Bike Helmets Market size was valued at USD 8,317.2 million in 2023 and is poised to grow at a significant CAGR of 9.7% over 2023-2029. Road accidents caused by heavy traffic or road congestion are a major source of concern for government officials, who are working to develop an effective solution to prevent accidents. As a result, wearing a riding helmet has been mandatory. Smart helmets include GPS connectivity, tracking systems, cameras, voice assistance, Bluetooth connectivity, Wi-Fi connectivity, and emergency buttons, among other features offered by helmet manufacturers. Smartphones can communicate with smart helmets. This aids the rider in making, accepting, and rejecting calls. Smart helmets will also help to decrease head injuries caused by car accidents. As a result, the introduction of multi-functional smart motorcycle helmets would present the industry with significant growth potential. The elimination of public transportation to avoid corona disease, the reopening of businesses, and increased demand from metropolitan regions are likely to drive bike sales in the coming years, boosting consumer demand for motorcycle helmets. Also, motorcycle helmet safety regulators are working to update helmet manufacturer safety requirements so that the companies are obligated to deliver the safest helmets to their consumers and avoid any head injuries. The market's growth has been extremely beneficial over the last three years. Regional government measures have primarily raised safety requirements, which has benefited the helmet industry. For instance, The Indian government has stated that a higher and safer safety standard for helmets is required and that another standard for helmets may be developed shortly. The new helmet standard is supposed to cater to superior quality headgear designed for high-speed riding. Furthermore, the expanding trend of bike racing and superbikes, as well as the growing number of bike commuters, are all contributing to market expansion. Racing events, as well as other biker groups and communities, provide a platform for bikers to show off their riding talents and represent the fraternity by emphasizing ethical riding and road safety. This helps to raise knowledge about the significance of wearing a helmet, resulting in a more optimistic market perspective.
In 2020, Arai Helmet Ltd introduced its Quantic collection for 2021, which is comfortable for high-speed and long rides. It features a one-piece rear exhaust with spoiler function and also speaker pockets. Arai helmet Ltd announced the plan to get the ECE R22-06 approval. In December 2021, Vega, a Belgaum-based manufacturer from India, announced its partnership with BASF to produce lightweight, comfortable, and safe motorcycle helmets. Vega partnered with BASF on a material innovation solution to ensure the best material is used in the helmets.
Fastest Growing Market
The market's expansion is being fueled by a growing automobile sector and rising consumer demand for high-quality safety equipment, such as increased customer awareness of improved comfort and safety, increased popularity of owning a sports bike, and bespoke aftermarket modifications among millennials, all of which boosted sales of premium helmets. Consumers are moving their choice to premium quality helmets as cruise activities such as riding motorbikes to tourist attractions and adventure rides become more popular, as these provide greater safety and reduce the danger of head injuries during tours. In recent years, the rise in smartphone users around the world has led to the growth of online sales platforms. However, the Lack of awareness about smart helmets and the importance of usage of helmets is a restraint of the market.
The bike helmets market is projected to expand at a CAGR of 9.7% during the forecast period
Vista Outdoor Operations LLC, Trek Bicycle Corporation, MET-Helmets (Italy), Giant Bicycles, POC Sports
North America is the fastest-growing region for bike helmets market
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