Bicycle Light Market to Surpass 2,454.7 Million by year 2032 | Future Market Insights, Inc.

Over the forecast period of 2022 to 2032, the global bicycle light market is projected to grow at a CAGR of 7.1%. The market is anticipated to reach a valuation of over US$ 2,454.7 Million by 2032, opines Future Market Insights (FMI).

The market for bicycle lights is set to be boosted by the increasing popularity of bicycles among people who are concerned about their health and the environment. Bicycle adoption is rising along with the urgent need for more environmentally friendly means of transportation, which is driving the market for bicycle lights. The market is also expanding due to the rising demand for robust and high-quality bicycle lights.

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Due to the rising demand for safety and security, it is anticipated that the bicycle lights market would expand significantly in the next ten years. Bicycle adoption is also on the rise in many parts of the world as a result of expanding transportation needs.

The use of various types of bike lights has been progressively rising due to growing awareness of their importance among cyclists who use them for commuting, as well as those who ride on mountain trails where these lights are vital for visibility. Growth rates would be further influenced by increasing urban population and high levels of disposable income during the projection period.

Key Takeaways from the Bicycle Light Market Study

By mounting type, headlights are estimated to account for more than 65.7% of the global bicycle light market share by the end of 2032.
Based on bicycle type, the e-bicycle segment is projected to hold more than 72% of the global bicycle light market share by 2032.
By sales channel, the OEM segment is expected to create an absolute dollar opportunity of US$ 1,115 Mn during the forecast period.
Over the forecast period, the bicycle light market in the U.S. is projected to create an incremental opportunity of nearly US$ 14.4 Mn.
By the end of 2032, East Asia is set to generate the largest bicycle light market share of around 57.2%.

"Owing to changing lifestyles and growing knowledge of health benefits, cycling has gained immense popularity as a sport & exercise activity in recent years. As a result, there are nowadays many technically advanced bicycles available with features like lights and reflectors for the convenience of riders," says a Future Market Insights analyst.

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Competition Landscape: Bicycle Light Market

Garmin Ltd., Cygolite, Cateye Co., Ltd., GACIRON, Goldmore Co., Ltd., Lord Benex, Knog, Smart Bike Light, NiteRider Technical Lighting Systems, Blackburn, Schwinn, Serfas, Lezyne, Sense., and LEDbyLIT are some of the leading companies present in the global bicycle light market.

Key manufacturers are focusing on increasing their regional presence and are engaging in distributing their in-house products in local markets by expanding their dealer networks. Players are also collaborating with local distributors to supply their products globally.

Get More Exclusive Insights into Bicycle Light Market

The research report analyzes the market demand trend for bicycle light. The global market is based on COVID-19 impact, macroeconomic factors, market trends & market background. As per Future Market Insights' research scope, the bicycle light market report is studied and analyzed in the following segments such as mounting type, bicycle type, sales channel, and region. The bicycle light market report gives us qualitative and quantitative information about the companies.

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Key Segments Covered in Bicycle Light Market Analysis

By Mounting Type:

Headlight
Rear Safety Light
Side Safety Light

By Bicycle Type:

Mountain Bicycle
Road Bicycle
E-Bicycle
Sport Bicycle

By Sales Channel:

OEM
Aftermarket
Online Channel
Offline Channel

By Region:

North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East & Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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