The Total Addressable Market (TAM) for premium motorcycle helmets was valued at USD 795.77 million in 2022. It is projected to reach USD 1,402.60 million by 2031, growing at a CAGR of 6.5% during the forecast period (2023-2031). Motorcycle helmets are safety equipment riders wear to guard against head injuries in the event of an accident. Great-quality materials, including carbon fiber, fiberglass, polymers, and synthetic fibers, are used in premium motorcycle helmets to give high tensile strength and improved security. Comparing these helmets to other conventional helmets reveals they have robust safety criteria. Many motorcycle riders view motorcycle helmets as essential pieces of safety equipment. In order to entice customers to wear a helmet, many motorcycle helmet manufacturers have also developed high-end features. Some manufacturers have helmets that can display GPS maps and the speedometer on the visor using built-in Augmented Reality (AR).
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Head injuries can occur in motorcycle accidents as a result of either direct collision with solid objects or excessive acceleration and deceleration. Most traumatic brain injuries occur in closed head injuries, meaning no visible wound exists. The motorcycle helmet is made to reduce the possibility of suffering any form of head trauma. Standards and guidelines for helmets have been created to measure how well they protect wearers. In order to ensure that manufacturers of motorcycle helmets provide their consumers with the safest helmets possible and prevent any head injuries, motorcycle helmet safety regulators are actively involved in revising the industry's safety standards.
Short-term Drop in Premium Motorcycle Sales
The growing Asian countries of China and India, which are the largest for two-wheelers, had a rise in the sales of high-end motorbikes up until 2018. However, sales saw a slight decline in 2019 as a result of the weakening economy. Due to the global COVID-19 outbreak, this slow growth continued in 2020. Major motorcycle markets, including those in India, China, and Southeast Asian countries, have experienced a significant decline as a result of the implementation of nationwide lockdowns, the closure of production facilities, and the closure of dealerships.
In addition to businesses like Triumph and Harley Davidson, established market players like Yamaha, Kawasaki, Suzuki, and Honda have made many of the most expensive sports cars and race cars available in India. Similarly, premium motorcycle sales are rising in China despite strict controls and prohibiting two-wheelers. Using two-wheelers on city roadways is prohibited by law in several Chinese cities. Despite regulations restricting motorcycle use, sales of two-wheelers have increased. According to statistics, most two-wheelers brought into the nation were high-end motorcycles with engines larger than 800cc.
Growing Interest in Motorbikes and Sports Bikes
Bikes are primarily used for recreational purposes in developed countries, where they are more commonly owned alongside a car. A motorcycle is more frequently used as the primary form of transportation in developing nations. The use of bikes is expanding significantly in the business world as well. Motorcycles are also utilized for meal delivery and e-commerce item delivery.
In addition, as the bike-sharing sector grows, demand for bikes has increased significantly since the lockdown. In the United States, consumers purchased 780,000 motorcycles in 2020, up 67% from 2019. Despite the COVID-19 epidemic, the average cost of two-wheelers was USD 11,894 as of 2021. There are more sportbike owners in the United States than in any other country. Although the pandemic caused losses in India, the largest motorcycle market in the world, it is predicted that sales will increase in 2022. New Road Transport Office (RTO) regulations also stipulate that dealers must include a helmet with every new two-wheeled vehicle they register. Due to the dependence of the helmet business on the motorcycle market, the latter's expansion will fuel the former's expansion.
The global premium motorcycle helmets market is segmented by material type, end-user, and distribution channel.
Based on material type, the global premium motorcycle helmets market is bifurcated into fiberglass, carbon fiber, and plastics.
The fiberglass segment is the major contributor to the market and is expected to grow at a CAGR of 6.90% during the forecast period. Fiberglass composites using Kevlar, organic fibers, aramids, and carbon are frequently used to make fiberglass helmets. The composite material is lighter and more rigid, despite the fact that these materials make the helmet more expensive. Fiberglass helmets have more impact resistance than polycarbonate and are more effective at reducing noise, thanks to their added stiffness and strength. Several premium helmet manufacturers worldwide are introducing the newest models in the segment to draw in more customers and increase market share. For instance, European business NEXX manufactures all its helmets in Portugal. NEXX, sold and promoted by Ride Manila, is one of the more upscale helmet brands available for adventure tourers like the BMW R1250 GS Adventure.
Since carbon fiber is the lightest and most ridged material for helmets, it is the best choice for racing, where low weights and high impact speeds are essential. The more durable casing provides users with excellent safety. Several premium helmet manufacturers worldwide are introducing the newest models in the segment to draw in more customers and increase market share. For instance, KLIM, a US firm that manufactures high-end motorcycle helmets, debuted the F3 Carbon in March 2020 to cater to motorcyclists' desires for a lighter helmet.
Polycarbonate is recommended when manufacturers want to utilize a robust, transparent plastic to add colors and patterns. Three distinct plastic substances—acrylonitrile, butadiene, and styrene—are combined to create Acrylonitrile Butadiene Styrene (ABS). The combination of ABS plastic also makes a great impact-resistant material that is simple to process into different shapes and has an excellent gloss quality. Several premium helmet manufacturers worldwide are introducing the newest models in the segment to draw in more customers and increase market share. For instance, Shark Helmets revealed their redesigned Citycruiser prototype in July 2020. The helmet has an EPS liner, vents on either side of the face shield, an exhaust vent, a drop-down sun visor, and a Microtech helmet liner composed of recycled materials.
