Bike Helmet Market Outlook 2031
The bike helmet market size was valued at USD 8.66 Billion in 2022 and is projected to reach USD 28.16 Billion by 2031, expanding at a CAGR of around 14% during the forecast period, 2023 – 2031. The growth of the market is attributed to rising awareness of road safety.
Rider's heads are protected with bike helmets. For motorcycle riders, it serves as a protective headgear. Various sorts of restrictions for the use of motorcycle helmets are enforced, which help to boost the product sales during the forecast period. For many countries, road traffic accidents have become a severe problem. It is one of the most common causes of death in children and young people worldwide.
The present Indian government aims to reduce road accidents by half during the forecast period. Since 1970, Australia's government actions have been successful in lowering road accidents by two-thirds by implementing drunk driving measures. Furthermore, most governments have made it mandatory for motorcyclists to wear helmets.
The Covid-19 pandemic affected the demand and supply of the bike helmet market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Bike Helmet Market Trends, Drivers, Restraints, and Opportunities
- Rising number of sport bike and motor bike riders is projected to drive the market during the forecast period.
- Increasing cases of road accidents is anticipated to fuel the bike helmet market during the projected period.
- Strict rules and regulations imposed by several governments regarding the compulsion of bike helmet is expected to boost the market during the forecast period.
- Increasing awareness about the negative consequences of drunk and drive is estimated to propel the market.
- Lack of awareness among rural population about the road safety rules, is projected to drive the market.
- High cost of the smart helmets is projected to impede the market growth during the projected period.
- Technological advancements are expected to create immense opportunities for the market players during the forecast period.
Scope of Bike Helmet Market Report
The report on the global bike helmet market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Bike Helmet Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023 – 2031
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Segmentation
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Products (Open Face, Half Face, and Full Face) and Distribution Channels (Online and offline)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Dainese S.P.A.; Bell Helmet; Studds Accessories Ltd; Shoei Co. Ltd; Shark Helmets; Schuberth GMBH; Nolan Helmets SPA; Manufacturas Tomas SA; HJC Helmets; and Arai Helmets
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Bike Helmet Market Segment Insights
Products Segment Analysis
In terms of products, the market is fragmented into open face, half face, and full face. The full-face segment accounted for a major market share in 2021 and it estimated to maintain its dominance during the forecast period. Manufacturers are using modern materials such as fiberglass and carbon fiber armored plastic to decrease the weight and improve the safety of full-face goods.
Vendors are also including modern communication tools like Bluetooth into helmets, which is expected to create lucrative opportunities for the market players. To meet the growing product demand, key manufacturers such as Arai Helmet Ltd, Shoei Co. Ltd, HJC Europe S.A.R.L, and Dainese SpA are introducing new items.
Distribution Channels Segment Analysis
Based on distribution channels, the market is divided into online and offline. The offline segment held a key market share in 2021. In emerging nations such as India, China, Bangladesh, Indonesia, and Thailand the primary distribution outlets include supermarkets, convenience stores, and street vendors. Some local manufacturers sell their products at low price than top brands through offline channels.
The online segment is projected to expand at a high CAGR during the forecast period owing, to due to the convenience of purchasing and product delivery.
Furthermore, online players such as HELMEXPRESS.COM and Amazon, among others, are focused on this product line in order to take advantage of expanding demand. Furthermore, Google Ads, social media, and e-commerce platforms, all play an important role in influencing customer preferences. The availability of smartphones and high-speed internet in developing nations like Vietnam, Indonesia, China, and India is projected to increase the use of online platforms for buying bike helmets.
Regional Analysis
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific dominates the global market. The two-wheeler market in nations like Vietnam, Indonesia, China, and India has a substantial buyer base. One of the major factors driving the market is the presence of key market players in the region.
Segments
The global bike helmet market has been segmented on the basis of
Products
- Open Face
- Half Face
- Full Face
Distribution Channels
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the bike helmet market include Dainese S.P.A.; Bell Helmet; Studds Accessories Ltd; Shoei Co. Ltd; Shark Helmets; Schuberth GMBH; Nolan Helmets SPA; Manufacturas Tomas SA; HJC Helmets; and Arai Helmets. Some of these players are using several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares, generate revenue, and raise their production line of the business in the coming years. For instance,
- In October 2018, Steelbird Helmets has signed an off-take arrangement with KUKKA Helmet, a well-known French helmet manufacturer.
- In January 2019, Steelbird Helmets introduced the SA-1, which is the world's first helmet designed specifically for the Indian market.
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