July 15, 2020
According to the research report titled ‘Global Premium Motorcycle Helmet Market Size study with COVID-19 impact, by Material Type (Fiber Glass, Carbon Fiber, Plastics), by Distribution Channel (Offline, Online), by End-User (Commuters, Racers) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global premium motorcycle helmet market size accounted for USD 935 million in the year 2019 and is anticipated to showcase a y-o-y growth rate of 6% between 2020 and 2026.
Notably, motorcycle helmets help in protecting riders from head injuries as well as provides face protection during an accident. Premium motorcycle helmets are made using high quality materials such as fiberglass, synthetic fibers and carbon fiber that provide better security and tensile strength. These helmets are also available with features like GPS (global positioning system) and Bluetooth connectivity. The product is lightweight, washable, removable, compact and dissipate sweat faster as compared to budget helmets.
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Technological advancements in helmets in tandem with proliferating sales of premium motorcycles are prime factors fueling the growth of worldwide premium motorcycle helmet market. In fact, according to SIAM (Society of Indian Automobile Manufacturers), the country witnessed a total sale of around 8,264 premium motorcycles in the year 2019, which was a 130% increase from 2018 which recorded sales at 3,585 units.
Strict regulatory scenario regarding the use of motorcycle helmets is also aiding the market expansion. However, the emergence of COVID-19 pandemic has resulted in global economic slowdown and has adversely impacted various industry verticals, especially the automotive sector. Factors such as inconsistent supply of raw materials and inefficient production of helmets owing to the virus outbreak may negatively impact the growth of global premium motorcycle helmet industry. Additionally, high cost and lack of awareness regarding such helmets may also hamper the product demand during the forecast period.
Regionally, Europe premium motorcycle helmet industry is predicted to expand substantially in the subsequent years, primarily driven by flourishing sales of premium motorcycles and rising number of motorcycle permits across the region. On the other hand, Asia-Pacific market is expected to register commendable growth during the study period. Factors such as strict government regulations which promote the use of helmets and rising adoption of premium bikes are swaying the business dynamics in the APAC.
The major companies in global premium motorcycle helmet market are OGK Kabuto Co. Ltd., Nolan Helmets, Bell Helmets, Lazer Helmets, Shark Helmets, HJC Helmets, Arai Helmet Ltd., Schuberth GmbH, Shoei Co. Ltd. and AGV (Dainese) among others.