India Airbag Market was valued US$ XX Mn in 2018 and is expected to reach US$ XX Mn by 2026, at a 2.4% CAGR of around during a forecast period.
The world’s largest airbag suppliers are setting up plants and ramping up volume in India, observing a US$ 2 Bn opportunity, thanks to tougher rules aimed at improving one of the global worst road-safety records.
The report covers all the Indian trends and technologies playing a major role in the growth of the airbag market over the forecast period. It highlights the drivers, restraints, opportunities, and challenges expected to influence the market growth during 2019-2026. The Indian market for airbag size expected to continue witnessing growth during the forecast period because of the increasing safety concerns and the stringent vehicular safety norms introduced by the government. Additionally, the increase in the number of accidents is also bolstering the airbag market growth in India.
Based on the demand category, The OEM segment is dominating the airbag market and valued around US$ XX Bn in 2018. The airbag industry has too much dependency upon OEMs, which makes it disposed to automotive market variations. Because of the high growth rate in the airbag industry, various companies desire to venture into the airbag market, so making it immensely competitive and gradually intensifying rivalry amongst the Indian market players, which leads to lower bargaining power of airbag module companies.
By airbag type, the front airbag dominates the market with the largest XX% share because of the growing adoption of front airbags in the side of the passenger to protect the chest and head during an accident.
The government’s increased emphasis on upgrading safety standards in cars sold in India will result in a windfall for manufacturers of airbags. After several of the bestselling models in India failed crash tests conducted by UK-based NCAP (New Car Assessment Programme) in 2013, the government formulated a new vehicle safety assessment program, BNVSAP (Bharat New Vehicle Safety Assessment Program) for the Indian market.
As per the current car safety standards, the Worldwide New Car Assessment Programme rates India-3, Brazil-5, and China-7 on a scale of one to 10. This rating is given on the basis of factors such as the level of reach of different technologies in the market, the state of legislation, and customer awareness levels. The Indian government has planned to launch a US$ XX Mn independent crash test center in 2018.
The objective of the report is to present comprehensive analysis of India Airbag Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding India Airbag Market dynamics, structure by analyzing the market segments, and project the India Airbag Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the India Airbag Market make the report investor’s guide.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
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Scope of the India Airbag Market
India Airbag Market, By Vehicle Type
• Hatchback
• Sedan
• Multi-Purpose Vehicle
• Sports Utility Vehicle
• Light Commercial Vehicles
India Airbag Market, By Airbag Type
• Front Airbag
• Knee Airbag
• Side Airbag
• Curtain Airbag
India Airbag Market, By Demand Category
• OEM’s
• Aftermarket
Key players operating in the India Airbag Market
• 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
This Report Is Submitted By : Maximize Market Research Company
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