Bicycle Lights Market Advancements, Key Players, Strategies to Boost Industry Growth 2031

The research provides detailed segmentation of the global bicycle lights market based on technology, mounting type, bicycle type, application, and region.

WILMINGTON, NEW CASTLE, DELAWARE, UNITED STATES, May 27, 2024 /EINPresswire.com/ -- The 𝐁𝐢𝐜𝐲𝐜𝐥𝐞 𝐋𝐢𝐠𝐡𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 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. The global bicycle lights market size was valued at $356.2 million in 2021, and is projected to reach $772.3 million by 2031, growing at a CAGR of 8.2% from 2022 to 2031.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/request-sample/A31859

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.

Based on technology, the LED segment held the highest share in 2021, accounting for more than 90% of the global bicycle lights market size, 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.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

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

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐭𝐡𝐞 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/checkout-final/61e3f371967b073c63f87cdb73fa1ac1

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.

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.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

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.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A31859

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.

𝐊𝐄𝐘 𝐅𝐈𝐍𝐃𝐈𝐍𝐆𝐒 𝐎𝐅 𝐓𝐇𝐄 𝐒𝐓𝐔𝐃𝐘

By technology, the LED segment is anticipated to exhibit significant growth in the near future.

By mounting type, the head light segment is anticipated to exhibit significant growth in the near future.

By bicycle type, the electric segment is anticipated to exhibit significant growth in the near future.

By application, the commuting bicycle segment is anticipated to exhibit significant growth in the near future.

By region, Europe is anticipated to register the highest CAGR during the forecast period.

𝐂𝐡𝐞𝐜𝐤 𝐨𝐮𝐭 𝐦𝐨𝐫𝐞 𝐫𝐞𝐥𝐚𝐭𝐞𝐝 𝐬𝐭𝐮𝐝𝐢𝐞𝐬 𝐩𝐮𝐛𝐥𝐢𝐬𝐡𝐞𝐝 𝐛𝐲 𝐀𝐌𝐑 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:

Gear Bicycle Market - https://www.alliedmarketresearch.com/gear-bicycle-market-A12256

Two-Wheeler Market - https://www.alliedmarketresearch.com/two-wheeler-market-A11379

Tire Bead Wire Market - https://www.alliedmarketresearch.com/tire-bead-wire-market

Electric Bikes Market - https://www.alliedmarketresearch.com/electric-bikes-market

David Correa
Allied Market Research
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