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    Smart Helmet Market

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    Utkarsh Singh
    China's smart helmet market is anticipated to grow steadily by 2024 due to rising motorcycle purchases and demand for improved safety and comfort. As China's population relies heavily on motorcycles and scooters for transportation but production only began in the 1950s, China is now one of the largest motorcycle producers to meet domestic and international demand. Sales of luxury motorcycles are also growing in China following restrictions on motorcycle use in some cities. The superbike market accounted for just 2.3% of sales in 2008 but had risen to 5.3% by 2010 and continues increasing, with top brands focusing on lighter, more efficient models. This growing superbike market is projected to boost demand for smart helmets.

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    Smart Helmet Market

    Uploaded by

    Utkarsh Singh
    76 views3 pages
    China's smart helmet market is anticipated to grow steadily by 2024 due to rising motorcycle purchases and demand for improved safety and comfort. As China's population relies heavily on motorcycles and scooters for transportation but production only began in the 1950s, China is now one of the largest motorcycle producers to meet domestic and international demand. Sales of luxury motorcycles are also growing in China following restrictions on motorcycle use in some cities. The superbike market accounted for just 2.3% of sales in 2008 but had risen to 5.3% by 2010 and continues increasing, with top brands focusing on lighter, more efficient models. This growing superbike market is projected to boost demand for smart helmets.

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    SMART HELMET MARKET

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    China's smart helmet market is anticipated to grow steadily by 2024 due to rising motorcycle purchases and demand for improved safety and comfort. As China's population relies heavily on motorcycles and scooters for transportation but production only began in the 1950s, China is now one of the largest motorcycle producers to meet domestic and international demand. Sales of luxury motorcycles are also growing in China following restrictions on motorcycle use in some cities. The superbike market accounted for just 2.3% of sales in 2008 but had risen to 5.3% by 2010 and continues increasing, with top brands focusing on lighter, more efficient models. This growing superbike market is projected to boost demand for smart helmets.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    76 views3 pages

    Smart Helmet Market

    Uploaded by

    Utkarsh Singh
    China's smart helmet market is anticipated to grow steadily by 2024 due to rising motorcycle purchases and demand for improved safety and comfort. As China's population relies heavily on motorcycles and scooters for transportation but production only began in the 1950s, China is now one of the largest motorcycle producers to meet domestic and international demand. Sales of luxury motorcycles are also growing in China following restrictions on motorcycle use in some cities. The superbike market accounted for just 2.3% of sales in 2008 but had risen to 5.3% by 2010 and continues increasing, with top brands focusing on lighter, more efficient models. This growing superbike market is projected to boost demand for smart helmets.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    of 3

    TARGET MARKET:

    It is anticipated that China's smart helmet market will grow steadily by 2024. Factors such as a
    rise in the country's motorcycle purchases, and the desire and perception of end-users for
    improved safety and comfort provided by premium helmets are driving the market.

    As China is the world's most populated country, where investment in public transport may not be
    enough for accessibility requirements, the nation is reliant on mopeds, scooters, and motorcycles.
    Although the country's motorcycle industry production has started fairly late (motorcycles were
    not common in the country until the 1950s), China is currently one of the world's largest
    motorcycle manufacturing countries. The growth in output of motorcycles is guided by the
    increasing demand from the domestic and international markets.

    Sales of luxury motorcycles are growing in China, following a two-wheeler ban in some of the
    country's regions, where two-wheeler use on city roads is restricted. Given laws regulating
    motorcycles, China's shipments rose by 2.2 percent, relative to 16.8 million units in 2016, to
    17.13 million units in 2017.

    Superbike revenues accounted for only 2.3 percent of total sales in the nation during 2008. By
    2010 this number rose to 5.3 percent, and from 2010 to 2017 it continued to rise at a rate of 2.3
    percent. Makers of performance motorcycles, such as Ducati, Harley-Davidson and BMW AG,
    have concentrated on lighter, sleeker and efficient motorcycles that attract bikers. That strategy
    worked well for BMW, culminating in a sales increase of 74 percent in 2016-2017. Furthermore
    China is becoming second-largest market for Ducati.

    Additionally, a sports bike (over 600 cc of engine displacement) will cost 20000 $, which
    requires a luxury tax of nearly the bike's worth. Most of these motorcycles are operated by
    citizens residing away from the restricted motorcycle zones, mainly in small towns owing to the
    poor stringency of motorcycle laws and regulations. Chinese companies are also making a
    conscious effort to build and market these motorcycles, with the increasing demand for bikes
    over 600 cc. Super-bike demand is also projected to increase over the forecast period, which in
    effect boosts the smart helmet market for motorcycles.
    SWOT ANALYSIS OF SMART HELMET:
    STRENGTH:

     A ground breaking concept


     Protection & security of consumers
     High quality helmets with advanced features
     Wide distribution network
     Technology that cannot be easily copied

    WEAKNESS:

     High prices as comparison to normal helmets


     Resources are very limited
     Cannot be purchased by every class

    OPPORTUNITY:

     Smart helmet market is still untapped so it gives us a great opportunity


     Modern & creative technologies provides a first mover advantage
     Decrease in foreign trade barriers
     Huge scope of luxury bikes which itself increases the size of potential market

    THREATS:

     Chances of non-acceptance of a new technology product


     Uncertainty about the foreign market’s diplomatic as well as economic environment
     No barriers so can be easily tapped by other competitors
     Difficulty in predicting consumer behavior
    DISTRIBUTION:
    PORT SELECTION-

    HS CODE: 65061010; 6505 – Harmonised codes of other headgear, whether or not lined or
    trimmed

    MODE: ICD

    FOREIGN PORT: Shanghai

    FOREIGN COUNTRY: China

    INDIA PORT: Jnpt

    Chapter 65: Headgear and parts thereof

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