Motorcycle Helmet Market, Overview 2030
The global motorcycle helmet market size was valued at $2,444.5 million in 2020, and is projected to reach $4,294.8 million by 2030, registering a CAGR of 6.1%.The motorcycle helmet helps to protect the head of riders. It acts as a protective head gear for the motorcycle users. Various types of regulations are implemented for the use of motorcycle helmets which also helps to increase the sales of products during the forecast period.
Road traffic accidents have become a serious issue for many countries. It is one of the leading causes of death among children and young adults across the globe. The rising number of government initiatives and implementation of strict traffic regulations may help the government reduce the number of road accidents drastically. The current Indian government is aiming at reducing the road accidents by 50% by 2024. The government initiatives in Australia have been successful in reducing the road accidents by two-thirds since 1970 by adopting countermeasures for drunk driving. Moreover, government has mandated the motorcyclists to wear helmet in most of the nations. Therefore, the rising role of government in improving the road traffic conditions by implementing strict regulations, building better roads, and spreading awareness regarding the negative effects of drunk driving is expected to boost the market globally.
The lack of consumer awareness regarding the road safety regulations, especially among the rural areas may hamper the growth of the global market. Moreover, the lack of government authorities to implement proper traffic regulations in the rural areas of developing and under developed nations is a major factor that hampers the adoption of motorcycle helmet among the consumers. This may adversely affect the market growth during the forecast period.
By Product Type
Modular segment is expected to grow at highest CAGR of 7.3% during the forecast period
The technological advancements have helped market players to introduce the smart helmets in the market. Smart helmets have advance features that helps riders to ride easily and efficiently by avoiding road accidents. Some of the features that smart helmets include are GPS connectivity, tracking systems, cameras, voice assistance, Bluetooth connectivity, Wi-Fi connectivity, and emergency buttons. The smartphones can be connected to smart helmets. This helps rider to make, accept, and reject calls. The use of smart helmets will also help to reduce head injuries during the road accidents. Thus, the introduction of multi-functional smart motorcycle helmets will provide lucrative growth opportunities for the market.
The COVID-19 pandemic had an adverse effect on the motorcycle helmet market, but the sales are expected to ramp up in the upcoming years. This is majorly due to the increasing demand for the motorcycles especially in the Asia-Pacific region. The increased demand for the motorcycle is an output of the increased awareness regarding the spread of the virus. Avoidance of public transport to prevent the corona disease, reopening of workplaces, and rising demand from the urban areas are expected to drive the sales of two-wheelers in the forthcoming years that will boost the demand for the motorcycle helmets among the consumers.
By End User
Kids segment is expected to grow at highest CAGR of 6.5% during the forecast period.
According to motorcycle helmet market analysis, the market is segmented on the basis of product type, end user, distribution channel, and region. On the basis of product type, the market is categorized into full-face, modular, open-face, half-helmets, off-road, dual-sports, and others. As per end user, the market is divided into adults and kids. According to distribution channel, it is fragmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others. Region wise, the motorcycle helmet market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific contributed the highest revenue in 2020 and is expected to dominate the market during the forecast period.
By product type, the full-face segment garnered the highest motorcycle helmet market share in 2020, as this kind of helmet provides overall protection to rider’s face and head. On the basis of end user, the adults segment is anticipated to dominate the motorcycle helmet market with the highest share during the motorcycle helmet market forecast. This is attributed to necessity of helmet for adults as they ride motorcycles on the large scale. Depending on distribution channel, the specialty stores segment led the market in 2020. This is attributed to the fact that these stores offer wide variety of products.
By Distribution Channel
Specialty Stores segment is expected to grow at highest CAGR of 6.6% during the forecast period.
Rise in smartphone users across the globe has contributed toward the growth of online sales channels in recent years. With mobile devices, consumers are buying and selling products over the internet more flexibly and passively than ever before. FinTech companies are transforming their payment methods, making transactions secure and simple. Furthermore, these companies are partnering with leading banks that offer discounts on the products, which is likely to create a large customer base for online shopping. Thus, the expansion of online sales channel is expected to bolster the market growth of motorcycle helmets during the forecast period.
The prominent motorcycle helmet industry participants include Arai Helmets, HJC Helmets, Manufacturas Tomas SA, Nolan Helmets SPA, Schuberth GMBH, Shark Helmets, Shoei Co. Ltd, Studds Accessories Ltd, Bell Helmet, and Dainese S.P.A.
By Regions
North America dominates the market and is expected to grow at highest CAGR of 6.4% during the forecast period.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current motorcycle helmet market trends, estimations, and dynamics of the global motorcycle helmet market from 2021 to 2030 to identify the prevailing motorcycle helmet market opportunities.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global industry.
- The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
- The report includes analyses of the regional as well as global market, key players, market segments, application areas, and motorcycle helmet market growth strategies.
Motorcycle Helmet Market Report Highlights
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Analyst Review
According to the insights of CXOs of leading companies, motorcycle helmets are becoming increasingly popular among riders due to their increased security, safety, and comfort. Government-imposed road safety laws and increased awareness of personal safety are projected to fuel the demand for motorcycle helmet.
Surge in demand for safety motorcycle helmet accessories, increase in sales of motorcycles, and stringent road safety regulations are factors that are driving the growth of motorcycle helmet market. The factors such as expansion of online sales channel and introduction of multi-functional smart helmets are creating growth opportunities for the development of the motorcycle helmet market.
However, high cost of motorcycle helmets and lack of consumer awareness regarding road safety hinder the growth of market. Conversely, rise in government initiatives for creating awareness about road accidents and head injuries is expected to offer lucrative opportunities for the growth of the motorcycle helmet market during the forecast period.
The CXOs further added that Asia-Pacific is the largest market for motorcycle helmets, owing to rise in disposable income and increase in urbanization.
The global motorcycle helmet market size was valued at $2,444.5 million in 2020, and is projected to reach $4,294.8 million by 2030, registering a CAGR of 6.1%.
The forecast period in the motorcycle helmet market report is from 2020 to 2030.
The base year calculated in the motorcycle helmet market report is 2020.
The top companies that hold the market share in the motorcycle helmet market include Arai Helmets, HJC Helmets, Manufacturas Tomas SA, Nolan Helmets SPA, Schuberth GMBH, Shark Helmets, Shoei Co. Ltd, Studds Accessories Ltd, Bell Helmet, and Dainese S.P.A.
The full-face segment is the most influencing segment growing in the motorcycle helmet market report.
Asia-Pacific holds the maximum market share of the motorcycle helmet market.
The company profile has been selected on the basis of various strategies such as product launch, partnership, joint venture, and agreement.
The global motorcycle helmet market size was valued at $2,444.5 million in 2020.
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