February 05, 2021
According to the research report titled ‘Global Helmet Market Size study, by Type (Bike Helmets, Sports Helmets, Industrial Helmets, Others) by Application (Transportation, Sport & Recreational Activities, Dangerous Work & Industrial Activities) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global helmet market is expected to record a robust CAGR during 2020-2027.
Escalating road accidents, increasing number of riders, and growing purchasing capacity of individuals are the key factors stimulating global helmet market growth. According to the World Health Organization (WHO) 2019 report, 1.35 million deaths are caused due to road accidents every year. Moreover, road traffic injuries are considered to be the 8th leading reason of death across the globe.
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Booming construction sector and labor related injuries which are at surge are further encouraging the adoption of industrial helmet, facilitating the business scenario. In addition, inclination towards worker safety in various verticals like oil & gas and mining is augmenting global helmet industry share. Besides, mounting establishments of manufacturing facilities in developing economies is creating lucrative prospects for the industry expansion.
Despite the promising growth curve of global helmet market, varying prices of raw materials is anticipated to hamper the business expansion over the forecast timespan.
Based on type, the market is categorized into industrial helmets, sports helmets, bike helmets, and others. With respect to application spectrum, the industry is split into dangerous work & industrial activities, sport & recreational activities, and transportation.
Speaking of the geographical scope, North America currently accounts for a major portion of worldwide helmet market share, creditable to stringent governmental regulations, and increasing cases of road accidents.
On the other hand, Asia Pacific helmet industry is expected to witness tremendous growth through 2027, on account of rapid urbanization, booming population, and rising disposable income.
Major companies influencing worldwide helmet market dynamics are Gateway Safety Inc., Polison Corporation, Radians Inc., Mallcom (India) Ltd., MSA Company, DuPont de Nemours Inc., Hengshui Kai Yuan FRP Products Co., UVEX Safety Group GmbH, Honeywell International Inc., and 3M Company.