In 2023, the global motorcycle helmet market is expected to achieve an impressive valuation of US$ 2.7 Billion. Exhibiting a CAGR of 7.1% from 2023 to 2033, it is anticipated to reach a market valuation of US$ 5.3 Billion by the end of the forecast period.
The anticipated rise in global demand for luxury motorcycles, coupled with the increasing popularity of motorcycle events and championships, presents promising growth opportunities for helmet manufacturers. Furthermore, the surging worldwide popularity of motorsports and racing championships, both at national and international levels, adds to the favorable outlook.
Major automakers such as Honda, Ducati, Suzuki, Yamaha, and Repsol Honda play a significant role in this success. They contribute through dealer promotions, advertising, and offering financial and technical support to teams, riders, and track operators.
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Technological advancements have aided market operators to launch smart helmets into the global market. Smart helmets have advanced features to help riders ride easily and efficiently by avoiding road accidents.
Some of the smart helmet’s features include GPS connectivity, voice assistance, tracking systems, cameras, Bluetooth, and Wi-Fi connectivity. Smartphones can be connected to smart helmets. This helps riders make, receive, and reject calls. Smart helmets can also help to reduce head injuries in traffic accidents. Hence, the launch of a multifunctional smart motorcycle helmet is expected to provide lucrative growth opportunities for the market.
Key Takeaways-
- By end-user, Rider motorcycle helmet is dominating the market in the forecast period.
- Full face segment is leading the motorcycle helmet market during the forecast period.
- With a CAGR of 8.1%, online segment is going to dominate the market by distribution channel.
- Asia pacific held the largest market of 67.2% in motorcycle helmet market in 2022.
- Europe is anticipated to register the highest CAGR of 8.4% by the end of 2033.
- Asia pacific is going to dominate the market in the upcoming years owing to the highest sales of motorcycles in the region.
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Competitive Landscape-
- Recently, in July 2019, For cite launched its MK1 smart motorcycle helmet with a unique LED visual communication strip that provides additional features such as an HD wide-angle camera, Bluetooth port unit, Voice over Internet Protocol intercom (VOIP), and a handlebar-mounted control unit
- In October 2021, HJC premium helmet manufacturer announced that the company is working with Red Bull Racing for the launch of the first-ever Red Bull licensed helmets for its consumer base. The company forefront partnership with Red Bull helped it to design a very special helmet, i.e., RPHA 1 Red Bull Austin GP helmet.
- In October 2021, Royal Enfield launched a new range of its limited-edition helmets amid the celebration of its 120th anniversary. The helmet is open face helmet that weighs around 1,280 grams approximately. Furthermore, it is launched with a face-covering bubble visor and premium leather material treated with polygiene.
- In December 2021, Vega, a Belgaum-based manufacturer from India, announced its partnership with BASF for the production of lightweight, comfortable and safe motorcycle helmets. Under this partnership, Vega engages in BASF’s material innovation solution to install the best material in the helmets.
Key Segments Profiled in the Motorcycle helmet market Industry Survey
By product:
- Full face
- open face
- Off-road racing
- Others
by distribution channel:
- Online channels
- Offline channels
By End-user:
- Rider
- Passenger
By Region:
- North America
- Europe
- Asia pacific
- Latin America
- Middle East and Africa (MEA)
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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