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The global motorcycle airbag industry is supported by the rise in the sales of motorcycles and the increasing demand for advanced safety systems such as motorcycle airbag. North America and Europe, together, account for a significant share in the industry and are expected to occupy a leading share of the global motorcycle airbag industry in the forecast period. The growth in the regional markets can be attributed to the increased awareness regarding road safety and stringent government regulations in the regions, coupled with the high consumer spending power. Based on distribution channel, the aftermarket segment is expected to exceed the OEM demand in the forecast period. This can be attributed to the fact that the airbag system, once deployed, would require replacement.
The growing R&D activities by the manufacturers are significantly aiding the growth of the industry. Honda Motor Co Ltd (NYSE: HMC), one of the leading players in the industry, developed the world's first production motorcycle airbag system to help lessen the severity of injuries to the rider in a frontal collision. The company had designed the technology based on an analysis of real-world crash data. Nowadays, manufacturers are focusing on enhancing their in-house capabilities and promoting strategic collaborations. Such developments are expected to positively aid the growth of the industry over the forecast period.
Market Breakup by Component, Fabric Type, Coating, Distribution Channel, and Region:
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The major players in the global motorcycle airbag market are Honda Motor Co., Ltd, Helite Moto, Mugen Denko Co., Ltd., and Dainese S.p.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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