Bike Helmet Market Size Analytical Overview, Growth Factors, Trends and Forecast

Bike Helmet Market -Overview

The existence of safety legislation, and the emergence of helmet-related rules, is thus projected to fuel the development of the bike helmet sector during the period. As per MRFR, the market is estimated to gain a CAGR of 5.35% to achieve an income of USD 1.12 billion by 2028.

Different countries have different functional and safety rules for bike riders. Furthermore, a significant increase in the number of bikes on the road has resulted in a high crash rate, influencing global sales of bike helmets in the global market premises.

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Industry Updates:

Feb 2022 Pedal Me, a business in London that operates a fleet of 80 Urban Arrow cargo e-bikes that transport both cargo and passengers, has prohibited riders from wearing helmets. The announcement has sparked debate about efficiency and, as a result, the need to wear a helmet when riding a bike. Knowles claims on social media, both his personal and the company’s, that the law of risk compensation (RC) means that motorcyclists who wear helmets are more willing to take risks in traffic.

Segmental Analysis

By type, the bike helmet market consists of sports helmets, road helmets, and MTB helmets. The bike helmet market consists of everyday travel and sports or adventure based on the application. The bike helmet market consists of North America, Europe, APAC, and other valuable regions.

Detailed Regional Analysis

Due to various accessible financing, the European continent is seeing a substantial increase in research and development. Over this period, the market is predicted to expand with Italy, part of the European market, and is expected to be the speediest country-level market during the forecast period. Cycling helmets are estimated to hold the largest share in the European market. Production units and manufacturing firms spend in research and development divisions to create innovative items such as smart helmets. The new helmet invention comprises LEDs on helmets that aid in visibility at night and, as a result, are responsible for outstanding market growth over the era.

The APAC area is seeing a considerable rise in recognition of cycling safety, and stringent regulation by global governments in the region supports the growth of demand for bike helmets. Due to an increase in the frequency of road injuries in India, target customers are purchasing and demanding safer helmets, and the popularity of bike helmet sales is likely to climb across the country in the coming years. The biggest market share is predicted to be maintained by the United States due to multinational producers and manufacturers spending extensively in emerging markets.

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Competitive Analysis

Governments worldwide are committing their support for market-friendly changes. The improving trade relations are projected to increase the international market in the coming years. The industry is anticipated to boost as new products are introduced that focus on satisfying the evolving requirements of their respective client bases. The use of the internet for sales and marketing is expected to expand the market’s prospects during the forecast period. The global pandemic has given firms a new mandate for the purchase process and a quick acceleration of digital transformation. New business models and perceptions are evident in current core operations and support services in the forecast term. Implementing comprehensive research approaches to assess the market’s future development is expected to aid market development. The market’s development is projected to be hindered shortly due to a shortage of critical resources. The function of mergers and applications is expected to become critical in maintaining development speed in the coming era.

The primary companies in the bike helmet market are Dorel Sports (Canada), KASK S.p.a. (Italy), SCOTT Sports SA. (Switzerland), Trek Bicycle Corporation (US), Uvex Sports (Germany), Vista Outdoor Operations LLC (US), Orbea (Spain), Specialized Bicycle Components (US), MET-Helmets (Italy), and Limar Srl (Italy).

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