Various types of regulations are implemented for the use of motorcycle helmets which also helps to increase the sales of products during the forecast period.
The surge in demand for motorcycle across the globe, rising number of road accidents, and government initiatives and safety regulations for curbing road accident numbers are some of the factors driving the growth of the global motorcycle helmet market.
According to a new report published by Allied Market Research, titled, “Motorcycle helmet Market by Product Type, End User, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,” The global motorcycle helmet market size was valued at $2,444.5 million in 2020, and is projected to reach $4,294.8 million by 2030, registering a CAGR of 6.1% from 2021 to 2030. Motorcycle helmet is worn by motorcyclists to protect their heads while riding. The primary aim of a motorcycle helmet is to keep the rider’s head safe during accidents and preventing head injuries. Helmets are available in a variety of styles and comfort levels to meet the needs of customers. Enforcement of stringent government road safety laws for riders and increase in awareness of head injuries are the crucial factors that drive the growth of the global motorcycle helmet market. All these motorcycle helmet market trends propel the market growth.
According to motorcycle helmet market analysis, the market is segmented into product type, end user, distribution channel, and region. By product type, the market is categorized into full-face, modular, open-face, half-helmets, off-road, dual-sports, and others. The full-face segment was the highest revenue contributor in 2020, as full-face helmet provides complete protection to head and face against road accidents.
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On the basis of end user, the global market is bifurcated into adults and kids. The adults segment dominated the market in 2020, as motorcycle riders are mostly adults, thus boosting the sale of motorcycle helmets. Depending on distribution channel, the global market is fragmented into supermarkets & hypermarkets, specialty stores, e-commerce, and others. The specialty stores segment dominated the market with highest motorcycle helmet market share in 2020, due to benefits such as heavy discounts and immediate gratification for consumers.
Region wise, the motorcycle helmet market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific led the market in 2020, and is expected to dominate the market during the motorcycle helmet market forecast.
The global motorcycle helmet market expansion in this region is aided by population increase and rise in disposable income.
The outbreak of COVID-19 pandemic had a negative impact on the motorcycle helmet market growth. The demand for motorcycle helmets dropped, as a result of the pandemic, and travel restrictions severely damaged the motorcycle helmet market’s distribution channel, globally. The lockdown has hampered the workforce and resource availability, affecting the motorcycle helmet industry’s scale of production. Furthermore, the supply channel system for motorcycle helmet disrupted as a result of transportation constraints, thus hampering the growth of the overall market.
On the contrary, the active stakeholders in the motorcycle helmet sector are employing a number of marketing strategies such as celebrity endorsements, event planning, and social media marketing to promote the product use among customers. Furthermore, top industry players of motorcycle helmet are extensively investing in digital platforms to sell their products, resulting in market expansion. As a result, the market is expected to benefit from innovative marketing methods and rising demand for motorcycle helmets.
The motorcycle helmet safety authorities are working to update safety requirements for helmet manufacturers so that they are obligated to deliver the safest helmets to their customers and prevent head injuries.Consumers are shifting their preference to motorcycle helmets as cruising activities such as travelling by motorcycle to tourist attractions and adventure trips are becoming more popular. As a result, motorcycle helmet demand is likely to rise in the near future.
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The high cost of motorcycle helmets, on the other hand, is likely to hinder the market growth during the forecast period. Lack of understanding of how to ride & road safety and the importance of wearing a helmet act as the key market constraints. Furthermore, small consumer base, relatively high price, and the purchasing power of people affected by the global economic recession restrain the global market growth. Conversely, governments of developing and developed countries are implementing road safety programs and campaigns to create awareness among the people about wearing helmet, which is anticipated to offer remunerative motorcycle helmet market opportunities for the expansion of the global market.
The major players operating in the market are Arai Helmets, HJC Helmets, Manufacturas Tomas SA, Nolan Helmets SPA, Schuberth GMBH, Shark Helmets, Shoei Co. Ltd, Studds Accessories Ltd, Bell Helmet, and Dainese S.P.A. All these players have adopted innovative marketing strategies to expand their market reach globally.
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Key findings of the study
The global motorcycle helmet market was valued at $2,444.5 million in 2020, and is projected to reach $4,294.8 million by 2030, registering a CAGR of 6.1% from 2021 to 2030.
By product type, the full-face segment was the highest contributor to the market, with $562.8 million in 2020, and is estimated to reach $994.6 million by 2030, at a CAGR of 6.1% during the forecast period.
By end user, the adults segment was the highest contributor to the market, with $1,741.0 million in 2020, and is estimated to reach $3,005.3 million by 2030, at a CAGR of 5.9% during the forecast period.
By distribution channel, the specialty stores segment was the highest contributor to the market, with $867.7 million in 2020, and is estimated to reach $1,511.9 million by 2030, at a CAGR of 6.0% during the forecast period.
By region, Asia-Pacific was the highest revenue contributor, accounting for $858.5 million in 2020, and is estimated to reach $1,474.8 million by 2030, with a CAGR of 5.8%.
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