Motorcycle Helmet Market Growth Opportunities, Key Driving Factors, Market Scenario and Forecast to 2033
The global motorcycle helmet market size is expected to surpass an impressive valuation of USD 2.70 billion in 2022. It is anticipated to reach a market valuation of USD 5.3 billion by the end of the forecast period while exhibiting a CAGR of 7.1 % from 2023 to 2033.
Demand for the product is anticipated to increase as public awareness of road safety increases. Moreover, throughout the forecast period, the adoption of two-wheeler helmets is anticipated to be fuelled by an increase in the number of motorbike and sports bike fans as well as growing worries about traffic-related injuries around the world.
For public authorities, preventing traffic accidents effectively now presents a significant challenge in terms of effort and long-term solutions. According to a research by the United Nations Vehicle Helmet Study, more than 3.3 million individuals died in motorcycle accidents between 2008 and 2020, and approximately 1.4 million of these deaths may have been avoided with the proper usage of helmets.
Market players have been helped by technological developments to introduce smart helmets to the world market. Smart helmets have advanced features to help riders ride easily and efficiently by avoiding road accidents.
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Some of the smart helmet’s features include GPS connectivity, voice assistance, tracking systems, cameras, Bluetooth, and Wi-Fi connectivity. Smartphones can be connected to smart helmets. This helps riders make, receive, and reject calls. Smart helmets can also help to reduce head injuries in traffic accidents. Hence, the launch of a multifunctional smart motorcycle helmet is expected to provide lucrative growth opportunities for the market.
Key Takeaways-
By end-user, Rider Bicycle Helmet is dominating the market in the forecast period.
Full face segment is leading the motorcycle helmet market during the forecast period.
With a CAGR of 8.1%, online segment is going to dominate the market by distribution channel.
Asia pacific held the largest market of 67.2% in motorcycle helmet market in 2022.
Europe is anticipated to register the highest CAGR of 8.4% by the end of 2033.
Asia pacific is going to dominate the market in the upcoming years owing to the highest sales of motorcycles in the region.
Competitive Landscape-
Recently, in July 2019, For cite launched its MK1 smart motorcycle helmet with a unique LED visual communication strip that provides additional features such as an HD wide-angle camera, Bluetooth port unit, Voice over Internet Protocol intercom (VOIP), and a handlebar-mounted control unit
In October 2021, HJC premium helmet manufacturer announced that the company is working with Red Bull Racing for the launch of the first-ever Red Bull licensed helmets for its consumer base. The company forefront partnership with Red Bull helped it to design a very special helmet, i.e., RPHA 1 Red Bull Austin GP helmet.
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In October 2021, Royal Enfield launched a new range of its limited-edition helmets amid the celebration of its 120th anniversary. The helmet is open face helmet that weighs around 1,280 grams approximately. Furthermore, it is launched with a face-covering bubble visor and premium leather material treated with polygiene.
In December 2021, Vega, a Belgaum-based manufacturer from India, announced its partnership with BASF for the production of lightweight, comfortable and safe motorcycle helmets. Under this partnership, Vega engages in BASF’s material innovation solution to install the best material in the helmets.
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