LONDON--(BUSINESS WIRE)--The global premium motorcycle helmets market size is expected to grow by USD 420.22 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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The increasing sales of ultra-luxury motorcycles in emerging markets will drive the growth of the market during the forecast period. Ultra-luxury motorcycles are witnessing an increase in demand due to growing awareness about the rich riding experience provided by them. These motorcycles are more powerful and efficient than conventional motorcycles. As a result, these are increasingly being preferred by motorcycle enthusiasts. The growing interest among motorcyclists in long-distance tours is also pushing the adoption of ultra-luxury motorcycles, as these motorcycles provide enhanced safety and comfort during long trips. This is also stimulating the demand for premium motorcycle helmets, as these helmets add to the safety and luxury quotient of these ultra-luxury motorcycles.
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As per Technavio, the growing adoption of connected helmets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Premium Motorcycle Helmets Market: Growing Adoption of Connected Helmets
The demand for premium and mid-premium motorcycles is increasing worldwide because of the enhanced riding experience and safety benefits provided by them. Just like the automotive market, the global motorcycle market is also witnessing rapid electrification and adoption of advanced technologies. The integration of advanced electronic components has added to the efficiency of motorcycles and has led to the adoption of infotainment systems in motorcycles. Connected helmet, a type of premium motorcycle helmet, is considered a part of the motorcycle infotainment system, as it can be used as an audio device for entertainment purposes and as an intercom to connect with other riders. Thus, the popularity of connected helmets is expected to increase, thereby driving the growth of the market.
“Other factors such as government regulations on the use of motorcycle helmets, and the increasing penetration of heavyweight motorcycles will have a significant impact on the growth of the premium motorcycle helmets market value during the forecast period,” says a senior analyst at Technavio.
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Premium Motorcycle Helmets Market: Segmentation Analysis
This market research report segments the premium motorcycle helmets market by technology (conventional premium helmets and smart helmets) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the premium motorcycle helmets market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the high market penetration of performance and sports motorcycles in the US and Canada.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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