The global motorcycle helmet market size is expected to reach USD 5.10 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 6.9% over the forecast period. Rising road safety awareness to prevent road traffic accidents is anticipated to drive the growth. In addition, stern policies and regarding adoption of helmets for riders as well as pillions is anticipated to further fuel the product demand.
In terms of product, full face helmets is expected register the fastest CAGR of 7.0% from 2019 to 2025. Major manufacturers including Dainese SpA, HJC Europe S.A.R.L, Shoei Co. Ltd, Arai Helmet Ltd, Schuberth GmbH, FOX, and Caberg S.p.a. are introducing new products to attract more customers. For instance, in February 2019, Shoei Co. Ltd, a Japan based leading helmet manufacturer, announced to commercially launch a Head-up Display (HUD) equipped motorbike helmet by 2020. This HUD will help riders with navigation by displaying distance, directions, lanes, traffic, and weather in the HUD, keeping in mind that more information in HUD will distract the rider from driving.
Asia Pacific is expected to expand at the fastest CAGR of 7.2% from 2019 to 2025 owing to the presence of a large number of two-wheeler owners in China, India, Indonesia, and Malaysia. Furthermore, over the past few years, major players are adopting marketing strategies such as innovative product launches, exclusive stores, celebrity endorsement, and focus on e-commerce to cater to the rising demand for technological advanced products. For instance, in January 2019, Steelbird Helmets launched SBA-1 HF helmet that comes with in-built hands-free Bluetooth connectivity which allows riders to listen to music and answer incoming calls.
Key players operating in the motorcycle helmets market include Dainese SpA, HJC Europe S.A.R.L, Shoei Co. Ltd, Arai Helmet Ltd, Alpinestars S.p.A, STUDDS Accessories Limited, Schuberth GmbH, BELL HELMET, FOX, Royal Enfield, and Caberg S.p.a. Product innovation is expected to remain a critical success factor over the next few years.
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Further key findings from the report suggest:
- North America generated a revenue of more than USD 500 million in 2018
- Full face helmets is expected to exceed 70% of the global revenue share of the motorcycle helmets market by the end of 2025
- Online distribution channel segment is expected to witness the fastest CAGR of 7.4% from 2019 to 2025