The global market for Premium Motorcycle Helmets is projected to reach US$387 million by 2024
Safety Concerns and Revival of Growth in
Developed Markets Drive the Global Motorcycle Helmets Market, According to a New
Report by Global Industry Analysts, Inc.
GIA launches
comprehensive analysis of industry segments, trends, growth drivers, market
size, share and demand forecasts on the global Motorcycle Helmets market. The global market for Premium
Motorcycle Helmets is projected to reach US$387 million by 2024, driven by the growing stringency of safety
regulations and revival of sales of motorcycles in developed countries.
Motorcycles fulfill
a strong need for convenience, speed, and economy in personal mobility. The
past two decades have seen a complete transformation of the motorcycles
industry worldwide with demand often beating the market’s expectations. The
cultural divide between regional markets has a significant impact on the demand
for motorcycles. Often viewed as a mode of recreation in the developed world,
motorcycles symbolize a different outlook in developing markets where people
look up to them as the primary means of affordable transportation. Either as a
recreation or as the primary means of transportation, motorcycling continues to
record growth across the globe. The continuous rise in motorcycle ownership
across the globe has and will continue to drive demand for motorcycle helmets
worldwide. As a protective gear that is worn over the head to offer protection
against any injuries during an accident or a fall, helmets are regarded as
basic safety investment for motorcyclists. While helmet surely helps in
protecting one’s life and reducing the severity of head injuries, the need for
wearing one while driving motorcycles now goes beyond personal safety reasons.
While most of the motorcyclists do purchase helmet as a proactive measure to
ensure personal safety, many of them are now compelled to do so due to
stringent government regulations governing road safety.
More than 90% of
the two wheeler market is concentrated in emerging markets of Asia-Pacific,
Latin America, and the Middle East. In developed markets in North America and
Europe motorcycles are discretionary purchases for pleasure driving. Improving
economic conditions have revived growth in these markets, resulting in positive
vibes for the Premium Helmets market. On the other hand, two wheelers
represent the primary vehicle for commuting in developing markets in Asia and
Latin America. These vehicles are primarily small displacement motorcycles,
scooters, and mopeds, compared to developed to western markets where
motorcycles with high displacement represent the major market. As such, Asian
and Latin American markets, and to an extent markets in the Middle East &
Africa dominate the two wheeler market and are expected to witness continued
growth in future.
Over the years,
global market for premium motorcycle helmets market has witnessed rapid
advances in terms of design and technology. For instance, newer materials have
been introduced for manufacturing premium helmets that have the ability to
offer enhanced safety and comfort to the wearer. Carbon fiber is increasingly
being used in the manufacture of these helmets, which not only adds strength to
the helmets but also makes them lighter. Various technologies such as wireless
helmets, Head-up display technology, helmet-mounted display technology,
Bluetooth connectivity, and helmets with in-built headphones have been able to
differentiate premium helmets.
As stated by the
new market research report on Motorcycle Helmets, Europe represents the largest market worldwide.
Asia-Pacific is forecast to emerge as the
fastest growing market with a CAGR of 7% over the analysis period led by
steady economic development, expanding base of affluent middle class
population, improving spending power, and growing appetite for premium motorcycles
in countries such as China and India.
Key players in the market
include Arai Helmet Ltd., Chih Tong Helmet Co., Ltd., HJC America, Inc., LAZER
SA, Nolangroup SpA, NZI Helmets SA, SHOEI Co., Ltd., and Vega Helmet
Corporation among others.
The
research report titled "Motorcycle Helmets: A Global Strategic Business Report" announced by Global
Industry Analysts Inc., provides a comprehensive review of market trends,
growth drivers, innovations and launches, and strategic industry activities of
major companies worldwide. The report provides market estimates and projections
in US dollars for all major geographic markets including the US, Canada, Japan,
Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe),
Asia-Pacific, and Rest of World.
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