Bike Helmet Market Forecast till 2028

Bike Helmet Market Forecast till 2028

Market Overview
The Bike Helmet Market is experiencing a surge in demand due to the increasing popularity of cycling as a means to maintain fitness and reduce obesity rates. This trend has led to a higher need for safety gear and apparel, with governments mandating the use of helmets for riders. The growing interest in sustainability issues has also contributed to an increase in global cyclists, further driving sales of cycling helmets and boosting the market's share value. Moreover, advancements in product features and safety technologies have enhanced the product's appeal to consumers.

Growing awareness of road safety is expected to fuel product demand, as more motorbike and sports bike enthusiasts seek protection against traffic-related injuries. This rising concern for safety has become a significant challenge for public authorities who aim to prevent accidents and fatalities. According to the United Nations Motorcycle Helmet Study, over 3.3 million people have lost their lives in motorcycle accidents between 2008 and 2020, with approximately 1.4 million of these lives potentially being saved by proper helmet use. This data emphasizes the critical role of helmets in preventing fatal injuries, further driving the adoption of two-wheeler helmets during the forecast period.

Segment Overview
The global market offers various types of bike helmets, such as sports helmets, MTB helmets, and road helmets. The road helmets segment dominates the global market in terms of sales, as many countries have strict regulations mandating their use for everyday travel. However, the sports helmet segment is expected to witness the highest compound annual growth rate (CAGR) in the coming years due to the rising popularity of sports activities, particularly in developed economies.

According to the report, the major applications of bike helmets are for sports/adventure and everyday travel. The everyday travel segment has accounted for the largest share in the market, as bike helmets are increasingly being used by riders on a daily basis, especially due to the increase in accidents and resulting injuries. Furthermore, strict government mandates regarding bike helmets have encouraged higher sales among on-road bikers.

Regional Analysis
Italy is poised to become the fastest-growing market in the European region as the popularity of sports activities among the youth continues to rise. In response to the increasing demand for advanced helmets, more and more manufacturers are investing heavily in R&D to offer smart and technologically advanced helmets, such as those equipped with LED lights for use at nighttime. With major companies launching innovative products and driving product innovation, the European market is expected to remain robust throughout the evaluation period.

Meanwhile, the Asia Pacific market is projected to have the highest growth rate of 5.95 percent between 2020 and 2028, thanks to the increasing sales of premium motorcycles and accessories, including helmets. Consumers in the region are increasingly opting for high-end helmets that offer better protection, comfort, and convenience, which is aided by their rising purchasing power. The market value is also boosted by growing awareness about cycling safety and government regulations mandating the use of helmets. Furthermore, the surge in road accidents in India is driving demand for helmets as people seek better safety measures.

Major Players
Key players in the market are Uvex Sports (Germany), SCOTT Sports SA. (Switzerland), Specialized Bicycle Components (US), MET-Helmets (Italy), Vista Outdoor Operations LLC (US), Orbea (Spain), KASK S.p.a. (Italy), Dorel Sports (Canada), Trek Bicycle Corporation (US), Limar Srl (Italy).

COVID 19 Impacts
The COVID-19 pandemic has had a mixed impact on the global bike helmet market. On the one hand, there has been a surge in demand for bicycles and related accessories due to an increased focus on health and fitness, as well as a preference for socially distant transportation options. This has led to an increase in the sales of bike helmets in some regions.

On the other hand, the pandemic has also caused disruptions in the supply chain and manufacturing processes, leading to a shortage of bike helmets in some areas. Additionally, the closure of sporting events and outdoor recreation facilities has reduced the demand for bike helmets, especially among professional and competitive cyclists.

Moreover, the pandemic has also impacted the purchasing power of consumers, leading to a shift towards more affordable options in the bike helmet market. As a result, mid-range and budget helmets have seen an increase in demand, while high-end, premium helmets have experienced a decline in sales.

Companies Mentioned
Uvex Sports (Germany)
SCOTT Sports SA. (Switzerland)
Specialized Bicycle Components (US)
MET-Helmets (Italy)
Vista Outdoor Operations LLC (US)
Orbea (Spain)
KASK S.p.a. (Italy)
Dorel Sports (Canada)
Trek Bicycle Corporation (US)
Limar Srl (Italy)

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.