Motorcycle Helmets Market to Reach US$ 3,516.5 Mn by 2027; TMR Analyzes Impact of COVID-19 on Market; Stakeholders to Focus on Long-term Dimensions

Safety is an important concern for bike riders, and helmets play a crucial role in ensuring safety. A motorcycle crash may result in head injuries, as a result of either excessive acceleration–deceleration or through a direct contact with hard objects. In the event of a traffic crash, motorcycle helmets provide the best protection from head injury to motorcyclists. The motorcycle helmet is manufactured to minimize the risk of all kinds of head injuries. Helmet regulations and standards have been developed globally to test the effectiveness of helmets in providing protection. In many low-middle and low income countries, motorcycles are the main form of motorized transport. In some of these countries, economic progress has caused sharp increase in number of motorcycles in use. Helmets are the only safety measure proven to save lives, with no negative health effects from its use. Motorcycle helmets do not limit a rider’s ability to see a vehicle in the next lane or to hear important sounds.

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The global motorcycle helmets market is expected to reach around US$ 3,516.5 Mn by 2027. The Asia Pacific motorcycle helmets market garnered the highest share, accounting for US$ 978.4 Mn in 2017. The market dynamics of the global motorcycle helmets market are subject to factors mainly related to the increase in sale of two wheelers across the world and enforcement of traffic laws & road safety regulations. Asia Pacific and Europe dominate the motorcycle helmets market. Sale of two wheelers is increasing across the world. According to European Association of Motorcycle Manufacturers (ACEM), the number of motorcycles registered in the EU was 830,694 units in the first nine months of 2018. In Asia Pacific, sale of two wheelers especially in India (which has emerged as the largest two wheeler market in the world) has increased. In India, as per Society of Indian Automobile Manufacturers (SIAM), the domestic sale of two wheelers increased from 1.3 million in 2012-13 to 2 million in 2017-18 at a CAGR of 7.9%. Hence, rise in motorcycle sales is expected to propel the growth of the motorcycle helmets market over the forecast period. Moreover, regulatory authorities across the world are enforcing stringent traffic safety regulations regarding the usage of helmets, leading to rise in acceptance of motorcycle helmets and other safety accessories to prevent fatal injuries. The impact of this driver on the motorcycle helmets market is expected to be high during the forecast period.

One of the major challenges affecting the growth of the motorcycle helmets market is the lack of awareness about road safety in emerging economies. Globally, the number of road traffic deaths is increasing; however, road traffic awareness among drivers is still lacking. As per WHO, globally the number of road traffic deaths have increased from 1.15 million in 2000 to 1.35 million in 2016. The lack of road traffic awareness is higher in developing regions and least developed countries. In 2016, the vehicle share in low-income countries was 1% but its road traffic death share was 13.0%.In India, wearing helmets while riding a motorcycle is ridiculed. As per UN reports, wearers of low quality helmets get more severely injured in case of accidents. Thus, lack of road safety awareness in developing and low-income countries is a major hindrance to the growth of branded driving protection gear products.

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Increase in demand for luxury motorbikes across the globe and rising popularity of motorcycle racing events & championships are the key factors anticipated to create good growth opportunity for motorcycle helmets manufacturers. Rapid increase in demand for luxury motorbikes has created huge opportunity for helmet manufacturers worldwide. The Asia Pacific region has seen a rise in sale of luxury motorbikes over the last few years. Furthermore, the popularity of motorsports and national & international level racing championships is rapidly increasing across the world. Leading automobile manufacturers such as Honda, Suzuki, Ducati, Yamaha, and Repsol Honda play a vital role in the success of the sport through dealer promotion, advertising, and also by offering financial and technological support to teams, riders, and track operators.

Some of the key players profiled in the global motorcycle helmets market are ARAI Helmets, Bell Helmet, Dainese S.p.A (AGV), Manufacturas Tomas SA, HJC Helmets, Nolan Helmets SpA, Schuberth GmbH, Shark Helmets, Shoei Co. Ltd., and Studds Accessories Ltd.

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