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Motorcycle Helmet Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global motorcycle helmets market size was valued at USD 3.3 billion in 2022 and is projected to expand at a CAGR of 4.8% from 2023 to 2030. This can be attributed to the increasing number of two-wheeler riders and stringent government regulations mandating the use of helmets in several countries across the globe. Furthermore, manufacturers are introducing innovative helmets with advanced safety features such as an enhanced field of view, soundproofing technology, and improved ventilation. For instance, in May 2021, Arai Helmets launched a new motorcycle helmet, the RX-7V, with a new ventilation system and improved design.
The full-face helmet segment is expected to dominate the market during the forecast period. This is due to the increasing number of two-wheeler riders and their preference for full-face helmets, which offer the highest level of protection. Furthermore, the rising demand for helmets with enhanced features, such as ventilation, soundproofing, and improved field of view, is driving the growth of this segment.
The offline segment is expected to be the largest distribution channel for motorcycle helmets. This can be attributed to the presence of a large number of physical stores in developing countries. Furthermore, the availability of a wide variety of helmets from different brands in physical stores is driving the growth of this segment.
The Asia Pacific region is expected to dominate the market during the forecast period. This is due to the presence of a large number of two-wheeler riders in the region. Furthermore, stringent government regulations mandating the use of helmets in countries such as India and China are driving the growth of this region. Furthermore, the presence of a large number of helmet manufacturing companies in the region is contributing to the growth of the market.
Product Insights
The full face helmets segment accounted for the highest market share in 2020. These helmets provide protection for the entire head and face, protecting riders from debris and wind. The full face helmets are designed with a chin bar and visor, which shields the riders from the wind and other elements. Moreover, with the increasing number of stringent safety regulations, the demand for full face helmets has increased significantly over the years. According to an article published by the National Highway Traffic Safety Administration, in April 2018, the use of helmets is estimated to be 37% effective in preventing fatalities and 69% effective in preventing brain injuries.
The modular helmets segment is expected to witness the fastest growth rate during the forecast period. Modular helmets are designed to combine the advantages of full face and open face helmets. These helmets can be flipped open, which is a great feature for riders who need to communicate with others while on the road. Furthermore, technological advancements in helmet designs such as Bluetooth integration, noise cancellation, and improved ventilation are some of the key factors driving the growth of the modular helmets segment.
Distribution Channel Insights
The supermarkets and hypermarkets segment accounted for the largest share of the market in 2022. These outlets are the primary source for motorcycle helmet and other related products. Supermarkets & hypermarkets enable customers to physically inspect and purchase the product, which is a key factor for their dominance in the market. Moreover, these outlets provide a wide range of products under one roof and help customers make quick purchasing decisions.
The online segment is expected to expand at the highest CAGR of 12.3% during the forecast period. The increasing shift of customers towards online shopping due to the convenience and better discounts offered by online retailers is expected to drive the growth of the segment. In addition, the increasing number of online stores offering a wide range of motorcycle helmet products is expected to boost the segment growth over the forecast period. For instance, in April 2021, Reevu launched its online store, Reevu.store, in the United States offering its full range of motorcycle helmet products.
Type Insights
The full-face segment held the largest revenue share of more than 60.0% in the year 2022. The growing awareness about road safety and the increasing demand for stylish full-face helmets are the major factors driving the growth of this segment. Most of the full-face helmets have a flip-up chin bar, which can be easily opened with one hand to provide ventilation, convenience, and style. In addition, the growing popularity of motorcycle racing and the need to provide riders with advanced protection are the key factors propelling the growth of this segment.
The open-face segment is anticipated to expand at the highest CAGR of 8.1% over the forecast period. The introduction of colored and lightweight open-face helmets with improved aerodynamics and ventilation is likely to propel the demand for open-face helmets. Moreover, the availability of open-face helmets in various sizes and shapes is also driving their demand. Furthermore, the growing popularity of adventure sports such as motocross and off-road racing is likely to drive the growth of this segment.
Regional Insights
North America dominated the market and accounted for the largest revenue share of over 32.3% in 2022. The region is the most lucrative market for motorcycles, which is the major factor driving the growth of the motorcycle helmet products market in the region. The U.S. is the key contributor to the regional market, followed by Canada. The increasing awareness about safety and stringent government regulations regarding the usage of helmets is expected to drive the growth of the market in the region. For instance, according to the U.S. Department of Transportation, it is compulsory for all motorcyclists to wear helmets in 20 states, including Alabama, California, and Florida.
Asia Pacific is expected to be the fastest-growing region during the forecast period. A large population base, increasing disposable income, and the presence of prominent players, such as Arai Helmet, Shoei, and HJC, are expected to drive the growth of the market in the region. Furthermore, the increasing number of awareness campaigns, such as road safety campaigns, are expected to boost the growth of the market in the region. For instance, in January 2021, the Delhi Traffic Police launched an awareness campaign, titled ‘Helmet on, Life On’, to promote the use of helmets among motorcyclists.
Financial Projections
In this part of the motorcycle helmet products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenue for a motorcycle helmet products business comes from the sale of helmets, accessories, and spare parts. Here you will find a list of other possible sources of income such as sponsorship, advertising, and donations.
Projecting Expenses
In this section, all the regular expenses related to keeping the motorcycle helmet products business running will be described. The list of operating expenses includes wages, rent or lease payments, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the motorcycle helmet market are focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Bell Helmets launched the Qualifier DLX, a full-face motorcycle helmet with an advanced ventilation system.
– In August 2022, Shoei Co., Ltd. launched the Neotec II, a flip-up motorcycle helmet with a noise reduction system.
– In October 2022, HJC Helmets launched the RPHA 11, a lightweight full-face motorcycle helmet with a wind-tunnel tested design.
Some of the prominent players in the motorcycle helmet market include:
– Bell Helmets
– Shoei Co., Ltd.
– HJC Helmets
– Scorpion Sports, Inc.
– AGV Sport Group
– Arai Helmet, Ltd.
– LS2 Helmets
– Shark Helmets
– Schuberth GmbH
– Nolan Helmets
Global Motorcycle Helmet Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global motorcycle helmet products market based on product type, distribution channel, type, and region:
1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)
– Full-Face Helmets
– Modular Helmets
– Open-Face Helmets
– Half Helmets
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Retail Stores
– Online
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Basic
– Premium
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Potential for Growth in the Motorcycle Helmet Market?
[A]: The global motorcycle helmet market is expected to experience significant growth due to the increasing demand from motorcyclists worldwide. The increase in the number of motorcyclists, the popularity of motorcycling as a leisure activity, and the introduction of innovative helmet designs, such as full-face helmets, are the primary factors driving market growth.
[Q]: Who are the Key Players in the Motorcycle Helmet Market?
[A]: Major players in the market include Arai Helmet Ltd., Schuberth GmbH, Nolan Helmets, Scorpion Sports Inc., AGV SpA, and others.
[Q]: What are the Major Distribution Channels for Motorcycle Helmets?
[A]: Motorcycle helmets are primarily distributed through offline retail stores, online stores, and OEMs. Offline stores are the most popular distribution channel for motorcycle helmets, as they enable customers to try out the helmets before making a purchase.
[Q]: What are the Major Trends in the Motorcycle Helmet Market?
[A]: The growing demand for lightweight, aerodynamic, and stylish helmets is a major trend in the motorcycle helmet market. The increasing acceptance of Bluetooth-enabled helmets and the increasing popularity of custom-made helmets are other significant trends in the market.
[Q]: What are the Major Restraints to the Motorcycle Helmet Market?
[A]: The high cost associated with the production of motorcycle helmets, the limited availability of raw materials, stringent government regulations, and the lack of awareness among consumers are the major restraints to the motorcycle helmet market.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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