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The bike helmet market is estimated to grow by USD 274.15 million at a CAGR of 5.46% between 2022 and 2027. The growth of the market depends on several factors, including the rising number of mountain bicycle clubs and events, the rise in government initiatives promoting cycling, and the growing prominence of biking as an outdoor recreational activity.
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It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 - 2021.
The market share growth by the road helmets segment will be significant during the forecast period. In 2022, the segment accounted for the largest share of the global market. In recent times, these have largely evolved into elongated shapes with vents, and these are constructed with expanded polystyrene (EPS) foam.
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The road helmets segment was valued at USD 308.57 million in 2017 and continued to grow until 2021. Significant regulations requiring the use of these in regular transportation have aided segment growth in the majority of countries. Additionally, mandating lightweight and safer from manufacturers will boost market growth. Furthermore, the demand has been fueled by the rising purchasing power of the world's middle classes as well as the rise in bike accidents in recent years. During the forecast period, it is anticipated that these factors will propel the growth of the segment of the global market.
Major Trend
A growing trend in market growth is the increasing demand for personalized cycling helmets, particularly among corporate users, associations, and clubs. This involves customization in design, colors, names, branding, and materials for various bikes. Developed regions like the Americas and Europe have seen a rise in demand for customized products, including cycling protection wear, over the past five years. This trend is also gaining traction in developing nations like China and India. These personalized products come at a higher price than standard ones, and premium market leaders offer aesthetically pleasing customized options. This customization trend has boosted global sales, contributing to the growth of the global market in the forecast period.
Significant Challenge
A significant hurdle to market growth is the escalating prices of raw materials. Anticipated increases in the costs of raw materials, particularly polycarbonate foam used in construction, are expected to impact the widespread use in the forecast period. The primary reason for this cost hike is the aerodynamic design of these, providing head protection while allowing air to pass through.
Inexpensive feature outer shells made from stamped polyethylene terephthalate (PET) or similar plastic, adhered to the liner, and taped around the edge for aesthetic purposes. These straps commonly use materials like nylon or polypropylene, each with unique fabrics, finishes, weaves, and characteristics despite similar outward appearances. Consequently, fluctuations in raw material prices, including polystyrene, polycarbonate, PET, and nylons, are expected to hinder the growth of the global market in the forecast period.
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Europe is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
A key driver of market expansion in Europe is the widespread availability and preference for premium cycling apparel. The region's high living standards, coupled with the introduction of innovative products and strong brand recognition for premium goods, contribute to this market growth and trends. France, Italy, and the UK account for a significant portion of the regional market.
Government and various organizations actively promote outdoor activities, including cycling, in the region. Initiatives by entities like the World Health Organization (WHO) and government-sponsored programs have boosted the demand and increased the popularity of cycling as both a sport and fitness activity. Government-sponsored programs encouraging cycling for transportation further support sustainability and energy-efficient transportation, contributing to reduced carbon emissions and environmental protection. These factors are expected to positively influence market growth during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
MET SPA - The company primarily focuses on designing and manufacturing of off-road and on-road helmets. The key offerings of the company are Urbex Mips, Intercity Mips, and Mobilite Mips.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is crucial for ensuring road safety, particularly among motorbike and sports bike enthusiasts. With road traffic injuries being a significant concern, studies like the United Nations Motorcycle Helmet Study and data from the Centers for Disease Control and Prevention (CDC) highlight the importance of helmet use. The market has seen shifts due to lockdown interventions and social distancing guidelines, impacting automotive sales and the rise of electric motor scooter services.
Organizations like the National Highway Traffic Safety Administration (NHTSA) work to reduce road accidents through awareness and regulations. The Indian government is also focusing on road safety, driving technological advancements such as smart helmets. Brands like Honda, Ducati, Suzuki, and Yamaha offer luxury motorcycles with safety features. National Center for Biotechnology Information researches its effectiveness, especially concerning counterfeit products. They come in various types like full-face and open-face products, catering to riders and passengers. Distribution occurs through online channels and offline distribution channels, with companies like Tiivra and Spark Minda leading the market with innovative designs and technologies.
Bike Helmet Market Scope |
|
Report Coverage |
Details |
Page number |
155 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.46% |
Market growth 2023-2027 |
USD 274.15 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.50 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 44% |
Key countries |
US, Japan, The Netherlands, Denmark, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABUS August Bremicker Sons KG, Casco International GmbH, Giant Bicycle India, Halfords Group Plc, KASK Spa, Guangdong Senhai sporting goods Co. Ltd., Limar Srl, Locatelli Spa, Louis Garneau, MAVIC Group, Merida Industry Co. Ltd., MET SPA, ORBEA S. COOP. LTDA, Rudy Project SpA, SCOTT Sports SA, Shenzhen GUB Bicycle Trading Co. Ltd., Shunde Moon Helmet Co. Ltd, Specialized Bicycle Components Inc., Trek Bicycle Corp., and ZhuHai Safety Helmets MFG Co. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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