Posted On: 2021-06-11
Transportation activities are expected to hold the largest revenue share in Vietnam Helmet Market during the forecast period- 6Wresearch
Vietnam helmet market would witness growth in the coming years owing to the growing inclination towards purchasing e-two wheelers due to budding awareness among people for reducing carbon footprint combined along with government steps and initiatives for shifting from internal combustion engine two-wheeler to EVs by the year 2030 which would lead to rise in number of electric two-wheeler across country. Thus, the demand for several types of helmets such as full-face, half face and open face helmet would augment in the forthcoming years. However, the Vietnam helmet market observed a sharp decline in sales during 2020, on account of closure of several retail shops and stores due to imposition of lockdown by the Vietnamese government on account of pandemic of COVID-19 across the country.
According to 6Wresearch, Vietnam Helmet Market size is projected to grow at CAGR of 6.5% during 2021-2027. Open face helmet would witness noteworthy growth in the forthcoming years owing to the growing number of projects under construction sector from several domains such as hospitality, residential, commercial and healthcare along with rising mining activities as workers on the aforementioned sites prefer to wear such helmets in order to reduce the risk of accident related to falling and flying objects and electrical shocks. Additionally, majority of people in Vietnam driving two-wheelers opt for open face helmets as it provides better visuals of road and adjacent objects.
According to Apoorva Sawhney, Senior Research Analyst, 6Wresearch, “On the basis of application, transportation activities acquired a major share in the overall revenues of Vietnam helmet market during 2020 and same trend is anticipated to persist over the foreseeable future, on account of increasing demand from the end-users who rides two-wheelers which includes electric & non electric motorbikes, scooters and bicycles for conveyance purposes as it is mandatorily done by Vietnamese government to wear helmets. Additionally, increasing working class population and rising traffic problems across country would increase the sales volume of two-wheelers and thus, bolster the demand for helmets across country during the forecast period.”
“Another factor supporting the growth in volume of several helmets is rising number of deaths via road accidents. One of the causes of deaths is wearing quality compromised helmets or no helmet while riding two-wheelers.” Apoorva further added.
Some of the major companies in Vietnam Helmet Market are AN TRAN PRODUCTION INVESTMENT CO. LTD, GIVI S.P.A, MAFA VN Trading Production Co., Ltd, Full Happiness Helmet Co. Ltd, and other such players.
Vietnam Helmet Market (2021-2027) report provides in-depth analysis with more than 21 figures and 6 tables covered in more than 70 pages.” The report estimates and forecast the overall Vietnam Helmet Market by revenues, design types and application. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to device and align their market strategies according to the current and future market dynamics.