Bicycle & Motorcycle Helmets Market

Market Synopsis:

The Global Bicycle & Motorcycle Helmets Market was valued at USD 7.97 Billion in 2022 and is forecast to reach a value of USD 22.41 Billion by 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 13.80% over the forecast period.

The growing number of bicycle riders is driving the growth of the global demand for bicycle helmets. Furthermore, stringent laws regulate the adoption of helmets during riding, which is also expected to fuel the global market, primarily with the increase in motorcycle sales. In addition, motorsports and national and international level racing championships are becoming more popular, which positively impacts the growth of the bicycle during the forecast period. To maintain a competitive advantage in the bicycle and motorcycle helmet industry, key manufacturers continuously emphasize technical developments.

Market competitors are focused on product development and research and development to support the market's expanding demand for Bicycle & Motorcycle Helmets. Furthermore, the health benefits associated with riding are leading to a rise in bicycle riders. Also, Bicycle sales are increasing significantly due to COVID-19. Therefore, it will directly and considerably impact the global demand for bicycle and motorcycle helmets. Furthermore, due to an increase in adventure activities such as traveling by motorbike to tourist destinations and adventure rides, consumers are shifting their preference to bicycle and motorcycle helmets, which is expected to increase the market demand.

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In addition, the market is expected to grow as individuals become more aware of the risks of drinking due to a lack of awareness about road safety standards among the rural population. The major factors restraining the growth of the global bicycles and motorcycle helmets are lack of understanding, less strict legislation in implementation, and a lack of emphasis on the necessity of road safety among individuals from developing countries.

Market Segmentation:

The Bicycle & Motorcycle Helmets market is segmented based on Distributional Channels, Product, and Region. Based on the segment Product, the market is sub-segmented as Full Face, Half Face, and Open Face. Furthermore, based on the segment Distributional Channel, the market is Offline and Online.

Based on Product:

Based on the Product segment, the market is sub-segmented as Full Face, Half Face, and Open Face. The Full-Face segment holds the largest share in the global market during the forecast period. The company players are using innovative technology to reduce the weight of these helmets and make them more comfortable to wear and safer to use. They are using materials like fiberglass reinforced plastic and carbon fiber. Furthermore, suppliers are designing the helmets with technological tools such as Connectivity options to create new economic opportunities over the upcoming years.

Based on Distributional Channel:

Based on the Distributional Channels segment, the market is sub-segmented Online and Offline. The Online Distribution Channel is anticipated to grow at the highest rate during the forecast period. Consumer preferences are also influenced by e-commerce websites, Google Ads, and social media. Smartphones and high-speed internet connectivity are expected to increase the use of digital platforms for purchasing motorcycle helmets in developing economies such as India, Vietnam, Indonesia, and China. To increase sales in the digital world, companies are launching their website so that customers can buy the products straight from the source.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. The critical factor responsible for the growth in this region is increasing disposable income among consumers. The other factors driving the region's growth include industrialization, government policies, infrastructure development, a rise in the number of motorbikes, government regulations on safety, government initiatives, and expansion of online channels, especially in countries such as China and India. Also, key players are introducing attractive designs and well-established portfolios for on-road, off-road, sports, and mountain bikes, which is projected to boost the sales of bicycle and motorcycle helmets.

Competitive Landscape:

The key players in the Global Bicycle & Motorcycle Helmets market include- Dainese S. P. A., HJC Europe S.A.R.L, Shoei Co. Ltd, Arai Helmet Ltd, Alpinestars S. P. A., Schuberth GmbH BELL HELMET, FOX, STUDDS Accessories Limited, Royal Enfield, Caberg S. P. A., and others.

Segmentation of the Global Bicycle & Motorcycle Helmets Market: