- 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