The head protection equipment market is driven by a growing safety focus in leisure activities, particularly extreme sports and among parents of young cyclists. The Asia Pacific region is expected to be a key contributor to market growth due to its rising population and increasing disposable income. For the competitive landscape and market challenges and detailed insights, download the sample report now.
NEWARK, Del., June 10, 2024 /PRNewswire/ -- According to Future Market Insights, Inc. the global head protection equipment market [https://www.futuremarketinsights.com/reports/head-protection-equipment-market] is set to reach USD 6 billion in 2024. The market is anticipated to witness a CAGR of 3.3% in the assessment period and attain a value of USD 8.4 billion by 2034.
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Increasing number of people engaging in leisure activities across the globe is expected to surge the focus on safety. The growing popularity of extreme sports and adventure travel is set to drive demand for specialized helmets.
Download the Sample PDF report to explore key market insights and trends: https://www.futuremarketinsights.com/reports/sample/rep-gb-19683 [https://www.futuremarketinsights.com/reports/sample/rep-gb-19683]
Through 2034, it is anticipated that the popularity of mountain biking, rock climbing, and white-water rafting will soar, boosting demand for helmets. Sales of head protection devices will probably be propelled by stringent industry standards and regulations.
Growing public awareness of the risks associated with sports-related concussions is another important driver of the sector. The long-term implications of head injuries are becoming more widely recognized among athletes and parents of teenagers.
Rising media coverage and social media campaigns are affecting consumer purchase decisions and behavior in relation to head protection. Innovative hard hats are sought after by soccer and equestrian riding enthusiasts to guard against catastrophic head injuries.
A growing number of people are adopting a preventive approach to healthcare. Millennials are more concerned with adopting preventative methods to prevent serious injuries in the first place. As a result, parents of children learning to ride bikes are becoming more and more in demand for safety helmets. Seniors who are at a higher risk of falling are also expected to use this equipment.
It is projected that through 2034, technological improvements will have a favorable influence on the functionality and design of head protection equipment. Globally, the discipline of materials science is constantly undergoing innovation. It is, hence, expected that the industry will open up new doors for helmet designers to produce better models.
Key Takeaways from the Head Protection Equipment Market Report:
-- The global head protection equipment industry witnessed a CAGR of 5.1%
in the historical period 2019 to 2023.
-- Tie 1 players in the industry, like 3M, Honeywell International, and MSA
Safety Incorporated, hold around 40% of the share.
-- The United States is anticipated to witness a CAGR of 3.6% in the
forecast period.
-- By product type, hard hats are anticipated to dominate the sector by
holding a share of 47% in 2023.
-- In terms of the end-use industry, the construction segment will likely
hold a share of 42% by 2023.
"It is projected that mandatory helmet rules for certain activities, such as motorcycling and cycling, will present new growth prospects for key companies. Government organizations around the world have put in place stringent regulations requiring two-wheeler riders to wear helmets," says Nikhil Kaitwade [https://www.linkedin.com/in/nikhil-kaitwade-a45b7313/] (Associate Vice President at Future Market Insights, Inc.).
Competitive Landscape
Regional companies that are well-established in the rapidly expanding head protection equipment sector are concentrating on broadening their current product lines. To create cutting-edge products, these businesses continually spend on research and development. A few firms are releasing safety goods for kids in addition to adults.
It is anticipated that merger and acquisition activity in the head protection equipment market will open up new growth avenues. Key corporations are working to partner with small-scale manufacturers who have highly skilled labor to co-develop novel materials for helmet production. Further estimates of the sector's potential for geographic expansion and regional growth indicate that this will foster an atmosphere that is advantageous for important businesses.
For instance,
-- Steelbird Baby Toys, an Indian company, introduced new children's
helmets in April 2024 to improve safety when skating and riding. The
company, which is a division of Steelbird Hi-tech India, is concentrated
on broadening its market share in the infant toy sector.Purchase now
[https://www.futuremarketinsights.com/checkout/19683] and gain full
access to the Head Protection Equipment Industry report, featuring
comprehensive Market Forecast, Company Share Analysis, Competition
Intelligence, DROT Analysis, Market Dynamics and Challenges, and
Strategic Growth Initiatives.
Get Detailed Insights into the Head Protection Equipment Market Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global head protection equipment market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the global market potential, growth, and scope, the market is segmented based on product type, end-use industry, and region.
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His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
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