Summary

The India tire pressure sensor and airbag sensor market is set for substantial growth over the next decade. Valued at $336.83 million in 2024, the market is expected to reach $607.32 million by 2031, reflecting a robust CAGR of 8.80%. This growth is driven by factors such as rapid urbanization, technological advancements in the automotive industry, and increasing government regulations on vehicle safety. The rising demand for high-quality, high-performance safety solutions in passenger and commercial vehicles is a key indicator of this trend.

Key Drivers of Market Growth

Correlation with Automotive Sales

The Indian market for tire pressure sensors and airbag sensors is closely linked to the sales of passenger cars and commercial vehicles. Rapid urbanization and increased electrification in the automotive industry are driving the demand for energy-efficient, high-quality, and high-performance solutions. These advanced systems provide enhanced comfort and convenience for vehicle owners, boosting the market demand for tire pressure and airbag sensors.

Rising Importance of Safety

Safety has become a paramount concern for vehicle consumers in recent years. There is a growing preference for advanced products that enhance both comfort and safety. This trend is further strengthened by stringent government regulations on passenger safety, which are driving the demand for vehicles equipped with advanced safety features like airbag sensors and tire pressure sensors. The global push towards higher vehicle safety standards is expected to drive strong demand for these sensors.

Government Initiatives and Regulations

Bharat New Vehicle Safety Assessment Program (BNVSAP)

The Government of India is actively working to improve road safety through initiatives such as the Bharat New Vehicle Safety Assessment Program (BNVSAP). This program, akin to the global New Car Assessment Program (NCAP), provides vehicles with star ratings based on their safety features. The BNVSAP includes front and rear crash tests and mandates the installation of essential safety features such as airbag sensors, tire pressure sensors, and ABS in passenger cars. These regulatory measures are expected to significantly boost the market for these sensors in India.

Opportunities for Market Growth

Expanding Automotive Industry

India’s rapidly growing automotive industry presents numerous opportunities for market growth. Increased production of passenger vehicles and heightened public awareness of vehicle safety are key growth drivers. As the demand for automated luxury vehicles rises, there is a corresponding increase in the demand for domestic airbag sensors and tire pressure sensors. This trend is expected to continue, providing a substantial boost to the market.

Technological Advancements and Innovations

The automotive industry is witnessing significant technological advancements and innovations. The prevalence of smart and technologically advanced systems is growing, driven by the need for improved energy efficiency and performance. Manufacturers are focusing on developing high-quality, high-performance products that meet evolving consumer needs. The adoption of advanced technologies in vehicles, such as AI and IoT, is expected to further drive the demand for tire pressure and airbag sensors.

Regulatory Impact on Sales

Strengthening Safety Regulations

Governments worldwide, including India, have enacted stringent regulations to reduce traffic accidents and improve road safety. These regulations mandate the inclusion of essential safety features such as airbag sensors and tire pressure sensors in vehicles. Manufacturers are expanding their product lines and customizing their offerings to comply with these regulations. The Bharat New Vehicle Safety Assessment Program (BNVSAP) is a key initiative in India aimed at enhancing vehicle safety through rigorous testing and mandatory safety features. These regulatory standards are expected to boost the sale of tire pressure sensors and airbag sensors in the future.

Consumer Demand for Safety and Convenience

As consumers become more aware of the importance of vehicle safety, there is a growing demand for products that offer enhanced safety and convenience. This trend is particularly strong in the luxury vehicle segment, where consumers are willing to invest in advanced safety features. The rising demand for automated luxury vehicles in India is expected to drive the market for airbag sensors and tire pressure sensors. Manufacturers are responding by developing innovative products that offer superior performance and reliability.

Key Market Players

•Analog Devices Inc.

•Continental AG

•DENSO Corp

•Hella GmbH and Co. KGaA

•Infineon Technologies AG

•Mitsubishi Electric Corp.

