Driving Protection Gear Market to Reach $7.7 Billion by 2029
The global sales of driving protection gears roughly equate revenues worth US$ 7.7 Bn, and would remain concentrated in helmets. Prominently driven by the surge in motorcycle sales and increasing driver consciousness about on-road safety, global driving protection gear market will observe a moderate CAGR during 2022 – 2029. While the World Health Organization (WHO) suggests that the correct helmet usage can lead to 42% reduction in fatal injuries and 69% reduction in head injuries, the subsequent amendments in road safety framework and traffic rules contribute a lion’s share to driving protection gear sales. This new study of Future Market Insights (FMI) tracks the growth of global driving protection gear market over the course of following decade.
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Key Takeaways – Global Driving Protection Gear Market
- Europe is expected to lead the global driving protection gear market owing to increasing number of electric mopeds, and higher concentration of high performance motorcycles such as BMW (Germany), Ducati (Italy), Triumph (U.K.), Energican (Italy) etc.
- Helmets account for around a third of the total market value owing to higher adoption rate among two wheeler drivers.
- Gloves and armor would also represent significant market shares throughout the projection period.
- An upsurge in consumer spending was seen in the segment of men within the global driving protection gear market. As per Statistics for American motorcycle riders, female motorcycle owners accounted for a mere 19%, as opposed to male consumers, in 2021.
- While offline sales channel will continue to underpin a majority of sales in the driving protection gear market during the forecast period, online sales channels would see a prolific rise with a higher CAGR in driving protection gear. Preferential shift of consumers towards online platforms are primarily driven by wide product availability and competitive vendor prices.
Increasing Demand for Premium Helmets across Asia Pacific
Premium helmets in driving protection gear category are expensive, featured helmets with in-built advanced technologies. Across Asia Pacific, with a rise in the sales of premium superbikes, there is an increasing trend among consumers to buy brand specific driving protection gear. Brand consciousness has propelled the premium product market forward. Consumers are preferring good quality premium helmets and other driving protection gear.
- For example, in 2021, a Japanese startup Crosshelmet launched its smart helmet (Crosshelmet X1) with premium features such as head up display, rear view camera, touch panel etc.
- Technological advancement in helmets such as Bluetooth connectivity, integrated camera, and in-built navigation are some of the factors that significantly push the driving protection gear market.
Competition Analysis
The global driving protection gear market represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on product development. Some of the key players are Alpinestars S.p.A, Dainese S.p.A, Fox Head Inc., Lemans Corporation, and EVS Sports.
- In December 2018, Dainese S.P.A launched a new AGV AX9 helmet in North America. The company had introduced cheek pads into helmets to protect the face from accidents.
- Dainese S.p.A also integrated anti-bacterial fabric protection along with a removable and washable option to make the helmet safer as compared to its earlier version AX8.
- In 2018, the company Crosshelmet had launched a smart helmet named ‘Cross helmet X1’ with integrated head up display, sound control, rear view camera, safety light, touch panel, smartphone connectivity etc.
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