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Global Bicycle Lights Market to Grow at a CAGR of 8.45% During 2022-2027, Aided by the Increasing Use of Bicycles

According to a new report by EMR titled, ‘Global Bicycle Lights Market Report and Forecast 2022-2027’, the global market for bicycle lights attained a value of more than USD 323.1 million in 2021. The industry is further expected to grow at a CAGR of 8.45% in the forecast period of 2022-2027 to reach above USD 522.8 million by 2027.

North America holds a significant share of the bicycle lights industry owing to the increasing use of bicycles in the region. The introduction of various regulations mandating the use of bicycle lights to prevent accidents is significantly contributing to the market growth. As the awareness regarding the high prevalence of health-related issues in the region is surging, consumers are increasingly preferring bicycles for commuting, which is propelling the market for bicycle lights. The increasing development of biking infrastructure in countries like the United States and Canada are also surging the demand for bicycle lights. For instance, in March 2021, the Canadian government announced an investment of $400 million to expand and build networks of pathways, bike lanes, and trails. Meanwhile, the Asia Pacific region is expected to grow robustly in the forecast period due to the increasing trend of cycling in developed regions like China and Japan.

Some of the leading companies in the market are Giant Manufacturing Co. Ltd. (TPE: 9921) and NiteRider Technical Lighting. The latter launched NiteRider Lumina OLED 1200 Boost, an innovative bike light, in 2017. The light features an organic light emitting display (OLED) display screen to show precise battery run time and boost operational efficiency. It also produces a wide stream beam pattern to enhance the visibility of paths. Moreover, it features convenient USB chargers to enable on-the-go charging of the light. The bicycle light meets the FL1 standards and provides excellent dust and water resistance. The development of such innovative products is surging the use of bicycle lights, which is providing impetus to the market growth.

Market Analysis by Type, Application Type, Product, Sales Channel, and Region:

  • The major types of bicycle lights are headlight and taillight.
  • The market, on the basis of application type, can be divided into mountain bicycle, commuting bicycle, and road bicycle.
  • Based on product, the industry can be divided into LED lamps, low-cost battery lights, flashlights, halogen lights, HID lights, and filament lights, among others.
  • The sales channels of bicycle lights include online stores and offline stores.
  • The regional markets for bicycle lights include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The increasing demand for bicycles as a preferred mode of mobility by the growing health and environmentally conscious populations is fuelling the market for bicycle lights.
  • The market is being aided by the rising interest in mountain biking, which is surging the requirement for high-quality and durable bicycle lights.
  • The growing demand for LED bicycle lights to boost the visibility of taillights of bicycles is propelling the market growth.
  • The surging investments in daytime running light (DRL) and the development of innovative rechargeable bicycle lights are driving the growth of the bicycle lights industry.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for bicycle lights for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, application types, products, sales channels, and major regions of bicycle lights.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global bicycle lights 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 comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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