Motorcycle Airbag Vests Market Trends

Growth Drivers

• Increase in Demand for Performance Motorcycles: Most of the countries in the world are facing a challenge of dealing with the safety of two wheelers. The affordability is one of the factors which are increasing the popularity of motorcycles all over the globe. In addition, the increasing incomes and enthusiasm of people towards motorsport is expanding the demand for high performance motorcycles which is anticipated to foster the growth of the motorcycle airbag vests market.
• Airbag as Safety Option in Motorcycles and Development of Full Body Airbags: The technology associated with the airbags is gaining concern in the domain of motorcycles as they are related with the safety of motorcycles. The continuous effort from the research and development department is focusing on minimizing accidents along with the protection of riders from injury by launching full length airbag and deploying smart sensor technologies. Factors, such as increase in the number of young riders and rough prepared roads are leading to high chances of accidents, which propels the safety of motorcycle commuters. Moreover, the airbag system is recognized as one of the most basic things when it comes to the safety of riders in case of accident. These are factors anticipated to drive the market growth.

Challenges

• Lack of Product Awareness: The major factor hampering the growth of the market is the lack of awareness among customers about the product. The motorcycle airbag vests are available in two types: wired airbag vest and wireless airbag vest. Currently, there are only few suppliers of airbag vests in the market and only few of them provide with wireless airbag vests. Additionally, most of the users of motorcycles fall under the category of mid range motorcycles; therefore, they do not find it worth to spend such an amount of their income on airbag vests. Moreover, the price of the airbag vest is the major concern for the customers as the cost of motorcycles and its insurance is already high. Hence, in order to achieve high sales for the airbag vests, suppliers