Stringent Road Safety Regulations to Create Opportunities for the Bicycle Helmet Market
- Bicycle helmet is an important accessory that prevents head injury in case of accidents among bicyclers and are compulsory in most cycling events. Bicycle helmets sit securely over the head and can be secured with a strap under the chin.
- With latest technology, bicycle helmets nowadays are lightweight, with improved aerodynamics, and offer better ventilation. Stringent road safety regulations and strict government rules around the world is expected to drive the bicycle helmet market during the forecast period.
Key Drivers and Restraints of the Global Bicycle Helmet Market
- Cycling has become a popular activity and is pursued for recreational purpose or as a sport. Bicycle helmets serve more than one purpose; apart from head protection, it improves visibility, offers protection from bad weather, and can accommodate communication devices.
- Bicycle helmets come in various designs and colors to cater to everyone’s need. The material used in most of these helmets is EPS foam in the inside with a hard outer shell. The EPS foam contracts on impact and protects the head.
- Recent research and development in bicycle helmets have proved that helmets help to avoid rotational force experienced during a crash. This minimizes the risk of head injury. Technologies such as WaveCel, SPIN, and MIPS help in reducing rotational force during a crash.
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- Bicycles are cheap and an eco-friendly mode of transportation. Cycling is a good form of exercise to stay fit. Many people prefer cycling while commuting. Rise in health awareness plays a vital role in driving the market. The inclination of millennial toward fitness and outdoor cycling activities is expected to boost the bicycle helmet market.
- Increasing environmental concerns has led to growth in number of cyclists around the world. Increase in disposable income, increase in purchasing power, increasing bicycle riding events, and rising bicycle sales are factors likely to lead to a rise in sale of bicycle helmets during the forecast period.
- The recreational segment is projected to witness higher growth during the forecast period. Thus, growth in adventure sports activities is likely to fuel the bicycle helmet market. Europe is expected to dominate the bicycle helmet market. Manufacturing companies are investing in R&D to come up with new products such as smart helmets. The latest innovation in helmets consists of LED on helmets which helps at night.
- Lack of awareness about cycling and importance of usage of helmets is a restraint of the market. The market is highly fragmented, and bicycle helmets available at cheaper price offered by regional players might hamper the business of big players.
- Manufacturers are trying to attract consumers by manufacturing helmets with unique features, shapes, and colors, and are competing on the basis of price in this highly fragmented market.
- Increasing concerns due to rising road accidents and stringent government laws are expected to drive the global bicycle helmet market during the forecast period.
Europe to dominate the global bicycle helmet market
- In terms of region, the global bicycle helmet market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is likely to witness the maximum demand for bicycle helmets from 2019 to 2027. Europe and the U.S. dominate the market and are expected to continue their dominance. Major manufacturers are investing heavily in developing economies. Leading manufacturers of bicycle helmets have extensive distribution networks along with deep product penetration.
Key Manufacturers Operating in the Market
The global bicycle helmet market was highly fragmented in 2018. Key manufacturers operating in the global market are listed below:
- Moon Helmet
- Vista Outdoor
- Trek Bicycle Corporation
- ABUS AUGUST BREMICKER SÖHNE KG
- SCOTT Sports SA
- POC Sports
- Specialized Bicycle Components, Inc.,
- GIRO SPORT DESIGN
- KASK s.p.a
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