The bicycle helmet market has experienced substantial growth, increasing from $0.79 billion in 2023 to $0.85 billion in 2024, at a compound annual growth rate (CAGR) of 7%. This expansion is driven by a focus on health and fitness, extensive media coverage on cycling safety, the rise of e-commerce, growing disposable incomes, and a preference for cycling over congested roads. The market is expected to grow to $1.12 billion by 2028, with a CAGR of 7.1%. Future growth will be fueled by increased safety awareness, stringent helmet use regulations, a rising number of cyclists, urban expansion, and modern helmet durability. Trends to watch include innovations in helmet materials and designs, helmets with communication features, personalized designs, cycling infrastructure development, and partnerships with bike manufacturers.
Major Driver In The Bicycle Helmet Market
The growing popularity of cycling is projected to enhance the growth of the bicycle helmet market. Cycling's rise, driven by its health benefits and environmental advantages, is supported by better infrastructure. Helmets are crucial for protecting cyclists from head injuries. In August 2023, the Department for Transport reported high cycle ownership among those aged 40 to 49 and 50 to 59, with 47% of people owning or accessing a pedal cycle in 2020 and 2021. This surge in cycling activity is driving the demand for bicycle helmets.
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Bicycle Helmet Market Competitive Landscape
Trek Bicycle Corporation, Abus Ltd., Uvex Safety Ltd., Specialized Bicycle Components Inc., Smith Optics, Fox Racing Inc., Orbea Sociedad Cooperativa, Leatt Corp., Bell Sports Inc., POC Sports, Liv Cycling, Troy Lee Designs, Schwinn Bikes, Scott Sports SA, Louis Garneau Sports Inc., BBB Cycling, Kali Protectives LLC, Triple 8, Bontrager Ltd., Lazer Helmets, Melon World GmbH, Giro, Bern Unlimited, MET Helmets, Catlike Sport Components
Key Bicycle Helmet Market Trend
Innovations in the bicycle helmet market include the introduction of helmets with built-in cable locks to enhance rider security and convenience. In September 2023, Headlokt, an Australian helmet manufacturer, launched a helmet that incorporates a retractable stainless-steel combination lock. This helmet not only secures bikes, scooters, or skateboards but also includes a compartment for a Bluetooth tracker, meeting international safety standards and ensuring convenience for users.
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Bicycle Helmet Market Segmentation
The bicycle helmet market covered in this report is segmented –
1) By Type: Road Helmets, Sports Helmets, Mountain Bike Helmets
2) By Distribution Channel: Hypermarket And Supermarket, Sports Store, Online Channel, Other Distribution Channels
3) By Application: Sports Or Adventure, Daily Transportation
By Geography:The regions covered in the bicycle helmet market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Europe was the largest region in the bicycle helmet market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Bicycle Helmet Global Market Report 2024 furnishes information about the global bicycle helmet market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
