LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global motorcycle airbag jacket market to grow at a CAGR of over 30% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global motorcycle airbag jacket market for 2017-2021.
Global motorcycle airbag jacket market at a glance
Airbag jacket protects a motorcycle rider by inflation of the jacket during accidents. As it is a part of the bodysuit, it protects against crash on the road, and with a moving object or a stationary object. Sensors installed will monitor and detect the accident to inflate the airbag in the jacket.
The market is expected to experience a steep growth line as the volumes of mid-segment performance motorcycle are expected to rise during the forecast period. The mass volume segment in the two-wheelers dominant countries is expected to lose share to the mid-segment performance motorcycles (350cc & above). This indicates that the number of motorcycle rider enthusiasts are increasing.
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Technavio analysts highlight the following three factors that are contributing to the growth of the global motorcycle airbag jacket market:
- Increasing demand for performance motorcycles
- Airbag concept is a widely accepted safety option in automobiles
- Safety regulations to get more stringent for developed nations
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Increasing demand for performance motorcycles
The emerging economies of the world are facing intense challenges when dealing with two-wheeler driver safety. The motorcycle fleet is growing at a higher rate than the four-wheeled vehicles. The affordability and high connectivity, are factors which are increasing the popularity of motorcycles across the globe. The growing demands for performance and high-performance motorcycles are fueled by the increasing number of motorsport enthusiasts and disposable incomes.
Keerthi Balu, a lead automotive electronics research analyst at Technavio, says, "Factors, such as ill-prepared streets and roads and increasing numbers of young riders whizzing in every direction, are leading to high chances of collisions, especially in countries such as India, Indonesia, and Vietnam. The situation is even grim in countries with low and moderate per capita income as they are facing a tough time meeting the goals of United Nations' Decade of Action on Road Safety."
Airbag concept is a widely accepted safety option in automobiles
The airbag concept has been a part of the automobile on-board safety kit since the inception of safety regulations. The automotive industry recognizes the airbag system as one of the most basic things when it comes to the accidental safety of the occupants. The application of airbag system has penetrated the entry-level models as well.
"Motorcycle airbag jacket is an innovative but a trustable product due to long existence of the airbag system in the automotive industry. With airbag jackets perceived as a product differentiator by the supply side, we expect the adoption rate to improve exponentially among consumers in the initial phase of market expansion. For instance, Ducati has developed its own wireless airbag jacket by partnering with Dainese," adds Keerthi.
Safety regulations to get more stringent for developed nations
The safety of motorcycle commuters is a rising concern across many nations, which include Germany, the UK, France, the US, and Australia. These countries have been pro-active about the safety regulations for motorcycle riding as the sales of motorcycles basically come from the performance category. Highly extensive targets have been set up by authorities for zero fatalities on the road for the motorcycle commuters.
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