Motorcycle Helmet Market Size Worth USD 20.09 Billion, Globally, by 2028 at 14.2% CAGR
Fortune Business Insights
5 min read
Fortune Business Insights
The Motorcycle Helmet Market size is expected to grow from USD 7.92 Billion in 2021 to USD 20.09 Billion by 2028; it is estimated to grow at a CAGR of 14.2% from 2021 to 2028. HJC and Red Bull collaborate to develop unique helmet to gain traction.
Pune, India, Sept. 06, 2022 (GLOBE NEWSWIRE) -- The global motorcycle helmet market size was USD 7.25 billion in 2020. The market is projected to grow from USD 7.92 billion in 2021 to USD 20.09 billion in 2028 at a CAGR of 14.2% during the 2021-2028 period. This information is published by Fortune Business Insights™, in its report, titled, “Motorcycle Helmet Market, 2021-2028.”
As per our expert researchers, stringent guidelines concerning road safety executed by governments combined with augmented consciousness regarding head injury are fundamental aspects driving the motorcycle helmet market growth.
Industry Development
• October 2021: HJC Helmets launched its first Redbull certified helmet. HJC and Red Bull collaborated to create an exceptional helmet, the RPHA 1 Austin GP helmet.
Rising Number of Motorbikes and Sports Two-wheeler Enthusiasts to Fuel Market Growth
Europe was the third-largest market in 2020. In the first three quarters of 2021
Regional Insights
Asia Pacific holds the maximum motorcycle helmet market share, accounting for USD 6.15 billion. It is estimated to drive the market during the forecast period.
The rest of the world ranked as the second-largest market. The rest of the world comprises Latin America, the Middle East, and Africa. Africa is estimated to contribute substantially toward the growth of the motorcycle helmet market.
Europe was the third-largest market in 2020. In the first three quarters of 2021, motorcycle registrations in the region grew by 10.6%, tallying 792,819 units.
Rising Number of Motorbikes and Sports Two-wheeler Enthusiasts to Fuel Market Growth
In established countries, two-wheelers are mainly utilized for recreational happenings and therefore more often possessed in addition to a car. Moreover, in emerging nations, a motorcycle is often used as a basic medium of transport. Bikes are attaining a stronghold in the commercial sector as well. They are primarily utilized for food delivery and delivery of e-commerce products. Also, post lockdown, the demand for bikes has increased noticeably owing to the bike-sharing business attaining momentum. This pooled with the growing consciousness on-road protection is expected to boost the market growth during the forecast period.
Segmentation
By Product Type
Full Face
Open Face
Half Face
By Distribution Channel
Online
Offline
COVID-19 Impact
Pandemic to Cause Decline in Product Sales Backed by Stay-at-Home Guidelines
The global outbreak of the COVID-19 triggered massive ambiguity and panic in global industries. In order to monitor the spread of the COVID-19 pandemic, governments across the world have accepted lockdown interferences and severe social distancing norms. With the intensifying spread of the COVID-19 virus, people across the globe began practicing social distancing, which began movement limitations and assembly and production series to close.
Competitive Landscape
Collaborations among Companies to Safeguard Their Brand Values in Global Market
Fundamental players in the market are incessantly rooting for efficient tactics to endorse their products and establish their positions in the market. One such tactic is to present novel products by teaming up with other companies to expand their reach to end-users.
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