The global bike helmet market will grow at a CAGR of 5.35% during the forecast period. The market for bike helmet is set to reach US$1.12 billion by 2024. As per bike helmet market analysts, the global market is anticipated to witness growth owing to the factors such as the growing demand for safety bike equipment as well as the existence of safety legislation and laws. However, the market will face challenges and restraints due to concerns regarding counterfeit products and an unorganized retail sector during the forecast period.
The increasing number of bikes on the road in the market will support the growth. As per market analysts, the bike helmet market-based companies will face certain challenges during the forecast period. The market research report provides in-depth analysis of the type, application and region segments. The research report presents factors such as the high initial price that could slow down the market's growth.
Market Segmentation
The bike helmet market has been segmented into type, application and region. Based on the segment which is type, the market is categorized on the basis of MTB helmets, sports helmets, and road helmets. The global market for bike helmets is further segmented based on application into everyday travel and sports/adventure.
The market report offers comprehensive study of the segments including type, application and region. The analysts have also studied the market's spread across the regional market at country levels. The type, application and region segments spread across the bike helmet market along with the subsegments are studied. The global market for bike helmet is spread across various product and service based segments. The market research report highlights these key segments and offers forecasts based on primary and secondary data. The global market research report presents key company profiles of organizations active across the market.
Regional Overview
The lack of knowledge of cycling may hinder the market growth. The market research report suggests that companies in the market could be supported by laws relating to helmets as well as the rising trend of cycling as a means of exercise during the forecast period. The market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. As per market analysts, the market is set to witness tremendous growth across type, application and region segments. The global market’s North American region covers markets across the United States, Mexico, Canada, and others. Businesses present in the market are also profiled and their strategies have been presented in detail in the bike helmet market research report.
Industry News
The Belgian helmet brand Lazer Sport NV has been approved by Shimano Europe. On Thursday, the corporations accepted the offer. The acquisition is due to close in the second half of this year, according to Shimano after approval from authorities. Established in 1919, Lazer claims to be the oldest helmet manufacturer in the world. In addition to motorcycle helmets, winter sports helmets are offered, which are available in more than 50 countries. Sean van Waes and Pierre Steenwegen will remain in the Lazer Board of Directors. Lazer owners Shimano said that all workers at Lazer's Antwerp base would remain with the group.
Complete Report Details @ https://www.marketresearchfuture.com/reports/bike-helmet-market-8022
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Comments