Global Bicycle Lights Market Size (2022-2030) Share, Industry Trends, Growth, Challenges, and Forecast: Custom Market Insights
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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The 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.
The Bicycle Lights Market: Growth Factors
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 Bicycle Lights Market: Key Insights
A) As per the analysis shared by our research analyst, the Bicycle Lights market is estimated to grow annually at a CAGR of around 8.5% over the forecast period (2022-2030).
B) In terms of revenue, the Bicycle Lights market size was valued at around USD 305 Million in 2021 and is projected to reach USD 570 Million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Due to the expanding bicycle sporting culture, the expanding bicycle fleet, and the increasing demand for sports & mountain bikes, rider safety, and protection have come to be of utmost importance.
D) Manufacturers are hoping that local governments will put actual policies into place that will make cities throughout the world more bicycle-friendly and build out complementary infrastructure in urban areas. The bicycle industry is being promoted as a result of cycle tourism.
E) Market leaders, including OEMs and dedicated manufacturers, are projected to focus on offering bicycle lights via the online sale channel and using it to market their products in the local market in five years. The availability of items tailored to consumer needs by manufacturers is increasing competition.
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The Bicycle Lights Market: Regional Landscape
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.
The Bicycle Lights Market: Prominent Players
Cateye Co., Ltd.
Goldmore Co., Ltd.
Smart Bike Light
NiteRider Technical Lighting Systems
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The Bicycle Lights Market: Segments
By Mounting Type
Rear Safety Lights
Side Safety Lights
By Bicycle Type
By Sales Channel
The Bicycle Lights Market: Geography
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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