Global bicycle lights Market Insights Forecasts to 2030
The global bicycle lights market size was valued at $290 million in 2021 and is expected to reach $317 million at a CAGR of 8.0% from 2021 to 2030. With the growing popularity of bicycles for use on roads and in sports, bicycle lights are quickly becoming a necessity in the market for bicycle accessories. With the continued growth of bicycle fleets that offer riders safety and improve the quality of the riding experience, rider safety has come to be of utmost importance. The demand for bicycle lights is growing among riders due to the increased construction of cycling infrastructure around the world, which is anticipated to result in enormous revenue generation potential for the main players functioning in the global bicycle lights market over the forecast period.
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The growing popularity of bicycles among those who care about their health and the environment is helping the market for bicycle lighting. The market for bicycle lighting is being driven by the changing urban mobility and the increasing use of environmentally friendly means of transportation. The market is expanding due to the rising demand for sturdy, high-quality bicycle lights.
Due to increased traffic and congestion, the bicycle industry has expanded, which has increased the use of bicycle accessories that improve riding quality and rider safety. It is anticipated that bicycle accessories would become crucial elements in the expanding bicycle industries. Furthermore, due to the expansion of the bicycle business and the accessibility of products, demand for bicycle lights has increased recently. The expansion of bicycle racing competitions and riding associations has created new prospects for the market expansion of bicycle lighting.
People are forced by modern lifestyles and hectic schedules to work without exercise and only consume junk food, which contributes to obesity or overweight. In 114 countries, including those in Europe, the Middle East, and the Americas, more than half of the adult population was obese in 2014, according to the World Health Organization.
In the meantime, people are growing more interested in living a healthy, more environmentally friendly lifestyle and conscious of the dangers that obesity poses to people all over the world. Furthermore, research shows that cycling burns 500–700 calories each hour. Bicycling has gained popularity in the majority of these nations as a healthy approach to maintain normal body mass and burn fat. As a result, growing consumer awareness boosts the demand for bicycles, which drives the market for bicycle accessories to develop throughout the forecast period.
Bicycle lights sales are anticipated to increase during the anticipated period due to rising bicycle use for day trips and sporting events. The demand for bicycles and bicycle lights will increase in the next years due to the rise in bicycle tourism and the usage of bicycles for sports and day trips in leisure time. For instance, in Germany, 460 million leisurely bicycle day trips were conducted in 2020.
Raising Awareness of the Benefits of Cycling The World Health Organization (WHO) predicts that by 2030, there will be 55 million annual deaths due to non-communicable diseases (NCDs). By improving fitness and lowering stress, cycling can lower the risk of developing a variety of health problems. Cycling for roughly an hour in locations with low pollution (PM2.5 levels between 50 and 60 g/m3) has been shown to have considerable health advantages.
Covid 19 Impact
Global Bicycle Lights saw a mostly positive impact both during and after COVID-19. Cycling's advantages in terms of health, the environment, and the economy are what are driving market expansion, while obstacles like rising bicycle prices due to light installation may limit industry growth. As health concerns increased as a result of the COVID-19 epidemic, mountain biking gained popularity as a form of aerobic exercise, spurring the growth of the global bicycle lights market.
Global Bicycle Lights Market Report Coverage
|Market Size in 2021:||$290 Million|
|Forecast Period 2021-2030 CAGR:||8.0%|
|2030 Value Projection:||$317 Million|
|Historical Data for:||2017-2020|
|No. of Pages:||207|
|Tables, Charts & Figures:||117|
|Segments covered:||By Type, By Application, By Product, By Region|
|Companies Covered:||Lezyne, Lupine, KNOG, Cataye, Princeton, Trek Bicycle Corporation, Dinotte Corporation, Lezyne, Garmin, BBB Cycling, Cygolite|
|Pitfalls & Challenges:||Due to the increasing number of COVID-19 cases|
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The global bicycle lights market is segmented into type, application, product, and region.
Global Bicycle Lights Market, By Type
According to type, the market for bicycle lights is segmented into front light, tail light, spoke light, and frame light. Due to the strict government restrictions surrounding the installation of headlights in bicycles, front light now commands the largest revenue share in the global bicycle lights market, and it is anticipated that this will remain the case throughout the analysis period. The front lights improve vision, particularly at night, and protect the riders from any types of hazards. Riders are using taillights more frequently, and the industry is expanding quickly.
Global Bicycle Lights Market, By Application
There are several different types of bikes with bicycle lights mounted, including mountain bikes, road bikes, and commuter bikes. Due to rising bicycle use as a form of transportation, road bicycles now hold the market's largest revenue share and are expected to keep doing so during the analysis period. Road bicycles are reasonably priced, do not contribute to pollution because they do not release any toxic gases, and are also excellent for preserving physical fitness. Government rules that are strict and a growing public awareness of healthy lifestyles are what are fueling the expansion of this industry.
Global Bicycle Lights Market, By Product
The global bicycle lights market is expanding due to the increasing use of LED bicycle lights to increase taillight visibility. Consumer desire for environmentally conscious products is rising as a result of the ability of LED cycle lights to be recharged, which is propelling market expansion. Compact and small LED lights are growing in popularity as a means of increasing bike manufacturing as the need for lightweight bicycles rises, which is anticipated to boost the growth of the global bicycle lights market.
Global Bicycle Lights Market, By Region
Due to the presence of emerging economies like China and India, Asia-Pacific currently holds the largest market share for bicycle lights globally. It is anticipated that this market will continue to expand quickly due to the rising demand for various types of bicycles in both urban and rural areas in these nations.
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The market for bicycle lights in North America and Europe is expected to grow significantly during the analysis period as a result of rising consumer awareness of the importance of road and trail safety as well as the health advantages of cycling, which will appeal to the region's high proportion of health-conscious residents.
Recent Developments in Global Bicycle Lights Market
- November 2020: Lezyne has added a new function to its line of rear bicycle lights that, according to the company, will inform drivers and other cyclists that you are slowing down. This new feature is an alert brake signal technology. The alarm system uses accelerometers to emit a full-strength pulse of light followed by a brief flash when deceleration is detected.
List of Key Market Players
- Trek Bicycle Corporation
- Dinotte Corporation
- BBB Cycling
- Front Light
- Tail Light
- Spoke Light
- Frame Light
- Road Bicycle
- Mountain Bicycle
- Hybrid Bicycle
- Folding Bicycle
- Battery Operated
- USB Operated
- Dynamo Lights
- LED Lights
- North America, by Country
- North America, by Type
- North America, by Application
- North America, by Product
- Europe, by Country
- The Netherlands
- Rest of Europe
- Europe, by Type
- Europe, by Application
- Europe, by Product
- Asia Pacific, by Country
- South Korea
- Rest of Asia Pacific
- Asia Pacific, by Type
- Asia Pacific, by Application
- Asia Pacific, by Product
Middle East & Africa
- Middle East & Africa, by Country
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Middle East & Africa, by Type
- Middle East & Africa, by Application
- Middle East & Africa, by Product
- South America, by Country
- Rest of South America
- South America, by Type
- South America, by Application
- South America, by Product
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