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The protective motorbike riding gear market size is estimated to increase by USD 4,457.03 million and to grow at a CAGR of 5.97% between 2022 and 2027. The growth of the market depends on several factors, including an increasing number of road accidents, a growing focus on innovations, and regulatory mandates for using motorcycle helmets.
It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing number of road accidents is notably driving the market growth, although fluctuations in raw material prices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The increasing number of road accidents is notably driving the market growth. One of the biggest challenges for motorcyclists is the increase in traffic accidents due to poor road infrastructure and an increase in the number of cars on the roads. Traffic accidents often present multiple injury-related disabilities to drivers and can lead to disability. For example, a sudden blow to the spinal cord from a herniated disc can cause traumatic spinal cord injury. According to the World Health Organization (WHO), about 1.35 million people die in road accidents every year, and 20 to 50 million people get fatally injured.
The growing popularity of Smart Helmets is a key trend influencing the market growth. Factors such as advances in smart technology and rising consumer awareness have increased the demand and favorability of smart products across the globe, forcing market makers to innovate and introduce smart helmets. Smart helmets are slightly more expensive than regular helmets, but their features and comfort are driving demand. Additionally, the helmet manufacturer is incorporating wireless technology into its products to make them compatible with currently available smart devices. Smart helmet features include advanced noise control, ambient audio capabilities, audio multitasking, and built-in speakers and microphones.
Hence, the introduction of these smart helmets coupled with the growing preference for connected devices is expected to drive the growth of the market during the forecast period.
Fluctuations in raw material prices are challenging the market growth. Motorcyclist equipment such as helmets, suits, knee pads, elbow pads, and boots are made from multiple raw materials depending on their function. Commonly used raw materials for helmets include, for example, thermoplastic shells, advanced fiberglass shells, Kevlar and carbon composite shells, and various expanded polystyrene (EPS) foams. Protective clothing is made of textile or leather. Leather is the most preferred material but technological advances are driving demand for durable synthetic leather riding suits with proper padding and safety measures. The popularity of leather-like riding suits is increasing due to their low price and lightweight. Prices for these materials are subject to change and fluctuate based on changes in oil prices. In addition, the procurement of such raw materials may include additional costs associated with transportation and other necessary services, supplier limitations, and the inability to maintain favorable supplier agreements for the proper and timely delivery of raw materials.
Manufacturers also bear the costs associated with shipping raw materials to factories, shipping intermediate products to manufacturing sites, shipping finished products to warehouses, and shipping finished products to end users. Transportation costs incurred by companies include taxes, customs duties, and fuel costs. An increase in transportation costs, therefore, increases the price of the product. However, the market is highly competitive and vendors are unable to increase the prices of their final products, resulting in lower profit margins. Such factors are expected to hamper the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
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.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market players, including:
Qualitative and quantitative analysis of vendors 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 vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the helmets segment will be significant during the forecast period. Helmets dominate the market. Helmets are the leading product in the market. Worn by motorcyclists of all types for their daily commute, travel, road trips, and sporting activities. There is a wide range of helmets on the market that are suitable for different purposes. These helmets comply with various regional standards. All these factors are driving the growth of the helmet segment.
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The helmets segment was valued at USD 7,441.89 million in 2017 and continued to grow until 2021. In some regions and countries, there are no laws regulating the use of motorcycle helmets, so motorcyclists avoid wearing helmets. In the United States, only 15 of the 50 states have laws requiring the use of motorcycle helmets and protective gear when riding motorcycles. However, demand for helmets is likely to increase during the forecast period. This is due to increased awareness of road safety parameters, the growing popularity of motorcycles, and rising disposable incomes. All these factors have also increased the demand for quality, smart helmets, and continued innovation.
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APAC is estimated to contribute 81% 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.
APAC is one of the most dominant markets in the world. India is a major contributor and represents the largest market in APAC. A major factor behind the growth of the market in India is the increasing adoption of motorcycles in the country. India, China, Indonesia, and Thailand also contribute significantly to the demand for protective clothing for motorcycles due to their high motorcycle sales volume. Other important influencing factors are the growing population of people aged 15-64 and the growing popularity of motorcycles. Rising income levels and growing middle-class populations in emerging markets have created a huge demand for sports bikes in emerging Asia-Pacific countries such as India and China. The increasing adoption of sports bikes has a positive impact on revenue growth in the targeted markets. The 15 to 64 age group population is an important demographic cohort for motorcycle activity and has increased significantly over the past five years. This increased target customer base and is therefore expected to boost the demand during the forecast period.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market is crucial for ensuring rider security and enhancing the overall riding experience. Factors such as fatal injuries, weather conditions like rain, snow, and cold, as well as wind, emphasize the importance of high visibility motorcycle gear and proper protective equipment.
Governments in leading countries are implementing strict policies and fines to enforce road safety, impacting the motorcycle protective gear industry. The ongoing pandemic has led to the closure of factories and unavailability of the workforce, affecting production and manufacturing costs. Despite these challenges, the sector is evolving with improvements in product features, such as Bluetooth connectivity, ambient audio capabilities, navigation, and built-in speakers and microphones.
Consumer preferences are driving the demand for comfortable and customizable helmets with proper padding and ventilation. Stringent government laws, including Bureau of Indian Standards norms, are further shaping the market. Despite the restraints, the market is expected to witness growth, with opportunities for investment and innovation in protective motorbike riding gear.
Protective Motorbike Riding Gear Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.97% |
Market growth 2023-2027 |
USD 4,457.03 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.11 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 81% |
Key countries |
US, China, India, Indonesia, and Thailand |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alpinestars USA Inc., ARAI Helmet Ltd., Belstaff International Ltd., Caberg Spa, Dainese Spa, FLY Racing, Leatt Corp., REVIT Sport International BV, RYNOX GEARS, Schuberth GmbH, Sena Technologies Inc., SHOEI Co. Ltd., Shot Race Gear USA, Spidi Sport Srl, SULLIVANS Inc., Vale Brothers Ltd., Vega Auto Accessories Pvt. Ltd., Vista Outdoor Inc., Youngone Corp., and ZEUS MOTORCYCLE GEAR |
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 the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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