The global bike helmet market is expected to grow by $325 million between 2022 and 2027, with 30 per cent of the rise coming from Europe, and aided by factors such as pro-cycling government initiatives, increase in road cycling accidents, and increasing demand for customised helmets.by market research company Technavio predicts that the helmet market, on an average, will accelerate on a compound annual rate of 5.
The most notable driving factor of this growth, according to Technavio, is the rise in government initiatives promoting cycling, with the European Union having made integrating cycling into its multimodal transport policy a top priority, and even the US encouraging cycling to reduce traffic congestion in its cities.
Another interesting market driver is the increasing demand for customised cycling helmets, particularly by corporate users, associations, and clubs. While already growing in popularity in Europe and Americas, customised products are also becoming popular in places like China and India. The company studied the market growth of three helmet categories: road, sports, and MTBs, and found that road helmets are likely to occupy almost half the market share, as more and more people use bikes for daily commutes. The report also said the high living standards of those cycling, especially in the UK, France and Italy, drew them to novel products and premium brands’ goods.
However, the report pointed out a concerning trend — that the demand could also be fuelled by the rise in road injuries in recent years.