Frost Radar™: Indian 2-Wheeler Helmet Market, 2020
Published on: 30-Sep-2020 | SKU: AU02055-SA-MR_24802

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India is the largest market for 2-wheelers (e.g., scooterettes, mopeds, and motorcycles), with more than 190 million in operation at the end of 2019. It also is home to one of the world’s largest and most competitive 2-wheeler helmet manufacturing industries, with a current capacity of 35 million helmets per year.

Helmet sales increased at a healthy compound annual growth rate (CAGR) of 10% from financial year (FY) 2012 to FY 2017. Market revenue for FY 2018 was estimated at $184 million, with 20.04 million helmets sold; only 0.3% were imported brands. India also is a prominent helmet exporter to countries in Africa and South Asia.

The helmet industry is by nature dependent on the performance of the 2-wheeler industry, which Frost & Sullivan expects to increase at a CAGR of 7.40% from FY 2019 to FY 2024. Lockdowns put in place to battle the COVID-19 pandemic in 2020, however, have affected the automotive market as a whole: Frost & Sullivan anticipates a drop in growth through FY 2021.

Full-face helmets are the top choice for commuters because they provide complete protection in various weather conditions. Open-face helmets follow; they are popular among female riders and are the go-to choice in states where pillion rider helmet use is mandatory. Helmet shell design, color, and graphic options are key considerations in a purchase decision today.

The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.

Strategic Imperative

Strategic Imperative (continued)

Growth Environment

Growth Environment (continued)

Frost Radar™: Indian 2-Wheeler Helmet Market

Frost Radar™: Competitive Environment

Frost Radar™: Competitive Environment (continued)

Aaron Helmets Pvt. Ltd.

Aerostar Helmets Ltd.

Ergo Helmets and Accessories Pvt. Ltd.

Steelbird Hi-Tech India Ltd.

Studds Accessories Ltd.

T.P. Industries (Gliders Helmet and NXT) Pvt. Ltd.

Vega Auto Accessories Pvt. Ltd.

Wrangler Helmets

Strategic Insights

Significance of Being on the Frost Radar™

Frost Radar™ Empowers the CEO’s Growth Team

Frost Radar™ Empowers Investors

Frost Radar™ Empowers Customers

Frost Radar™ Empowers the Board of Directors

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

Frost Radar™: Benchmarking Future Growth Potential

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Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform

Growth Index

Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.

  • Market Share (previous 3 years)
    This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years.
  • Revenue Growth (previous 3 years)
    This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™.
  • Growth Pipeline
    This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities.
  • Vision and Strategy
    This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision?
  • Sales and Marketing
    This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.

Innovation Index

Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.

  • INNOVATION SCALABILITY
    This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals.
  • RESEARCH AND DEVELOPMENT
    This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline.
  • PRODUCT PORTFOLIO
    This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue.
  • MEGATRENDS LEVERAGE
    This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline.
  • CUSTOMER ALIGNMENT
    This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.

Significance of Being on the Frost Radar™

Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.

  • GROWTH POTENTIAL
    Your organization has significant future growth potential, which makes it a Company to Action.
  • BEST PRACTICES
    Your organization is well positioned to shape Growth Pipeline™ best practices in your industry.
  • COMPETITIVE INTENSITY
    Your organization is one of the key drivers of competitive intensity in the growth environment.
  • CUSTOMER VALUE
    Your organization has demonstrated the ability to significantly enhance its customer value proposition.
  • PARTNER POTENTIAL
    Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.

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Impacting your company's future growth potential.

India is the largest market for 2-wheelers (e.g., scooterettes, mopeds, and motorcycles), with more than 190 million in operation at the end of 2019. It also is home to one of the worlds largest and most competitive 2-wheeler helmet manufacturing industries, with a current capacity of 35 million helmets per year. Helmet sales increased at a healthy compound annual growth rate (CAGR) of 10% from financial year (FY) 2012 to FY 2017. Market revenue for FY 2018 was estimated at $184 million, with 20.04 million helmets sold; only 0.3% were imported brands. India also is a prominent helmet exporter to countries in Africa and South Asia. The helmet industry is by nature dependent on the performance of the 2-wheeler industry, which Frost & Sullivan expects to increase at a CAGR of 7.40% from FY 2019 to FY 2024. Lockdowns put in place to battle the COVID-19 pandemic in 2020, however, have affected the automotive market as a whole: Frost & Sullivan anticipates a drop in growth through FY 2021. Full-face helmets are the top choice for commuters because they provide complete protection in various weather conditions. Open-face helmets follow; they are popular among female riders and are the go-to choice in states where pillion rider helmet use is mandatory. Helmet shell design, color, and graphic options are key considerations in a purchase decision today. The Frost Radar™ reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar™ methodology. The document presents competitive profiles on each of the companies in the Frost Radar™ based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar™, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
More Information
Deliverable Type Frost Radar
No Index No
Podcast No
Author Nachiket Devasthaley
Industries Automotive
WIP Number PB32-01-00-00-00
Is Prebook No
GPS Codes 9800-A6

Frost Radar™: Indian 2-Wheeler Helmet Market, 2020

AutomotiveFrost Radar™: Indian 2-Wheeler Helmet Market, 2020

A Benchmarking System to Spark Companies to Action-Innovation That Fuels New Deal Flow and Growth Pipelines

RELEASE DATE
30-Sep-2020
REGION
South Asia, Middle East & North Africa
Deliverable Type
Frost Radar
Research Code: PB32-01-00-00-00
SKU: AU02055-SA-MR_24802
AvailableYesPDF Download
$4,950.00
In stock
SKU
AU02055-SA-MR_24802