China Premium Motorcycle Helmet Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
The China Premium Motorcycle Helmet Market is projected to grow with a CAGR of more than 5% during the forecast period.
Key HighlightsThe sales of premium motorcycles have also been increasing in China despite stringent regulations and bans on two-wheelers in the country for a few years in the country. There are laws in many cities in China that restrict the use of two-wheelers on city roads. Despite rules constraining the use of motorcycles, the sale of two-wheelers in the country has recorded an increase. Among the numbers, most two-wheeler vehicles imported in the country were premium motorcycles with engine displacement over 800cc.
Chinese motorcycles are exported to other regions apart from Asia such as Africa, the Middle East, South America, and even in the United States. Although acceptance of Chinese motorcycle sales in the United States is low. Although Chinese motorcycles less costly as compared to a motorcycle manufactured in Europe, and North America, as Chinese motorcycles are smaller and lighter.
Supportive government regulations in the MarketIn 2020, the Chinese Ministry of Public Security (MPS) launched a new campaign one helmet, one belt, which will come into effect from June. Under this law government has mandated scooter riders to wear helmets and for car drivers to fasten their seatbelts.
According to the China Bicycle Association, there are around 200 motorcycle manufacturers in Chinaandabout 250 million electric bikes on Chinese roads and about 38 million in Jiangsu. In May 2018 a new standard was issued to improve the regulation of e-bikes. This standard is being phased in commencing from April 2019. According to that any vehicle which has a speed limit of 25 km/h will be considered a bicycle and it is not liable to registration, licensing and does not require helmets. China's electric motorcycles market is marked by many local companies which are producing electric motorcycle and mopeds for the local market.
In addition to this, there is an increase in the interest of sports bikes in the country which has the approx cost of USD 20,000, which includes a luxury tax of almost the value of the bike. These bikes are mostly owned by people living away from the motorcycle restricted zones, mostly in small towns, because of the low stringency in-laws and regulations governing motorcycle.
With the increasing demand for bikes over 600 cc, Chinese manufacturers are also making an effort in developing and promoting these bikes. In light of all these events, the demand for superbikes is also expected to increase over the forecast period, which is, in turn, boosting the market for premium motorcycle helmets.
Competitive LandscapeThe china premium motorcycle helmet market is consolidated in which some of the prominent companies in the market are SHOEI, AGV, and Arai. Companies are collaborating with other market participants and launching new products in the market to stay ahead in the competition. For instance
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