Global Motorcycle Airbag Jacket Market to Grow by USD 259.85 Million During 2019-2023
LONDON--(BUSINESS WIRE)--May 30, 2019--
Technavio’s latest market research report on the global motorcycle airbag jacket market predicts the market to witness a CAGR of close to 27% during the forecast period. This research report segments the market by product (airbag vest and airbag jacket) and geography (Europe, North America, APAC, South America, and MEA).
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Technavio has published a new market research report on the global motorcycle airbag jacket market from 2019-2023. (Graphic: Business Wire)
Development of full-body airbags to gain prominence
Airbags are associated with the safety of automobiles, due to which airbag technology has proliferated into the domain of motorcycles in recent years. Airbag manufacturers across the globe are deploying smart sensor technologies to minimize fatalities in the case of an accident. Furthermore, continuous R&D efforts are being undertaken to test the prospects of long-distance sensors including supersonic sensors to prevent injury to the rider by sensing a crash before its occurrence. Some of the market players are expected to introduce a full-length airbag suit to protect the riders from injury. As a result, with rising evolution of modern and innovative technologies, the global motorcycle airbag jacket market is anticipated to witness significant growth during the next few years.
Airbag vest product segment will witness the highest share.
The airbag vest segment held the largest motorcycle airbag jacket market share during 2018. This segment will continue to account for the highest share as the integration of airbags in vests helps to significantly reduce the chances of injury to the rider in case of accidents. Vests are often designed to fit over the torso and offer protection to the front, particularly the chest, and back of the rider.
Some vendors in the market are offering technologically advanced airbag vests, particularly, designed for all-round protection. These airbag vests offer superior comfort, mechanical trigger system, rapid inflation time, and reusability. Market players are also focusing on the launch of a smart and universally compatible vest equipped with a series of inflatable protectors capable of safeguarding collarbones, thorax, back, neck, and abdomen. Therefore, the increase in the launch of innovative airbag vests from key market players, will boost growth during the forecast period.
“Several airbag vest manufacturers are engaging in strategic collaborations to develop sophisticated product offerings. These partnerships, seek to enhance the riding experience by developing products based on rider feedback, researching modern technologies, ensuring compliance with the specifications, and thoroughly testing the riding gear. Therefore, the development of advanced products will boost the demand for motorcycle airbag jackets in the forthcoming years,” says a senior research analyst at Technavio
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Motorcycle airbag jacket market to witness fastest adoption in the APAC region.
APAC will witness the fastest market growth during the forecast period due to the increase in disposable income and the growth in the population of affluent younger individuals. There has been a continuous increase in the demand for entry-level and premium motorcycles in emerging economies including Japan, China, India, and South Korea. This is further expected to indirectly contribute to the growth of motorcycle airbag jacket market in the APAC region. Furthermore, the introduction of self-contained airbag jackets and globalization has paved the way for the adoption of several brands into the mainstream motorcycle airbag jacket market.
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Some of the key topics covered in theglobal motorcycle airbag jacket market analysisinclude:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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INDUSTRY KEYWORD: AUTOMOTIVE MOTORCYCLES OTHER AUTOMOTIVE
SOURCE: Technavio Research
Copyright Business Wire 2019.
PUB: 05/30/2019 09:45 AM/DISC: 05/30/2019 09:45 AM