ID: MRFR/CR/6728-CR | August 2019 | Region: Global | 139 pages
The Cycling Helmet Market is currently experiencing healthy growth of 5.35% CAGR. This market is expected to be worth 1,118.7 US Dollars by 2024. Cycling Helmets have many uses and this is what makes them so popular. For example, these helmets can make cyclists more visible to motorists. They can also protect cyclists against the potentially deadly impacts of bicycle crashes and collisions.
Cycle Helmets are a unique piece of protective equipment because they are specifically engineered to fit the human head. Therefore, one size really does fit all in terms of Cycle Helmets.
COVID-19 changed the nature and perhaps the destiny of the Bike Helmet Market by introducing new and stricter rules and regulations. Cycling helmet owners now must wash their helmets in a special way and according to certain unique (and new) guidelines.
Cycling Helmet owners are required to wash their helmets off with soap and water after every use. This will help kill any coronavirus germs which are on the surface and help stop the spread of this dangerous virus. Owners can also clean their helmets off with water and bleach solutions. It will kill the virus without damaging the helmet. Owners should take special care not to get any of the solutions in their mouths, on their bodies, or in their eyes. Doing so can cause serious and (potentially) irreversible bodily damage.
Governments around the world are getting stricter in terms of requiring people to wear helmets while cycling. This has been a key driver of growth in the Bike Helmet Market. Increasing purchasing power among the global middle classes has also been an important factor as has the number of new bike accidents in recent years.
Obesity is a growing problem in a global society. Many in the middle classes see cycling as an effective way to counter obesity. They want and need Cycling Helmets.
Cycling Helmets are becoming safer, cooler to wear, and smarter. All these factors lead to more protection for people who cycle regularly. The dramatic increase in the number of women riders has given bike helmet manufacturers a real incentive to ‘feminize’ Bike Helmets in the attempt to enter this lucrative market.
Many more people are riding in professional races. This creates a real incentive for cycling helmet manufacturers to create helmets that use new and innovative technologies.
Cycling Helmets are expensive, and this is what has been keeping many would-be customers from making purchases. Another key restraint is ignorance among the public about the importance of cycling helmets for general biking safety.
One main challenge that the Bike Helmet Market faces is in engineering and design. Many bike helmets are made from thin plastic. They can therefore break and shatter when subjected to force. This can cause injuries for helmet wearers. Bike helmet manufacturers are responding by incorporating technologies into helmets that will make them safer.
Cumulative Growth Analysis:
The CAGR for the entire Bike Helmet Market is high. The market alone is expected to be worth 415.5 million US Dollars by December of 2024. A large driver for this growth has been the increasing popularity of biking. Many people in developed nations like the United States, the United Kingdom, and The Netherlands are cycling - they view it as a good form of exercise.
New technological advancements and innovations in terms of manufacturing helmets have made the next generation of cycling helmets safer and, hence, much more popular. One such advancement is the bike helmet that uses Wavicle. This is the brainchild of the bicycle helmet manufacturer Trek. it uses a gel insert that is in a honeycomb pattern. This insert absorbs excess energy that is generated during bike crashes. This has prevented many people from sustaining potentially fatal concussions.
Many people (especially in developing nations) prefer to use bikes because it is cheaper and more convenient than driving a car is. Bike riding is also much friendlier for the environment. This is driving demand for Bike Helmets. It is also driving growth in the Bike Helmet Market.
The new generation of Bike Helmets uses multi-direction impact protection technology (MIPS). This is a layer of protection on the inside of the helmet that does what the human skin naturally does. It redirects the force of impacts to ensure that the rider does not sustain any serious head or brain injuries.
There are Many Different Types of Cycling Helmets:
Every type of Bike Helmet has been experiencing a healthy CAGR and this is expected to continue until at least the end of 2024.
Bike Helmet Market Analysis by region reveals some interesting information. The Bike Helmet Market Size is greatest in the European Union. This region alone accounted for 36.35% of the total Bike Helmet Market share in 2018. Of the nations in this region, growth and demand are expected to be strongest in Italy. The CAGR there is projected to be 7.46% until at least the end of 2024.
The Asia- Pacific market shows the strongest growth with a high CAGR of 5.95% until at least the end of 2024. The main factors that are driving this growth are stricter government-imposed biking laws and growing awareness about the need for biking safety.
The North American region will experience decent CAGR until the end of 2024. The North American region has the highest market share of all regions in the world.
Lower barriers to entry translate into a highly competitive market. The Bike Helmet Market already has many key players. Many more companies are entering. They are attracted by the huge revenue potential and high general CAGR.
A major company in the Bike Helmet Market is Vista Outdoor Operations LLC (USA.) It is keeping its superior industry position by investing heavily in research and development and new technological innovations.
The major companies in the Bike Helmet Market are:
The Bike Helmet Market is experiencing a healthy CAGR which is expected to be strong until at least the end of 2024. Many factors are driving growth, some of these are increased purchasing power, safer helmets, and an increasing desire for obese people to stay healthy.
Frequently Asked Questions (FAQ) :
Cycling helmet market is projected to grow at a 5.35% CAGR between 2019- 2024.
Europe is expected to dominate the cycling helmet market.
Cycling helmet market is predicted to touch USD 1,118.7 million by 2024.
Growing trend of cycling and rising cases of road accidents are the key factors driving the cycling helmet market.
Eminent players profiled in the cycling helmet market include LAS helmets (Italy), Urge Bike Products (France), POC Sweden AB (Sweden), Amer Sports (Finland), Giant Manufacturing Co., Ltd (China), Merida & Centurion Germany GmbH (Germany), KASK S.p.a. (Italy), SCOTT Sports SA. (Switzerland), Orbea (Spain), Limar Srl (Italy), MET-Helmets (Italy), Trek Bicycle Corporation (US), Uvex Sports (Germany), Dorel Sports (Canada), Specialized Bicycle Components (US), Vista Outdoor Operations LLC (US), and Polisport Plásticos SA (Portugal).