China Premium Motorcycle Helmet Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

China Premium Motorcycle Helmet Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The China Premium Motorcycle Helmet Market was valued at USD 104.10 Million and is projected to grow to USD 176.35 Million after five years, registering a CAGR of 4.49% in revenue during the forecast period.

The COVID-19 pandemic hindered the growth of the automotive industry across China in the year 2020. Several manufacturing industries were closed. The supply chain management and distribution channels were disrupted due to a shortage of raw materials. However, the automotive industry is now recovering from the losses and paving the way to introduce quality products to cater to rising consumer demand across the country.

The rising popularity of premium motorcycles among the young generation across the country will likely increase the demand for helmets during the forecast period. The rising trend towards motorcycle leagues across the country will likely witness significant demand for helmets.

China's premium motorcycle helmet market is expected to grow steadily by 2025. Factors such as an increase in the sale of premium motorcycles in the country, and the end-users preference and awareness toward enhanced safety and comfort offered by premium helmets, are driving the market.

Since China is the most populated country in the world, where investments in public transportation may not suffice for mobility requirements, the country depends on mopeds, scooters, and motorcycles. Although the development of the motorcycle industry in the country began comparatively late (motorcycles were not widespread until the 1950s), presently, China is one of the largest motorcycle-producing countries in the world. The increasing demand from both domestic and international markets drives the increase in motorcycle production.

The sales of premium motorcycles have also been increasing in China despite stringent regulations and bans on two-wheelers for a few years. 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 into the country were premium motorcycles with engine displacements over 800cc.

Several premium motorcycle manufacturers are introducing their models across the country, which is likely to witness major growth in the market. For instance,

• In April 2022, Lifan Group launched a new cruiser, K19, in China. K19 is equipped with an NBF (Ⅱ) 150cc water-cooled engine with a maximum power of 10kW (8500 r / min). Within two months of launch, K19 witnessed 3000 sales in the country.

Chinese motorcycles are exported to other regions from Asia, such as Africa, the Middle East, South America, and even United States. However, acceptance of Chinese motorcycle sales in United States is low. Although Chinese motorcycles are less costly than those manufactured in Europe and North America, Chinese motorcycles are smaller and lighter.

According to the China Bicycle Association, there are around 200 motorcycle manufacturers in China and about 250 million electric bikes on Chinese roads, and about 38 million in Jiangsu. According to that, any vehicle with a speed limit of 25 km/h will be considered a bicycle, is not liable to registration or licensing, and does not require helmets. China's electric motorcycle market is marked by many local companies producing electric motorcycles and mopeds for the local market.

In 2020, the Chinese Ministry of Public Security (MPS) launched a new campaign, "one helmet, one belt," which will come into effect in June. Under this law government has mandated scooter riders to wear helmets and for car drivers to fasten their seatbelts.

In addition, there is an increase in interest in sports bikes in the country, which has an approximate cost of USD 20,000, which includes a luxury tax of almost the bike's value. 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 motorcycles.

With the increasing demand for bikes over 600 ccs, Chinese manufacturers are also trying to develop and promote 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.

The china premium motorcycle helmet market is consolidated in some prominent companies: SHOEI, Dainese, and Arai. Companies are collaborating with other market participants and launching new products to stay ahead of the competition. For instance,

• In March 2022, Carlyle acquired Dainese Group, a global leader in the design and manufacturing of protective equipment for motorcycling and dynamic sports. Through this acquisition, the company expanded its product portfolio across the country.

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