Global Motorcycle Rider Accessories Market 2018-2022| Growing Development of HUD to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--Jun 6, 2018-- analysts forecast the global motorcycle rider accessories market to post a CAGR of more than 5% from 2018-2022, according to their latest market research report.
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Technavio has published a new market research report on the global motorcycle rider accessories market from 2018-2022. (Graphic: Business Wire)
The growing development of HUD in motorcycle helmets is a key trend that is expected to impact the growth of the . The global motorcycle industry is witnessing the development of advanced technologies, most of which fall under the motorcycle advanced driver assistance systems (ADAS). For instance, NUVIZ is a fully integrated helmet technology that displays multiple information that can be customized as per need. The complete device is compatible with Android and iOS devices. This trend is likely to promote market growth during the forecast period.
In this report, Technavio researchers identify the high number of on-road collisions involving motorcyclists as one of the key factors contributing to the growth of the global motorcycle rider accessories market:
Global motorcycle rider accessories market: High number of on-road collisions involving motorcyclists
Reducing the number of on-road collisions is one of the most important challenges for global automakers and government organizations. Off all the on-road collisions, motorcyclists are the most vulnerable. Such concerning statistics on global road safety have fueled the demand for rider accessories such as helmets. Governments across the world have mandated the use of helmets for motorcyclists and pillion riders.
According to a senior analyst at Technavio for automotive research, “The availability of rider accessories can reduce the instances of injury. Motorcycle rider accessories such as protective jackets, vests, gloves, and boots are experiencing high demand from motorcyclists. Motorcyclists are increasingly becoming aware of the uses and benefits of protective gear and accessories which is driving the growth of the market.”
Global motorcycle rider accessories market: Segmentation and analysis
This market research report segments the global motorcycle rider accessories market by product type (helmets, jackets/vests, gloves and others), and key regions (the Americas, APAC, and EMEA).
The helmet segment accounted for the largest share of the market in 2017, owing to helmets being the conventional safety gear mandated by government regulations. The market share of this segment is expected to witness a further increase of more than 2% during the forecast period.
In 2017, APAC dominated the market with a market share of close to 80% and the region is expected to witness a significant increase of more than 3% over the forecast period. APAC was followed by the Americas and EMEA respectively. These two regions are expected to see a decline in their market shares by 2022.
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INDUSTRY KEYWORD: AUTOMOTIVE MOTORCYCLES
SOURCE: Technavio Research
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PUB: 06/06/2018 02:51 PM/DISC: 06/06/2018 05:47 PM