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$ 2.5 Billion by 2032, opines Future Market Insights (FMI).
Germany is expected to increase at an 8.9% CAGR from 2022 to 2032. According to FMI, it is predicted to dominate the European bicycle light market between 2022 and 2032. Germany is one of the European countries with the most mountain paths and riding areas for bicycles. It is thought to be one of the European countries where the mountain bike passion is spreading quickly.
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Bicycle lights assist bikers see their way and their other cyclists at night when riding on the mountainside. Because of the abundance of mountain biking routes and the presence of a well-established mountain biking sector in Germany, the bicycle light market is expected to expand gradually throughout the evaluation 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.
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.
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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.
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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