The helmet industry analysis has revealed that the demand in branded personal protective equipment is growing for riders of luxury motorcycles. Rise in motorcycle road racing events such as MotoGP has broadened the revenue prospects for firms in the industry. The size of the motorcycle helmets market was pegged at US$ 2.4 Bn in 2021.
Sellers of best motorcycle helmets are offering modular helmets and expanding the range of custom motorcycle helmets to gain stable revenue streams during the forecast period. Top manufacturers are geared toward making their products comply with the latest national and international regulations on road safety. Of note, the demand for full face motorcycle helmets and lightweight helmets will unlock some promising avenues in that manufacturers are capitalizing on use of lightweight materials.
Rise in road traffic accidents and the subsequent economic burden of fatal injuries especially in developing countries underpin a vast avenue for the growth of the motorcycle helmets market. In part, this has been due to rise in reckless driving and driving under the influence of alcohol. Motorcycle riders in those regions thus are emerging as a lucrative target market for helmets.
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Key Findings of Motorcycle Helmets Market Study
- Growing Ownership of Luxury Motorcycles Especially in Racing Events Underpins Value-grab Opportunities: Rise in number of racing events worldwide has led to the adoption of branded helmets, thereby creating incredible avenues in motorcycle helmets market. Additionally, people in developing countries are demanding luxury motorcycles. The trend has bolstered the demand for high-end motorcycle helmets.
- Implementation of Road Safety Regulations Propelling Lucrative Demand: Over the past few decades, the awareness of the positive role that helmets have on reducing the mortality rates from road traffic accidents has been growing. This has spurred the adoption rate of products in the motorcycle helmets market. Further, governments have stepped up initiatives to enforce traffic safety regulations, which has boosted the market. Both full and open face helmets are growing adoption. However, the demand for the former type is more prominent in developed countries.
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Key Drivers
- Stringent implementation of road safety regulations in various countries, wherein wearing helmets is mandatory, is a key driver of the motorcycle helmets market. Coupled with these initiatives, growing awareness among motorcycle riders of how personal protective equipment reduces risks of fatal traffic injuries in road accidents is propelling demand.
- Rise in number of motorcycle racing events, engendered by growing sponsorships for these in emerging economies, will drive the expansion of the motorcycle helmets market
Regional Growth Dynamics
- Asia Pacific held a major share of the motorcycle helmets market in 2021. A bulk of demand has emanated from open face helmets. Indeed, the segment held a major share of the regional market. Rise in ownership of luxury vehicle is fueling profitable opportunities for market players in the region. Demand for modular helmets will create lucrative prospects in the next few years.
- Europe held a key share of the global motorcycle helmets market in 2021, in terms of both value and volume. Strict implementation of traffic rules and regulations in Europe is one of the key underpinnings.
Competition Landscape
The TMR study found that the motorcycle helmets market landscape is characterized by high degree of fragmentation, as the majority of stakes are controlled by relatively few vendors.
Some of the key players in the market are Shoei Co. Ltd., Shark Helmets, Schuberth GmbH, Nolan Helmets SpA, HJC Helmets, Manufacturas Tomas SA, Dainese S.p.A (AGV), Bell Helmet, and ARAI Helmets.
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