Bike Helmet Market Analysis | Emerging Set for Rapid Growth By 2024

16/nov/2020 09:24:30 Pradeep Z Contatta l'autore

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Head injury is the main cause of disability, death, and injury from two-wheeled motor vehicles. The significant increase in the use of two-wheeled motor vehicles, particularly in low- and middle-income countries, is linked with a surge in the number of head injuries and traumatic injuries.

The global bicycle helmet market is expected to grow considerably over the forecast period. The growth of the global market is owing to the implementation of strict government regulations on the use of protective equipment during cycling. In addition, product innovations with advanced safety features combined with enhanced product appearance stimulate market growth. However, the high prices of bike helmets are anticipated to hinder market growth over the forecast period.

The growth of the world market is due to the presence of strict laws that make the use of helmets mandatory. The growing trend of cycling as a form of exercise to reduce overweight and improve fitness contributes to the growth of the global Bike Helmet Market Analysis. In addition, bicycles are cheaper and greener than other vehicles, which in recent years has increased the cyclists’ number around the globe. In addition, the growing trend of professional cycling and the increasing number of cycling accidents are expected to influence the growth of the world market.

Market Segmentation

The global bike helmet market is broadly diversified into main segmented; type and application.

The type segment of the global bike helmet market is bifurcated into sports helmets, road helmets, and MTB helmets. The largest subsegment that held a noteworthy market share in 2018 was road helmets type. Implementation of strict regulations related to road safety for daily commute has uplifted the growth of the segment. Manufacturers creating safer and lighter products is poised to propel the growth of the segment in the coming period. Moreover, the sports helmet segment is likely to witness the highest growth over the forecast period. Growing craze of adventure and sports activities in developing nations is motivating the market growth.

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On the basis of application, the global bike helmet market is divided into sports & adventure and transportation. However, in terms of market share, the daily transportation segment led the global bike helmet market in 2018. Growing incidence of road mishaps has created awareness among the riders about the importance of safety on the road, this drives the demand for bike helmets that are majorly used while commuting.

Regional Analysis

Geographically, Europe dominated the global bike helmet market in 2018 and is predicted to sustain its influence over the forecast period. Italy in Europe leads the regional market and is likely to grow at a rate of 7.46% in the forecast period.

Following Europe, North America market ranks seconds with significant market share for bike helmets. Safety standards for accident-free driving is a key factor responsible for the growth of the market in this region.

Further, Asia Pacific is expected to report maximum CAGR in the forecast period owing to growing awareness about road safety and under-developed transportation infrastructure. This is a major concern in Asia, where two-wheeled motor vehicles are used as family cars for many passengers.

In nations with middle- and low- income, there is requirement for strict standards for helmets, specifically for the regions with cost constraints, local manufacturing capabilities, and that are suitable for local climates.  For instance, in Vietnam, a lightweight helmet that is compatible with tropical climates in region, while, helmets for children in Malaysia were developed.

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Major Players

Some of the leading key contributors in the global bike helmet market include Specialized Bicycle Components, Uvex Sports, MET-Helmets, SCOTT Sports SA., KASK S.p.a., Orbea, Trek Bicycle Corporation, Dorel Sports, and SCOTT Sports SA.

Recent Updates

Hovding, A Sweden based company that brought an inflatable bike helmet has registered a multifold sale achieved in Denmark. Its helmet is essentially a collar that inflates and shield the entire head of the rider. In a quarter, the company sold around 17, 000 helmets.

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