India bike helmet market
is projected to grow at a CAGR of 14% during 2021-2026, owing to increasingly stringent
regulations and strictness at roads in India for both commuters and
manufacturers of helmets in the country. With increase in consumer spending and demand for
safer helmets due to rising number of road accidents in India, sales of bike helmets
are forecast to continue growing across the country in the coming years. It is
illegal in India to drive a two-wheeler without
wearing a helmet, after the recent amendment of Motor Vehicle Act, and a
commuter caught driving without a helmet is fined INR 1,000 (instead of old INR
100).
India bike 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 the largest market share and the segment is expected to
continue its dominance during the forecast period. In terms of distributor
channels, the market is categorized into online and offline channels. Offline
channels account for more than 95% of the market share in India bike helmet
market and the segment is further segmented into Dealers/Retailers, Two-wheeler
manufacturers and Institutional channels. More
than half of the market is accounted for by three players, Studds, Vega and
Steel Bird. 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 follow Bureau of Indian Standards, customer inclination towards small
leading organized helmet brands is expected to increase in India in the coming
years.
Years
considered for this report:
Historical Period: FY’2016-FY’2019
Base Year: FY’2020
Estimated Year: FY’2021
Forecast Period: FY’2022–FY’2026
Objective of the Study:
v To analyze and forecast the market size
of India Bike Helmet market.
v To classify
and forecast the India Bike Helmet market based on Helmet type, Distributor Channel Type, By
Region and By Company.
v
To identify drivers and challenges for the India Bike
Helmet market.
v
To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in India Bike
Helmet market.
v To identify
and analyze the profile of leading players involved in India Bike Helmet
market.
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Studds, Vega, Steel Bird,
Aerostar, Wrangler, Ergo, Aaron, Royal Enfield, LS2 and THH among others are some of the
leading players in India bike helmet market. TechSci Research performed primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of bike helmet manufacturers in India. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research was able to include vendors and service providers that could
not be identified due to the limitations of secondary research. TechSci
Research analysed product offerings, application, distribution channel and
regional presence of all bike helmet manufacturers across India.
TechSci Research calculated the market size of India bike
helmet market using a top down approach, where data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also
studied by TechSci Research.
Key Target Audience:
v Bike Helmet manufacturers, suppliers/
dealers and other stakeholders
v Government bodies such as regulating
authorities and policy makers
v Organizations, forums and alliances
related to India Bike Helmet market
v Market research and consulting firms
The study is useful in
providing answers to several critical questions that are important for industry
stakeholders such as bike helmet manufacturers,
distributors and dealers, customers, and policy makers. The study would also help them to target the growing segments
over the coming years (next two to five years), thereby aiding the stakeholders
in taking investment decisions and facilitating their expansion. thereby aiding the stakeholders in taking
investment decisions and facilitating their expansion.
Report Scope:
In this report, India bike helmet market
has been segmented into following categories, in addition to the industry trends
which have also been detailed below:
Market, by Type:
Ø Full Face
Ø Open Face
Ø Half Face
Ø Modular
Ø Motocross
Market, By Distributor Channel:
Ø Offline
§ Dealers/
Retailers
§ Two-Wheeler
manufacturers
§ Institutional
Ø Online
Market, By Region:
Ø North
Ø East
Ø West
Ø South
Market, By Company
Competitive
Landscape
Company Profiles: Detailed analysis of the major
companies present in India Bike Helmet Market
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information
v Detailed analysis and profiling of
additional market players (up to ten).
Profit Margin Analysis
v Profit margin analysis in case of direct
and indirect sales channel.