Bicycle Lights Market Size to hit $ 679.70 Mn by 2030 – Leading Players, Current Trends And Challenges Faced

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Global Bicycle Lights Market is projected to register a CAGR of 8.9% during 2023-2030, due to the increasing demand for road safety as a result of traffic and congestion on roads. Mojor Participants Includes are BBB Cycling, Dinotte Lighting, Garmin, Knog, Kryptonite, Lezyne, Lupine, Princeton Tec, Trek Bicycle Corporation.

New York, June 06, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Bicycle Lights Market” published by Consegic Business Intelligence, the market was worth USD 350.31 Million in 2022 and is anticipated to reach over USD 679.70 Million by the year 2030, growing at a CAGR of 8.9%.

Bicycle lights refer to the lighting systems and accessories specifically designed for bicycles to improve visibility and safety in low light conditions. Bicycle lights allow cyclists to visualize obstacles effectively in order to avoid collisions and navigating through the traffic.

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The increasing adoption of LED lights in bicycles to provide bright illumination on roads is driving the growth of the market. LED lights consume less power in comparison to xenon and halogen lights, thereby contributing to the cost-effectiveness of LED lights. For instance, in March 2022, Fenixlight Limited launched bicycle LED light called BC26R producing 1,600 lumens of powerful light with 169 meters long-distance beam. Therefore, the growing adoption of high-quality lighting systems in bicycles is accelerating the growth of the market.

The improvement in connectivity and communication systems such as Internet of Things (IoT) in bicycles is expected to present opportunities for market growth during the forecast period. The integration of IoT allows cyclists to gather 2D and 3D map views to reach the desired destination. However, reduced intensity of light during commutation due to changing velocity of the bicycle is hindering the growth of the market.

Report Attributes Report Details
Market Size By 2030  USD 679.70 Million
Forecast Period 2023-2030
CAGR (2023-2030) 8.9%
Base Year 2022
Study Timeline 2017-2030
Key Players BBB Cycling, Dinotte Lighting, Garmin, Knog, Kryptonite, Lezyne, Lupine, Princeton Tec, Trek Bicycle Corporation
By Voltage Up to 12V, 36V, and 48V
By Mounting Type Headlight, Taillight, Spoke Light, and Frame Light
By Technology Halogen, LED, and Xenon
By Sales Channel Online and Offline
By Application Road Bicycle, Mountain Bicycle, and Commuting Bicycle
Report Coverage Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa


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Bicycle Lights Market Growth Drivers:

  • The growing awareness among cyclists and riders for protection and security on roads is driving the growth of the market.
  • The increasing adoption of LED lights to provide bright illumination on roads is accelerating the growth of the market.
  • The rising government initiatives to promote the adoption of electric vehicles such as e-bicycle is propelling the growth of the market.

Restraints

  • The reduced intensity of light due to the changing velocity of bicycle is hindering the growth of the market.
  • Poor biking infrastructure in developing countries is hindering the growth of the market.

Opportunities

  • The improvement of connectivity and communication systems such as Internet of Things (IoT) in bicycles is expected to present potential opportunities for market growth during the forecast period.

Global Bicycle Lights Market Segmentation Details:

Based on Voltage, the 36V segment contributed the largest shares to the market growth in 2022. The utilization of LEDs in 36V bicycle lights to provide a larger illumination area is driving the growth of bicycle lights market. As a result, 36V bicycle lights are well-suited for city and road cycling to provide enhanced visibility and safety to the rides.

Based on Mounting Type, the headlight segment accounted for the maximum revenue share in the year 2022. The headlights in bicycles are mounted in front of the bicycle to provide enhanced visibility of the road ahead. Moreover, the adoption of different beam patterns such as focused beam and wide beam in headlights to provide visibility for long distances is driving the growth of the market.

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Based on Technology, the LED segment accounted for the maximum revenue share in the year 2022. The energy-efficiency, long-lifespan, and cost-effectiveness of LED lights is driving the growth of the market. LED lights are used to produce high visibility while consuming less power, thereby accounting for the cost-effectiveness of LED lights.

Based on Sales Channel, the offline segment accounted for the maximum revenue share in the year 2022. Customers prefer to test and understand the product’s features before purchasing. As a result, cyclists prefer to purchase bicycle lights from retail and specialty stores. Moreover, offline stores provide proper guidelines for the installation of lights in bicycles that further attracts a large number of consumers towards this segment.

Based on Application, the road bicycle segment accounted for the maximum revenue share in the year 2022. The increasing number of road accidents and collisions is driving the growth of the bicycle lights market. Bicycle lights play an essential role in providing visibility especially during night and in winter seasons. Therefore, consumers are increasingly purchasing front and rear lights contributing to the growth of the market.

Based on region, Europe accounted for the largest revenue share in the year 2022. The strong cycling culture in the rising government initiatives to promote cycling as the sustainable and healthy mode of transportation is driving the growth of the market. Moreover, the growing cycling tourism industry in the region is driving the growth of the market.

Recent Developments

  • In November 2020, Lezyne expanded e-bike lighting range by launching e-bike lighting and visibility solutions offering powerful illumination and seamless integration.
  • In April 2022, Planet Bike launched three new lights called Blaze 1500, Dual Beamer 120, and Shiner 70 Taillight to enhance the biking experience.

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List of Major Global Bicycle Lights Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

• BBB Cycling

• Dinotte Lighting

• Garmin

• Knog

• Kryptonite

• Lezyne

• Lupine

• Princeton Tec

• Trek Bicycle Corporation

Global Bicycle Lights Market Segmentation: 

  • By Voltage
  • Up to 12V
  • 36V
  • 48V
  • By Mounting Type
  • Headlight
  • Taillight
  • Spoke Light
  • Frame Light
  • By Technology
    • Halogen
    • LED
    • Xenon
  • By Sales Channel
    • Online
    • Offline
  • Application
    • Road Bicycle
    • Mountain Bicycle
    • Commuting Bicycle

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Key Questions Covered in the Bicycle Lights Market Report

  • What are bicycle lights?

– Bicycle lights are the additional accessories that are utilized to provide safety on roads during low-light conditions. Bicycle lights include headlight, taillight, spoke light, and flash light that provides different beams according to the applications.

  • What are some of the most important applications of bicycle lights and how do they impact the industry’s growth potential?

– Bicycle lights are used to produce bright illumination on roads in order to see potential hazards or obstacles. Moreover, bicycle lights are used to provide visibility in conditions of smoke, fog, and pollution.

  • Based on current market trends and future predictions, which geographical region will have the largest impact on the bicycle lights growth in the coming years?

– Europe accounted for the largest revenue share in the year 2022. The strong cycling culture in the region and the growing government initiatives to promote the adoption of e-bicycles is accelerating the growth of the market.

  • Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?

– North America is anticipated to register fastest CAGR growth during the forecast period. The growing cycling tourism industry for adventure and recreational activities is driving the growth of the market.

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