India, being the largest two-wheeler market in the world, offers a huge opportunity not just to helmets manufacturers but also to the manufacturers of two-wheeler accessories, says Rajeev Kapur, MD, Steelbird Helmets.
What is the current market size for the helmet industry in India? What is your market share?
With 1.5 lakh people dying on Indian roads in 2015, motor safety is top priority for the government. With two-wheelers accounting for a bulk of the road accidents, the use of helmets is crucial to improving safety standards.
India, being the largest two-wheeler market, in the world offers a huge opportunity not just to helmets manufacturers but equally to manufacturers of two-wheeler accessories. Over 15 million fresh two-wheelers added to the roads every year make it a huge untapped industry. As per estimates, and if we go with the regulations, 100 million helmets are required every year making it a 100 million industry.
However, it’s a pity that 90 per cent of the market is still unorganised. And if you talk about the branded products there are only three companies in India i.e. Steelbird, Studds and Mega. An unbranded helmet is sold for mere Rs.100 with an ISI mark so these manufacturers are playing havoc with people’s lives. The second factor which is affecting the industry is that helmet is not mandatory in all states. It is just a few cities like Mumbai, Delhi, Jaipur, Chandigarh where it is mandatory to wear helmet while riding on road. If it becomes mandatory for all then it’s a huge untapped industry.
We at Steelbird Group are also geared up to capitalise on this massive opportunity. In the last five years, we have almost tripled our production and today Steelbird is equipped to produce 21,000 helmets a day across our multiple manufacturing facilities. Steelbird holds more than 30 percent market share in the top segments.
What kind of policy reforms are required to make this industry grow faster?
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