Helmet Market to Rise at CAGR of 5.7% During Forecast Period, Notes TMR Study
- Popularity of next-generation motorbike helmets is growing due to sound control and Bluetooth functionalities
- China's helmet makers are beefing up their production capacity to build almost invincible helmets with smart features
ALBANY, N.Y., March 3, 2022 /PRNewswire/ -- The global helmet market is likely to rise at a CAGR of 5.7% during the forecast period, 2020 to 2030. The global market is projected to attain valuation of US$ 34.2 Bn by 2030. In China, smart helmets are becoming more prominent amongst police departments to detect suspected COVID-19 positive patients. Firms in China's helmet industry are beefing up their production skills to create almost unbreakable helmets with smart features like vehicle registration plate recognition and temperature sensing.
Head-up display helmets are being developed by Chinese helmet makers, and these helmets can read body temperatures in real time. As a result, companies across the globe are emulating Chinese helmet makers in their efforts to develop smart helmets. These smart helmets' AI-based cameras provide distinct benefits in preventing the transmission of the coronavirus.
Firms in the global helmet market are benefiting from design innovation efforts conducted by prominent sports teams. For instance, the National Football League (NFL) has set aside $3 million for its NFL Helmet Challenge, which aims to encourage the creation of helmets that beat existing models in lab testing. As a result, firms in the global helmet market are beefing up their R&D abilities to produce cutting-edge solutions that meet the needs of athletes.
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Key Findings of Market Report
- Growing focus on precaution and safety has fueled demand for helmets in the recent years due to greater engagement in riding, sports, and biking, as well as growing construction activities throughout the world
- Increase in the number of helmets fitted with the Multi-directional Impact Protection System (MIPS) technology has resulted in enhanced safety of end users. Helmet liners as well as the little yellow MIPS label are now ubiquitous. MIPS has grown at an incredible rate since 2010, with 60 helmet companies, about 300 designs on the road, and over 5 million helmets sold.
- Lightweight helmets are favored internationally and are very popular, which is expected to drive the global helmet market during the forecast period. Helmets are being increasingly made of lightweight materials. In India, Steelbird Hi-Tech India Ltd. (SBHT) has introduced carbon fiber-reinforced plastic helmets that are lighter, stronger, can withstand high temperatures, and are extremely durable. As a result, consumers favor lightweight helmets.
- The Asia Pacific helmet market is the world's fastest as well as largest growing market. In this region, both India and China are two of the most important helmet markets. The bike and road bike helmets market in Asia Pacific is expected to be driven by rapid growth in two-wheeler production and sales in India and China. In the near future, development in infrastructural construction activities, rapid industrialization, application of stringent rules and regulations for road safety, and variety of other standards are expected to boost total sales of helmets.
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Global Helmet Market: Growth Drivers
- High-net-worth populace and athletes' need of smart helmets have generated an immense potential for helmet producers all around the world. The smart helmet system is intended for motorbike riders who want to emphasize on safety and awareness whilst riding.
- Novel helmet designs can endure sports-related twists and rotations. Robert Knight, a UC Berkeley neurologist, has developed a revolutionary helmet design that reduces the risk of head trauma in athletes. Helmet makers are working with neurologists and researchers to develop improved designs for hockey and football helmets.
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Global Helmet Market: Key Players
Some of the key market players are
- Specialized Bicycle Components, Inc.
- GIRO Sport Design
- STUDDS Accessories Ltd.
- Shoei Co., Ltd
- MT Helmets
- Bell Helmet
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Global Helmet Market: Segmentation
Type
- Sports
- Moto
- Safety
Category
- Conventional Helmet
- Smart Helmet
- Others
Gender
- Male
- Female
Price
- Low
- Medium
- High
Design
- Full Face
- Open Face
- Half Face
Distribution Channel
- Online
- Offline
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