Global Bike Helmet Market By Type, Application and Regional Forecast to 2024
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Global Bike Helmet Market: Information by Type (Road Helmets, Sports Helmets and MTB Helmets), Application (Daily Transportation and Sports/Adventure) and Region (North America, Europe, Asia-Pacific, South America and Middle East & Africa) – Forecast till 2024
Advancement of the international marketplace is owing to the occurrence of severe rules directing the usage of helmets. The rising inclination of biking as an arrangement of workout to cut fat while improvising aptness is pouring the development of the global bike helmet market. Besides, bicycles are cost effective and also environmentally friendly means of transport, as equated to other vehicles, which has enrolled to an increase in the quantity of cyclists around the world in these years. The Global Bike Helmet Market is predictable to record a CAGR of 5.35% and is projected to reach USD 1,118.7 Million by 2024. The evolution of the global market is due to the presence of severe government norms concerning the use of protecting gear when riding bicycles or bikes.
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Furthermore, product inventions with progressive safety features along with improved looks of the product are further improving the progress of the market. Bike helmets generally serve more than one purpose, including increased visibility, crash and weather protection thus accommodating communications devices. The helmet is generally intended to accompaniment the shape of the skull to offer extreme protection and act as a guard. Furthermore, the mounting trend of specialized cycle races and cumulative occurrences of bike accidents are probable to impact the global market and its growth. Though, the high prices of bike helmets are predictable to hamper the growth of the market during the said forecast period. Bike helmets are protecting gear worn to defend the head of the cyclist in case of an accident, if the case happened to be so. The global bike helmet market is likely to record a noteworthy growth during the said forecast period.
The global bike helmet market has been segmented by Type under which is included Sports Helmets, MTB Helmets and road helmets, then segmented by Application and is given further for Sports/Adventure and Daily Transportation. By Region it’s spread across regions like North America, Asia-Pacific, Europe, South America and Middle East & Africa respectively. Biking has developed a great popularity around the globe, particularly in the US, the UK and the Netherlands where the mainstream of residents’ travel by bike. The sports helmets segment is predictable to display the maximum CAGR during the said forecast period due to the collective number of sports bike events and happenings around the world. An additional segmentation for Company Profiles of Regional Key Players as well as Country-Level Analysis can be provided into the report. The road helmets segment is foreseeable to be higher thus recording a considerable CAGR to reach around USD 415.5 Million by the end of the year 2024.
Geographically, the global bike helmet market is split in regions like US, Canada and Mexico in NA, followed by Europe including Germany, Russia, France, UK, Spain, Italy and the Rest of Europe, while Asia-Pacific comprises of regions like India, South Korea, China, Japan, Indonesia, Malaysia, Thailand Australia & New-Zealand and the rest of Asia-Pacific respectively. In South America, there are comprised regions of Chile, Columbia, Brazil, Peru and the Rest of South America and last comes the region of Middle East and Africa. The North American market is assessed to observe a phenomenal evolution of the global bike helmet market due to the reasoning of the high manufacturing and is predictable to display a reasonable growth rate during the said forecast period of 2019 to 2024. The US is assessed to grasp the widely held market share during the said forecast period.
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