India Tire Pressure Sensor and Airbag Sensor Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Country: (India)

India Tire Pressure Sensor and Airbag Sensor Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Country: (India)

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

Factors Driving Market Growth

Correlation with Automotive Sales

The Indian market for tire pressure sensors and airbag sensors is closely tied to the sales of passenger cars and commercial vehicles. The proliferation of smart cities and advanced technological systems due to rapid urbanization and increasing electrification in the automotive industry is driving the demand for energy-efficient, high-quality, and high-performance solutions. These solutions provide comfort and convenience to vehicle owners, thereby increasing the market demand for tire pressure and airbag sensors.

Rising Importance of Safety Factors

In recent years, safety has become a paramount concern for vehicle consumers. There is a growing preference for advanced products that enhance comfort and safety. This trend is further bolstered by stringent government regulations on passenger safety, which are increasing the demand for automated vehicles equipped with advanced safety features such as airbag sensors and tire pressure sensors. The global push towards improving vehicle safety standards is anticipated to drive strong demand for these sensors worldwide.

Government Initiatives and Regulations

Bharat New Vehicle Safety Assessment Program (BNVSAP)

The Government of India is making significant strides in improving road safety through initiatives like the Bharat New Vehicle Safety Assessment Program (BNVSAP). This program is the Indian equivalent of the global New Car Assessment Program (NCAP), where vehicles are given a star rating 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 vehicles, particularly passenger cars. These regulatory measures are expected to significantly boost the market for these sensors in India.

Opportunities for Market Growth

Growing Automotive Industry

The rapidly expanding automotive industry in India presents a plethora of opportunities for market growth. Increased production of passenger vehicles and heightened public awareness of vehicle safety are key drivers of this growth. As the demand for automated luxury vehicles continues to rise, there is a corresponding increase in the demand for domestic airbag sensors and tire pressure sensors. This trend is expected to continue in the coming years, providing a substantial boost to the market.

Technological Advancements and Innovations

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

Regulatory Impact on Sales

Strengthening Safety Regulations

Governments around the world, 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 required to expand their product lines and customize their offerings to comply with these regulations. The Bharat New Vehicle Safety Assessment Program (BNVSAP) is a key initiative in India that aims to enhance vehicle safety through rigorous testing and mandatory safety features. Such regulatory standards are expected to complement the sale of tire pressure sensors and airbag sensors in the future.

Consumer Demand for Safety and Convenience

As consumers become increasingly aware of the importance of vehicle safety, there is a growing demand for products that offer enhanced safety and convenience. This trend is particularly evident 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 to this demand by developing innovative products that offer superior performance and reliability.

The India tire pressure sensor and airbag sensor market is set for significant growth, driven by a combination of factors including rapid urbanization, technological advancements, and stringent government regulations on vehicle safety. The market is expected to see a robust CAGR over the forecast period, reflecting the increasing demand for high-quality, high-performance safety solutions in passenger and commercial vehicles. As the automotive industry continues to evolve, the market for tire pressure and airbag sensors is poised for substantial expansion, providing ample opportunities for manufacturers and stakeholders.

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

Please note: Delivery Timelines - 5 working days.