The global motorcycle helmet market size is projected to touch USD 5.10 billion by the year 2025, according to a new report by Million Insights. It is anticipated to grow at a CAGR of 6.9% through the forecast period of 2019-2025. Increasing awareness regarding safety while driving to avoid road accidents is expected to propel the growth of the market. Additionally, stringent rules regarding wearing helmets by the riders as well as their pillions is expected to further drive the demand of the product.
Full face helmets in the product category is anticipated to grow at the fastest CAGR of 7% over the forecast period. Key manufacturers like Caberg S.p.a., Arai Helmet Ltd, HJC Europe S.A.R.L, Dainese SpA, Shoei Co. Ltd, Schuberth GmbH, and FOX are constantly introducing new products to capture a large consumer base. For example, Shoei Co. Ltd., a Japanese helmet manufacturer, had announced in February 2019 to introduce a Head-up Display (HUD) equipped motorbike helmet by 2020. This special feature would help riders in navigation by displaying directions, distance, lanes, weather and traffic in the HUD, as more information would tend to distract the rider from driving.
Asia Pacific is anticipated to grow at the fastest CAGR of 7.2% over the forecast period due to large number of two-wheeler owners present in countries like India, Indonesia, Malaysia and China. Moreover, over the last few years key manufacturers are adopting marketing strategies like launching innovative products, focusing on e-commerce, exclusive stores and celebrity endorsements to meet the increasing demand for technologically advanced products. For example, Steelbird Helmets introducedSBA-1 HF helmet in January 2019, which has an in-built hands-free Bluetooth connectivity for allowing riders to answer calls and listen to music while they are driving.
Key manufacturers functioning in the motorcycle helmets market include BELL HELMET, Royal Enfield, Alpinestars S.p.A, STUDDS, Caberg S.p.a.,Arai Helmet Ltd, HJC Europe S.A.R.L, Dainese SpA, Shoei Co. Ltd,Schuberth GmbH, and FOX. These companies continuously launch new products that attributes for their success in this industry.
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Further key findings from the report suggest:
• North America accounted for over USD 500 million in the total revenue generated in 2018
• Full face helmets is anticipated to dominate the motorcycle helmet market with over 70% of share in the total global revenue by 2025
• Online distribution channel is anticipated to grow at the fastest CAGR of 7.4% over the forecast period
Million Insights has segmented the global motorcycle helmets market on the basis of product, distribution channel, and region:
Motorcycle Helmets Product Outlook (Revenue, USD Million, 2015 - 2025)
• Full Face
• Half Face
• Open Face
Motorcycle Helmets Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Motorcycle Helmets Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa