The global motorcycle airbag jacket market to grow at a CAGR of 30.48% during the period 2017-2021.
Global Motorcycle Airbag Jacket Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
The latest trend gaining momentum in the market is Full-body airbag protection jacket design. The safety airbag technology uses sensors to detect a crash and inflate in milliseconds, protecting the vital bones and organs of the upper body with a layer of cushioning. The concepts for safety have been taken to a very higher level with the introduction of personal safety airbag cocoon. The concept was introduced by i Gel protective systems (Germany based project). It had 20 individual nitrogen-activated airbags to protect the head, torso, and lower body. It was inspired by the hedgehog nature to roll into a protective sphere.
According to the report, one of the major drivers for this market is 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. 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.
Further, the report states that one of the major factors hindering the growth of this market is Customer awareness about the product is low. There are two types of motorcycle airbag jackets available in the market: a wired airbag jacket and a wireless airbag jacket. Presently, the market for motorcycle airbag jacket is highly concentrated with a few major suppliers. Among these, only a couple of vendors provide wireless airbag jackets in the market. The airbag jacket price ranges from around $500 and goes up to $1,500 for the wireless unit. For customers in the market, the cost of an airbag jacket poses concerns due to the generally high cost of any motorcycle and