LONDON--(BUSINESS WIRE)--The global motorcycle airbag jacket market is expected to post a CAGR almost 27% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Countries such as India, China, Taiwan, South Korea, and Mexico are witnessing an increase in the demand for premium motorcycles. In addition, motorcycle OEMs are encouraged to offer airbag jackets as product differentiators. They are doing this to sustain the intense competition in the premium segment of the motorcycle market and gain a competitive edge over their competitors. They are also collaborating with airbag jacket manufacturers to develop sophisticated airbag jackets. Thus, the introduction of these airbags as product differentiators will boost the growth of the motorcycle airbag jacket market during the forecast period.
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As per Technavio, the development of full-body airbags, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Motorcycle Airbag Jacket Market: Development of Full-Body Airbags
The airbag technology is gaining traction in the domain of motorcycles as they are associated with the safety of automobiles. Airbag manufacturers across the globe are focusing on minimizing fatalities from accidents by deploying smart sensor technologies. Furthermore, continuous R&D efforts are being undertaken to test the prospects of long-distance sensors including supersonic sensors. Market players are encouraged to launch full-length airbag suits to protect the riders from injury. Thus, with the increasing development of full-body airbags, the market for motorcycle airbag jacket is expected to showcase a positive outlook during the forecast period.
“Apart from the development of full-body airbags, M2M communication and development of self-contained airbag jackets are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Motorcycle Airbag Jacket Market: Segmentation Analysis
This market research report segments the global motorcycle airbag jacket market by product (airbag vest and airbag jacket) and geography (APAC, Europe, MEA, North America, and South America).
Europe led the market in 2018, followed by North America, APAC, South America, and MEA respectively. During the forecast period, Europe is expected to maintain its dominance over the global market. This is due to the presence of leading airbag jacket manufacturers and their collaborations with motorcycle OEMs.
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Some of the key topics covered in the report include:
- 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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