India Passenger Car Airbag Market to Grow with a CAGR of 6.43% through 2030
The India passenger car airbag market is driven by increasing vehicle
safety regulations, rising consumer awareness about safety features, and the
growing demand for premium vehicles. These factors are encouraging
manufacturers to adopt advanced airbag technologies. Enhanced safety norms and
technological advancements are the factors driving the market in the forecast
period.
According to TechSci Research report, “India Passenger Car
Airbag Market – Industry Size, Share, Trends, Opportunity, and Forecast, 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 India passenger car
airbag market is seeing substantial expansion driven by increased emphasis on
vehicle safety. With stricter government policies mandating airbags in cars,
automakers are responding by integrating advanced airbag systems. These
regulations are accompanied by a growing awareness of road safety, with airbags
becoming a key element in reducing crash-related injuries and fatalities. The
market's growth is supported by rising demand for premium vehicles featuring
advanced safety technology. As consumers prioritize safety, automakers are
equipping vehicles with a variety of airbags, including side, curtain, and knee
airbags, in addition to standard frontal airbags. The introduction of
multi-functional airbag systems, designed to protect occupants during both
frontal and side collisions, is a notable trend. Furthermore, the integration
of smart sensors and crash detection technology ensures more efficient and
timely airbag deployment.
While the increasing
middle-class population and higher disposable incomes present growth
opportunities, challenges remain. The cost of airbag production and the limited
awareness of their benefits among lower-income groups may slow down adoption
rates. The competition from other safety technologies also poses a challenge,
prompting manufacturers to innovate and meet the evolving needs of consumers.
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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. Hatchbacks are known for their compact design and practicality, making them popular in urban environments where space is limited. These vehicles offer versatility with a larger trunk space and easy maneuverability, catering to consumers who prioritize efficiency and convenience. The simplicity of hatchback design often results in lower maintenance costs and better fuel economy, which appeals to a wide range of consumers, especially in densely populated areas. SUVs and MPVs, on the other hand, cater to customers seeking more space and higher performance. These vehicles provide increased ground clearance and larger interiors, making them ideal for family use, off-road capabilities, and long-distance travel. SUVs often come with enhanced features, including advanced safety systems and entertainment options, attracting customers looking for more luxurious and spacious vehicles. MPVs, which focus on comfort and seating capacity, are typically chosen for their ability to accommodate larger families and groups, offering a practical solution for those needing ample interior room.
Sedans are recognized for their sleek design, comfort, and smooth driving experience. With a lower center of gravity compared to SUVs, sedans provide better handling and fuel efficiency. Their balanced design appeals to customers who desire a blend of performance and luxury. The sedan market often includes both mid-range and premium models, catering to a broad spectrum of consumers looking for style, efficiency, and refined features. Each vehicle type meets different consumer needs, contributing to the diverse automotive landscape.
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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"The growing demand
for passenger cars in India is being driven by factors such as increased
urbanization, rising consumer awareness about safety features, and a shift
towards higher-end vehicles equipped with advanced safety systems. As consumers
prioritize safety and comfort, the adoption of airbags in passenger cars is
accelerating, particularly in response to stricter safety regulations and
evolving government mandates. Furthermore, the increasing preference for
electric vehicles (EVs) in the passenger car segment is contributing to the
demand for airbags, as these vehicles also require enhanced safety systems
tailored to their specific design and operational characteristics. Government
initiatives promoting vehicle safety and the push for sustainable mobility are
further boosting the market for passenger car airbags, leading to significant
growth in the sector," 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, By 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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