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.
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.
The market across the European region covers Italy, France, Germany, and the United Kingdom. Furthermore, the market research report provides details about the APAC region covering markets from China, India, Australia, Japan, and others. The market is also active across several other parts of the world. The market report covers all these key regions including the Middle East, Africa, Brazil, and others active in the global bike helmet market.
Competitive Landscape
Bike helmet has seen tremendous growth, due to the growing sustainability issues and increased purchasing power. However, the high cost of bike helmets and lack of regulations would challenge the companies active in the market. Furthermore, companies using growth strategies to stay ahead in the global market are expected to help the market during the forecast period. As the market report suggests that the market will register a CAGR of 5.35% and reach a US$1.12 billion by 2024, the market report highlights key areas market-based companies need to focus on. The market research report projects a long-term growth till 2024. Based on the market’s analysis on the basis of SWOT and Porters’ Five Force Model, the market will rise during the forecast period, however the companies need to move ahead with caution. The bike helmet market research report highlights such key areas.
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.
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