent government regulations, and rising automobile sales. Airbags, a critical component of vehicle safety, are gaining prominence in India's automotive landscape due to their ability to reduce fatalities and injuries during accidents. The Government of India has mandated the installation of airbags in passenger cars as part of its efforts to improve road safety. In 2019, driver airbags became mandatory, and in 2021, dual front airbags (for both driver and front passenger) were made compulsory. These regulations have boosted the demand for airbags significantly. Increasing awareness campaigns about road safety and the importance of passive safety systems have influenced consumers to prioritize vehicles with enhanced safety features. Airbags are now perceived as a standard rather than a luxury feature. With a burgeoning middle class and increasing disposable income, India has seen a steady rise in passenger car sales. The demand for entry-level and mid-range vehicles equipped with airbags is particularly notable. Global and domestic manufacturers are investing in advanced airbag technologies, such as side airbags, curtain airbags, and knee airbags, catering to the rising consumer demand for premium safety features.
The Indian market is highly price-sensitive, especially in the entry-level and mid-segment car categories. Adding airbags increases vehicle production costs, which can deter manufacturers from integrating them into low-cost models. Dependence on imported components for airbag manufacturing has exposed the market to global supply chain disruptions. Events such as the COVID-19 pandemic have highlighted vulnerabilities in sourcing and logistics. While dual airbags are now mandatory, advanced safety systems such as side and curtain airbags remain limited to high-end models. This restricts the overall market growth in the mass-market segment. Despite growing awareness in urban centers, rural consumers remain less informed about the importance of airbags, impacting overall market penetration. The India passenger car airbag market is poised for growth, supported by regulatory push and increasing safety awareness. However, challenges like cost sensitivity and supply chain issues must be addressed to ensure sustained growth. Industry players are expected to focus on innovation and localized production to make airbags more accessible across all vehicle segments..
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India Passenger Car Airbag Market is Segmented By Vehicle Type, Airbag Type, Demand Category and By Region.
The vehicle type segment of the market includes hatchbacks, SUVs/MPVs, and sedans, each playing a unique role in the automotive industry. The SUV/MPV segment has emerged as the fastest-growing segment in the Indian passenger car airbag market. This growth is fueled by evolving consumer preferences, urbanization, and an increasing focus on safety features in larger vehicles. Indian consumers are increasingly favoring SUVs/MPVs due to their versatility, larger cabin space, higher ground clearance, and rugged appeal. This shift is reflected in the growing share of SUVs in overall passenger car sales, which now account for a significant portion of the market. The implementation of stringent safety norms has accelerated the adoption of airbags in SUVs and MPVs. These vehicles often serve family and utility purposes, making safety a top priority for buyers. Advanced airbag systems, including curtain and side airbags, are becoming standard in many SUV models. With increasing disposable income, consumers are gravitating toward premium vehicles like SUVs and MPVs, which are often equipped with multiple airbags as a standard feature. The surge in demand for compact SUVs, a sub-segment of SUVs, has further driven growth. These vehicles combine affordability with advanced safety features, making them attractive to middle-class buyers.
In 2023, the fastest growing region in the India passenger car airbag market was the Southern region. This area saw significant growth due to increased vehicle sales, a growing middle class, and rising awareness about vehicle safety. The southern states, such as Tamil Nadu, Karnataka, and Telangana, are known for their expanding automotive manufacturing hubs and a higher concentration of vehicle consumers. The demand for cars with advanced safety features like airbags is increasing, driven by both consumer preferences and government regulations aimed at improving road safety. Urban areas in the South, particularly in cities like Chennai, Bangalore, and Hyderabad, have witnessed a surge in the purchase of passenger cars, especially compact SUVs and sedans. These vehicles often come with higher safety standards, including airbags as standard across multiple variants. The region's economic growth, coupled with a more affluent population, has contributed to a shift toward safer, more feature-rich vehicles. The southern region’s growth in the passenger car airbag market is also supported by an improving after-sales service network, where consumers are more likely to replace or upgrade their airbag systems. As safety continues to be a priority, the South stands out as a key driver of this market's expansion.
Major market players operating in India Passenger Car Airbag Market are:
- Toyoda Gosei Co., Ltd.
- Autoliv Inc.
- Rane Holdings Limited.
- Takata India Private Limited
- Hyundai Mobis Co., Ltd.
- Ashimori Industry Co., Ltd
- Denso Corporation
- Daicel Corporation
- Robert Bosch GmbH
- Continental AG
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"A key trend in the India passenger car airbag market is the rapid adoption of compact SUVs with advanced airbag systems, combining affordability with premium safety features. This reflects a shift in consumer priorities toward versatile vehicles offering enhanced safety, driven by rising disposable incomes and stricter government safety regulations", said Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting and research firm.
“India Passenger Car Airbag Market By Vehicle Type (Hatchback, SUV/MPV, Sedan), By Airbag Type (Front Airbag, Knee Airbag, Side Airbag, and Curtain Airbag), Demand Category (OEM, and Replacement), By Region, Competition Forecast & Opportunities, 2020-2030F”, evaluates the future growth potential of the India passenger car airbag market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Additionally, the report identifies and analyzes the emerging trends, drivers, challenges, and opportunities in the India passenger car airbag market.
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