The market for motorcycle airbags is primarily driven by the increased demand for high-end and powerful motorcycles, rising disposable income, and expanding consumer awareness of motorcycle safety features. The market for motorcycle airbags is anticipated to be driven by the expanding trend of motorcycle customization over the anticipated time frame. Over the projected period, this market's growth is expected to be further fueled by the rise in mid-size motorcycle sales. Furthermore, throughout the years 2021–2031, technological developments in the inflated materials nylon and polyester used to make airbags are anticipated to fuel the market's expansion. Similarly, the market for motorcycle airbags is anticipated to be driven by the rising popularity of electric motorcycles.
Riders who want higher levels of road safety are beginning to understand the significance of motorbike airbags. The popularity of motorcycling has created a demand for cutting-edge safety devices like airbags, which can safeguard against deadly injuries from collisions. Additionally, motorbikes must be equipped with suitable safety measures due to the strict safety rules that have been put on them by governments and regulatory agencies around the world. These factors collectively increased the demand for motorcycle airbags and will continue to do so during the forecast period.
In the case of a collision, the motorbike airbag will deploy to protect passengers from harm. Due to its critical function in improving motorcycle riders' safety, it has grown in popularity among motorcyclists. Motorcycle airbags typically consist of nylon or polyester fabric, as well as a variety of sensors, nitrogen gas emitters, and deployment mechanisms. In addition, motorcycle airbags are typically made to inflate in the event of a rollover, side impact, or head-on accident. It has been demonstrated that motorcycle airbags are a useful rider safety element. It has a number of benefits, including lowering the cost of motorcycle accidents and minimising the severity of injuries and fatalities.
The market for motorcycle airbags is anticipated to reach USD 1,744.1 million by 2031 and expand at a CAGR of 11.1% between 2021 and 2031.
The increased demand for high-end and powerful motorbikes, an increase in disposable income, and expanding consumer awareness of the security features in motorcycles are all factors contributing to the growth of the motorcycle airbag market.
The high cost of these safety measures is the main issue the motorcycle airbag market is facing. Some of the reasons limiting the market's growth include the availability of cheap motorcycles and the rising desire for affordable cars. Additionally, problems with product dependability and durability may in the near future limit this market's potential for growth. Regulations governing requirements for vehicle safety have also played a significant role in limiting the uptake of such devices. But rising public awareness of traffic safety and technological developments should eventually allay these worries and open up new growth prospects for the motorcycle airbag market. In the upcoming years, the market for motorcycle airbags is anticipated to be driven by the rising popularity of electric motorcycles. Additionally, the rising demand for motorcycle helmets is probably going to promote market expansion.
COVID-19 Impact and Market Status
The market for motorcycle airbags has been severely impacted by the COVID-19 outbreak. Because of the worldwide lockdown, fewer cars were produced, which reduced the demand for airbags. This was due to the lockdown imposed by various countries. In spite of this, the market for motorcycle airbags is anticipated to rebound more quickly than that of other automotive parts due to their low cost and growing popularity among motorcycle manufacturers. The market for motorcycling airbags is anticipated to rise between 2021 and 2031 as a result of rising safety awareness among motorcyclists.
The Nylon Type emerged as the Most Lucrative Segment
The motorcycle airbag industry has been categorized depending on materials: nylon and polyester. Due to its superior tensile strength and resistance to tearing, nylon is anticipated to continue to hold a monopoly on the market during the projection period. The rise in customer demand for aftermarket goods is a factor that also supports the market growth for motorcycle airbags.
The Most Prominent Application is the OEM
Markets for OEM and aftermarket motorcycle airbags have been established based on application. Due to manufacturers' increasing use of airbags as safety features in motorcycles, the OEM segment is anticipated to continue being the largest during the forecast period.
The Asia Pacific Region to render Ample Financing Opportunities
From 2021 to 2031, the motorcycle airbag market in the Asia Pacific is expected to grow at the fastest rate in terms of value, thanks to rising consumer awareness of safety features and an increase in the presence of major players there, including ROK International, Honda Motorcycle & Scooter India Pvt. Ltd., Yamaha Motor Co., Ltd., and Hero MotoCorp Limited. A rise in disposable income, particularly in nations like China and India, is an additional factor supporting the region's growth.
FMI Airbags Pvt. Ltd. (India), Takata Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), Daicel Corporation (Japan), Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), and Toyoda Gosei Co., Ltd. are the major competitors in the motorcycle airbag market (Japan). Other significant producers include Honda Motor Co., Ltd. (Japan), S&T Motiv Co., Ltd., and TRW Automotive Holdings Corp. (U.S.) (South Korea). To strengthen their position in the worldwide motorcycle airbag market, these businesses have used a variety of techniques, including product releases, business expansions, agreements, cooperation, acquisitions and mergers collaborations, strategic partnerships, and patents.
Recent Developments in the Motorcycle Airbag Market
• The first motorcycle airbag system was introduced in April 2021 by Autoliv, Inc., a leading provider of automotive safety systems worldwide. An airbag module affixed to the handlebars and a crash sensor is the two parts of the new system. Within 30 milliseconds of the sensor detecting an accident while driving the rider, the airbag module inflates.
• The Gold Wing Tour will now come standard with airbags as part of Honda Motor Co., Ltd.'s safety package, the company stated in January 2021. Honda asserts that this new system will offer riders more protection by lessening the force that is absorbed by their bodies in the event of a collision.
Motorcycle Airbag Market Scope
|Revenue forecast in 2031
|USD 1,744.1 million
|CAGR of 11.1 % during 2021-2031
|by Type, By Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|FMI Airbags Pvt. Ltd. (India), Takata Corporation (Japan), Toyoda Gosei Co., Ltd. (Japan), Daicel Corporation (Japan), Autoliv Inc. (Sweden), ZF Friedrichshafen AG (Germany), and Toyoda Gosei Co., Ltd.
Key Segments of the Global Motorcycle Airbag Market
By Type Overview (USD Million)
By Application Overview (USD Million)
By Regional Overview (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and Africa