Protective Motorbike Riding Gear | Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast,

The protective motorbike riding gear market size is estimated to increase by USD 4,457.03 million and to grow at a CAGR of 5.97% between 2022 and 2027. The growth of the market depends on several factors, including an increasing number of road accidents, a growing focus on innovations, and

Originally published on Technavio:Protective Motorbike Riding Gear Market Analysis across APAC, North America, Europe, South America, and Middle East and Africa - including the US, China, India, Indonesia, and Thailand - Forecasted for 2023-2027
Methodology
Forecast for the Protective Motorbike Riding Gear Market from 2023 to 2027
The estimated growth of the protective motorbike riding gear market is USD 4,457.03 million, with a projected Compound Annual Growth Rate (CAGR) of 5.97% between 2022 and 2027. This growth hinges on several factors, including the rising number of road accidents, increased focus on innovations, and regulatory mandates regarding motorcycle helmet usage.

The report provides a comprehensive analysis of market drivers, trends, challenges, and customer landscapes. Additionally, it includes historical market data from 2017 to 2021.

Market Dynamics: Key Drivers, Trends, Challenges, and Customer Landscape
The significant driver for market growth is the increasing number of road accidents, although fluctuations in raw material prices may hinder growth. Analysis of data from 2022 serves as the baseline year for understanding key drivers, trends, and challenges. A comprehensive understanding of these drivers will assist companies in refining their marketing strategies for a competitive edge.

Primary Market Driver
The market is notably driven by the surge in road accidents. Poor road infrastructure and the escalating number of cars on roads present substantial challenges for motorcyclists, leading to a rise in traffic accidents. These accidents often result in various injuries and disabilities for drivers, sometimes leading to permanent disability. For instance, sudden trauma to the spinal cord from a herniated disc can cause traumatic spinal cord injury. According to the World Health Organization (WHO), approximately 1.35 million people die in road accidents annually, with 20 to 50 million suffering fatal injuries.

Noteworthy Market Trends
The growing popularity of Smart Helmets stands out as a key trend influencing market growth. Advances in smart technology and heightened consumer awareness have amplified the demand for smart products globally, prompting manufacturers to innovate and introduce smart helmets. While slightly pricier than regular helmets, smart helmets offer advanced features and enhanced comfort, driving their demand. Furthermore, helmet manufacturers are integrating wireless technology into their products to ensure compatibility with existing smart devices. Smart helmet features include advanced noise control, ambient audio capabilities, audio multitasking, and built-in speakers and microphones.

Key Market Challenge
Market growth is impeded by fluctuations in raw material prices. Motorcycle gear such as helmets, suits, knee pads, elbow pads, and boots are crafted from various raw materials depending on their intended function. Commonly used materials for helmets include thermoplastic shells, advanced fiberglass shells, Kevlar and carbon composite shells, and various expanded polystyrene (EPS) foams. Protective clothing is typically made from textile or leather. 

Manufacturers also bear transportation costs associated with shipping raw materials to factories, intermediate products to manufacturing sites, and finished products to warehouses and end-users. Transportation expenses include taxes, customs duties, and fuel costs. Increased transportation costs consequently inflate product prices. However, intense market competition prevents vendors from raising final product prices, resulting in narrower profit margins. Such factors are expected to hinder market growth during the forecast period.

Primary Market Customer Landscape
The market research report encompasses the adoption lifecycle of the market, spanning from innovators to laggards. It evaluates adoption rates across different regions based on penetration levels. Furthermore, the report includes key purchase criteria and drivers of price sensitivity to assist companies in evaluating and refining their growth strategies.

Key Market Players
Companies are employing diverse strategies such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches to bolster their market presence.

Alpinestars USA Inc.: Engaged in manufacturing various motorcycle accessories including motorcycling airbag protection, protective motorbike riding gears, among others.
The report also offers detailed analyses of the competitive landscape, featuring information on 15 market players, including.

Fastest-Growing Market Segments
The helmets segment is expected to witness significant market share growth during the forecast period. Helmets dominate the market, serving as the leading product category. Worn by motorcyclists for various purposes including daily commutes, road trips, and sporting activities, helmets come in a wide range of types tailored to different needs and complying with various regional standards. These factors are driving the growth of the helmet segment.

Protective Motorbike Riding Gear Market Size

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The helmets segment, valued at USD 7,441.89 million in 2017, experienced continued growth until 2021. In regions and countries where no laws mandate motorcycle helmet usage, motorcyclists often forego wearing helmets. However, demand for helmets is expected to rise during the forecast period owing to increased awareness of road safety parameters, growing motorcycle popularity, and rising disposable incomes. These factors have also fueled demand for quality, smart helmets, and ongoing innovation.

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APAC is projected to contribute 81% to global market growth during the forecast period. Technavio's analysts have meticulously outlined regional trends and drivers shaping market dynamics.

APAC stands out as one of the most dominant markets globally, with India being a major contributor and representing the largest market.

For more information please contact.

Technavio Research

Jesse Maida

Media & Marketing Executive

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UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/


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