The global protective motorbike riding gear market is expected to post a CAGR of over 6% during the period 2018-2022, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global protective motorbike riding gear market from 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the market is product innovation and product line extension leading to premiumization. Vendors operating in the global protective motorbike riding gear market are constantly engaged in research and development (R&D) and innovation, which is attributable to intensifying competition and growing customer demand for innovative products that offer efficient use and high safety features. Customers also look for protective motorbike riding gear equipped with multiple add-on features.
Factors such as the growing unfavorable riding conditions due to a lack of infrastructure and unsuitable traffic conditions for motorbike riding have accelerated the rate of road accidents. To overcome such concerns, manufacturers must use the right combination of superior-quality raw materials, which further leads to product-premiumization. Therefore, factors such as growing product-premiumization and product line-extensions coupled with increasing customer expenditure on motorbike riding gear and accessories (including protective motorbike riding gear) will further strengthen sales in the global protective motorbike riding gear market.
This market research report on the global protective motorbike riding gear market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the growing popularity of smart helmets as one of the key emerging trends in the global protective motorbike riding gear market:
Global protective motorbike riding gear market: Growing popularity of smart helmets
Factors such as advances in smart technology and increasing consumer awareness of the same are driving the demand and preference for smart products worldwide, which has compelled manufacturers in the global protective motorbike riding gear market to innovate and introduce smart helmets. Although smart helmets are priced slightly higher than the regular helmets, the type of features and convenience provided by smart helmets is driving their demand worldwide.
Alternatively, manufacturers of helmets are engaged in incorporating wireless technology in their products to make them compatible with the currently available smart devices worldwide. Some features of smart helmets include advanced noise control, ambient audio capable, audio multitasking, built-in speakers and microphone, and proper padding and ventilation. Additionally, these smart helmets consist of several other aesthetic features for comfortable wear and easy portability. Therefore, the introduction of these smart helmets coupled with the growing preference for connected devices is expected to drive the growth of the global protective motorbike riding gear market during the forecast period.
"Over the years, factors such as growing purchasing power, rising disposable income, and increasing customer spending on motorbike riding gear and accessories have propelled the demand for premium motorbike riding gear and driven the growth of the global protective motorbike riding gear market. Also, the manufacturers of protective motorbike riding gear have been focusing on differentiating their offering from fashion biking products, and therefore, are investing substantially in initiatives to develop innovative raw materials and technologies to enhance the appearance and safety aspects of the products," says a senior analyst at Technavio for research on apparel and textile.
Global protective motorbike riding gear market: Segmentation analysis
This market research report segments the global protective motorbike riding gear market by end-user (male and female), by product (helmets, apparel, and others) and geographical regions (APAC, EMEA, and the Americas).
The APAC region led the market in 2017 with a market share of over 71%, followed by the Americas and EMEA respectively. In 2017, APAC led the market due to factors such as increasing rate of urbanization and rise in disposable income in countries such as China, Japan, and Australia.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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