Cycling Helmet Market poised to grow at a CAGR around 5.35% during the forecast period
Market Highlights
The Global
Cycling Helmet Market is estimated to be valued at USD 1,118.7
Million by 2024 and is expected to register a CAGR of
5.35% during the forecast period. Cycling helmets are
personal protective equipment for the prevention of head injuries. There are
different types of helmets such as road, sports, and MTB helmets, depending on
the application.
Europe was the largest
market for cycling helmets in 2018 and the regional market is expected to
maintain its dominance during the review period. In Europe, the market in Italy
is projected to exhibit the highest growth rate of 7.46% during
the forecast period. North America held a significant market share and was the
second-largest market for cycling helmets in 2018. However, the Asia-Pacific
market is projected to register the highest CAGR during the forecast period.
Increasing safety concerns regarding the rising instances of road accidents is
a key factor for market growth in this region.
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There are various
safety standards in different countries for cycle riders. Thus, the presence of
safety regulations and laws concerning helmets is expected to fuel the growth
of the market for cycling helmets. Moreover, the increased number of cycles on
the road has led to a high accident rate which has influenced the sales of
cycling helmets across the globe. Also, with the increasing popularity of
professional cycle racing, the sales of cycling helmets are expected to rise
during the forecast period.
Segmental Analysis
The global cycling
helmet market has been segmented on the basis of type, application, and region.
By type, the market
has been divided into road helmets, sports helmets, and MTB helmets. The
road helmets segment accounted for the largest market share in 2018. Stringent
regulations mandating the use of helmets in daily transportation in most
countries have boosted the growth of the segment. Moreover, regulations for helmet
manufacturers to offer lighter and safer products will drive the growth of the
segment. However, the sports helmets segment is projected to register the
highest CAGR during the forecast period. The growing trend of sports
activities, especially in developing countries, is driving the growth of the
segment.
Based on application,
the global cycling helmet market has been classified as daily transportation
and sports/adventure. The daily transportation segment accounted for
the larger market share in 2018. The increasing number of accidents and
government mandates for the use of cycling helmets for on-road cyclers is
driving the growth of this segment. However, the increasing popularity of
adventure sports is expected to propel the growth of the sports/adventure
segment in the coming years. Thus, the sports/adventure segment is projected to
exhibit the higher CAGR during the forecast period.
Market Players
Market Research Future
recognizes Polisport Plásticos SA (Portugal), Vista Outdoor Operations
LLC (US), Specialized Bicycle Components (US), Dorel Sports (Canada), Uvex
Sports (Germany), Trek Bicycle Corporation (US), MET-Helmets (Italy), Limar Srl
(Italy), Orbea (Spain), SCOTT Sports SA. (Switzerland), and KASK S.p.a.
(Italy), Merida & Centurion Germany GmbH (Germany), Giant Manufacturing
Co., Ltd (China), Amer Sports (Finland), POC Sweden AB (Sweden), Urge Bike
Products (France), and LAS helmets (Italy) as the key players in
the global cycling helmet market.
Regional Analysis
Geographically,
the global cycling
helmet market has been segmented into North America, Europe,
Asia-Pacific, South America, and the Middle East & Africa. As per MRFR
analysis, Europe dominated the market, accounting for the largest share,
in 2018. However, the market in Asia-Pacific is expected to
register the highest CAGR of 5.95% during the assessment
period. The North American market accounted for the second-largest market
share in 2018. The market in North America is estimated to reach USD
347.1 million by the end of 2024, with the US being the leading
country-level market.
Key Findings of the Study:
- The Global Cycling Helmet Market is projected to reach USD
1,118.8 Million by 2024 at a 35% CAGR during the
review period of 2019 to 2024.
- Europe accounted for the largest market share in 2018,
with France being the major contributor to the growth of the regional
market.
- The road helmets segment is projected to dominate the global
cycling helmet market, by type, during the forecast
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