India to Register Strong Growth in Two-Wheeler Helmet Market till FY’2026
Rising awareness for safe transportation coupled with
increasing government regulations and initiatives to boost demand for two-wheeler
helmets
According
to TechSci Research report, “India
Two-Wheeler Helmet Market By Helmet Type, By Distributor Channel, By
Region, Competition, Forecast & Opportunities, FY2026”, India two-wheeler helmet market is projected to witness a
CAGR of 14% during 2021-2026, owing to increasingly stringent regulations for
both commuter as well as helmet manufacturers in the country. With increase in
consumer spending and demand for safer helmets due to rising concerns about accidents,
commuters are becoming increasingly aware about importance of helmets, which is
expected to continue boosting two-wheeler helmet sales during forecast period.
India two-wheeler helmet market can be classified based on helmet type,
by distributor channel, and by region. In terms of helmet type, the market is
classified into Full face helmets, Open face helmets, Half face helmets,
Modular helmets and Motocross helmets. Full face helmets account for more than
40% of the market demand.as they are considered to be the safest and simplest
type of helmets, and hence, being the widely used across all age groups of
commuters. The Full-face two-wheeler helmet segment is expected to continue its
dominance in the country’s helmet market.
In terms of distributor channels, the market is segmented into online and
offline channels. Offline channels segment, which includes sales through
Dealers/Retailers, two-wheeler manufacturers and Institutional channels, would
continue to account for the lion’s share of the country’s helmet market during
the forecast period. The market by region has been classified into four
geographical clusters, North, East, West and South. The country’s North region
accounts for the largest share in the market, followed by West, South and East
regions. Moreover, North and West regions are also expected to exhibit faster
growth rates during the forecast period, with both the regions anticipated to
grab more than two-thirds of the country’s two-wheeler helmet market by 2026.
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More than half of the market
demand is accounted for by three leading two-wheeler helmet players operating
in the country namely, Studds, Vega and Steel Bird. Other prominent brands
operating in the market include Aerostar, Wrangler, Ergo, Aaron, Royal Enfield,
LS2 and THH. Around 40% of the market is covered by unorganized players who
sell their products via local dealers and retailers. But due to increasing government
strictness in regulations like recent amendment of Section 129 of the Motor
Vehicle Act which defines that the helmet should at least have a thickness of
20-25 mm with superior quality foam, ISI mark and comply with Bureau of Indian Standards,
customer preference towards helmets offered by small unorganized players is
expected to decline in the coming years.
“Studds Accessories Limited dominated India’s Two-Wheeler helmet market
in Financial Year 2020, due to its extensive dealer network and relatively
economical yet high quality product range. Sales of Two-Wheeler helmets are
anticipated to continue growing in India in the coming years, on account of
increasing consumer expenditure for safer, ergonomic and aesthetic helmets, coupled
with higher government focus on adherence of traffic rules.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India
Two-Wheeler Helmet Market By Helmet Type, By Distributor Channel, By
Region, Competition, Forecast & Opportunities, FY2026” has evaluated the future growth potential of Two-Wheeler
helmet market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in India two-wheeler helmet market.
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