Airbag market could potentially touch Rs. 19-23 billion by FY 2019 : ICRA

  • New safety standards is likely to increase usage of airbags in Passenger Vehicles (PV) exponentially 
  • Implementation of ABS in 2Ws also presents a sizeable opportunity for select auto component majors
  • According to ICRA New Safety standards for Passenger Vehicle by 2017-18 is  likely to see increase usage of Air-Bags and introduction  ABS in Two Wheelers will also present a sizeable opportunity.
  • Airbag market could potentially touch Rs. 19-23 billion by FY 2019
  • Most developed markets are expected to introduce ABS in motorcycles over the next few years
  • Indian Automotive industry is likely to upgrade to new vehicle safety standards by 2017-19
  • India is likely to have its own safety standards in the near-term

ICRA Note on Automobiles-Safety Standard Regulations, June 06, 2016