Vietnam Helmet Market report comprehensively covers the market by design type and application. The report provides an unbiased and detailed analysis of the ongoing trends, opportunities/ high growth areas, market drivers, which would help stakeholders to devise and align their market strategies according to the current and future market dynamics.
Vietnam Helmet Market Synopsis
Vietnam Helmet Market is anticipated to witness considerable growth in the forecast period on account of the growing construction sector which includes the development of new hotels & shopping malls and other infrastructure projects combined with a rising inclination towards purchasing e- two-wheelers for transportation purposes across the country.
However, on account of the pandemic spread of COVID-19 during 2020, the helmet market was impacted badly due to the lockdown imposed by the Vietnamese government across the country which in turn, made several retail shops and stores inoperable, thus declining the sales of helmets in the same period. Further, the other reason for the dip in sale volume was low sales of 2-wheelers i.e., motorbikes and scooters across the country which is the biggest consumer of the helmet market. Moreover, with the resumption of economic activities and work such as mining & quarrying, construction, manufacturing along with upliftment of restrictions and liberalizing rules on the movement of people, the demand for several types of helmets such as the full face, half face, and open-face would regain traction from 2021 onwards
According to 6Wresearch, Vietnam Helmet Market size is projected to grow at CAGR of 4.5% during 2021-27. Motorcycle Helmet Market is anticipated to gain growth in the coming future. Consumers are increasingly becoming aware of the enhanced comfort and safety provided by premium motorcycle helmets, which is providing a boost to their sales. Furthermore, there is rising popularity of sports bikes among the youth along with the availability of wide customization options in the products. Moreover, the increasing number of bike commuters coupled with the rising trend of bike racing and superbikes is also contributing to the market growth. Racing events and various clubs and communities of biker’s act as a platform for bike enthusiasts to showcase their riding skills and represent the fraternity by focusing on ethical riding and road safety. This is anticipated to offer lucrative opportunities to the potential investors of the product market to gain growth potential in the coming time zone.
Market Analysis by Design Type
Based on design type, in 2020, open face helmets occupied the maximum share in market revenues in 2020 owing to high preference from the notable percentage of the population as they are highly price-sensitive consumers coupled with wider application areas i.e., they are being used in several domains such as construction, mining, quarrying, manufacturing, and other such segments. However, half-face helmets would witness considerable growth in the forthcoming years on account of the rising number of deaths in road accidents, and the latter design type of helmet provided better safety to riders riding such two-wheelers from fatal injuries to head and neck. Additionally, half-face helmets are less expensive than full-face helmets, perhaps, preferred by the working-class riders.
Market Analysis by Application
On the basis of application, the transportation activities garnered the maximum share in revenues during 2020 on the back of strict government norms, regulations, and guidelines on mandatory helmet wearing, initiatives implemented and campaigns conducted via government and non-government aided NGO(s) on the variable interval of time along with rising demand for two-wheelers such as scooters & motorbikes and bicycles, the aforementioned domain would witness considerable growth in augmenting the demand for helmets in the near future. Further, the demand for helmets would augment dangerous activities as the construction sector is anticipated to show positive results in the value and volume of projects along with increasing mining and quarrying activities across Vietnam.
Key Highlights of the Report:
- COVID-19 Impact on the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2017 to 2020.
- Base Year: 2020
- Forecast Data until 2027.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Vietnam Helmet Market Overview
- Vietnam Helmet Market Outlook
- Vietnam Helmet Market Forecast
- Historical Data and Forecast of Vietnam Helmet Market Revenues & Volume for the Period 2017-2027F
- Historical Data and Forecast of Vietnam Helmet Market Revenues & Volume By Design Types, for the Period 2017-2027F
- Historical Data and Forecast of Vietnam Helmet Market Revenues By Application for the Period 2017-2027F
- Market Drivers
- Market Restraints
- Market Trends
- Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Market Player’s Revenue Shares/Ranking
- Market Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereport provides a detailed analysis of the following market segments:
By Product
- Motorcycle Helmets
- Bicycle Helmets
- Other Helmets
By Applications
- Transportation
- Sport
- Dangerous Work Activities
