Market overview:
Bike helmet market size is anticipated to reach USD 1.12 billion by 2028, registering a CAGR of 5.35% during 2021-2028.
Cycling as a habit can help to reduce obesity rates and improve health. As a result, the demand for safety equipment and clothing is increasing. The government is also promoting the use of bicycle safety equipment. The rules are now mandatory to follow, which benefits the market. The rise in environmental concerns has increased the number of global cyclists. Cycling helmet sales increase during the forecast period, causing the market to gain a higher share value. Growing disposable income increases purchasing power, which boosts bicycle riding activities. This has increased bike sales worldwide. Furthermore, product enhancements and advanced safety features improve product appearance and drive the Bike Helmet Market. The Bike Helmet Market trends is experiencing rising due to the public's preference for cycling to stay fit.
Technological advancements have aided market participants in introducing smart helmets to the market. Smart helmets have advanced features that assist riders in riding safely and efficiently while avoiding road accidents. GPS connectivity, tracking systems, cameras, voice assistance, Bluetooth connectivity, Wi-Fi connectivity, and emergency buttons are among the features of smart helmets. Smartphones can communicate with smart helmets. This allows the rider to make, accept, and reject phone calls. Smart helmets will also help to reduce head injuries in traffic accidents. As a result, introducing multi-functional smart motorcycle helmets will provide the market with lucrative growth opportunities. The COVID-19 pandemic negatively impacted the motorcycle helmet market, but sales are expected to increase in the coming period.
Market segmentation:
The worldwide Bike Helmet Market is segmented by:
By Product Type
- Full-face
- Open face
- Modular
- Off-road
- Half-helmets
- Dual sports
- Others
By End User:
- Kids
- Adults
By Distribution Channel:
- E-commerce
- Specialty Stores
- Supermarkets Hypermarkets
- Others
Key Players
Some of the key Bike Helmet market players are Vista Outdoor Operations LLC (US), Dorel Sports (Canada), KASK S.p.a. (Italy), Trek Bicycle Corporation (US), Uvex Sports (Germany), Orbea (Spain), Specialized Bicycle Components (US), MET-Helmets (Italy), SCOTT Sports SA. (Switzerland), Limar Srl (Italy)
Regional analysis:
The global economy has been geographically described in four major regions: Asia Pacific, North America, Europe, and the rest of the world. Because of ready funding and investment, the European region is seeing a significant increase in research and development. The European bike helmet market is expected to be the largest during the forecast period, which ends in 2028. The region accounted for 36.35 percent of the total market share during the historic forecast period, which ended in 2019. During this period, the market is expected to grow at a CAGR of 7.46 percent, with Italy, as part of the European market, expected to be the fastest-growing country-level market during the forecast period. Manufacturing firms and Production units invest in research and development departments to create new products such as smart helmets. The new helmet invention consists of LEDs on helmets that aid in visibility at night and, as a result, are responsible for excellent market growth during the period.
Recent developments:
- In 2022, Royal Enfield partnered with the non-profit organization Helmet for India. With its list of collaborations and partnerships, the Royal Enfield company is currently focusing on merchandise and riding gear for road safety promotion. This collaboration will raise public awareness about the importance of wearing a helmet to protect themselves from hazards such as accidents.
- In 2021, Telstra and Arenberg, a Sydney-based cycling brand, collaborated to create a prototype 5G connected helmet. This will improve cyclists' on-road safety.
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