Bike Helmet Market Insights
According to MRFR analysis, the global bike helmet market is expected to register a CAGR of 5.35% from 2023 to 2032 and hold a value of over USD 1.4 billion by 2032.
The Bike Helmet Market is observing increasing trends due to the public's shift toward cycling to stay healthy. The habit of cycling can diminish the increasing rates of obesity and can improve health. Therefore, the need for safety equipment and apparel is pushing. The government is also taking initiatives to use safety equipment while riding bikes. The rules have become compulsory to follow, which is supporting the market. The rise in sustainability issues has led to an upsurge in many global cyclists. The higher sales rate of cycling helmets in the forecast period leads the market to gain a higher share value. The rising disposable income drives purchasing power, and attractive bicycle riding activities. This has increased the bike sales rate globally. Moreover, the enhancements in products and advanced safety features are improving the product appearance, advancing the Bike Helmet Market.
The worldwide outburst of COVID-19 has brought huge uncertainty to the global industry. To control the spread of the COVID-19 epidemic, governments around the world had adopted lockdown interferences and stringent social distancing guidelines. As the coronavirus spread widely, people around the world had begun to practice social distancing, which led to limits on the movement and shutdowns of production lines. All these factors affected automotive sales.
Regional Analysis
Asia Pacific seized the largest market share of more than 65.0% in 2023 due to the strong buyer foothold of the two-wheeler market in countries such as China, India, Indonesia, and Vietnam. Major manufacturers involving, including DaineseSpA, Shoei Co. Ltd, Arai Helmet Ltd, and Schuberth GmbH are launching new products to gain the most customer penetration in the region.
Europe is anticipated to register the highest growth rate during the forecast period. In the global market, Europe is expected to witness the highest CAGR of 7.8% from 2022 to 2030. Motorcycle recordings in this region raised by more than 7.0% in 2023, totaling 949,470 unit recordings. However, it does not account for a substantial portion of the worldwide market as people in Europe use motorcycles for recreational or vacation purposes, while Asians use them for everyday transportation. Hence, with a growing number of electric mopeds or motorcycles, this region is projected to exhibit the highest growth rate during the forecast period.
Market Segmentation
The global bike helmet market has been segmented into type and application.
Based on type, the bike helmet market has been segmented into road helmets, sports helmets, and MTB helmets. The segment of road helmets accounted for the largest market share during the forecast period. Significant market regulations that require the use of helmets in everyday travel have increased the expansion and development of the segment in most countries. In addition, the market regulations for manufacturers and producers of helmets to bring lightweight and safer goods would accelerate the development of the market. However, the sports helmet segment is projected to have the highest CAGR reported during the forecast. The increasing market pattern of sports activities, especially in developed countries, is pouring the growth of the global segment.
Based on application, the global bike helmet market has been segmented into daily travel and sports or adventure. The daily travel category accounted for a greater market share. The upsurge is motivated by the increasing number of injuries and regulation of the government mandates for the use of bike helmets for on-road bikers. In the imminent years, as a part of the forecast period, however, the growing popularity of adventure sports is expected to propel the development of the sports or adventure market. The sports section of the market is also projected to display a higher CAGR over the forecast period.
Key Players
Some of the key bike helmet market players are Vista Outdoor Operations LLC (US), Dorel Sports (Canada), KASK S.p.a. (Italy), Trek Bicycle Corporation (US), Uvex Sports (Germany), Orbea (Spain), Specialized Bicycle Components (US), MET-Helmets (Italy), SCOTT Sports SA. (Switzerland), Limar Srl (Italy)
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