Cycling Helmet Market Outlook
The Global Cycling Helmet Market is estimated to be valued at USD 835.5 million by 2030 and is expected to register a CAGR of 3.2% 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 2021 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 2021. 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.
Market Segmentation The cycling helmet market can be segmented by type, application, and region.
- Road helmet
- MTB helmet
- BMX helmet
- Kids helmet
- Other helmets
Road helmets are the most popular type of cycling helmet market, accounting for the largest share of the market. MTB helmets are also popular, as they are designed to protect riders from the more demanding terrain of mountain biking. BMX helmets are designed for the specific needs of BMX riders, and kids helmets are designed to fit and protect the heads of children.
- Recreational cycling
- Commuting cycling
- Professional cycling
Recreational cycling is the largest application segment of the cycling helmet market, accounting for the majority of sales. Commuting cycling is also a significant application segment, as more and more people are choosing to cycle to work as a way to stay healthy and reduce their carbon footprint. Professional cycling is the smallest application segment, but it is still a growing market.
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
North America is the largest regional market for cycling helmets, accounting for over 30% of the global market share. Europe is the second largest regional market, followed by Asia Pacific. The Latin America and Middle East and Africa regions are expected to witness the fastest growth in the coming years.
Some of the key players in the cycling helmet market include:
- Specialized Bicycle Components
- Scott Sports SA
- Trek Bicycle Corporation
- Merida & Centurion Germany GmbH
- Dorel Sports
- Vista Outdoor
- Fox Racing
These companies offer a wide range of cycling helmets to cater to the different needs of cyclists. For example, Specialized Bicycle Components offers a wide range of road helmets, MTB helmets, and BMX helmets. Scott Sports SA offers a range of road helmets, MTB helmets, and cross-country racing helmets. Trek Bicycle Corporation offers a range of road helmets, MTB helmets, and kids helmets.
Some of the key trends in the cycling helmet market include:
- Increasing demand for lightweight and aerodynamic helmets
- Growing popularity of smart helmets
- Rising demand for helmets with MIPS technology
Lightweight and aerodynamic helmets are becoming increasingly popular, as they offer better performance and comfort to cyclists. Smart helmets are also becoming more popular, as they offer features such as fall detection and GPS tracking. MIPS technology is a safety feature that is designed to reduce the risk of rotational brain injuries in the event of a crash.
Some of the key challenges facing the cycling helmet market include:
- High cost of helmets
- Lack of awareness of the benefits of cycling helmets
- Counterfeit products
The high cost of cycling helmets can be a barrier to entry for some consumers. Additionally, there is a lack of awareness of the benefits of cycling helmets in some developing countries. Finally, the market is plagued by counterfeit products, which can undermine the reputation of legitimate brands.
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The cycling helmet market offers a number of opportunities for growth, including:
- Increasing demand for helmets in developing countries
- Growing popularity of cycling as a sport and recreational activity
- Increasing government regulations mandating the use of cycling helmets
The demand for cycling helmets is expected to grow in developing countries, as more and more people are choosing to cycle for transportation and recreation. Additionally, the growing popularity of cycling as a sport and recreational activity is driving demand for cycling helmets. Finally, the increasing number of government regulations mandating the use of cycling helmets is creating new opportunities for market growth.