Increased demand for greater safety features and excellent product quality among cyclists, as well as government attempts to promote cycling as an alternative means of transportation, are driving global bicycle lights market.
Covid-19 Impact & Market Status
During and after COVID-19, there was a largely beneficial impact on Global Bicycle Lights Market growth is primarily driven by the health, environmental, and economic benefits of cycling, while constraints such as increased bicycle costs with the installation of lights may stymie industry expansion. Mountain riding became more popular as a type of aerobic training as health worries grew as a result of the COVID-19 pandemic, propelling Global Bicycle Lights Market development.
The study highlights and profiles the major types of global bicycle lights by region and by end market. It provides extensive analysis of the market regions included in the report along with their sectoral analysis, important market dynamics, end use markets, economical and technological influence on the sectors, and factors important to influence buying decisions. The report provides this analysis taking into consideration the qualitative and quantitative data including dynamic charts easy to interpret the data. The report highlights the global bicycle lights industry market forecasts from 2022 to 2029 considering the volume and value of the specific region or segment.
The report has included certain chapters in the report that have specifically focused on the sector-wise analysis, trends influencing market growth, drivers, and competitive environment. The products categories, end use markets, and other key segments are included depending upon their contribution to the global global bicycle lights industry value chain. The report summarizes the key region such as Middle East and Africa, South America, APAC, Europe, and North America. This report is extremely useful to raw material suppliers, formulators, financial investors, and other interested participants.
Headlights Segment To Remain Atop In Global Bicycle Lights Market
The global bicycle lights market is classified into front light, tail light, spoke light, frame light on the basis of type. front light currently has the maximum revenue share in the global bicycle lights market, and it is predicted to continue the same way during the analysis period due to the stringent government regulations regarding installation of headlights in bicycles. The front lights help in better visibility especially during night-time and also keep the riders safe from any kind of obstructions. Taillights are also being increasingly used by the riders and the market is growing at a good pace.
Road Bicycles To Be Most Popular Segment Experiencing Demand for Bicycle Lights
Mountain bicycle, road bicycle and commuting bicycle are the different kinds of bikes on which the bicycle lights are installed. Road bicycle currently earns the maximum revenue share in the market, and it is predicted to continue in the same way during the analysis period due to increasing use of bicycle as a mode of transportation. Road bicycles are cheap, pollution free as they do not emit any harmful gases and are also great for maintaining good fitness levels. The stringent government regulations and the increasing awareness of healthy lifestyle among the people is driving the growth of this industry.
LED Lights In High Demand
The rising adoption of LED bicycle lights to improve taillight visibility is boosting global bicycle lights market growth. The capacity of LED cycle lights to be recharged is increasing demand among environmentally aware consumers, which is driving market growth. As the need for lightweight bicycles grows, compact and small LED lights are becoming more popular as a way to increase the production of bikes, which is expected to enhance global bicycle lights market growth.
Asia-Pacific Expected To Dominate
Asia-Pacific has the biggest global bicycle lights market share due to the presence of emerging economies like India, China and the market is predicted to continue growing at a rapid pace due to the increasing demand for various types of bicycles in both urban and rural areas in these countries.
The bicycle lights market in North America and Europe is predicted to significantly increase during the analysis period due to growing consumer awareness of road and trail safety and also the health benefits related to cycling which will appeal to the high percentage of health-conscious people living in those regions.
The rising number of incidents involving bicycle riders on roadways or during night-time hours has been a major element improving the reliance on bicycle lights influencing an upward trend to global bicycle lights market growth.
Owing to benefits such as sufficient visibility to night bicycle riders, increased safety, inexpensive, better performance of cyclist in any situation, easy visibility to approaching and passing-by traffic, better illumination of reflective materials like cat’s eyes and traffic signs, the bicycle lights is experiencing rapid adoption thus fostering remarkable progress in global bicycle lights market.
The global bicycle lights market is predicted to grow from USD 323.1 million in 2021 to USD 614.9 million by 2029 at a Compound Annual Growth Rate (CAGR) of 8.45 percent during the forecast period 2022-2029.
The use of various types of bike lights has increased dramatically as a result of increased awareness of their importance among commuters and cyclists riding on mountain for better visibility. This is one of the major influencers for the growth of global bicycle lights market.
Cycling is becoming more popular among young people all over the world as more people become aware of the health benefits of cycling. As a result, demand for bicycles and, by extension, bicycle accessories such as lighting equipment, is increasing especially among the health-conscious people. Also, the fact that it is cheap and pollution free appeals to the increasing nature lovers.
Bicycle lights are one of the bicycle accessories that ensure the rider's safety and comfort, especially at night. Bicycle lights are necessary equipment, and their installation allows you to ride your bike on a public road at any time of day or night. By illuminating the roads without dazzling other road users, these lights and reflectors assist riders in seeing obstructions. These lights are usually white in colour and reflect enough light to distribute it on the road.
However, the costly expense of these cycles, which are equipped with expensive lights and reflectors, deters some purchasers from acquiring them. Furthermore, growing awareness of health, economic and environmental benefits of bicycle, growing use of bicycle fleet, sports and mountain bike popularity, outdoor activities increasing across the world, increasing cycling championships is anticipated to be growth opportunity for the global bicycle lights market.
The global bicycle lights market has intense competition due to the high demand and consists of several big corporations such as Lezyne, KNOG, Lupine, Augusta Benelux BV, Cataye, NiteRider, Princeton, Goldmore, Trek Bicycle Corporation, Revolights, Cygolite, Kryptonite, and DiNotte among others.
Latest Innovations in the Global Bicycle Lights Market: A Snapshot
- In November 2020, Lezyne introduced a new feature that is an alert braking signal technology to its existing line of rear bicycle lights that, according to the company, will inform motorists and other cyclists that you're slowing down. When deceleration is detected, the alert technology uses accelerometers to produce a full-strength pulse of light followed by a quick flash.
Bicycle Lights Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 614.9 million|
|Growth Rate||CAGR of 8.45 % during 2021-2028|
|Segment Covered||Type, Product , Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Lezyne, KNOG, Lupine, Augusta Benelux BV, Cataye, NiteRider, Princeton, Goldmore, Trek Bicycle Corporation, Revolights, Cygolite, Kryptonite, and DiNotte among others.|
Key Segments of the Global Bicycle Lights Market
Type Overview, 2019-2029 (USD Million)
- Front Light
- Tail Light
- Spoke Light
- Frame Light
Application Overview, 2019-2029 (USD Million)
- Road Bicycle
- Mountain Bicycle
- Hybrid Bicycle
- Folding Bicycle
Product Overview, 2019-2029 (USD Million)
- Battery Operated
- USB Operated
- Dynamo Lights
- Led Lights
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa