Global Sales of Helmet Market is Expected to Accelerate at a Whopping 5.6% CAGR, Reaching US$ 42.6 Billion by 2031 - TMR Report
The market statistics are influenced by the rising global incidence of road accidents as well as the popularity of risk-taking sports like biking and skiing
Wilmington, Delaware, United States, Aug. 16, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. - *The global market for helmet was estimated to be worth a market valuation around US$ 24.7 billion in 2022. The market is anticipated to register a steady *5.6% CAGR* from 2023 to 2031 and by 2031, the market is likely to gain US$ 42.6 billion.Construction miners, workers, and other individuals who operate in risky areas all wear helmets. It is crucial to make sure that damaged helmets are replaced following an incident or a fall.
Several nations have put in place safety rules governing the usage of helmets, such as legislation requiring them for some activities. There is now a much greater demand for helmets because it is necessary to buy them in order to abide by the law. This aspect has boosted helmet manufacturing and raised safety requirements.
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*Market Snapshot:*
* Report Coverage* * Details*Market Revenue US$ 24.7 BnEstimated Value US$ 42.6 BnGrowth Rate - CAGR 5.6% Forecast Period 2023-2031No. of Pages 175 PagesMarket Segmentation By Product Type, By Category, By Design, By Gender, By Price, Distribution ChannelRegions Covered North America, Europe, Asia Pacific, Middle East & Africa, South AmericaCompanies Covered BLACK+DECKER, Concord Helmet, Gliders Helmet, LS2 Helmets India, MT HELMETS, Royal Enfield, SMK Helmets, Steelbird Helmets, STUDDS Accessories Ltd., VEGA AUTO ACCESSORIES PVT. LTD.
*Key Findings of Market Report *
· Manufacturers are working to make helmets that feel more cozy, light, and robust.
· Riders are shielded from major injuries by helmets.
· Regular helmet wearing has also been linked to a decline in bike deaths, serious injuries, or death.
· The need for high-quality helmets is being fueled by an increase in safety standards in the construction, mining, and manufacturing industries.
*Market Trends **for** Helmet*
· Potential purchasers are drawn to helmets because of their enhanced safety features. There are several helmets that have airbags, improved shock absorption, as well as better ventilation. These characteristics not only contribute to the helmet more comfortable to wear, but they also lessen the chance that a motorcycle rider may get a brain injury in an accident. They are now an essential element of motorcycle safety gear, and technological advancements are making them increasingly effective in lowering the chance of catastrophic injury.
· Modern helmets are equipped with features like Bluetooth connection and better aerodynamics for bikers. These characteristics have boosted the appeal of helmets to riders, increasing their use and enhancing road safety. They also aid in lowering the amount of fatalities and accidents involving motorcycles. Wearing a helmet might lower the price of receiving medical care for head injuries.
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*Global Helmet Regional Market Outlook*
· During the projected period, Asia Pacific is anticipated to dominate the worldwide market. Three significant reasons that have contributed to the market growth in the area are the increase in motorcycle sales, strict restrictions, and increased awareness of road safety. The demand for helmets in Asia Pacific is being fueled by an increase in disposable income.
· Regional governments are promoting the usage of helmets due to the surge in mortality from traffic accidents. In order to suit the evolving demands of consumers, manufacturers are producing innovative helmet designs. This element is probably going to accelerate market growth for helmets in the area.
· To boost sales, manufacturers are also running campaigns and providing discounts. The region's growing demand for smart helmets is driving market development. Businesses are spending money on research and development to produce goods with superior features that are creative.
· The North American helmet market is expected to grow in the near future due to a growth in the presence of important manufacturers and strict safety laws for motorcycle riders in the region.
*Global Helmet Market: Key Players*
A few number of manufacturers dominate the helmet business, making the worldwide environment fiercely competitive. The most recent helmet market research report shows that businesses are employing creative techniques including R&D, mergers, collaborations, new product development, and acquisitions to increase revenue.
BLACK+DECKER, Concord Helmet, Gliders Helmet, LS2 Helmets India, MT HELMETS, Royal Enfield, SMK Helmets, Steelbird Helmets, STUDDS Accessories Ltd., and VEGA AUTO ACCESSORIES PVT. LTD. are some of the major competitors in the international market. To take advantage of significant income prospects, these firms are adhering to market trends for helmets.
Some developments by the key players in the global market for helmet are:
· Steelbird Helmets teamed up with Transformers: Rise of the Beasts in 2023 and unveiled a new line of helmets featuring Transformers themes. The characters Optimus Prime and Bumblebee from the film series served as inspiration for the distinctive line of headgear.
· NHK Helmets introduced four new helmet styles in 2023, including the polycarbonate-made K5-R, to reach the Indian market. Other variants include the polycarbonate-made GP-R Tech Street, fiberglass-made GP-R Tech Race, and carbon-fiber-made GP-R Tech Race.
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*Global Helmet Market Segmentation *
· *Product Type*
· Sports
· Bike Helmet
· Snowsport Helmet
· Equestrian Helmet
· Hockey Helmet
· Mountaineering Helmet
· Others
· Moto
· Road Bike Helmet
· MX Helmet
· Others
· Safety
· Industrial Helmet
· Military Helmet
· Police and Fire Squad Helmet
· Others
· *By Category*
· Conventional Helmet
· Smart Helmet
· *By Design*
· Full Face Helmet
· Open Face Helmet
· Half Helmet
· *By Gender*
· Male
· Female
· *By Price*
· Low
· Medium
· High
· *Distribution Channel*
· Online
· Company-owned Websites
· E-commerce Websites
· Offline
· Specialty Stores
· Large Format Stores
· Independent Retailers
· *By Region*
· North America
· Latin America
· Europe
· Asia Pacific
· Middle East & Africa*About Transparency Market Research*
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
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