•NXP Semiconductors NV

•Robert Bosch GmbH

•Toyoda Gosei Co. Ltd

•ZF Friedrichshafen AG

•Sensata Technologies, Inc

Market Segmentation

Sensor Type:

•Airbag Sensors

oMechanical

oElectrical

•Tire Pressure Sensors

Vehicle Type:

•Passenger Cars

oCompact

oMid-sized

oSUVs

oLuxury

•Commercial Vehicles

Sales Channel:

•OEM

•Aftermarket

By Region:

•Germany

•Italy

•France

•UK

•Spain

•BENELUX

•Russia

•Rest of Europe

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Table of Contents

1. Executive Summary
1.1. India Tire Pressure Sensor and Airbag Sensor Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis
2.5. COVID-19 Impact Analysis
2.5.1. Supply
2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
2.7.1. World Economic Projections
2.8. PESTLE Analysis
3. India Tire Pressure Sensor and Airbag Sensor Market Outlook, 2019-2031
3.1. India Tire Pressure Sensor and Airbag Sensor Market Outlook, by Sensor Type, Value (US$ Mn), 2019-2031
3.1.1. Key Highlights
3.1.1.1. uPA-SCID
3.1.1.2. FRG KO Mice
3.1.1.3. TK-NOG Mice
3.1.1.4. Other Models
3.2. India Tire Pressure Sensor and Airbag Sensor Market Outlook, by Vehicle Type, Value (US$ Mn), 2019-2031
3.2.1. Key Highlights
3.2.1.1. Pharmacokinetics Studies
3.2.1.2. In-vivo Liver Toxicity Testing
3.2.1.3. Drug Metabolism Studies
3.2.1.4. Others
3.3. India Tire Pressure Sensor and Airbag Sensor Market Outlook, by Sales Channel, Value (US$ Mn), 2019-2031
3.3.1. Key Highlights
3.3.1.1. Pharmaceutical Companies
3.3.1.2. Biotechnology Companies
3.3.1.3. Contract Research Organizations (CRO’s)
3.3.1.4. Academic & Research Institutes
4. Competitive Landscape
4.1. By Sensor Type vs by Vehicle Type Heat map
4.2. Company Market Share Analysis, 2024
4.3. Competitive Dashboard
4.4. Company Profiles
4.4.1. Continental AG
4.4.1.1. Company Overview
4.4.1.2. Product Portfolio
4.4.1.3. Financial Overview
4.4.1.4. Business Strategies and Development
4.4.2. DENSO Corporation
4.4.2.1. Company Overview
4.4.2.2. Product Portfolio
4.4.2.3. Financial Overview
4.4.2.4. Business Strategies and Development
4.4.3. Hella GmbH and Co. KGaA.
4.4.3.1. Company Overview
4.4.3.2. Product Portfolio
4.4.3.3. Financial Overview
4.4.3.4. Business Strategies and Development
4.4.4. Infineon Technologies AG.
4.4.4.1. Company Overview
4.4.4.2. Product Portfolio
4.4.4.3. Financial Overview
4.4.4.4. Business Strategies and Development
4.4.5. Mitsubishi Electric Corporation
4.4.5.1. Company Overview
4.4.5.2. Product Portfolio
4.4.5.3. Financial Overview
4.4.5.4. Business Strategies and Development
4.4.6. NXP Semiconductors NV.
4.4.6.1. Company Overview
4.4.6.2. Product Portfolio
4.4.6.3. Financial Overview
4.4.6.4. Business Strategies and Development
4.4.7. Robert Bosch GmbH
4.4.7.1. Company Overview
4.4.7.2. Product Portfolio
4.4.7.3. Financial Overview
4.4.7.4. Business Strategies and Development
4.4.8. Toyoda Gosei Co. Ltd
4.4.8.1. Company Overview
4.4.8.2. Product Portfolio
4.4.8.3. Financial Overview
4.4.8.4. Business Strategies and Development
4.4.9. ZF Friedrichshafen AG
4.4.9.1. Company Overview
4.4.9.2. Product Portfolio
4.4.9.3. Financial Overview
4.4.9.4. Business Strategies and Development
4.4.10. Sensata Technologies, Inc
4.4.10.1. Company Overview
4.4.10.2. Product Portfolio
4.4.10.3. Financial Overview
4.4.10.4. Business Strategies and Development
5. Appendix
5.1. Research Methodology
5.2. Report Assumptions
5.3. Acronyms and Abbreviations