The new report by Expert Market Research titled, ‘Global Bicycle Lights Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global bicycle lights market, assessing the market based on its segments like types, application types, products, sales channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Historical Market Size (2021): USD 323.1 Million
- Forecast CAGR (2022-2027): 8.45%
- Forecast Market Size (2027): USD 522.8 Million
The growth of the bicycle lights industry can be attributed to the increasing use of bicycles as a preferred mode of mobility by the environmental and health-conscious populations, which is surging the deployment of bicycle lights. The growing demand for durable and high-quality bicycle lights for enhanced use is bolstering the market growth. As the interest in mountain biking as a cardio workout is surging, the demand for effective bicycle lights for mountain bikes is increasing, which is propelling the industry growth. Moreover, the enhanced health-consciousness amidst the COVID-19 pandemic surged the inclination towards mountain biking. This, in turn, increased the adoption of bicycle lights to provide optimal lighting for long mountain trails, which has driven the market growth.
Industry Definition and Major Segments
Bicycle lights are lights that are attached to bikes to enhance the safety of the rider. They illuminate the path, bicycle, and the rider, to bolster the overall visibility of the bicycle in the dark. Bicycle lights allow riders to commute easily in dim and dark lighting by illuminating the pathways.
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The market, based on types, is segmented into:
- Headlight
- Taillight
The major application types of bicycle lights are:
- Mountain Bicycle
- Commuting Bicycle
- Road Bicycle
By products, the market is divided into:
- LED Lamps
- Low-cost battery lights
- Flashlights
- Halogen lights
- HID lights
- Filament lights
- Others
On the basis of sales channels, the market is bifurcated into:
- Online Stores
- Offline Stores
The major regional markets of bicycle lights are:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
The market for bicycle lights is being aided by the increasing demand for LED lights to boost the visibility of taillights. As LED bicycle lights are rechargeable, they eliminate the requirement for batteries and boost the cost-effectiveness and are increasingly preferred. This is driving the growth of the market. The growing demand for lightweight bicycles to boost overall output is also increasing the use of LED bicycle lights owing to their compact size, which is bolstering the market growth. Furthermore, the increasing innovations for the development of advanced bicycle lights and the surging investments in daytime running light (DRL) are expected to provide impetus to the industry growth in the forecast period.
Latest News on Bicycle Lights Market: https://www.expertmarketresearch.com/pressrelease/global-bicycle-lights-market
Key Market Players
The major players in the market are Augusta Benelux B.V., CatEye Co., Ltd., Blitzu, Knog Pty Ltd, Lezyne USA Inc., NiteRider Technical Lighting, Serfas Inc., Trek Bicycle Corporation, Topeak Inc., and Giant Manufacturing Co. Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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