Bicycle Light Market 2022
The report published on Bicycle Light Market is a comprehensive analysis that includes the key parameters and indicators critical in understanding the market. The data from the years 2022 to 2030 has been used to present the market status and size. The study also covers the overall market valuation along with the CAGR for the forecast period. The introductory chapter presents an overview of Bicycle Light Market along with the product definition and market scope. The report also analyzes consumer trends regarding the products along with the industry development trends.
Rider safety and protection have emerged to be of paramount importance due to the growing bicycle sporting culture, continuous upsurge in bicycle fleet and rising demand for sports and mountain bicycles. Bicycle lights are expected to emerge as important products in the bicycle accessory market.
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The growth of bicycle industries, owing to heavy traffic and congestion, has led to higher adoption of bicycle accessories, which help in providing safety to the rider and enhance the quality of riding experience. Bicycle accessories are expected to emerge as important components in the growing bicycle industries. Moreover, bicycle lights have been perceiving a surge in demand more recently, owing to growth in the bicycle industry and easy availability of products. Increase in bicycle racing events and bicycle riding organizations has unfolded new opportunities for the growth of the bicycle lights market.
Product Definition & Segmentation
A bicycle light is a bicycle accessories used to ensure the comfort and safety of the rider at night. Bicycle lights and reflectors are necessary installations for a rider to cycle on a public road after dark.
Bicycle lights include front lamps, rear lamps, flashing lights, rear reflectors, pedal reflectors, etc. The market for bicycle light can be segmented on the basis of the following criteria:
|By mounting type:||
|By bicycle type:||
|By sales channel:||
Rising Consumer Health Consciousness
Modern lifestyle and busy schedules force people to work without exercise and merely intake junk food, which in turn results in obesity or overweight. According to the World Health Organization, in 2014, over half of the adult population in 114 nations including Europe, Middle East, and the Americas was obese. Meanwhile, a healthy and more nature-friendly lifestyle is gaining attraction and people are becoming more aware about the hazards caused by obesity across the globe.
Moreover, studies reveal that bicycling burns 500 – 700 calories per hour. Most of these countries have adopted bicycle riding as an effective way for burning fat and maintaining normal body mass. Thus, rising awareness among consumers increases the demand for bicycles, which fuels the growth of the bicycle accessories market over the forecast period. Cyclist have to install bicycle lights to ride bicycle on a public road when dark and this necessity will surge the demand for bicycle lights over the forecast period and create an avenue for market growth.
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Regional Market Outlook
The global bicycle light market is segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. Regional demand dynamics can be directly correlated with the demand for bicycles.
China is expected to remain dominant in terms of sales and demand for bicycle lights, owing to the increasing sales of bicycles. Europe is also expected to witness a high penetration rate, owing to the rising bicycle fleet in the region. North America is expected to grow with a significant CAGR during the forecast period, owing to increasing tourism activities and the several government norms regarding cycling on pubic roads after dark without light in the region. The Middle East & Africa region is anticipated to grow at a significant pace during the forecast period, owing to the high demand for bicycle lights from bicycle users.
Global Bicycle Light Market: Key Players
Key players in the global bicycle light market are:
- Garmin Ltd.
- Cateye Co., Ltd.
- Goldmore Co., Ltd.
- Lord Benex
- Smart Bike Light
- NiteRider Technical Lighting Systems
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