The global motorcycle airbag jacket market to grow at a CAGR of 5.05% during the period 2016-2020.
Global Motorcycle Airbag Jacket Market 2016-2020, 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.
One trend facilitating market growth is the advent of collar-mounted airbags. Motorcycle airbag jackets may soon come with an integrated collar that could add to the device's aesthetics and may be worn as a fashion accessory by many customers. But in reality, such collars may serve to increase the overall protection quotient of the airbag jacket in terms of functionality.
According to the report, one driver fostering growth in this market is the growing pool of high-performance motorcyclists. The global demand for premium segment motorcycles has seen an upsurge over the past couple of years. APAC boasts high potential for high-performance motorcycles as the countries in this region generate high demand for such kind of motorcycles. APAC is the fastest-growing region in terms of GDP; the standard of living in APAC populations has seen a vast improvement over the last decade. In addition, the increasing willingness to go for premium motorcycles has played a crucial role in the rising demand for premium motorcycles.
Further, the report states that the high purchasing cost of motorcycle airbag jackets will be a major factor hindering growth in this market. Motorcycle airbag jacket is a potential answer to curbing road fatalities, protecting the rider from severe injuries through advanced technology. However, every technology has some challenges associated with it. Although an airbag jacket is a potential life saver, it may not be an affordable product for many segments in the market.