Motorcycle Helmets Market to Reach US$ 3,516.5 Mn by 2027
Posted: Jun 16, 2019
According to a new market report published by Transparency Market Research titled "Motorcycle Helmets Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027,"the global motorcycle helmets market is expected to reach a value of US$ 3,516.5 Mn by 2027. In terms of value, the market is estimated to expand at a CAGR of 5.0% during the forecast period from 2019 to 2027. In terms of volume, the market stood at around 17,997.0 thousand units in 2017. The Asia Pacific motorcycle helmets market is expected to witness the highest growth during the forecast period both in terms of value (US$ Mn) and volume (Units). The market witnessed considerable growth in the Asia Pacific region because of increasing demand for motorcycles in India, Japan, and China.
The motorcycle helmets market is influenced by market dynamics with driving factors such as increase in sale of two wheelers across the world and enforcement of traffic laws & road safety regulations. In terms of product, the full face helmet segment is anticipated to gain the largest share with total value of US$ 1,996.6 Mn by 2027 at a CAGR of 5.3% annually. However, lack of awareness about road safety in emerging economies and increase in usage of helmets manufactured by the unorganized sector are the major challenges restraining the growth of the market. Nevertheless, the market is anticipated to grow due to factors such as increasing demand for luxury motorbikes across the globe and rising popularity of motorcycle racing events & championships.
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In 2017, based on product, the full face helmet segment accounted for market value of about US$ 1,231.9 Mn in the global motorcycle helmets market. Full face helmets are the most widely used by consumers across the world as full face helmets offer greater protection. By price points, the medium price (US $50 – US $200) segment accounted for a relatively large market share in terms of value, as traffic laws and motorcycle helmet laws are not very strict in developing countries. Individuals are not ready to spend heavy amounts on purchasing expensive helmets. The medium price (US $50 – US $200) segment is anticipated to reach US$ 1,330.8 Mn at a CAGR of 4.8% by 2027. In terms of application, the on-road segment is anticipated to reach US$ 3,309.0 Mn at a CAGR of 5.1% by 2027. On the basis of application, the on-road segment is expected to dominate the market in the near future.
Some of the key players profiled in the global motorcycle helmets market are ARAI Helmets, Bell Helmet, Dainese S.p.A (AGV), Manufacturas Tomas SA, HJC Helmets, Nolan Helmets SpA, Schuberth GmbH, Shark Helmets, Shoei Co. Ltd., and Studds Accessories Ltd.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia