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Global Bike Helmet Market Size was valued at USD 0.7 Billion in 2022. The Bike Helmet market industry is projected to grow from USD 1.2 Billion in 2023 to USD 1.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.45% during the forecast period (2023 - 2032). Bike accidents occurring more frequently, tight laws requiring helmet use, and a trend toward professional cycling contests, are the key market drivers enhancing the market growth.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
The market for bike helmets is anticipated to develop internationally as riding becomes more and more popular as a form of exercise to combat obesity and improve health. The expansion of the global sector is attributed to the absence of strict government guidelines and regulations mandating the use of safety equipment when riding bicycles. Growing sustainability concerns are acknowledged for their contribution to the global growth of cycling. Over the projected time period, it is anticipated that increasing bicycle sales, more bicycle riding, greater disposable income, increased purchasing power, and other variables will lead to an increase in the sales of cycling helmets and an expansion of the bike helmet market share. The expansion of the market is currently supported by product innovations and enhancements with better safety features and an improved product appearance.
Bike helmets are often regarded as essential pieces of safety gear by motorcycle riders. Many bike helmet manufacturers have also been working on high-end features to attract customers to use a helmet. Few manufacturers offer helmets with built-in Augmented Reality (AR) that can show GPS maps and the speedometer on the visor.
Numerous businesspeople have entered the bike helmet market to offer cutting-edge products in response to rising consumer demand for cutting-edge technology. The prevalence of counterfeit helmets is rising, which continues to limit market growth. Helmets that are wrongly advertised and offered for sale for a large discount are regarded as being fake or counterfeit. According to a World Health Organization study, defective, inferior vehicle parts and gears are responsible for up to 360,000 fatalities and 1.5 million injuries annually. Given that these products are frequently produced with inferior materials, the level of comfort and protection that they may provide to their wearers may not be sufficient. Consumer perception of a brand is influenced by the presence of counterfeit items. Fake helmets are increasingly prevalent in Asian markets, particularly in China, Pakistan, and India.
The increased demand for a variety of helmet types, including theme-based, athletic, designer, and sports helmets, has also resulted in tens of thousands of fake helmets entering Asian marketplaces. The U.S. Government Accountability Office estimates that China or Hong Kong is the source of 88.0% of the counterfeit goods in the United States. Due of the ease with which counterfeit items can be located, the market for helmets throughout the predicted term may not expand as swiftly as anticipated. Thus, driving the Bike Helmet market revenue.
The global Bike Helmet market segmentation, based on Type, includes road helmet, sports helmet, and MTB helmet. The road helmet market segment accounted for the largest market share in 2022. In the majority of countries, significant market law requiring the use of helmets during routine travel has boosted the segment's growth and development. Market regulations forcing helmet producers and manufacturers to provide lightweight and safe products would help hasten the industry's growth. But the sports helmet category is likely to experience the highest CAGR over the projection period, which is expected to end in 2028. The growing market need for athletic activities, particularly in developed countries, is what is fueling the growth of the international segment.
The global Bike Helmet market segmentation, based on Application, includes daily transportation and sports/adventure. The daily transportation segment held a greater market share in 2022. The factors driving the expansion are the increase in injuries and the laws regulating helmet use by on-road bikers. However, it is projected that the popularity of adventure sports will fuel the expansion of the sports or adventure sector throughout the coming years, part of the forecast period concluding in 2028. Throughout the projection period, a higher CAGR is predicted for the market's sports/adventure category.
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Source: Secondary Research, Primary Research, RESEARCH LAYER Database and Analyst Review
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Bike Helmet Market dominated this market in 2022 (45.80%). This is due to the fact that an increasing number of cycling tournaments and championships are inspiring individuals to purchase bicycles. For instance, the USA regularly stages a number of well-known cycling contests, including The Iditaroy Invitational, Race Across America, and the USA Cycling Elite BMX National Championships. Additionally, the large population participating in outdoor activities like cycling is probably going to increase consumption. For instance, 50.5 percent of the entire US population engaged in outdoor activities in 2018, up 3.1 percent from the previous year, according to National Parks Travel.Org. Further, In the North American area, the U.S. Bike Helmet market had the biggest market share, while the Canada Bike Helmet market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
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The Asia Pacific Bike Helmet market, is expected to register fastest growth from 2023 to 2032. Due to rising cycle manufacturing brought on by the industry's major players and the region's growing preference for cycles as a result of the shift to sustainable modes of transportation, there is a growing need for cycling helmets in the Asia Pacific region. The need for cycling helmets for a safer and better cycling experience as well as the Asia Pacific region's road cycling championships are additional factors influencing the market growth for cycling helmets. Moreover, In the Asia-Pacific region, the Indian Bike Helmet market had the quickest rate of growth while China's Bike Helmet market had the greatest market share.
Europe Bike Helmet market accounts for the significant market share. The growing popularity of bicycles as a form of transportation in a number of the countries in this region is anticipated to enhance market growth. For instance, according to the World Economic Forum, the Netherlands will have more bicycles than people in February 2020, and in Amsterdam, bicycle transport will make up about half of all trips between residences and places of employment. Further, In the European region, the German Bike Helmet market had the biggest market share, and the U.K. Bike Helmet market had the quickest rate of growth.
