Bike Helmet Market Size, Share, Growth and Industry Analysis by Type (MTB Helmets, Road Helmets, and, Sport Helmets) By Application (Commuter & Recreation, and, Sport Games), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Bike Helmet Market Report Overview

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The global bike helmet market size is was USD 735.1 million in 2022 and is projected to touch USD 933.73 million by 2031 with a CAGR of 2.4% during the forecast period.

Bike helmet is an equipment that is usually worn to protect our head from accidents that can take place. Wearing a helmet can be of great importance, as certain accidents can be fatal and wearing a helmet can protect us from such disasters. It is designed in such a way that it attenuates impact to the head of cyclist. It minimizes the side effects.

Many different discoveries have come up in this field. These developments have created many prospects for growth. Many remarkable trends are being seen in the market. The availability of helmets according to the need of the users can be an important factor helping the market growth. This is considered as the latest trend in the market.  

A few factors have helped in the development of the market whereas a few factors can hamper the market growth. Head injuries can be fatal to life and helmet serves the function of protecting the head of the rider. Apart from being a safety device a bike helmet can also become a style factor.  These factors have favored the global bike helmet market growth.

COVID-19 impact: Sudden Decline in The Transportation of People from One Place to another Decreased the Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The pandemic of COVID-19 had an adverse effect on all the economies across the world. All the markets saw less demand and this in turn led to the downfall of the industry. The main reason all the industries were affected was because of the lockdowns, and strict social distancing norms that were imposed. Because of this the industries were unable to operate their markets.

The disruption in the transportation of people from one place to another was the major factor that affected the growth of the market. As there was a considerable decrease in the number of people travelling on bikes and scooters the sale of helmets also reduced leaving a negative impact on the global bike helmet market. But once the pandemic was over there was a steady increase in the market share.

LATEST TRENDS

"Availability of Different Types of Bike Helmets for Different Occasions to Increase the Market Growth"

The requirement of helmets differs from people to people. It also depends upon the type of bikes they are used with. Some helmets are designed for normal day-to-day use whereas a few helmets are designed for racers. The availability of helmets according to the need of the users can be an important factor helping the market growth.

Different types of helmets are available. This includes full face helmet, open face or half face helmets, modular helmets, half shell helmets, off road helmets, and dual sport helmets. This has been considered as the latest trend in the market.

Bike Helmet Market Segmentation

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• By Type:

The market can be divided on the basis of type into the following segments:

MTB  Helmets,  Road Helmets, and, Sport Helmets. The MTB helmets segment are anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment:

Commuter & Recreation, and, Sport Games. The consumer and recreation segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Reduction in The Chances of Head Injuries to Fasten the Market Growth"

Accidents are some of the most common scenarios that we encounter on a daily basis, especially in crowded places like cities. It might not be possible to avoid or prevent accidents but it is definitely possible to protect oneself from the harm inflicted through these accidents.

Riding a two-wheeler like a bike is very risky. Accidents could be caused because of the bad condition of the roads or due to the carelessness of the rider. When a person meets with an accident, he or she is at a higher risk of getting head injuries. Head injuries can be fatal to life and helmet serves the function of protecting the head of the rider. All of these factors have collectively led to the increase in global bike helmet market share.

"Addition to the Style Quotient of The Rider to Propel the Market Growth "

Helmets are very often viewed as safety devices that are designed to protect a rider from accidents. It can save a person from head injuries, eye infections, and even cold breezes while riding. Penalty can be imposed if incase helmets are not worn while riding bikes and two-wheelers.

Apart from being a safety device a bike helmet can also become a style factor. Helmets can increase the style quotients of the riders. Stylish helmets with new features, and remarkable designs are being introduced in the market.  All of these factors are prone to bring vast growth opportunities for the market in the upcoming years.

RESTRAINING FACTOR

"Uncertain protection provided by helmets to Bring Down the Market Growth"

Helmets can protect the rider from any kind of injuries only in certain circumstances. When the accidents are huge helmets are of no real use. Wearing helmets will not provide complete certainty of protecting the life of its user. This factor can hamper the growth of the market. 

A lot of studies have shown that wearing a helmet does not actually provide protection against life-threatening injuries. Apart from this many users experience discomfort from constantly wearing helmets while riding. This can act as a major factor restraining the market growth.

Bike Helmet Market Regional Insights

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"North America to Dominate the Market in The Upcoming Years"

North America is the region that is predicted to dominate the market during the forecast period. This region holds the largest market share. North America accounts for more than one-fourth of the market share. Many factors have contributed to the growth of the market in the region. The growing number of people using bikes in this region has driven the market growth. Also, the strict rules imposed by the government regarding the safety of riders has given a spike to the sales of helmets in this region.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Vista Outdoor (U.S.)
• Dorel (Canada)
• Specialized (U.S.)
• Trek Bicycle (U.S.)
• Merida (Taiwan)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations