Motorcycle Helmet Market Is Estimated To Exhibit At USD 3.88 Billion By 2030

Posted by Neha Bora on January 6th, 2023

San Francisco, 6 Jan 2023: The Report Motorcycle Helmet Market Size, Share & Trends Analysis Report By Product (Full Face, Open Face, Off-Road/Racing), By End User (Rider, Passenger), By Distribution Channel (Offline, Online), By Region, And Segment Forecasts, 2022 - 2030

The global motorcycle helmet market is expected to reach USD 3.88 billion by 2030, registering a CAGR of 6.6% from 2022 to 2030 period, according to a new report by Grand View Research, Inc. The helmet provides protection from the weather and increases the comfort of the motorcycle rider by decreasing the sound of the wind. This factor increases demand for motorcycle helmets which drives the growth of the market.

Lack of awareness regarding road safety is the key factor that hampers the growth of the market. Governments are taking initiatives and applying strict regulations to reduce the number of road accidents. Thus, it creates ample opportunity for the key players operating in the market during the forecast period.

COVID-19 has had a negative impact on the motorcycle helmet market. Due to the implementation of lockdown and travel restrictions from governments in various countries, people during the lockdown were forced to stay at home. This resulted in a drastic decline in sales of motorcycle helmets. Additionally, customers’ buying power is hampered due to the world economic slowdown. COVID-19 has resulted in a decrease in sales of motorcycles, globally, which caused a decline in motorcycle helmet sales in 2020.

The full-face segment accounted for the largest market share of around 60.0% of the global market in 2021. This type of helmet covers the entire face and head as compared to half and open-face helmets, which increases rider safety. Several countries such as the U.S and Canada have implemented stringent road safety rules and regulations, thus propelling demand for full-face helmets. In recent years, several new features such as Bluetooth technology and high-end visibility have been popular in full-face helmets. Therefore, the full-face segment generated significant revenue in 2021.

Asia Pacific acquired the largest revenue share in the motorcycle helmet market in 2021. India and China, the world’s largest markets for motorcycles dominated the global market for motorcycle helmets and generated maximum revenue in 2021. Major players operating in the region are concentrating on growing the production of modular helmets as well as custom motorcycle helmets as per national and international standards. Government guidelines on safety standards and vehicle driving safety keep a strong demand for the sales of motorcycle helmets in Asia-pacific.

The companies operating in the global market for motorcycle helmets are launching new products that focus on ease of usage. Development of the product portfolios as well as mergers & acquisitions are the strategies implemented by the key players. In April 2022, HJC Helmets partnered with the 2021 F1 Drivers’ Championship Winning Team to promote its products and grab a larger number of customers.

Access Research Report of Motorcycle Helmet Market @ https://www.grandviewresearch.com/industry-analysis/motorcycle-helmet-market

Motorcycle Helmet Market Report Highlights

• Europe is expected to grow at the highest CAGR during the forecast period. This is attributed to the rapidly increasing number of electric motorcycles in this region. Apart from that, adopting maximum safety measures and spending largely on motorcycle protective equipment such as helmets is expected to increase the market at the fastest CAGR throughout the forecast period
• The open-face segment is likely to grow at the highest CAGR during the forecast period. The overall weight of the open-face helmet is less than the full-face helmet owing to the absence of a chin bar. Moreover, open-face helmets are cost-effective as compared to the full face helmets
• The passenger segment is anticipated to expand at the top CAGR during the forecast period. To ensure high safety for the riders of two-wheelers, most of the government has made it compulsory for the passenger riders to wear helmets along with riders, thus segment is expected to grow at the fastest CAGR during the forecast period
• The online segment is likely to expand by the highest CAGR during the forecast period. This is attributed to the flexible payment options such as online payment from debit and credit cards to Google Pay and Phone Pay are available. Additionally, bikers get access to a large range of helmets with online surfing.

List of Key Players in Motorcycle Helmet Market

• DaineseSpA
• HJC Europe S.A.R.L
• Shoei Co. Ltd
• Arai Helmet Ltd.
• Alpine stars S.p.A
• Schuberth GmbH
• BELL HELMET
• FOX
• STUDDS Accessories Limited
• Royal Enfield
• p.a.

Access Press Release of Motorcycle Helmet Market @ https://www.grandviewresearch.com/press-release/global-motorcycle-helmets-market