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Global Motorcycle Airbag Market to Grow at a CAGR of 21.8% During 2021-2026, Aided by the Growing Concern Regarding Road Safety

According to a new report by EMR titled, ‘Global Motorcycle Airbag Market Report and Forecast 2021-2026’, the global market for motorcycle airbag is expected to grow at a CAGR of 21.8% between 2021 and 2026.

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:

  • The various components of motorcycle airbag available in the industry include crash sensor, airbag module, airbag, airbag ECU, and inflator, among others.
  • On the basis of fabric type, the industry can be divided into nylon, and polyester, among others.
  • Based on coating, the market can be categorised into neoprene coated, silicone coated, and non-coated.
  • The various distribution channels available in the industry include OEM and aftermarket. 
  • Region-wise, the global market for motorcycle airbag can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The market is being driven by the growing awareness regarding road safety and the rising demand for advanced safety features in motorcycles. 
  • The rising disposable incomes and the increasing demand for premium motorcycles are also aiding the industry growth.  
  • The growing cases of road accidents and the favourable government initiatives are further propelling the market growth. 
  • The rapid technological advancements are expected to significantly contribute to the industry growth. 

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for motorcycle airbag for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the components, fabric types, coatings, distribution channels, and major regions of motorcycle airbag.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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