Bicycle Lights Market to Illuminate $772.3 Million by 2031, Boosted by Rising Demand for Cycling Safety

According to the report published by Allied Market Research, the global bicycle lights market garnered $356.2 million in 2021, and is estimated to generate $772.3 million by 2031, manifesting a CAGR of 8.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.

🔰 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 - https://www.alliedmarketresearch.com/request-sample/A31859

In recent years, UK government has implemented numerous regulations related to use of lights in bicycles which complements the bicycle lights business across UK. For instance, in UK, as per the Road Vehicles Lighting Regulations (RVLR): lights and reflectors are necessary to a pedal cycle only between sunset and sunrise; and rear reflector should be positioned between 25 cm and 90 cm from the ground, facing rearwards. In addition, government is also working toward enhancing bicycle infrastructure across the UK, which boosts the growth of the market in the country.

The research provides detailed segmentation of the global bicycle lights market based on technology, mounting type, bicycle type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨:

The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global bicycle lights market, owing to implementation of global lockdown, travel restrictions, and social distancing norms.

Curfew practices globally affected the domestic as well as international production and sales of bicycle lights, which, in turn, hampered the growth of the overall market.

Nevertheless, the global bicycle lights market is expected to grow at a significant rate, owing to increased adoption of bicycles and electric bicycles across the globe in the post-pandemic.

Based on technology, the LED segment held the highest share in 2021, accounting for more than 90% of the global bicycle lights market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is expected to register the highest CAGR of 8.3% from 2022 to 2031.

🔰 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/bicycle-lights-market/purchase-options

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐦𝐨𝐮𝐧𝐭𝐢𝐧𝐠 𝐭𝐲𝐩𝐞, the head light segment accounted for the highest share in 2021, contributing to more than two-thirds of the global bicycle lights market, and is expected to maintain its lead in terms of revenue during the forecast period. In addition, the same segment is expected to manifest the highest CAGR of 8.7% from 2022 to 2031.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐚𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, the commuting bicycle segment accounted for the highest share in 2021, holding nearly three-fifths of the global bicycle lights market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is estimated to grow at the highest CAGR of 8.7% during the forecast period.

𝐁𝐚𝐬𝐞𝐝 𝐨𝐧 𝐫𝐞𝐠𝐢𝐨𝐧, Europe held the largest share in 2021, contributing to more than two-fifths of the global bicycle lights market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 8.9% during the forecast period. The research also analyzes regions including North America, LAMEA, and Asia-Pacific.

Factors such as government regulations to encourage adoption of bicycle lights, increase in fuel costs, rise in interest in cycling as a fitness & recreational activity, and rising adoption of e-bicycles are expected to drive the market growth. However, lack of bicycle infrastructure is the factor that hamper the market growth. Furthermore, improvement in bicycling infrastructure is the factor expected to offer lucrative opportunities for market growth.

🔰 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐭𝐨 𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐭𝐡𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 - https://www.alliedmarketresearch.com/purchase-enquiry/A31859

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
Cateye Co., Ltd.,
Cygolite Co,
Gaciron Technology,
Trek Bicycle Corporation,
Garmin Ltd.,
BBB Cycling,
Lupine Lighting Systems GmbH,
Lezyne USA Inc,
Princeton Tec,
Lord Benex International Co., Ltd.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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