Global Cycling Helmet Market is Poised to Reach USD 833.5 Million by 2027
Published | 20 August 2021
A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global cycling helmet market reached USD 686.2 million in 2020. The data generated by the study further reveals that the market is further projected to reach USD 833.5 million by 2027 at a CAGR of 2.9% during 2021-2027 (forecast period). The growth of the global cycling helmet market is attributable to the skyrocketing bicycle sales in the world. There has been an upward trend in the cycling industry over the past few years due to increasing concern for the environment, increasing health awareness, and an increase in racing events around the world. Another factor contributing to the growth of the global cycling helmet market is the increasing government funding for bicycle infrastructure, which is encouraging people to opt for cycling, thereby creating a surge in demand for cycling helmets.
Stringent government laws for preventing bicycle injuries and deathsare driving the global cycling helmet market
Bicycle-related fatalities claimed more than 846 lives in 2019 alone, according to the latest estimates from the National Highway Traffic Safety Administration (NHTSA). Some of the common reasons for such high estimates are poor helmet choices, not wearing helmets on the lanes, inadequate bicycle infrastructure, reckless driving. As a result, government organizations have started initiating and mandating laws for wearing helmets in various regions, which is pushing the demand for cycling helmets worldwide. The bicycle helmet laws vary drastically across different countries. As a result, there has been an upsurge in bicycle helmet sales. As a result, stringent government laws are expected to drive the growth of the global cycling helmet market.
Growth in bicycle tourism is augmenting the growth of the global cycling helmet market
Many countries have started witnessing a rise in bicycle tourism, which is positively impacting the growth of the bicycle market. According to a report from the Outdoor Industry Association (OIA), in 2019, bicycling tourism reached USD 83 Million, indicating that people are more inclined toward bicycling than driving cars and automobiles as a physical and healthcare management activity. It is thus augmenting the opportunities for those people who have fitness on their priority list. Because bicycles provide significant whole-body muscle movement, they are among the top cardio exercises for the older generation worldwide, whose numbers are rapidly increasing. Aside from this, technological advancements in helmets are helping cyclists reduce the chances of accidents, which is increasing the demand for helmets. Due to the fact that a helmet is compulsory safety equipment for beginners, sales of cycling helmets have increased, improving the global market for cycling helmets.
Based on types, the road helmets segment holds the largest market share
The road helmet segment held the largest share in the global cycling helmet market in 2020. The reasons for the growth of the segment include rising adoption rates of cycling helmets to monitor fitness levels, government initiatives to encourage people to ride bicycles (Green Deal to incentivize bike helmet sales), and a reduction in taxes on bicycles, which in turn are driving the cycling helmet sales. Because many countries require people to wear helmets, the increase in cycling sales in many regions is directly related to the increase in helmet sales. Additionally, rising traffic accidents and bicycle-related deaths have prompted the government to take action against the poor bicycle infrastructure. Governments of different countries are also encouraging riders to opt for more user-friendly helmets, which is augmenting the growth of the global cycling helmet market.
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Based on end-use, the daily transportation segment holds the largest market share
Based on end-use, the global cycling helmet market is grouped into daily transportation, and Sports/adventure. The daily transportation category accounted for the highest share in the global cycling helmet market in 2020. Daily transportation via bicycle becomes important for individuals in countries where public transportation is not sound. As a result, people are resorting to bicycling for their daily commute. Thus, it is propelling the growth of the global cycling helmet market in developing countries. Other factors driving market growth include rising concussion rates, an increase in bicycle-related deaths, and stringent government regulations for cycling helmets in many countries. Furthermore, the growing popularity of sports biking is positively influencing the demand for bicycle helmets, thereby enhancing the expansion of the global cycling helmet market.
Global Cycling HelmetMarket: Regional Insights
Based on region, the global cycling helmet market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Among the regions, the Asia Pacific held the largest share in the market in 2020. Bicycles are the most popular form of transportation in the region, and the laws demand that cyclists opt for helmets before riding, which is driving the global cycling helmet market. Europe is second only to Asia-Pacific in terms of bicycle riders, which has some of the best cycling infrastructures in the world. According to one statistic, over USD 1.14 billion has been spent so far on revamping the cycling infrastructure as a part of the EU's Green Deal. Additionally, over 1000 km have been implemented so far. Thus, the development of infrastructure continues to benefit the growth of the cycling market in Europe, increasing the demand for cycling helmets in the region.
Global Cycling Helmet Market – COVID-19 Impact Analysis
The initial phase of COVID-19 has had a severe impact on the sales of bicycles as the world had to undergo lockdown restrictions. The measures induced the helmet manufacturers to shut their operations to eradicate and reduce the infection rates. It resulted in supply chain disruption and reduced the demand for cycling helmets as the people were encouraged not to leave their homes amid the pandemic. However, easing the lockdown measures caused bicycle sales to increase sharply after the government encouraged people to avoid public transportation. As a result, an upsurge in bike sales was followed by a surge in helmet sales as well, thereby providing some support for the manufacturers. Additionally, the market players have started adopting measures like online sales distribution channels for expanding their presence online. It is helping the manufacturers showcase the capabilities of their helmets on the internet, which has become the driving force for the global cycling helmet market.
The leading players in the global cycling helmet market are Smith Optics Inc., MET Helmets, Trek bicycle corporation, Specialized Bicycle Components, Inc., Vista Outdoor Inc., Oakley Inc., POC sports, August Bremicker und Söhne KG, LimarSrl, SCOTT Sports SA, Canyon Bicycles GmbH, KASK s.p.a, Uvex Sports, Dorel Industries, Orbea, Giant Manufacturing Co. Ltd., and other prominent players. The global cycling helmet market is fragmented in nature, with a large number of players operating in the manufacturing of cycling helmets. Additionally, companies are leveraging technologies and advanced features to strengthen their presence in the global cycling helmet market by investing in research & development to capture a larger share in the global cycling helmet market.
In March 2021, MET helmets announced the launch of DuPont’s Manta MIPS helmet. The helmet is focusing upon four major areas, safety, aerodynamics, fit, and style. The MIPS-C2® brain protection system enables the helmet shell to slide amid any crash, which redirects the rotational energy that could harm the rider. The 360-degree head belt also reduces pressure points for the skull, enhancing the fit of the product.
Don’t miss the business opportunity of the global cycling helmetmarket. Consult our analysts to gain crucial insights and facilitate your business growth.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global cycling helmetmarket.It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global cycling helmetmarket and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Global Cycling Helmet Market, By Type (MTB helmets, Road Helmets, Sports helmet); By End-Use Industry (Daily Transportation, Sports/adventure); By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: November 2020
The global cycling helmet market is experiencing substantial growth for the past few years. The trend is expected to remain strong in the future due to the rising bicycle infrastructure investment, growing emphasis on the increasing number of bicycle-related deaths, and the adoption of the latest technologies in the manufacturing of helmets.
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