Asia Pacific held the Largest Share of the Bicycle Lights Market in 2021
According to Custom Market Insights (CMI), The Global Bicycle Lights Market was estimated at USD 305 million in 2021 and is anticipated to reach around USD 570 million by 2030, growing at a CAGR of roughly 8.5% between 2022 and 2030. Our research report offers a 360-degree view of the Bicycle Lights market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Bicycle Lights market.
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Bicycle Lights Market: Overview
Particularly for adventurous cyclists who love to ride at night, bicycle lights and reflectors are regarded as an essential must. When visibility and light levels are low, bicycle lights are necessary. Mountain biking and adventure cycling are growing sports nowadays, and bike riders increasingly need lights like spoke lights, rear bike lights, front bike lights, straps, and reflectors. The installation and proper placing of lights and reflectors on bicycles are required by a number of legislations around the world.
Browse the full “Bicycle Lights Market Size, Trends and Insights By Mounting Type (Rear Safety Lights, Headlights, Side Safety Lights), By Bicycle Type (Sports, Mountain, Road), By Sales Channel (Online, Offline), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2022–2030″ report at https://www.custommarketinsights.com/report/bicycle-light-market/
Due to changing lifestyles and growing awareness of its health benefits, cycling has gained popularity as a sport and fitness activity in recent years. As a result, a wide variety of technologically advanced bicycles are now available with features like lights and reflectors for the convenience of riders. Due to these advantages, more people are purchasing bicycles since they view them as an affordable and ecologically friendly form of transportation. The rise in the number of working women who are primarily focused on the convenience and health benefits of cycling is another factor that has contributed to the expansion of the market for bicycle lights. However, the price of these cycles, which come equipped with expensive lights and reflectors, occasionally deters purchasers from buying them.
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Cycling enthusiasts’ growing spending on daytime running lights (DRL) with a variety of settings is expected to fuel industry expansion. The creation of cutting-edge solar-powered rechargeable bicycle lights is anticipated to fuel the global bicycle light market expansion. The market for bicycle lights is also expected to develop as a result of increased research efforts to support the deployment of bicycle lights that improve cyclist visibility from a distance in order to reduce accidents. The ability of these bicycle lights to brighten the road while reducing glare for other cars is projected to significantly aid in the market’s expansion in the ensuing years.
The market for Bicycle Lights is segmented into mounting type, bicycle type, and end-user. Based on the mounting type, the rear safety lights dominated the bicycle lights market in 2021. Because they increase bikers’ visibility whether they are riding at night or in dim light, bike rear lights are essential. This enhanced vision may reduce the possibility of being struck by a car.
The market is expanding as a result of the growing appeal of electric and mountain bikes as well as the increased need for battery-powered lights. Self-generating lights are predicted to dominate the global market for bike rear lights over the projection period due to their low cost and ease of installation, as well as the growing popularity of e-bikes and mountain bikes, which require backlighting for safety.
In terms of revenue share among the regional markets, the Asia Pacific market is anticipated to rule the global bicycle light market over the anticipated time frame. Due to rising bicycle sales in the nation, China’s market is anticipated to command a sizeable revenue share of the Asia Pacific bicycle lights market in the near future. The demand for bicycles is also increasing as a result of the region’s expanding population and people’s developing environmental awareness.
|Feature of the Report||Details|
|Market Size in 2021||USD 305 Million|
|Projected Market Size in 2030||USD 570 Million|
|Market Size in 2022||USD 334 Million|
|CAGR Growth Rate||8.5% CAGR|
|Prominent Players||Garmin Ltd., Cateye Co. Ltd., Cygolite, GACIRON, Goldmore Co. Ltd., Knog, Lord Benex, Smart Bike Light, NiteRider Technical Lighting Systems, Schwinn, Blackburn, Serfas, Lezyne, LEDbyLITE, Sense, and Others|
|Key Segment||By Mounting Type, Bicycle Type, Sales Channel, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Bicycle Lights Market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
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- 2022: In order to assist and keep bikers safe, Garmin has introduced a new rearview radar and bike light that provides up to one mile of daytime visibility and alerts drivers as quickly as possible. The Varia RCT715 is equipped with a radar and camera that can capture 1080p video at 30 frames/second. The radar can detect vehicles up to 140 meters away and can alert the user visually and audibly.
Some of the prominent players
- Garmin Ltd.
- Cateye Co., Ltd.
- Goldmore Co., Ltd.
- Lord Benex
- Smart Bike Light
- NiteRider Technical Lighting Systems
The global Bicycle Lights market is segmented as follows:
By Mounting Type
- Rear Safety Lights
- Side Safety Lights
By Bicycle Type
By Sales Channel
On the basis of Geography
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America