Bike Helmet Market Regional Analysis and Forecast to 2024
Europe was the largest market for bike 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 bike 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 bike accidents is a key factor for market growth in this region.
The Global Bike Helmet Market Analysisis 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. Bike 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.
There are various safety standards in different countries for bike riders. Thus, the presence of safety regulations and laws concerning helmets is expected to fuel the growth of the market for bike helmets. Moreover, the increased number of cycles on the road has led to a high accident rate which has influenced the sales of bike helmets across the globe. Also, with the increasing popularity of professional cycle racing, the sales of bike helmets are expected to rise during the forecast period.
The global bike 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.
Based on application, the global bike helmet market has been classified as daily transportation and sports/adventure.
- 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)
- KASK S.p.a. (Italy)
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Geographically, the global bike 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.