Motorcycle Helmet Market Size and Growth, Rising Trends, Revenue, Key Players, Challenges, Business Opportunities and Forecast Till 2033: SPER Market Research
A motorcycle helmet is a sort of protective headgear designed specifically for persons who ride motorcycles and other two-wheel vehicles. It is a crucial piece of safety gear that lowers the risk of brain damage during motorcycle collisions, falls, and wrecks. The primary purpose of a motorcycle helmet is to protect the rider’s brain and head, as they are particularly vulnerable to harm in an accident due to the high speeds and absence of exterior protection found in enclosed vehicles. The helmet reduces the risk of severe head injuries by acting as a barrier between the rider’s head and potential collisions with hard surfaces or objects by absorbing and distributing impact force.
According to SPER market research, ‘Motorcycle Helmet Market Size- By Product, By Material Type, By End User, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Motorcycle Helmet Market is predicted to reach 5163.1 million by 2033 with a CAGR of 6.33%.
Helmet manufacturers should have strong growth potential due to the rising demand for luxury motorcycles around the world and the popularity of motorcycle races and events. In addition, motorsports and racing competitions are becoming more and more popular on a national and worldwide level. Technological developments have also made it simpler for entrepreneurs to launch smart helmets on the international market. By preventing traffic collisions, smart helmets employ cutting-edge technology to enable motorcycle riders to travel safely and successfully. The smart helmet has several features, including Bluetooth, Wi-Fi, GPS, speech recognition, cameras, and tracking devices. Therefore, it is anticipated that the introduction of a smart motorbike helmet with several functions will provide substantial market prospects.
One significant barrier in the market is the presence of fake or inferior helmets. In addition to routinely breaking safety regulations, counterfeit helmets might not offer enough protection in the event of an accident. The availability of inexpensive, fake options may discourage customers from buying real, approved helmets, slowing the growth of the motorcycle helmet market and endangering rider safety. Moreover, even with initiatives to increase public knowledge of safety, there are still areas where motorcycle riders do not understand the importance of donning helmets or may underestimate the dangers of riding without sufficient headgear. The potential for expansion in the motorcycle helmet market may be hampered by a lack of knowledge and instruction regarding helmet safety, since motorcyclists may decide not to purchase helmets or may opt for less-than-satisfactory alternatives.
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This COVID-19 has harmed the market for motorcycle helmets. Governments in various countries imposed travel restrictions and lockdown procedures, forcing people to stay at home during the lockdown. Consequently, there was a sharp decline in motorcycle helmet sales. Furthermore, the worldwide economic recession restricts the purchasing power of people. COVID-19 has caused a decline in motorcycle sales worldwide, which has resulted in a decline in sales of motorcycle helmets in 2020.
Geographically, Asia-Pacific is predicted to lead the worldwide motorcycle helmet market during the forecast period. Numerous variables, including a rise in motorcycle sales, an increase in accidents, and government laws, are driving the boom in the region. Bell Helmets, Aria Helmet, Ltd., HJC America, Inc., Shoei Co Ltd., Schuberth GmbH, AGV Helmets, and other well-known businesses are also significant competitors in the market.
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Motorcycle Helmet Market Outlook
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