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
List of Key Players in Motorcycle Helmet Market
Access Press Release of Motorcycle Helmet Market @ https://www.grandviewresearch.com/press-release/global-motorcycle-helmets-market
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About the AuthorNeha Bora
Joined: September 16th, 2019
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