May, 2018     

Traffic Safety Products Industry in India


traffic-safety-products-industry-in-india

 

Key Assumptions and Background

 

-This analysis is for road reflective products

-The analysis does not cover reflective linings on the vehicles

-Market sizing has been done for primary manufacturers (e.g. 3M)  for reflective surfaces, this does not include the cost of fabrication and end product cost

-Market size has been calculated by adding the revenues of leading manufacturers

-Revenue of individual companies has been collected through primary research on key business leaders in respective companies

-Reflective lining of vehicles is considered to be highly unorganized with 70% to 80% of the market being commanded by Chinese imports. 3M and Avery Dennison command the organized market through their tie-ups with OEMs

 


Traffic Safety Market Definition

traffic-safety-market-india

 


Indian Road Network Highlights

indian-road-network-and-classification

 


Indian Traffic Safety Market is pegged at USD 99 Million

indian-traffic-safety-market-size

 


Reflective Surfaces and Paints account for the major pie of Traffic safety market

indian-traffic-safety-market-product-wise

 


NHAI is the single biggest user of traffic Safety market

indian-traffic-safety-market-usage-wise

 


Contractors charge premium on the materials bought from manufacturers

cost-of-reflectors-as-percentage-of-final-traffic-safety-product

 


Key Drivers for traffic safety products in India

 

Growth of Private Sector: 90% of the NHAI projects are executed by private contractors. Increased awareness among the project directors has led to increased demand of quality reflective products

Long Life of Products: Due to proven long life of high quality reflective products, companies have been able to ask premium from government. Creating a cost effective solution in traffic safety product category

Technological Advances: Recent technological advances have helped resolving some of the key pain areas in Indian context

Increasing Spend on Infrastructure: Union government has allocated 46% of total budget expense on Infrastructure. Roads account for a key portion of this budget, amounting to ~10 KM of new roads every day

 


Key stakeholders and influencers

reflective-products-market-ecosystem

 


Key Specification Codes for Reflective Products

reflective-products-codes

 


Key Competitors in Indian Reflective Products Market

reflective-products-revenue-of-major-players-in-india

 


3M India Pvt. Ltd. (Traffic Safety Systems)

total-revenue-growth-3m-india

 


Avery Dennison (India) Pvt. Ltd. (Reflective Products)

total-revenue-growth-avery-dennison-india

 


Reflexite India Pvt. Ltd.

total-revenue-growth-reflexite-india

 


Asian Paints Pvt. Ltd. (Thermoplastic Paints)

total-revenue-growth-asian-paints-india

 

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