India Car Airbag Market Outlook and Opportunities in Growing Regions

The rising prevalence of road accidents and the increasing awareness amongst the people about passenger and vehicle safety are some of the key factors fuelling the rising demand for airbags in cars in India. The vehicular population in the country has tripled over the last decade and this is one of the major factors responsible for the heavy road traffic congestion in the country. Moreover, the negligible growth in the road density in many cities and towns has contributed significantly toward the increasing incidence of road accidents in the country.

The other major factor responsible for the rising incorporation of airbags in cars in India is the presence of stringent government policies pertaining to the adoption of airbags in cars in the country. Owing to the increasing number of road accidents, the government and various other regulatory bodies are increasingly enacting strict measures and regulations for mandating the adoption of airbags, even in the low and medium-range cars in the country. Due to these factors, the Indian car airbag market is predicted to register huge growth during the forecast period (2020—2030).

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In India, airbags are incorporated in multiple types of vehicles— sports utility vehicle (SUV), sedan, and hatchback. Out of these vehicles, the SUVs registered the highest adoption of airbags during the historical period (2014—2019). This is mainly credited to the rising integration of various types of passenger safety features in these vehicles. However, owing to the mushrooming sales of the hatchback cars in the country, these vehicles are expected to record the fastest growth in the adoption of airbags during the forecast period.

There are mainly four types of car airbags in India— side, knee, curtain, and front airbags. Amongst these, the side airbags are expected to register faster growth in adoption in vehicles during the forecast period. Similarly, the adoption of front airbags will increase at a rapid rate in vehicles in the forthcoming years. This is ascribed to the fact that the front and side airbags are incorporated in all types of vehicles as compared to the knee and curtain airbags, which are mostly adopted in the luxury cars, and are, therefore, expected to observe huge sales in the coming years.

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Hence, it can be said with certainty that the adoption of airbags will shoot-up in the cars in India in the upcoming years, on account of the rising incidence of road accidents and increasing enactment of policies and regulations aimed at promoting the adoption of airbags in cars in the country by the government and other regulatory bodies.