Over the forecast period, a rise in the number of fatalities related to bicycle accidents is anticipated to fuel market expansion. For instance, the National Highway Traffic Safety Administration (NHTSA), part of the U.S. Department of Transportation, reported in March 2017 that 818 pedalcyclists died in motor vehicle traffic crashes in the U.S. in 2015—an increase from 729 in 2014—and 45,000 suffered injuries. The market for bicycle helmets is therefore anticipated to develop as a result of the rising incidence of injuries and fatalities brought on by cycling accidents. Additionally, major players in the bicycle helmet market are concentrating on providing helmets in eye-catching colours and different designs, which is raising demand for bicycle helmets. For instance, the "Centro LED" cycling helmet from Specialised cycling Components has an integrated LED taillight that improves rider visibility. For added protection, it also has MIPS technology (Multi-Directional Impact Protection System).
Coherent Market Insights estimates that the market for Bicycle Helmets is expected to reach a readjusted value of US$ 1053.6 million by 2029, with a CAGR of 4.4% over the forecast period of 2023–2029, from an estimated value of US$ 754.3 million in 2022.
Major Players in the Bicycle Helmet Industry:
Trek Bicycle Corporation
The company was founded in 1976 and is based in Wisconsin, United States. Trek, Electra Bicycle Company, Bontrager, and Diamant Bikes are trademarks of Trek Bicycle Corporation, a manufacturer and distributor of bicycles and cycling gear. Trek stated that their professional-level Madone would be out in 2021.
Specialized Bicycle Components
The company was founded in 1974 and has its main office in California, USA. The business creates, produces, and sells bicycles, cycling parts, and related goods under the "Specialised" brand as well as the upscale, business-focused "S-works". The London Ambulance Service's Cycle Response Units, which operate in congested areas of the city, will start using a customised version of the Specialised Rockhopper mountain bike in 2023.