Increasing Demand from Developing Countries Drives the Global Motorcycle Helmets Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) January 21, 2015 -- Follow us on LinkedIn – Motorcycles fulfill a strong need for convenience, speed, and economy in personal mobility. The past two decades have seen a complete transformation of the motorcycles industry worldwide with demand often beating the market’s expectations. The cultural divide between regional markets has a significant impact on the demand for motorcycles. Often viewed as a mode of recreation in the developed world, motorcycles symbolize a different outlook in developing markets where people look up to them as the primary means of affordable transportation. Head injury represents the primary cause of death among motorcyclists, which makes use of helmets an important safety precaution. Helmets reduce the risk of serious head injuries by limiting the impact of collision to the head. In a bid to curb the growing number of crashes involving motorcycles, governments across the world have legislated strict helmet laws.
Future growth in the market will be driven by expanding world vehicle population and increase in road accidents. While safety regulations have long been in existence, growth in the market is being driven only by the fairly recent trend of making violation of safety norms a punishable offense. Other major factors driving growth in the market include rise in motorcycle ownership, rising awareness over the importance of personal safety, and strict insurance claimant norms. Premium motorcycle helmets are witnessing strong demand, supported by growing preference for luxury motorcycle brands and rise in the number of fashion-conscious riders with high disposable incomes.
Technological advancements in design and material composition are expected to spur market prospects. Introduction of newer materials like carbon fiber, and fiberglass reinforced plastic have rendered helmets more lightweight and convenient to use. Integration of electronics in helmets represents a major technology trend which is currently exemplified by the growing popularity of Bluetooth helmets. Also driving consumer interest is the development of helmets with head-up display (HUD).
As stated by the new market research report on Motorcycle Helmets, Europe represents the largest market worldwide. Growth in the region is supported by the rise in the number of motorcycle permits in several European countries and growing number of “born-again” middle aged bikers. Asia-Pacific ranks as the fastest growing market with a CAGR of 10.2% over the analysis period. Steady economic development, rise in government regulations, burgeoning economies, growing employment opportunities, expanding middle class, increasing consumer affluence and mass exodus of rural inhabitants to urban cities along with rising demand for lightweight street motorcycles as a convenient and affordable personal mobility solution in both urban and rural areas represent key growth drivers in the region.
Key players covered in the report include Arai Helmet Ltd., Bell Helmets, Chih Tong Helmet Co. Ltd., HJC America Inc., LAZER SA, Nolan Group S.p.A, NZI Helmets SA, SHOEI CO. LTD., and Vega Helmet Corporation, among others.
The research report titled “Motorcycle Helmets: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive analysis of trends, growth drivers, market share, market size and demand forecasts, acquisitions and other strategic industry activities. The report provides market estimates and projections for Premium Motorcycle Helmets in US dollars for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific, and Rest of World.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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