Strict road safety regulations to create opportunities for bicycle helmets market
The bicycle helmet is an important accessory that prevents head injuries in the event of an accident among cyclists and is mandatory in most cycling events. Bicycle helmets sit securely on the head and can be secured with a strap under the chin. With the latest technologies, bicycle helmets today are lightweight, with improved aerodynamics and offer better ventilation. Strict road safety regulations and stringent government rules across the globe are expected to drive the bicycle helmet market over the forecast period.
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Key Drivers and Restraints of the Global Bicycle Helmets Market
Cycling has become a popular activity practiced for recreational or sporting purposes. Bicycle helmets serve more than one purpose; in addition to head protection, it improves visibility, provides weather protection and can accommodate communication devices.
Bicycle helmets are available in different designs and colors to suit everyone’s needs. The material used in most of these helmets is EPS foam inside with a hard outer shell. EPS foam contracts on impact and protects the head.
Recent research and development on bicycle helmets has proven that helmets help to avoid the rotational force experienced in a crash. This minimizes the risk of head injury. Technologies such as WaveCel, SPIN and MIPS help reduce rotational force in a crash.
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Bicycles are cheap and an environmentally friendly mode of transport. Cycling is a good form of exercise to stay in shape. Many people prefer to ride a bicycle on their commute. Increasing health awareness plays a vital role in driving the market. Millennials’ inclination towards outdoor fitness and cycling activities is expected to drive the bicycle helmet market.
Growing environmental concerns have led to an increase in the number of cyclists around the world. Increasing disposable income, increasing purchasing power, increasing cycling events and increasing bicycle sales are factors that are likely to lead to increased sales of bicycle helmets over the period. forecast.
The recreational segment is expected to experience higher growth over the forecast period. Thus, growth in adventure sports activities is likely to fuel the bicycle helmet market. Europe is expected to dominate the bicycle helmet market. Manufacturing companies are investing in R&D to come up with new products such as smart helmets. The latest innovation in helmets is LEDs on the helmets which help at night.
Lack of awareness about cycling and the importance of wearing helmets is a drag on the market. The market is highly fragmented and lower priced available bicycle helmets offered by regional players could hamper the business of larger players.
Manufacturers try to attract consumers by making helmets with unique features, shapes and colors, and compete on price in this highly fragmented market.
Rising concerns due to increase in road accidents and strict government laws are expected to boost the global bicycle helmet market over the forecast period.
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Europe to dominate the global bicycle helmet market
In terms of region, the global bicycle helmets market can be divided into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa
Asia-Pacific is expected to witness the maximum demand for bicycle helmets from 2019 to 2027. Europe and USA dominate the market and are expected to continue their dominance. Major manufacturers are investing heavily in developing economies. Leading bicycle helmet manufacturers have extensive distribution networks as well as deep product penetration.
Major manufacturers operating in the market
The global bicycle helmet market was highly fragmented in 2018. Major manufacturers operating in the global market are listed below:
Trek Bicycle Corporation
ABUS AUGUST BREMICKER SÖHNE KG
SCOTT Sports SA
Specialized Bike Components, Inc.,
GIRO SPORT DESIGN
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