South Korea Motorcycle Helmet Market Research Report, 2028

South Korea Motorcycle Helmet Market Research Report, 2028

Actual Market Research 31-03-2023 60 Pages Figures : 5 Tables : 11 Region : Asia-Pacific Country : United Arab Emirates Category : Consumer Goods & Services Household Goods

If you purchase this report now and we update it in new 100 days, get it free!

The motorcycle helmet market in South Korea is being driven by several factors, including an increase in the number of motorcycle riders and government regulations mandating the use of helmets. Riders' awareness of the importance of safety equipment is raising demand for high-quality, long-lasting helmets. In the 1980s, the South Korean government began to enact laws requiring motorcycle riders to wear helmets. The government passed legislation in 1983 requiring all motorcycle riders to wear helmets while riding on public roads. The helmets had to meet certain safety standards, including the Korean Industrial Standards (KS) certification, according to the law. Various initiatives to improve the safety standards of motorcycle helmets in South Korea were launched in the years that followed. The Korean government introduced the "Motorcycle Safety Management and Enhancement Plan" in 1993, with the goal of encouraging the use of high-quality helmets and raising public awareness of motorcycle safety. As the number of riders increased in the early 2000s, the motorbike market in South Korea began to expand. To meet the growing demand, domestic and international manufacturers began to introduce a variety of helmets, including full-face, open-face, and modular helmets. According to the research report, “South Korea Motorcycle Helmet Market Research Report, 2028” published by Actual Market Research, the South Korea market was valued at more than USD 110 Million in 2022. In recent years, there has been a growing trend in South Korea towards the development and adoption of smart helmets. To improve rider safety and comfort, smart helmets are outfitted with various technologies, such as communication systems, GPS, and cameras. Due to their higher safety standards, full-face helmets are becoming increasingly popular among motorcycle riders in South Korea. Full-face helmets are also required in many parts of the country, which has contributed to their increasing popularity. South Korean helmet manufacturers are focusing on developing lightweight and aerodynamic helmet designs to give riders a more comfortable and streamlined riding experience. Based on research study the market is segmented into smart and non-smart helmet. During the forecast period the smart helmet is projected to dominate the market of motorcycle helmet market in South Korea. The market is divided into three categories: full face, half face, and off-road racing. The full-face helmet has the highest market share of all. During the forecast period, the full-face helmet is expected to grow in the South Korea helmet market. Full-face helmets are expected to dominate the motorcycle helmet market in South Korea because they provide the highest level of protection and are preferred by many riders for their safety features. By covering the entire head and face, these helmets protect against impact and abrasion in the event of an accident. Furthermore, full-face helmets are preferred by many South Korean motorcyclists due to their aesthetic value. Riders can express their personalities and sense of style while remaining safe on the road by wearing these helmets, which are available in a variety of patterns and colours. The market is divided into two parts based on distribution channel: offline distribution channels and online distribution channels. Currently, the offline distribution channel dominates the market. The online segment is expected to significantly dominate the South Korea helmet market during the forecast period. Customers can shop for and purchase helmets without leaving their homes, eliminating the need to visit a physical store. This is especially beneficial for customers who do not live near a motorcycle or bicycle shop or who have demanding schedules and little time to shop in person. Because they have lower overhead costs and can benefit from economies of scale, online retailers frequently offer lower prices on helmets than brick-and-mortar stores. The market is divided into two categories based on end users: riders and passengers. The rider segment will account for the majority of the helmet market in South Korea during the forecast period. For several reasons, the rider segment is South Korea's most important market for helmets. Motorcycle riding is a popular recreational activity in South Korea as well as a mode of transportation, with millions of riders hitting the road each year. As a result, motorcycle helmets have a sizable market, with many riders looking for high-quality, long-lasting helmets that will keep them safe in the event of an accident. Helmets are required by law for motorcycle riders in many states. One of the key events in South Korea for the development of the motorcycle helmet market is the Busan International Motor Show. This event is held every two years in Busan and is one of the biggest motor shows in Korea. It showcases the latest motorcycles, motorcycle accessories, and safety gear, including helmets. The event attracts manufacturers, distributors, retailers, and consumers from across the country and provides an opportunity for them to interact and share information about the latest trends and products on the market. Another event that promotes motorcycle safety and the use of helmets is the Korea Motorcycle Safety Festival. The festival is organised by the Korea Road Traffic Authority and is held annually in various cities across South Korea. The festival aims to raise awareness about the importance of motorcycle safety and provides a platform for manufacturers and distributors to showcase the latest safety gear, including helmets. The festival features seminars, exhibitions, and safety demonstrations and attracts a large number of riders and enthusiasts. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea Helmet market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Full Face • Half Face • Off Road/ Racing By Distribution Channel: • Offline • Online By End User: • Rider • Passenger The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Motorcycle Helmet industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services