- An increase in the sales of premium motorcycles, especially in the Asia-Pacific region, and the end users’ preference and awareness toward enhanced safety and comfort offered by premium helmets are some of the factors driving the growth of the market.
New York, Jan. 20, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Premium Motorcycle Helmets Market - Growth, Trends, and Forecast (2020 - 2025)" - https://www.reportlinker.com/p06009451/?utm_source=GNW
- The demand for premium motorcycles experienced a significant slump from the motorcycle dealerships, which resulted in a fall in premium motorcycle helmets compared to multi-brand and authorized retailer channels. For instance, Harley-Davidson, a leading premium motorcycle brand, encountered a 4.29% drop in sales, worldwide, in FY 2020 compared to the previous year.
- However, a few factors have helped in throttling the growth of the market, such as rising awareness of enhanced comfort and safety in consumers, the heightened popularity of owning a sports bike, and bespoke modifications in the aftermarket among the millennials, which also boosted the sales of premium helmets.
- Other trends collectively contributing to consistent market growth include the introduction of multi-functional smart helmets, on-going racing events, and the rising number of clubs and communities of bikers acting as a platform.
- A few bottlenecks are decelerating the market, despite the demand for, and awareness about, helmets growing among consumers. These factors are the limited customer base, high initial price, purchasing power of people affected due to world economic slowdown, and the recent COVID-19 outbreak.
Key Market Trends
Safety Regulations Driving The Demand For Premium Helmets
According to the UNECE study on road accidents, motorcyclists are 26 times more likely to die in a traffic crash than drivers of passenger cars. Wearing an appropriate helmet improves their chances of survival by 42% and helps avoid 69% of injuries to riders.
A motorcycle crash may result in head injuries, through either direct contact with hard objects or as a result of excessive acceleration-deceleration. Most traumatic brain concussions is the result of closed head injuries when there is no open wound. The motorcycle helmet is designed to minimize the risks of all kinds of head injuries. Helmet standards and regulations have been developed to test the effectiveness of helmets in providing protection. The motorcycle helmet safety regulators are involved in updating the safety standards for helmet manufacturers so that they are bound to provide the safest helmets to their customers and avoid any head injuries. For instance,
- In April 2019, the government of India announced that there is a need for a superior and safer safety standard of helmets and may soon have another standard for helmets. The new standard of the helmet is expected to cater to the superior quality headgear, which is meant for high-speed riding.
With the factors mentioned above, it is expected that the demand for premium motorcycle helmets may grow during the forecasted period.
Asia-Pacific Expected To Be The Fastest Growing Market
North America is the largest market worldwide because of the continuous rise in motorcycle sales. However, the Asia-Pacific region is poised to be the fastest-growing market during the forecasted period.
- In 2019, approximately 17 million motorcycles had been sold in China. A series of bans and limitations on the use of motorcycles in Chinese urban areas has notably affected sales development. However, in 2019, both production and sales exceeded 15 million for a y/y increase of 1 million or more.
- Motorcycle production in India in FY2019 (April 2019 to March 2020) experienced a y/y decrease of 14.1% to 21.04 million vehicles, and sales also greatly dropped by 17.8% to 17.42 million vehicles. In addition to the slowing economy, new equipment to meet emissions standards has led to an increase in vehicle prices, dulling consumer demand. Since March 2020, businesses have been impacted by COVID-19 and forced to shut down; the market studied is expected to remain in a tough position.
While COVID-19 leaves the future uncertain. However, after the gradual opening of economies and ease in lockdown measures the demand for motorcycles are picking up because of the change in consumer preference, as people are avoiding public transport and the developing nations in the region have been preferring motorcycles over other automobiles.
The major players in the premium motorcycle helmets market are AGV (Subsidiary of Dainese), Shoei Co. Ltd, HJC Helmets, Bell Helmets, Arai Helmet Ltd, and Schuberth GmbH. As the demand is increasing, the companies have been launching new products and investing more in R&D projects for future growth. For instance,
- In 2020, Arai Helmet Ltd showcased their Quantic collection for 2021 which is comfortable for high-speed and long rides. It features a one-piece rear exhaust with spoiler function and also speaker pockets. Arai helmet Ltd announced the plan to get it ECE R22-06 approved.
- In April 2019, Arai launched new open-face helmets, RAM-X. The original product has a VAS-Z shield system, with a lower pivot point that allows the shell to be smoother in the temple area, improving the helmet’s ability to slide more smoothly.
The companies have also been making partnerships to deliver more advanced products. For instance, ARAI Helmets renewed its partnership with American Flat Track for 2019. With this development, the company has allied with AFT for the second consecutive year.
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