Overview
A CAGR of 5.35% is projected to be registered by the global bike helmet market as reported by expert market analysts in a market research report published recently. The report suggests that the market will reach US$1.12 billion by the end of 2028. The report on the market for bike helmets is a systematic analysis and representation of factors, limitations, possibilities, demand factors, sales volume, projections, and developments in the global market for bike helmets from 2021 to 2028. In addition, the study is a comprehensive presentation of results from primary and secondary research. The report provides full coverage of all the market segments for bike helmets to evaluate development trends, worldwide market innovations and market size estimates up to 2028.
Market Segmentation
The global bike helmet market is segmented based on type and applications. On the basis of type, the bike helmet market is segmented into sports helmet, MTB, helmets, and bike helmets. Additionally, on the application side, the market is segmented into sports/adventure and daily transportation.
The category of road helmets is projected to be bigger, recording a significant CAGR and reaching US$415.5 million over the course of 2024. Biking is becoming an essential part of modern society globally, especially in the United States, the United Kingdom and the Netherlands, where lots of folks travel by bike. However, due to the growing number of sports bike events around the world, the sports helmets segment is expected to exhibit the lucrative growth during the forecast period.
Regional Overview
The global bike helmet market is segmented based on regions where active market players conduct their business operations. The regional markets covered in the research report are Europe, Asia-Pacific, North America, South America, the Middle East. The country-level markets covered in the report from these regions are India, China, Japan, Australia and New Zealand, UK, France, Germany, Italy, US, Canada, Mexico, and Africa.
During the forecast period, the European bike helmet market is projected to still be the biggest. In 2018, the region accounted for 36.35 percent of the entire share of the market. In this region, with a CAGR of 7.46 percent, Italy is projected to be the major growing country-level market throughout the forecast period. The Asia-Pacific market, moreover, is expected to register the highest CAGR of 5.95 percent during the projected timeline. Increasing recognition of bike safety and strict regulation by governments around the world are leading to the growth of the demand for bike helmets. The North America region also holds a large global bike helmets market share is expected to show a modest growth rate during 2019 through 2024 forecast period. And during the forecast timeframe, the United States is expected to hold the majority of the market share.
Competitive Landscape
The main factors contributing to the growth of the bike helmet market are the booming auto industry and growing consumer demand for high-quality safety equipment. Consumers are becoming increasingly aware of the increased comfort and protection of quality bike helmets, which are improving their sales. The five-force model in the study offers insights into the overall market competitiveness, buyer - supplier dynamics and prospects for potential entry in the global market for bike helmets from 2021 to 2028.
Industry News
Compass Diversified has acquired BOA Technology, the distributor of closure systems to many helmets, shoes, and apparel manufacturers in the bike industry. The transaction, worth US$454 million (with the exception of capital expenditures), encompasses the entire company which has extensive reach into winter sports, hiking, golf, and biking, aside from serving the cycling marketplace.
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