A French player was looking to enter the India market. They were interested in the metal detectors market for leisure and hobby segment. Infogence helped this player by conducting a thorough primary research. We also crafted a multi faceted India entry strategy for this player, using which, the French player tasted success within the first 4 months of entry in India.
Market Overview: The Indian market for leisure and hobby metal detectors is experiencing significant growth. The market reached $xxx million by value and xxxxx nos by volume in 2023 and is projected to grow to $xxx million by 2028, achieving a compound annual growth rate (CAGR) of 12.5%. Rising consumer interest in activities such as treasure hunting, coin collecting, and relic searching fuels this growth.
Key Questions Addressed: To guide the manufacturer, Infogence explored several critical questions:
- Market Size: What is the market value and volume for ground metal detectors used for leisure and hobby purposes?
- Segmentation: How to segment the market by technology, usage, and geography?
- Competitive Landscape: Who are the major competitors, and what are their market shares and go-to-market strategies?
- Growth Opportunities: What are the growth opportunities and challenges, particularly in relation to government regulations?
- Five-Year Outlook: What is the outlook for the next five years?
Research Methodology: We employed extensive qualitative primary research to analyze both the demand and supply sides. Specifically, we engaged with over 150 stakeholders, including competitors, distributors, importers, hobby groups, and regulatory agencies. As a result, this comprehensive engagement provided a detailed assessment of the market.
Strategic Recommendations: Based on our findings, the French manufacturer gained valuable insights and decided to implement a multi-faceted entry strategy. This included appointing distributors for sales and establishing a local office to manage imports, after-sales service, and marketing activities.
Conclusion: Through extensive primary research, Infogence equipped the French manufacturer with a clear understanding of the Indian market landscape for metal detectors used in leisure segment. The decision to enter the market by appointing distributors and establishing a local office aligns with best practices observed among successful international entrants. This strategic approach positioned the company to capitalize on the growing demand within this niche sector over the next five years.