Motorcycle Helmet Market Size Worth Usd 20
The global motorcycle helmet market size is expected to reach USD 20 billion by 2027, growing at a CAGR of 8.5% during the forecast period. The market growth can be attributed to the rising demand for motorcycles and the increasing awareness regarding road safety. Additionally, the increasing number of road accidents has led to the adoption of motorcycle helmets as a mandatory safety measure.
Market Segmentation
The motorcycle helmet market can be segmented based on product type, distribution channel, and region. Based on product type, the market can be classified into full-face helmets, open-face helmets, flip-up helmets, and half helmets. Full-face helmets are expected to dominate the market during the forecast period due to their high level of protection and comfort.
Based on distribution channel, the market can be segmented into online and offline channels. The online segment is expected to witness significant growth during the forecast period due to the increasing popularity of e-commerce platforms.
Geographically, the motorcycle helmet market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is expected to dominate the market during the forecast period due to the increasing number of motorcycle users in countries such as India and China.
Key Players in the Market
The key players operating in the motorcycle helmet market include Bell Helmets, HJC Helmets, Schuberth GmbH, Shoei Co. Ltd., Nolan Communication System Srl, AGV Sports Group Inc., and Shark Helmets. These players are focusing on product innovation and development to cater to the changing consumer demands.
For instance, in March 2021, HJC Helmets launched the new RPHA 11 Pro helmet featuring a new aerodynamic shell design and a multi-point ventilation system. Similarly, in September 2020, Bell Helmets launched the new Eliminator helmet featuring a retro design and a lightweight carbon composite shell.
Impact of COVID-19
The COVID-19 pandemic has had a significant impact on the global economy, including the motorcycle helmet market. The lockdowns and travel restrictions imposed by governments have led to a decline in motorcycle sales, which has affected the demand for motorcycle helmets. However, the market is expected to recover in the post-pandemic period as the demand for motorcycles is expected to increase once the restrictions are lifted.
Conclusion
The motorcycle helmet market is expected to witness significant growth during the forecast period due to the increasing demand for motorcycles and the growing awareness regarding road safety. The market is highly competitive, with key players focusing on product innovation and development to cater to the changing consumer demands. While the COVID-19 pandemic has had a negative impact on the market, the market is expected to recover in the post-pandemic period.