The total Personal Protection Equipment market in India is estimated at around 150 Mln US$. This is growing at a rate of 12% p.a.
This market is still at a very nascent stage in the country with respect to its awareness, acceptability and size. As a result there are quite a large number of local unroganised players also participating in this market- the reason being there is a large chunk of the market still driven by low specifications due to non awareness. However the rising awareness, higher level of integration with global economy and regulatory intervention is leading to bigger Indian companies and global players seeing interesting opportunities in this market.
Some larger units like Cement, Steel plants – which are more integrated with global manufacturing practices are incorporating high levels of safety now. They are hiring safety consultants to bring in and incorporate best practices into their organizations and this is changing the market dynamics to some extent. The Multinationals of course always had the same safety practices in India as globally and they continue to tread on this path.
The market is at an early stage of growth. Companies will have to build a strategic roadmap to play in this market using the right product and price positioning, channel network development, spec-in and marketing campaigns targeted at key influencers (Safety officers, Testing Agencies, Government Bodies, Safety Councils etc) and decision makers (End Users, Leadership Teams etc). There also exist opportunities for safety equipment/product firms operating to forge partnerships with various service providers in this space (Consultants, Insurance Agencies etc).
4,314 total views, 4 views today
You might also be interested in below related content: