Facing the huge international bicycle market, how is the Indian market really look like?
Knowing more information of the Indian bicycle market, today, the author gives you a detailed understanding of the situation of India’s local bicycle companies.
Who are the top 10 bicycle manufacturers in India?
The top 10 bicycle manufacturers in India includes Avon, Neelam, SK Bikes, NNE, Hippo, Ahoy, Geekay, Suncross, Rollers, KPS Graphics.
Top 10 bicycle manufacturers in India in 2023
Avon
| Company website | https://avoncycles.com/ |
Avon, one of Ride Asia sponsored manufacturers, has an annual production capacity of 2.5 million bikes, 2,000 dealers and approximately 1,500 employees.
Among them, Avon’s domestic sales account for 92%, with iron bicycles accounting for 95%.
It also produces strollers, motorcycles and cargo bikes.
Avon is one of the manufacturers that provides free bicycles to the poor by the Indian government (about 1 million units).
It is understood that Avon’s e-scooter accounts for 5% of its revenue and retails at $3,500, mainly because the motor and batteries are imported, making the price very high.
Many parts are produced in the factory, but it also buys parts from China, such as aluminum alloy frames.
Avon Chairman Onkar Singh Pahwa said there will be new models in 2021, so it is expected to grow 10% to 2.65 million units.
Seth Ind / Neelam
| Company website | https://www.neelamcycles.in/ |
Established in 1964, Seth Ind is a family-run business with Neelam as the brand name and seven factories manufacturing bicycles, tricycles, load carriers as well as producing frames, forks, handlebars, pedals, chains, cranks, rims, etc., with a workforce of about 1,200 people.
According to Rajesh Seth, Managing Director, they are the only bicycle factory in India that produces major components (150,000 units per month).
Neelam produces 1.5-1.8 million units per year, with a production capacity of up to 2 million, and 250,000 per month in the event of high volume orders.
Sales are all over India, especially North India sells exceptionally well and has a high market share.
Its three-wheelers have about 90% market share in India.
The company produces an average of 2,000 units per day and exports 10,000 units to Bangladesh at a retail price of about INR12,000.
1500 Dealerships in India also provide spare parts for dealers for the assembly of three-wheelers.
More than 200 dealerships were present at Ride Asia, of which 60% were for cargo bikes and 40% for MTBs and kiddies, with MTBs retailing at INR4,000-5,000, with an average price of INR3,000, and kiddies retailing at INR2,000-2,500, or about US$45.
Neelam is also one of the manufacturing plants where the government gives away bicycles to the poor.
SK Bikes / Huge, Gang
| Company website | https://skbikes.com/ |
SK Bikes is a company that attaches great importance to branding and product positioning, with two brands, Huge and Gang, with Huge taking the mid-to-high-end route.
According to Sachin Lakra, Chairman of SK Bikes, the Huge is an all-aluminum frame and retails at Rs. 10,000 and above, while the Gang is Rs. 2,000 and above, and is priced at Rs. 4,500, making it a mass-market product.
SK Bikes was founded in 2002, with an annual production of about 1.2 million bikes, of which 60% are MTBs and 15% are strollers, and employs about 700 people.
The chairman of SK Bikes is very proud of the fact that their bikes are all of their own design, and he is ashamed of counterfeiting by his Indian counterparts, and the components are imported from mainland China if they are not produced in the factory.
He was pleased with RideAsia and said he was able to concentrate on doing business at the venue.
NNE / Navyug Namdhari
| Company website | https://nneworld.com/ |
Navyug Namdhari was founded in 2006 with three factories and 800 employees.
NNE is the brand name, and it started assembling bicycles, with an annual production of about 200,000 units, and in 2010 began producing components, such as frames, wheelsets and handlebars, says owner Harmanjit Singh, who is in charge of research and development.
NNE also exports to the United States and has joint ventures with American companies.
Navyug Namdhari’s stand at Ride Asia was a striking and attractive design.
Hippo
| Company website | https://www.hippohipower.com/ |
Hippo has been in the bicycle business since 1967, starting with the production of parts (Crank, BB Parts) and then assembling bicycles in 2005.
Now its main products are bicycles, with an annual production of 150,000-200,000 units, as well as handlebars, BB Shells, frames, shock-absorbing forks, and frame lugs.
With 100 employees, Nalin Mahajan, vice president of marketing, said there are 200 MTBs under Hippo’s banner and MTBs account for 40% of production, retailing at INR9,000-20,000, as well as children’s bikes (30%), roaders (20%) and Hibridges (10%), Nalin said.
Nalin said sales at Diwani Festival Hindu accounted for 20% of the year’s revenue and this year they also started selling on Bikeon website.
Ahoy
| Company website | https://ahoybikes.com/ |
Ahoy is a new company that was founded in 2019 and is based in NCT.
They attended Ludhiana Bike Show and Ride Asia Bike Show in early March and the bike frame materials on display (MTBs) looked like aluminum but were mostly iron bikes.
There are currently 80 dealers and they are conservative because there is still stock in the market and with the election of the Prime Minister in April, they are hopeful that the target of 80,000 bikes can be reached.
Geekay / Rajesh
| Company website | https://geekaybikes.com/ |
Rajesh is a company that specializes in electric bikes, also MTB. Geekay is the brand.
The company was founded in 1961. It is a trading company and also has an assembly plant.
CEO Rajat Bhatia said the e-bike is a Swiss design produced in China. Retail price is $ 600-700.
He believes that electric bicycles in India have great potential, so he launched an Ecobike.
He sees a lot of potential for e-bikes in India, so he launched Ecobike e-bikes.
In addition, Rajesh employs 350 people, has about 400 dealerships, assembles 3,000 MTBs per month, and also exports to Bangladesh and Sri Lanka, with a small amount to the UK market, and plans to set up a company in Toronto, Canada, this year.
Suncross / Naren Int
| Company website | https://www.suncrossbikes.com/ |
Suncross is the brand name and Rajesh Kalra, the chairman, claims to have started the company from scratch and is not the second generation of the company, which was formerly a bicycle factory (1994).
He closed the factory in 2004 and started his own business. In fact, Rajesh imported frames from the Golden Wheel Group as early as 2003 and assembled them in India.
Currently there are two factories in Ludhiana and Rajesh says he can assemble up to 200,000 units a year, of which 60% are aluminum MTBs, 25% are road bikes and 10% are hybrid bike, with MTBs retailing at $120-150.
In addition, he also sponsors cycling teams and distributes brands such as Maxxis, Kenda tire, KMC, etc.
He said Kenda tire is the No. 1 imported brand in India and also distributes Infini brand from Taiwan, China.
In addition, Naren also distributes brands such as Lapierre from France, Ghost from Germany, Haibike and Totem from Tianjin, China.
Naren also distributes Lapierre (France), Ghost (Germany), Haibike and Totem (Tianjin, China).
Rollers
| Company website | https://www.rollersindia.in/ |
Rollers is an importer. Established in 1960, owner Baljit Gandhi is very kind. About two years ago, he created his own brand Upgrade.
He said most Indian consumers are looking for good value for money products.
Upgrade was born as a result. In 2014, it became China’s Phoenix-bicycle India distributor. Phoenix-bicycle is one of the top 10 electric bike manufacturers in China.
Currently, there are 500 dealerships and 25-30 employees.
In June this year, he also began working with Golden Wheel Group. He said India’s import tax for the whole bike is 34%, but there are other manufacturers who said it is 30-32%, parts for 20%.
Rollers imported 5-10 40-foot containers from China every month, the annual sales of bicycles about 35,000-42,000 units, mainly MTB, fat tire bikes and road bikes.
The main products are MTB, fat tires and road bikes.
KPS Graphics
| Company website | https://kpsgraphics.business.site/ |
KPS Graphics is a joint venture between Sandeep Chaudhary and Safeway.
In 2013, Sandeep met Safeway’s general manager Fu, and the two sides immediately hit it off.
Sandeep stressed that India is increasingly focusing on quality, and consumers have come to believe that quality is more important than price, and that good quality is not a lonely commodity.
As a result, KPS sales have grown from 300,000 RMB in 2014 to 6,000,000 RMB, and this year they are targeting RMB 10,000,000, Fu says, only for parts.
They have 250 dealers in India, and currently have a 35,000 square meter warehouse in Ludhiana, and are preparing to assemble bikes this year.
At the same time, they are actively looking for the right products to sell in India.
Sandeep says they have 10 salespeople and 90 employees, and last year KPS began contacting Wanda Tire, which was on display at their booth at Ride Asia show.
Safeway General Manager Fu stressed the importance of finding the right agent or partner in India.
Conclusion
These are the top 10 bicycle manufacturers in India.
Each manufacturer has its own focus on the development of the part, the choice will be diversified.
