Increased adoption of bicycle safety gear has been observed in recent past due to accidental injuries across the globe. Growing safety concern has been raising among riders in past years. Urban bike accidents are increasing globally, especially in developed economies such as U.S., Europe.
It has been observed that urban bicycle accidents are tend to happen more frequently and causes more serious injuries however the number of accidents are declining. In U.S., 70% of all bike accidents happen in city area. The accidents are less in suburban and rural area due to less traffic and better flexibility to install bicycles safety features.
As per an independent study, overall number of bicycle accidents in U.S. has declined but fatal bike accidents are rising. In 2015, 45,000 bicycle accidents were recorded in U.S., which was down by 5,000 from the previous year. However, a sharp 12% increase in fatal accidents have also recorded the same year which again highlights the necessity of bicycle safety gear.
Growing urbanization, increasing traffic jam, and growing accessibility of bicycles are the primary factors that drive the bicycle safety gear market forward. As population is shifting towards the urban area, the modern transportation system gets strained day by day.
For city dwellers, using bicycle is an easy way to commute smaller distances such as offices, market etc. In big cities, stuck in a traffic jam is very common now a days.
To avoid it, people started using bicycle along with bicycle safety gear in cities for daily commuting but is limited to primarily in developed nations. To encourage the usage of bicycle, it needs infrastructure such as easy accessibility of bicycles, road ways, bicycle parking, maintenance shop etc.
All these factors encourage the usage of bicycles in a country. Moreover, people have started using bicycles also for touring purposes which in result, drives the demand for bicycle safety gear products such as helmets, gloves, pads etc. Growing rider’s awareness about road safety has pushed the bicycle safety gear market for further sales.
Using bicycle to lose weight has been seen as a recent trend in recent past. Rising bicycle helps to burn 600 calories an hour of cycling.
The growing health consciousness has encouraged consumers to ride bicycles along with all bicycle safety gear. In Netherlands, 27% of all journey are made by bicycles. In cities, the riders are in much bigger number in the country.
In Netherlands, employers also encourage employees for usage of bicycles as bicycle riders are fit and less prone to illness which reduces the number of sick employees in a company. Moreover, the Dutch government is encouraging the employers to pay allowances to cyclist employees to avoid the road congestion in the country.
Government’s policy or initiative to promote bicycles will boost the sale of bicycle safety gears as it helps to avoid serious injuries caused by an accident.
All these factors drive the bicycle safety gear product and create demand among riders. Additionally, using bicycles is environment friendly and bicycles do not pollute the environment which again act as a driver for the industry. The most common and preferred bicycle safety gear is helmet as most of the bike crash head injuries leads to critical condition or death of the rider.
In U.S., almost 800 bicyclist killed each year and 500,000 riders get admitted into hospital emergency. About two third of the deaths and one third of the injuries are related to head and face. Using bicycle safety gear can reduce the risk of head injury by 85%.
The bicycle safety gear is primarily driven by increasing sales of bicycles, rider’s growing awareness about bike injuries, and growing urbanization.
The growing sales of bicycle safety gear majorly contributed in developed regions such as North America, Europe. Growing urbanization and adoption of bicycles as a mode of transport are the primary reason to uplift the bicycle safety gear market.
North America and Europe are accounted to hold the major chunk of bicycle safety gear market while Asia Pacific is expected to expand the bicycle safety gear market at a higher CAGR compared to other regions.
In bicycle safety gear market, Europe is accounted for highest value share in 2019, while East Asia has registered a high growth during the forecast, 2020-2030.
Growing sales of bicycles in European countries has led the Europe bicycle safety gear market to a new height. France, Italy, Germany, and the UK are considered to contribute a significant share in the European bicycle safety gear market.
East Asia market is primarily driven by China and Japan owing to the high sales of bicycles in the respective countries. China is considered as the major country to drive the Asia Pacific sales of bicycles which in result drives the bicycle safety gear.
South Asia is also expected to hold a significant share in the global bicycle safety gear market. The Middle East & Africa (MEA) and Oceania bicycle safety gear market is expected to grow with a modest growth rate during the forecast.
The global bicycle safety gear represents a fairly consolidated competition landscape, where a majority of key players maintain their strategic focus on bicycle safety gear innovation and new product development. Some of the key players in bicycle safety gear are
The bicycle safety gear is segmented into different categories based on the product type, material type, price, consumer group, sales channel and region.
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Bicycle Safety Gear Market
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