Based on end-user, the global premium motorcycle helmets market is bifurcated into commuters and racers.
The commuter segment owns the highest market share and is expected to boost at a CAGR of 4.90% during the forecast period. Motorcycle helmets are essential for all motorists. Carbon fiber and fiberglass motorcycle helmets are the current industry standard. They provide adequate protection and make helmets lightweight, enhancing mobility. As traffic accidents increase globally, commuters are choosing premium helmets because they are safer and more comfortable than traditional motorcycle helmets. The companies that produce helmets keep a careful eye on market trends and consumer preferences since these factors will be used to inform their future business plans for partnerships, collaborations, and helmet technology. For instance, in November 2019, Steelbird Hi-Tech and Blauer HT jointly introduced the Hacker and Solo, two new open-face helmet styles, in India. These helmets have a fiberglass outer shell created using a balloon molding technique.
Sports involving motor vehicles have a long history. However, over the past 20 years, the sport has become more well-known and sparked interest all around the world. Recent years have seen a massive increase in the popularity of motorcycle racing among millennials, particularly women. The popularity of motorcycle racing has substantially raised the demand for safety equipment. These trends and demands are closely watched by the companies that make helmets, who will base their plans on them as they develop helmet technology, alliances, and partnerships. For instance, F4 US and F3 Americas designated Bell Racing Helmets as their official helmet partner in 2020. Through this partnership, the business may provide racing drivers with the most recent advancements in protective helmet technology.
Based on the distribution channel, the global premium motorcycle helmets market is bifurcated online and offline.
The offline segment is the highest contributor to the market and is expected to grow at a CAGR of 7.10% during the forecast period. Governments are acting to enact laws requiring bike riders to wear helmets due to increased incidents involving two-wheelers. In India, the government made buying a new motorbike helmet mandatory before possessing the vehicle. This will make it easier for high-end motorcycle showrooms to offer helmets and other clothing through their stores. Motorcycle businesses are working with helmet makers to introduce their products to gain market share. For instance, Royal Enfield, a well-known motorbike manufacturer in India, distributes its products through motorcycle showrooms, including helmets, jackets, gloves, and other accessories.
The growth of the international e-commerce market has led to a surge in helmets sold over the internet. High-speed internet and smartphone accessibility are anticipated to encourage the use of online stores to buy high-end motorcycle helmets. The businesses are also developing their private websites where customers may purchase authentic goods straight from the manufacturer. A business may offer a wider variety at lower prices if it uses an eCommerce approach because there are fewer overhead costs. Additionally, the company technically has a 24/7 operation. As a result, bikers can conveniently and affordably order the exact helmet they need and have it delivered to their door.
The global premium motorcycle helmets market is divided into four regions, namely North America, Europe, Asia-Pacific, and LAMEA.
North America Dominates the Global Market
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North America is the most significant shareholder in the global premium motorcycle helmets market and is expected to boost at a CAGR of 6.85% during the forecast period. Recent years have seen a significant uptick in demand for motorcycles and all-terrain vehicles (ATVs), which has profoundly impacted the growth of the North American market. Additionally, the expansion of the middle class, particularly in a number of states with rapid economic growth, has positively impacted market expansion, providing several lucrative business opportunities for regional market players. Companies in the helmet industry provide products like half-face, full-face, off-road, and open-face helmet designs. Additionally, the inclusion of Bluetooth in helmets has made it possible for bikers to connect earphones, microphones, and cameras for effective communication and vlogging. As a result, market participants will have access to several lucrative business opportunities in the helmet market over the next few years.
Europe is expected to go up at a CAGR of 6.90% during the forecast period. The region's premium motorcycle helmets market has been expanding due to the rising demand for premium motorcycles, the growing desire for premium helmets' built-in features, such as voice-activated GPS and call-answering capabilities, and the introduction of new cutting-edge models. In addition, it is projected that in the years to come, the market for motorcycle-connected helmets in the region will benefit from the increased customer preference for leisure activities like motorcycle touring.
Regional government initiatives have primarily raised safety standards, which has been advantageous for the helmet industry. For instance, the ECE 22.05 test regime, the European standard for motorcycle helmet safety, recently underwent its first significant update in more than 20 years. The ECE 22.06 standard, which is soon to be released, might be used to stay current with technology and research. Manufacturers, retailers, and distributors may sell products compliant with the previous ECE 22.05 regulation until June 2023, when the ECE 22.06 regulations may go into effect. The sale of helmets, visors, and accessories that do not adhere to the ECE 22.06 regulations will likely become prohibited after June 2023. The primary difference in the new regulations may impact the testing of helmets.
Asia-Pacific is expected to grow significantly over the forecast period. Several restrictions and bans on the usage of motorcycles in Chinese metropolitan areas have significantly impacted sales development. Along with the economy's slowdown, higher vehicle prices brought on by additional technology needed to comply with pollution regulations have lowered consumer demand. In Asia-Pacific, there is still a high demand for the sale of high-end motorcycle helmets due to vehicle driving safety. From the perspective of long-term demand, the region continues to be the most profitable due to its high motorcycle consumer density. In India, the government declared that a better and safer safety standard for helmets is required and that one may be adopted soon. The new helmet standard should accommodate the upgraded headgear designed for high-speed riding.
The global premium motorcycle helmets market's major key players are