The Global Cycling Helmet Market is estimated to be valued at USD 1,118.7 Million by 2024 and is expected to register a CAGR of 5.35% during the forecast period. Cycling helmets are personal protective equipment for the prevention of head injuries. There are different types of helmets such as road, sports, and MTB helmets, depending on the application.
Europe was the largest market for cycling helmets in 2018 and the regional market is expected to maintain its dominance during the review period. In Europe, the market in Italy is projected to exhibit the highest growth rate of 7.46% during the forecast period. North America held a significant market share and was the second-largest market for cycling helmets in 2018. However, the Asia-Pacific market is projected to register the highest CAGR during the forecast period. Increasing safety concerns regarding the rising instances of road accidents is a key factor for market growth in this region.
Segmental Analysis
The global cycling helmet market has been segmented on the basis of type, application, and region.
By type, the market has been divided into road helmets, sports helmets, and MTB helmets. The road helmets segment accounted for the largest market share in 2018. Stringent regulations mandating the use of helmets in daily transportation in most countries have boosted the growth of the segment. Moreover, regulations for helmet manufacturers to offer lighter and safer products will drive the growth of the segment. However, the sports helmets segment is projected to register the highest CAGR during the forecast period. The growing trend of sports activities, especially in developing countries, is driving the growth of the segment.
Market Players
Market Research Future recognizes Polisport Plásticos SA (Portugal), Vista Outdoor Operations LLC (US), Specialized Bicycle Components (US), Dorel Sports (Canada), Uvex Sports (Germany), Trek Bicycle Corporation (US), MET-Helmets (Italy), Limar Srl (Italy), Orbea (Spain), SCOTT Sports SA. (Switzerland), and KASK S.p.a. (Italy), Merida & Centurion Germany GmbH (Germany), Giant Manufacturing Co., Ltd (China), Amer Sports (Finland), POC Sweden AB (Sweden), Urge Bike Products (France), and LAS helmets (Italy) as the key players in the global cycling helmet market.
Regional Analysis
Geographically, the global cycling helmet market has been segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. As per MRFR analysis, Europe dominated the market, accounting for the largest share, in 2018. However, the market in Asia-Pacific is expected to register the highest CAGR of 5.95% during the assessment period. The North American market accounted for the second-largest market share in 2018. The market in North America is estimated to reach USD 347.1 million by the end of 2024, with the US being the leading country-level market.
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