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The motorcycle airbag jacket market size is estimated to grow at a CAGR of 14.67% between 2022 and 2027. The market size is forecast to increase by USD 161.75 million. The growth of the market depends on several factors such as the high adoption rate of protective gear, the introduction of airbags as a product differentiator, and the increasing number of road accidents.
This motorcycle airbag jacket market report extensively covers market segmentation by product (airbag vest and airbag jacket), type (cord and cordless), and geography (Europe, North America, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report consists of historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The high adoption rate of protective gear is driving growth in the motorcycle airbag jacket market driver. The introduction of effective safety regulations relating to responsible motorcycle riding was necessary because of the increasing demand for high-performance motorcycles. Transport regulatory authorities across the globe are promoting the use of safety apparel to safeguard against critical injuries in the event of an accident. Airbag jackets are an advanced piece of wearable body armor that, when subjected to collision, is capable of absorbing much of the impact.
Moreover, the drop in its price has promoted the inclusion of Kevlar in safety apparel and an increase in the percentage of Kevlar used in the full-body armor of motorcycle riders. Besides the use of Kevlar to reinforce main areas, like elbows, airbag jackets are also made out of Kevlar for designing their inner shell. The raised level of protection against injury has led to the rising popularity of protective clothing and an increase in the use of advanced protective equipment such as airbags and jackets. Hence, the rising adoption of advanced safety gear is expected to boost the growth of the market during the forecast period.
The growing popularity of long-distance motorcycle trips is a primary trend in the motorcycle airbag jacket market. In the event of an accident or injury, airbags on motorcycles help to protect riders. As a result, with increased awareness and availability, demand for these products is rising. The growth in employment rate, increasing population, and the ease of two-wheeler maneuverability may also contribute to an increase in demand. However, over the past decade, the demand for motorcycles that fall under the cruiser and touring segment has increased, along with that for off-road motorcycles, owing to an increase in adventure tourism activities. This reflects a change in motorcycle owners' preferences.
In addition, people frequently go on long-haul trips using self-driven cars or motorcycles. Consequently, there is an increase in demand for bikes with a high degree of suitability for both daily commuting and weekend cruising. This increase in long-haul travel using motorcycles has fueled the adoption of motorcycle airbags to avoid severe injuries. Thus, these factors are expected to fuel the growth of the global motorcycle airbag jacket market during the forecast period.
Limited customer awareness is a major challenge in the motorcycle airbag jacket market. Due to the high number of specifications, road safety plays a critical role in driving any vehicle and is especially important for premium motorcycles. Enhancing road safety also grows awareness about regulations and necessary safety gear among riders. Most riders are unaware of the range of protective gear available in the market. It is happening in developing economies, where road safety standards are not as strict as those of developed countries, and many riders believe traditional protective devices such as helmets will be the sole means of ensuring a safe ride.
Moreover, the limited reliable information available to consumers about protective motorcycles limits the adoption of protective gear, including airbag jackets, because consumers do not understand the level of safety that protective gear provides. Hence, the lack of such information is expected to impede the growth of the considered market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Motorcycle Airbag Jacket Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Alpinestars USA Inc.: The company offers motorcycle airbag jackets such as Tech Air 5 system which is a slim, and self-contained wearable airbag vest that can be worn under any properly fitting textile jacket.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The airbag vest segment is estimated to witness significant growth during the forecast period. Vests are designed to fit over the torso and offer protection to the front, particularly the chest and back of the rider. But there is no protection for the arms from those vests. The majority of vests have a reinforced interior and a hard abrasion-resistant outer core, which can be worn under a jacket or a shirt, or over a sweatshirt. The incorporation of airbags into vests decreases the chances of injury to the rider in case of an accident.
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The airbag vest segment was the largest segment and was valued at USD 92.01 million in 2017. Some prominent vendors, such as HELITE and Ixon, have been offering technologically advanced airbag vests designed for all-around protection. Additionally, the unit's perfect size indicates that the jacket is learning, collecting data, and optimizing measurements for more personalized protection. Moreover, expanding business prospects in the target market will drive strategic alliances among market vendors to develop superior products. Thus, such factors are expected to fuel the airbag vest segment of the market in focus during the forecast period.
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Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The high production and sales of motorcycles in Western European countries are the key factors supporting to the growth of the concerned market. The region is experiencing a high penetration rate of modern airbags fitted in jackets providing both safety and comfort due to the fact that West European countries are developing markets for motorcycles. Furthermore, the presence of some of the region's leading airbag and jacket manufacturers, including Alpinestars, Dainese, and Bering, has also contributed to the spread of high-performance safety equipment in the region. These major vendors offer tailor-made solutions for the needs of motorcyclists and are constantly updating their products to keep up with market changes. Such factors will drive the growth of the market in this region during the forecast period.
In 2020, the COVID-19 outbreak negatively affected the Europe region, including shutdowns of manufacturing facilities of motorcycles and associated accessories. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which leads to the resumption of motorbike sports activities. The European motorcycle industry grew robustly in 2022. The sales of motorcycles in Europe were steady, with 1.56 million bikes sold at the end of 2022. Steady growth in the sales of motorcycles is expected to grow the demand, which, in turn, is expected to boost the growth of the regional market in focus during the forecast period.
The motorcycle airbag jacket market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Motorcycle Airbag Jacket Market Scope |
|
Report Coverage |
Details |
Page number |
154 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.67% |
Market growth 2023-2027 |
USD 161.75 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
12.14 |
Regional analysis |
Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution |
Europe at 33% |
Key countries |
US, Japan, France, Germany, and the UK |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Access Equip Motos France, AIRVEST, Alpinestars USA Inc., Autoliv Inc., Bering Moto, CLOVER IT Srl, Dainese Spa, Ducati Motor Holding Spa, Furygan, GIMOTO SRL, Helite Moto, Helite Sarl, HIT AIR, Mugen Denko Co. Ltd., PIERER Mobility AG, Point Two Air Vests USA LLC, Polaris Inc., Spidi Sport Srl, The Merlin Partnership Ltd., and Ubuy Co W.L.L |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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