Motorcycle Helmets Market to Grow at a CAGR of 7.7% through 2025
Posted by Vikas Bahurupi on January 3rd, 2019
Motorcycle helmets are those that are made of either strong and lightweight material like carbon fiber or equipped with connectivity features. worldwide motorcycle helmets market to increase at a compound annual Growth rate of 7.7% during the forecast period. With increasing preference for touring and recreational activities, demand for premium motorcycles is also growing across the world, which in turn, is expected to fuel the connected motorcycle helmet market in the coming years. Some of the other key factors that would push the market includes launch of new helmet models with better features and connectivity.
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The target market for premium helmets constitutes people who have relatively high disposable income and ride motorcycles for recreational or leisure activities. As such, the developed markets, Europe,North America, and Japan are the major markets for premium helmets worldwide. Recent studies have found a direct correlation between the price of the helmet and the safety it provides.
Harley-Davidson opened its only manufacturing plant outside of North America in India and has started Rolling out locally manufactured bikes at relatively affordable prices. BMW Motorcycles has tied up with TVS Motors of India to locally manufacture and export bikes. Women, who are more safety conscious than male riders provide a new market for the motorcycle industry. Cruising has become a culture along trials like Philadelphia. These trends will change the market landscape and the premium motorcycle helmet market will boom. The Asia-Pacific region, backed by a widening consumer base, is expected to lead the growth in the market in the premium motorcycle helmet segment but the base will be very low as the current market is very small.
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The developed markets, Europe, North America, and Japan are the major markets for premium helmets worldwide. Recent studies have found a direct correlation between the price of the helmet and the safety it provides. Premium motorcycle helmets are comparatively high priced and are made of a superior-quality material, which is much more comfortable for the rider compared to the material used in basic helmets, and a few are equipped with various features such as Bluetooth and GPS.
Some major players operating in the global motorcycle connected helmet market include Schuberth GmbH, O’Neal, H&H Sports Protection, HJC Inc., AGV, SHOEI CO.,LTD., Bell Powersports, Inc., Ivolution Sports Inc., etc.
