Cycling Helmet Market Size, Share & Industry Analysis, By Type (Road Helmet, Sports Helmet, MTB Helmet, Others), By Application (Daily Transportation, Sports/ Adventure, Recreation), By End-User (Men, Women) And Regional Forecast, 2024-2032

Cycling helmet is displaying a strong presence around the world as people are progressively concern for their safety and well-being while riding a bicycle. The product being able to protect the user from life-threatening injuries, bad weather conditions, and others help to escalate the requirement. The increasing production of smart helmets, which possess attractive attributes such as LED indicator, water-resistance, shockproof, are acting as an opportunity for market growth. For instance, Zakpro comes up with a smart turn signal cycling helmet with integrated technology that has a water-resistant controller, durable battery, and is of lightweight.

The increasing production of the bicycle in various countries around the world, resulting to surge to the consumption of the product act as a driving factor for the market growth. For instance, according to data issued by India Today in September  2020, is stating that India is producing 22 million units of bicycle every year with a turnover of around USD 94.46 million. The safety concern of children riding their bicycle is fostering parents to consume the product, which thus results to generate traction. Furthermore, the product being applicable for the usage of other sports such as roller skates, scooters, and others propel its demand.

Nevertheless, a large number of people, especially in developing and under-developed countries, neglecting the usage of safety features due to lack of awareness of its importance, and low purchasing power is hampering its growth.

Key Market Driver -

– The rising production of bicycle across the globe is acting as a driving factor for the market growth.

Key Market Restraint -

The negligence of using safety features in riding a bicycle is acting as a restraining factor for the market growth.

Key Players Covered:

Specialized Bicycle Components, SCOTT Sports SA., Trek Bicycle Corporation, Merida & Centurion Germany GmbH, Dorel Sports, and others are the key companies operating in the cycling helmet market.

The cycling helmet market is segmented into by type, application, end-user, and geography.

On the basis of type, the market is fragmented into road helmets, sports helmets, mtb helmet, and others. Road helmet is anticipated to be the leading segment owing to the product being designed and suited for the majority of cyclist who are riding their cycle on public road.

Based on application, the market is grouped into daily transportation, sports/ adventure, and recreation. Sports/adventure is estimated to be prominent on account of people involved in this activity of cycling being more prone to harming themselves, which thus propel them to spend more on safety gear, including cycling helmet.

By end-user, the market is divided into men and women. Men are evaluated to be the dominant due to larger number of men participating in cycling activities as compared to women. Likewise, men dominating in cycling sports also has a vital impact.

Regional Analysis:

On the basis of region, the market is divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

Europe is anticipated to hold the leading share and is projected to continue throughout the forecast period of 2020-2027. The rising popularity of the adoption of bicycles as a means of transportation in various countries of this region is likely to surge the market growth. For instance, according to the World Economic Forum, February 2020, is declaring that the Netherlands is estimated to possessed more bicycles than its population, which is accounted for the use of about half of its journey from home to work in Amsterdam. Furthermore, the booming growth of tourism propelling tourist destinations to create various activities, including cycle riding, has a vital contribution. For instance, according to the World Tourism Council data released in 2018, the European travel and tourism industry is assessed to contribute 9.7 percent to the European economy.

North America is projected to display a significant presence in the cycling helmet market, owing to the increasing number of cycling championships and tournaments influencing people to own a bicycle. For instance, the United States has large number of well-known cycle riding championships, which include Race Across America, The Iditaroy Invitational, USA Cycling Elite BMX National Championships, and others. In addition, large number of people participating in outdoor activities, including cycle riding, is likely to increase the consumption rate. For instance, according to the National Parks Travel.Org, in 2018, about half of the entire United States population, which is 50.5 percent, are engaged in outdoor activities, which is a 3.1 percent rise from the prior year.

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Segmentation

Key Industry Developments-

• In August 2020, Hexr announced the launched of its new voronoi bicycle helmet which is made in a parmetric design.


• In March 2019, Trek and Bontrager declared the introduction of cycling helmet which uses new technology called WaveCel.