The global helmets market size is slated to expand considerably attributable to the rising demand for helmets because of the increasing number of road accidents and strict government regulations. Fortune Business Insights™ shares this information in its latest report, titled "Helmets Market, 2021-2028."
Rising cases of road accidents have made it imperative to wear a helmet during a drive. These wearables protect the driver during a ride by enabling an extra layer of protection against impacts. In addition, the World Health Organization (WHO) has reported a total of 1.35 million cases of road fatalities annually. Governments have implemented norms deeming it compulsory for the driver to wear a helmet while driving a two-wheeler as a safety precaution. Therefore, this market is expected to exhibit rapid growth in the forthcoming years.
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Impact of COVID-19
The booming demand for door-to-door delivery services amid the COVID-19 pandemic and the gradual easing of lockdown measures have led to people returning to working from offices, resulting in a spike in the usage of two-wheelers. Moreover, law enforcement personnel have been increasingly using smart helmets equipped with thermal scanners to detect infections in people. As a result, the coronavirus might prove beneficial for the helmets market growth.
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Segments
On the basis of product type, the market is segmented into full-face helmets, half-face helmets, open-face helmets, and others. Based on end-users, the market is divided into commuters, sports & recreational purposes, military, and others. Based on distributional channels, it is segregated into offline and online stores. Geographically, it is categorized into North America, Asia Pacific, Europe, South America, and the Middle East& Africa.
Highlights of the Report
The report conducts primary and secondary analyses of several factors, highlighting their impact on the market’s growth. It examines the qualitative and quantitative aspects of the market. It conducts a comprehensive evaluation of the strategies undertaken by key players in the market and provides a detailed analysis of the regional developments influencing the market.
Drivers and Restraints
Rising Demand for Two-wheelers to Increase Adoption of Helmets
The rapidly rising sales of two-wheelers are escalating the demand for head protection gear. For example, in March 2021, the Indian investment company, Motilal Oswal, predicted that two-wheeler sales in India will grow by 6% to 8% over the next five years. Furthermore, the high popularity of sports events requiring the use of two-wheelers, such as bike races is expected to strengthen the demand for helmets among athletes. The incorporation of different colors and styles aimed towards passengers and athletes by manufacturers is attracting a huge consumer demand for various headgear products. In addition, protective helmets made for aerospace, military, & defense sectors are also anticipated to drive the market's growth. However, restraining factors such as the lofty pricing of premium helmets and strict government lockdown regulations are expected to hinder the market.
Regional Insights
Healthy Demand for Travel and Sports Helmets in China to Stoke the Asia Pacific Market Growth
The Asia Pacific region is expected to lead the helmet market share based on the rapidly increasing sales of scooters and bikes in India and China. In India, sales for motorbikes have risen to 20.19million units from 2017-2018, as per the analysis of the Seconded European Standardization Expert in India (SESEI). Additionally, well-known helmet manufacturers such as STUDDS Accessories Ltd, Vega Helmet Corporation, and Wenzhou Helmet Manufacturing Co. are responsible for the rising demand for helmets in the Asia Pacific.
In North America, rising road fatalities in the US and Canada are expected to augment helmets' adoption and drive the market growth for the foreseeable years. The Bicycle Helmet Safety Institute reports a death toll of 857 drivers. Therefore, the use of this headgear increased from 55% to 70.1% in 2017.
Competitive Landscape
Development of Advanced Security Features in Helmets to Boost Demand
Companies have partnered to produce helmets possessing advanced security features. For example, in December 2019, Pininfarina partnered with Roux Helmets to equip their products with advanced safety features such as water cooling technologies, reducing heat during races, and communication devices, such as noise-canceling speakers and drinking tube microphones. In addition, car manufacturers such as OMP Racing S.p.A acquired Bell Sports Inc. for the expansion of manufacturing and distribution activities of Bell Sport's huge lineup of products comprising over 2000 products. Furthermore, the companies have undertaken strategies such as research and development and product launches to create a bigger market footprint.
Industry Insights
January 2020: A Taiwantechnology startup named JARVISH Inc. launched helmets incorporated with artificial intelligence technology to provide excellent safety features.
List of the Key Players of the Market
JBM Gear
Arai Helmet Ltd.
Shoei Co. Ltd.
DAINISE
Shark Helmets
HJC Corp.
p.A
Nolan Helmets S.p.A
Spartan ProGear Co.
Atomic Defence
AIROH
Tech Design Team S.L.b
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