Protective Motorbike Riding Gear Market: Top 3 Drivers by Technavio
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LONDON—Technavio market research analysts forecast the global protective motorbike riding gear market to grow at a CAGR of close to 5% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global protective motorbike riding gear market for 2017-2021. The report also lists men and women as the two end-user segments, of which the protective motorbike riding gear segment for men accounted for the largest share of more than 74%. Both the segments are expected to experience continued growth and retain their positions in the market during the forecast period.
According to Shikha Kaushik, a lead analyst at Technavio for outdoor gear research, “Many vendors have come up with innovative and technologically advanced products to enhance the sales of protective gear used while riding bikes. The use of advanced protective gear offers a higher level of safety and comfort to its user. For instance, helmets play a vital role in rider safety. The upgraded ones include built-in GPS systems and built-in cameras to eliminate blind spots and to show rear views.”
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global protective motorbike riding gear market:
- Increasing number of traffic fatalities
- Stringent government policies and regulations
- Rising popularity of high-performance sport bikes
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Increasing number of traffic fatalities
Road traffic injuries cause considerable economic loss to individuals, their families, and to nations. These losses arise from the cost of treatment and lost productivity for individuals that have a disability caused by injuries. Road traffic injuries and death rates were the highest in Africa in 2016. The number of accidents is not linked with the number of vehicles. Rather, they depend on the discipline of the drivers, safety features of the vehicles, and facilities for pedestrians. Fatalities are primarily caused by non-use of protective gear while driving, driving under the influence of alcohol, and other psychoactive substances.
Male drivers are likely to be more involved in road accidents than female riders, as is evident from the statistics recorded in 2015, where 75% of the victims of road traffic deaths comprised young males under the age of 25. Such statistics make riders more aware of the risk associated with riding bikes, which in turn, increases the sales and growth of protective motorbike riding gear.
Stringent government policies and regulations
The Motorcycle Safety Program recommends that all bike riders must wear protective gear that is designed specifically for motorcycling. Properly designed gear will not only protect the rider in the event of a crash but will also keep a bike rider comfortable in all weather conditions. The Motorcycle Safety Program recommends the use of a high boot with a low heel that has rubber soles. When stopped, these boots offer riders a good grip on the road.
Helmet manufacturers test their helmets and certify their compliance with the federal standard by permanently fixing a dot label on it. Motorcycle operators and passengers must also wear an eye-protective device that follows the Federal Food and Drug Administration (FDA) regulations on impact resistance. Eye-protective gear includes face shields, spectacles, and goggles. Most eyewear sold over the counter complies with the impact resistance regulations of the FDA. These regulations will foster the growth of the global protective motorbike riding gear market.
Rising popularity of high-performance sport bikes
Riding sports bikes is more dangerous than using other two-wheelers. These bikes are more popular in the US, the UK, Germany, France, Canada, Spain, and other developed countries. These sports bikes are built for racing platforms and are modified for use on highways. They are especially popular among riders below 35 years of age. These bikes are quick and agile, but can also cause deadly accidents.
“With their powerful engines and low weight, sports bikes have more horsepower per pound than other bikes. The death rate of drivers riding sports bikes was nearly four times higher than other types of bikes. Therefore, riders of these bikes prefer having all the protective gear while riding. Rising popularity of these high-performance sports bikes will foster the growth of global protective motorbike riding gear market,” says Shikha.
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