cycling helmet market Insight, Report 2021-2027 - PowerPoint Presentation

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Cycling Helmet Market, By Type, Trend Analysis, Competitive Market Share & Forecast, 2021-2027

Cycling Helmet Market- Industry Trends & Forecast Report

2027

A study recently conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global cycling helmet market reached USD 686.2 million in 2020. The data generated by the study further reveals that the market is further projected to reach USD 833.5 million by 2027 at a CAGR of 2.9% during 2021-2027 (forecast period). The growth of the global cycling helmet market is attributable to the skyrocketing bicycle sales in the world. There has been an upward trend in the cycling industry over the past few years due to increasing concern for the environment, increasing health awareness, and an increase in racing events around the world.

Growth Drivers A growing number of government laws prohibiting bicycle accidentsThe National Highway Traffic Safety Administration (NHTSA) estimates that over 846 people lost their lives while cycling in the year 2019.There are several reasons behind these statistics, including poor bicycle infrastructure, unsafe helmet choices, reckless driving, and a poor choice of helmets

. Governments

around the world have accordingly begun to mandate helmet usage in accident-prone regions, thus pushing helmet demand globally. The bicycle helmet laws vary drastically, from region to region and from age to age. The bicycle helmet market is booming as a result. The global cycling helmet market, therefore, is expected to grow as governments enforce stricter laws.

Restraints Poor bicycle infrastructure in developed and developing countries           With a network of cycling lanes, Europe has proved to be a good cycling destination for aspiring

riders.Nevertheless

, many developing countries with large populations cannot receive such an incentive and rely on public transportation to travel.A few countries, including the U.S. and U.K., may have also offered bike lanes for bicycle individuals,but these roads have now recorded damages, which discourages bicycle riders from choosing this mode of transportation.As a result of these factors, the riders refrain from choosing bicycles over public transportation, thereby impeding the growth of the bicycle market. It is, therefore, negatively contributing to the growth of the global cycling helmet market.

Global Cycling Helmet Market - Impact of COVID-19COVID-19 triggered a global economic crisis.Soon after the WHO declared the COVID-19 a pandemic, the governments of different countries started encouraging the manufacturing companies and producers to shut down their facilities for curbing the spread of the virus. It resulted in disrupted supply chain and trade practices, thereby, negatively impacting the growth of the global cycling helmet market as the manufacturers had to shut their operations for abiding by the laws. As a result of increasing government investments in bicycle infrastructure around the world, bicycle sales have seen an increase over the previous

year.In

this way, it is also contributing to helmet consumption.In addition, the companies have begun distributing their helmets online through online sales channels.

Recent DevelopmentsIn February 2021, POC sports announced the launch of Omne Eternal, the world’s first-ever self-powered helmet equipped with endless energy. The helmet leverages

Powerfoyle

, which is an innovative light-harvesting material for transferring any light source into electrical power. In addition to this, the helmet comes with an automatic self-powered light without charging requirements and an on/off switch. Sample Copy: https://www.blueweaveconsulting.com/report/global-cycling-helmet-market-bwc20216/report-sample

Global Cycling Helmet Market: Regional Insights

Based on region, the global cycling helmet market is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The Asia Pacific region had the highest share in this market due to the growing absolute demand the region

experienced. It is followed by the European region that boasts some of the best cycling environments in the world. The thriving adventure sports industry, accompanied by the presence of key manufacturers operating in the cycling helmet manufacturing in the region has been the driving factor for the growth of the global cycling helmet market. Based on Eurostat data for the year 2020, there are over 73.5 million bicycles in Germany. This indicates that almost 8 in 10 households own a bicycle.

Competitive landscapeThe global cycling helmet market is moderately fragmented in nature due to the presence of several companies operating in the manufacturing of cycling helmets. Some of the major players in the market are Smith Optics Inc., MET Helmets, Trek bicycle corporation, Specialized Bicycle Components, Inc., Vista Outdoor Inc., Oakley Inc., POC sports, August

Bremicker

und Söhne KG, Limar Srl, SCOTT Sports SA, Canyon Bicycles GmbH, KASK s.p.a, Uvex Sports, Dorel Industries, Orbea, Giant Manufacturing Co. Ltd., and other prominent players. The companies are producing helmets at attractive prices to gain a competitive edge over their competitors and capture a higher market share.

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