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The MIPS bicycle helmets market size is estimated to grow at a CAGR of 5.72% between 2022 and 2027. The market size is forecast to increase by USD 124.19 million. The growth of the market depends on several factors, including the advantages of MIPS bicycle helmets, increasing mountain biking activities, and the rising prominence of online sales.
This MIPS bicycle helmets market report extensively covers market segmentation by application (commuter and recreation and sport games), distribution channel (offline and online), and geography (Europe, North America, APAC, South America, and Middle East and Africa). 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 advantages of MIPS bicycle helmets are notably driving the market growth, although the availability of counterfeit products of bicycle helmets 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 advantages of MIPS bicycle helmets are notably driving the MIPS bicycle helmets market growth. MIPS uses a slip-plane system that works inside the helmet. This layer is designed to rotate within the helmet, potentially slowing or reducing the amount of energy transferred to and from your head. The rotational acceleration of the head due to an accident can put great stress on brain tissue. Tissue stretching can be caused by rotational movements, leading to various types of brain injury. Therefore, MIPS technology reduces the severity of brain injury by reducing stress on brain tissue. Also, due to the aforementioned advantages of MIPS bicycle helmets, various vendors are adopting MIPS technology in their bicycle helmets. Therefore, the benefits of MIPS bicycle helmets such as high protection against injuries coupled with the various product offerings of vendors will drive the growth of the market during the forecast period.
Increasing demand for bicycle commuting is a key trend influencing the MIPS bicycle helmets market growth. The proliferation of internet-enabled mobile devices in countries such as the United States, China, and India are driving a steady shift to online retail platforms as the preferred purchasing channel. Factors such as fast delivery service and easy product comparison have been key to the growth of the online retail channel for MIPS bike helmets. A steady transaction, for example, specialty stores continue to be the main sales channel for MIPS bicycle helmets, but consumers are gradually moving to online purchasing platforms. Most vendors see the limited space available in retail stores as a bottleneck when managing large amounts of inventory. These shortcomings force vendors to use online channels as an alternative to enhance the retail experience.
The online channels capture the attention of customers by offering a range of features, an easy return policy, doorstep delivery, customer fitting guides with videos on how to choose a better product, and discounts. Such advantages increase the demand for MIPS bicycle helmets and drive the growth of the market. Hence, increasing sales of MIPS motorcycle helmets via online platforms will boost the growth of the market during the forecast period.
The availability of counterfeit products of bicycle helmets is challenging the MIPS bicycle helmets market growth. Especially in developing regions, the number of counterfeit consumer products such as MIP bike helmets is on the rise due to the potential for disorganized retailers. The rise of Chinese manufacturing has also increased the risk of counterfeit MIPS bike helmets. These included counterfeit Consumer Product Safety Act stickers. Counterfeit products are made from inferior raw materials and are less durable. Widespread e-commerce channels facilitate the distribution and sales of counterfeit goods by making them accessible across geographies. Due to the similar appearance, customers may not be able to tell the difference between the real and the fake.
Counterfeits are popular because they are cheap. The availability of counterfeit products therefore adversely affects a vendor's sales and pricing strategy as these products dilute the vendor's market share and damage its reputation. Advertising and promotional campaigns help vendors retain and attract customers and ensure brand loyalty. However, such promotional activities add additional costs to providers and reduce profit margins. The availability of counterfeit goods, therefore, has a negative impact on the mass sales of vendors operating in the market. This impedes the growth of the market during the forecast period.
The 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 MIPS Bicycle Helmets Market Customer Landscape
Vendors 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.
ABUS August Bremicker Sons KG: The company offers bike security solutions which include anti-theft systems as well as bike helmets for children as well as for adults.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, 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 commuter and recreation segment will be significant during the forecast period. MIPS bicycle helmets are used by commuters who travel to different locations by bicycle. The adoption of MIPS bike helmets is more common in North American and European countries due to the increasing acceptance of bicycles for commuting. The European market is increasingly accepting MIPS bicycle helmets due to strict mandatory regulations on the use of bicycle helmets for children in various countries. Additionally, cycling is very popular in countries such as Denmark and the Netherlands. Hence, the high popularity of cycling in such countries coupled with increasing demand for commuter bikes will drive the growth of the segment and hence the market during the forecast period.
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The commuter and recreation segment was valued at USD 204.67 million in 2017 and continued to grow until 2021. Acceptance of MIPS bike helmets is low in developing regions such as South America and MEA but is expected to increase during the forecast period due to increased safety awareness among riders. In Japan and other countries, it is mandatory to wear a bicycle helmet. The Japanese government has made it mandatory to wear bicycle helmets. Additionally, the high number of bicycle accidents has contributed to the acceptance of MIPS bicycle helmets. Hence, increasing adoption of MIPS bicycle helmets for safety reasons will drive the growth of the market during the forecast period.
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Europe is estimated to contribute 38% to the growth of the global MIPS bicycle helmets market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in this region is expected to witness significant growth during the forecast period, owing to factors such as increasing demand for power-assisted bicycles, an increasing number of cycling sporting events, and increasing demand for commuter bicycles. Customers are opting for these bikes due to high fuel prices and traffic congestion. Additionally, these bikes are a portable, lightweight alternative to scooters and electric vehicles. Rising demand for bicycles will lead to the growth of the market in Europe during the forecast period.
In 2020, the COVID-19 pandemic had a negative impact on bicycle sales and production across the world due to lockdown enforcement. This had a negative impact on public transport systems due to social distancing norms put in place to curb the spread of the disease. However, governments from across the world upheld the priority of cycling through subsidies and infrastructure development. This increased the demand for bicycles and increased the demand for MIPS bicycle helmets in 2020. However, the closure of offline sales channels for MIPS bicycle helmets has had a negative impact on the market. Additionally, in 2021, the world entered a recovery phase, with the arrival of a major vaccination campaign and the easing of lockdown measures. This re-launched offline sales channels globally. Also, the increasing acceptance of bicycles by commuters will drive the growth of the market during the forecast period.
The MIPS bicycle helmets market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global MIPS bicycle helmets market as a part of the global leisure products industry within the global household durables market. The parent market, the global leisure products market, covers various categories such as sporting goods, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer games.
MIPS Bicycle Helmets Market Scope |
|
Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.72% |
Market growth 2023-2027 |
USD 124.19 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.3 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 38% |
Key countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABUS August Bremicker Sons KG, Active Brands AS, Bern, Cycling Sports Group LLC, Demon Electric, Giant Bicycle India, Hostettler AG, Limar Srl, MAVIC Group, Merida Industry Co. Ltd., MET SPA, MIPS AB, One Industries, ORBEA S. COOP. LTDA, POC Sweden AB, SCOTT Sports SA, Specialized Bicycle Components Inc., Vista Outdoor Inc., Lumen Labs Inc., and Frasers Group plc |
Market dynamics |
Parent market analysis, 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 |
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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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