Bicycle Lights Market worth USD 772.3 Million by 2031, Says Allied Market Research

According to a new report published by Allied Market Research, titled, "Bicycle Lights Market," The bicycle lights market size was valued at $356.20 million in 2021, and is estimated to reach $772.3 million by 2031, growing at a CAGR of 8.2% from 2022 to 2031.

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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.

Growing environmental & health concerns, rising traffic congestion and increased fuel prices are the primary factors increasing the adoption of electric bicycles across the globe. Moreover, the factors such as fast & flexible operations and cost-effective & eco-friendly transport solution also growing consumer inclination toward the usage of e-bicycles. Furthermore, increase in the number of market players providing e-bicycles coupled with the increasing investments in R&D activities further propelling the adoption of e-bicycles. For instance, in December 2019, an electric bike-share startup Wheels, has redesigned its two-wheeled vehicle to include a special spot to hold a helmet. Thus, such factors collectively contribute in increasing adoption of electric bicycles, which in turn is expected to increase the demand for bicycle lights and will contribute in the growth of bicycle lights market during the forecast period.

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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.

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.

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.

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.

Europe includes countries such as the UK, Germany, France, Italy, and the rest of Europe. Rest of Europe includes such as the Poland, Switzerland, Sweden, Austria, Norway, and others. Factors such as increased adoption of electric bicycle in the region, availability of daily commuter bicycle with company fitted bicycle lights, and regulations which mandates every bicycle sold in the region to be equipped with bicycle lights, contributes in the growth of bicycle lights market in Europe. Moreover, in European cities such as Germany, the UK, France, Italy, and the Netherlands, infrastructure has been developed for public where bicycles can be used without the interference with heavy vehicle traffic, which further supplements the growth of the bicycle lights market in this region.

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Leading market players of the global bicycle lights market analyzed in the research include

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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