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Bike Helmet market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Bike Helmet sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Bike Helmet industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Bike Helmet sector. Major players in the Bike Helmet market, including Vista Outdoor Operations LLC, Dorel Sports, KASK S.p.a., Trek Bicycle Corporation, Uvex Sports, Orbea, Specialized Bicycle Components, MET-Helmets, SCOTT Sports SA., and Limar Srl, are attempting to increase market demand by investing in research and development operations.
Eicher Motors Ltd. (EML) produces and sells motorcycles and commercial vehicles. Along with apparel, soft products, and spare parts, it also sells motorbike accessories. Mid-size adventure and leisure motorcycle production is another area of expertise for EML. Under the Royal Enfield name, the company offers motorcycles for sale. Its product lines include the Bullet, Classic, Interceptor, Thunderbird, Continental GT, and Himalayan. The company also creates, manufactures, and markets dependable, fuel-efficient cars and buses. In addition, it offers buses, medium- and heavy-duty trucks, as well as Volvo trucks. The company also produces personal utility cars. It has operations in South Asia, the Middle East, Europe, the United States, and the United Kingdom. EML's corporate headquarters are in Gurugram, Haryana, India. Helmet for India, a nonprofit, and Royal Enfield, a division of Eicher Motors, teamed up in January 2022. The Royal Enfield organization is presently focusing on products and riding gear for the promotion of road safety with its broad list of partnerships and collaborations. Through this agreement, more people will be made aware of the importance of using a helmet to reduce risk factors including accidents.
Telstra Group Ltd. (Telstra) provides information services and telecommunications. The business provides devices, fixed and wireless internet, Pay TV, home and mobile phones, mobile phones, and mobility solutions. It also works on constructing the infrastructure required for fixed, mobile, IP, and data networks. The company offers a variety of services, including cloud computing, enterprise solutions, integrated services, and unified communications. Telstra provides services to big businesses, private clients, and small and medium-sized businesses. It operates call centers, retail locations, distribution networks, and internet platforms. Asia-Pacific, Australia, the Americas, Europe, the Middle East, and Africa are just a few of the regions where the corporation conducts business. Australia's Melbourne, Victoria, is where Telstra's headquarters are located. In June 2021, Telstra and Arenberg, a bicycle firm with headquarters in Sydney, joined together to develop a 5G linked helmet prototype. On-road safety for bikers will improve as a result. Arenberg's has lately unveiled a helmet with live video broadcasting capability. Telstra developed a variety of applications for safety. A road safety alert system that will tell bikers about accident detection, traffic blocks, and car doors is one of these. Another is an alert system for cameras with increased sensing capabilities.
· Vista Outdoor Operations LLC
· Dorel Sports
· KASK S.p.a.
· Trek Bicycle Corporation
· Uvex Sports
· Orbea
· Specialized Bicycle Components
· MET-Helmets
· SCOTT Sports SA.
· Limar Srl
August 2020: The new Voronoi cycling helmet from Hexr was released. It was parmetrically developed.
March 2019: It has been reported that Trek and Bontrager will produce bicycle helmets using the newest WaveCel technology.
· Road Helmet
· Sports Helmet
· MTB Helmet
· Daily Transportation
· Sports/Adventure
· North America
- US
- Canada
· Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
· Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
· Rest of the World
- Middle East
- Africa
- Latin America
|
Report Attribute/Metric |
Details |
|
Market Size 2022 |
USD 0.7 Billion |
|
Market Size 2023 |
USD 1.2 Billion |
|
Market Size 2032 |
USD 1.8 Billion |
|
Compound Annual Growth Rate (CAGR) |
5.45% (2023-2032) |
|
Base Year |
2022 |
|
Market Forecast Period |
2023-2032 |
|
Historical Data |
2018- 2022 |
|
Market Forecast Units |
Value (USD Billion) |
|
Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
|
Segments Covered |
Type, Application, and Region |
|
Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
|
Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
|
Key Companies Profiled |
Vista Outdoor Operations LLC, Dorel Sports, KASK S.p.a., Trek Bicycle Corporation, Uvex Sports, Orbea, Specialized Bicycle Components, MET-Helmets, SCOTT Sports SA., and Limar Srl |
|
Key Market Opportunities |
Technological developments |
|
Key Market Dynamics |
Stringent laws mandating the use of helmets, growing trend of professional cycle races, and increasing instances of bike accidents |
The global Bike Helmet Market was valued at USD 0.7 billion in 2022, and it is estimated to reach USD 1.8 billion by 2032.
The global market is projected to grow at a CAGR of 5.45% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Vista Outdoor Operations LLC, Dorel Sports, KASK S.p.a., Trek Bicycle Corporation, Uvex Sports, Orbea, Specialized Bicycle Components, MET-Helmets, SCOTT Sports SA., and Limar Srl
The Road Helmet Type dominated the market in 2022.
The Daily Transportation Application had the largest share in the global market.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65237
Published on :
Sep 2023
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