Bike Helmet Market Is Expected to reach USD 1.4 Billion by 2032: Market Research Future (MRFR)
Research Reports
Aug 16, 2023
Market Research Future Insights
According to MRFR analysis, the global bike helmet market is expected to register a CAGR of 5.35% from 2023 to 2032 and hold a value of over USD 1.4 Billion by 2032.
Bike helmets have transcended their utilitarian roots, becoming a canvas for creativity and self-expression. Cyclists can now choose from an array of designs, colors, and features that align with their personal style. From sleek and minimalist designs to bold patterns and high-visibility options, bike helmets offer a blend of fashion and function that resonates with riders of all types.
Safety First: A Global Priority
The importance of bike helmets in preventing head injuries cannot be overstated. Governments, advocacy groups, and health organizations around the world are emphasizing the significance of helmet use, particularly in the context of road safety. The bike helmet market is playing a pivotal role in aligning with these global efforts by providing riders with high-quality, certified helmets that meet international safety standards.
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Key Players
Some of the key 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)
Market Segmentation
The global bike helmet market has been segmented into type and application.
Based on type, the bike helmet market has been segmented into road helmets, sports helmets, and MTB helmets. The segment of road helmets accounted for the largest market share during the forecast period. Significant market regulations that require the use of helmets in everyday travel have increased the expansion and development of the segment in most countries. In addition, the market regulations for manufacturers and producers of helmets to bring lightweight and safer goods would accelerate the development of the market. However, the sports helmet segment is projected to have the highest CAGR reported during the forecast. The increasing market pattern of sports activities, especially in developed countries, is pouring the growth of the global segment.
Based on application, the global bike helmet market has been segmented into daily travel and sports or adventure. The daily travel category accounted for a greater market share. The upsurge is motivated by the increasing number of injuries and regulation of the government mandates for the use of bike helmets for on-road bikers. In the imminent years, as a part of the forecast period, however, the growing popularity of adventure sports is expected to propel the development of the sports or adventure market. The sports section of the market is also projected to display a higher CAGR over the forecast period.
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Regional Analysis
Asia Pacific seized the largest market share of more than 65.0% in 2022 due to the strong buyer foothold of the two-wheeler market in countries such as China, India, Indonesia, and Vietnam. Major manufacturers involving, including DaineseSpA, Shoei Co. Ltd, Arai Helmet Ltd, and Schuberth GmbH are launching new products to gain the most customer penetration in the region.
Europe is anticipated to register the highest growth rate during the forecast period. In the global market, Europe is expected to witness the highest CAGR of 7.8% from 2023 to 2032. Motorcycle recordings in this region raised by more than 7.0% in 2022, totaling 949,470-unit recordings. However, it does not account for a substantial portion of the worldwide market as people in Europe use motorcycles for recreational or vacation purposes, while Asians use them for everyday transportation. Hence, with a growing number of electric mopeds or motorcycles, this region is projected to exhibit the highest growth rate during the forecast period.
Discover more research Reports on Consumer and Retail Industry, by Market Research Future:
Cycling Helmet Market: Information by Type (Road Helmets, Sports Helmets and MTB Helmets), Application (Daily Transportation and Sports/Adventure) and Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) – Forecast till 2030
Motorcycle Apparel Market: Information by Product Type (Helmets, Jackets, Gloves, Shoes, Pants, Base Layers and others), End Use (On-Road Motorcycle Apparel and Off-Road Motorcycle Apparel), Distribution Channel (Store-Based and Non-Store-Based) and Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2027
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