May, 2018     

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



Indian Road Network Highlights



Indian Traffic Safety Market is pegged at USD 99 Million



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



NHAI is the single biggest user of traffic Safety market



Contractors charge premium on the materials bought from manufacturers



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



Key Specification Codes for Reflective Products



Key Competitors in Indian Reflective Products Market



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



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



Reflexite India Pvt. Ltd.



Asian Paints Pvt. Ltd. (Thermoplastic Paints)



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