Bicycle Lights Market Size & Share, by Mounting Type (Headlight, Taillight, Rear Safety Lights, Side Safety Lights); Bicycle Type (Road, Mountain, Sports); Point of Sale (In-store, Online); End-user (Kids, Men, Women) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2033

  • Report ID: 4420
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2033

Bicycle Lights Market size is poised to surpass USD 700 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of bicycle lights was over USD 300 Billion.The growth of the market can primarily be attributed to the rising demand for bicycle lights amongst the population owing to the growing demand for bicycle worldwide. According to the projections, there will be nearly 5 billion bicycles by 2050 worldwide.

Bicycle lights are becoming an essential product in the bicycle accessory market, with the increasing demand of bicycle on road and bicycle sporting culture. Rider safety have emerged to be of paramount importance with continuous upsurge in bicycle fleet providing safety to the rider and enhancing the quality of riding experience. With rising development of cycling infrastructure worldwide, the demand for bicycle lights is on the rise amongst the riders, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global market during the forecast period.  For instance, in Australia over USD 400 million was spent on cycling related infrastructure and programs in 2020.


Bicycle Lights Market
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Bicycle Lights Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Bicycle Usage for Sport Purposes and Day Trips – are expected to boost the market in the forecasted period. There is a surge in bicycle tourism & use of bicycle for sports & day trips in leisure time which will escalate the demand for bicycle & bicycle lights in the upcoming years. For instance, in Germany, a total of ~460 million cycling day trips were completed during leisure time in 2020.
  • Increasing Awareness of Cycling Benefits – according to the World Health Organization (WHO) estimations, by 2030, the number of deaths from non-communicable diseases (NCDs) will increase to 55 million annually. Cycling can reduce the chances of developing many health issues by increasing fitness and reducing stress as cycling in the areas with less pollution (PM2.5 level within 50-60µg/m3) for about an hour can produce significant health benefits.
  • Surge in the Number of Initiatives for Using Bicycle - for instance, as per the initiative of Smart Commute in Mumbai (India), the goal set till 2030 is that at least 50% of the city’s population commute to work by bicycle.
  • Growing Demand for Mountain Bikes (Bicycle) –it was projected that, globally, ~ 44 million units of mountain bikes were produced in 2020 and it is estimated to touch nearly 72 million units by 2026.

Challenges

  • Lack of Safe Cycling Infrastructure
  • Availability of High-Speed Alternatives
  • Poorly Managed Bicycle Fleet

Bicycle Lights Market: Key Insights

Base Year

2022

Forecast Year

2023-2033

CAGR

~8%

Base Year Market Size (2022)

 ~ USD 300 Billion

Forecast Year Market Size (2033)

~ USD 700 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Bicycle Lights Segmentation

End-user (Kids, Men, Women)

The global bicycle lights market is segmented and analyzed for demand and supply by end-user into kids, men and women.  Amongst these segments, the kids segment is anticipated to garner the largest revenue by the end of 2033, backed by the growing demand of bicycle along with the surge in the use of bicycle by kids worldwide. For instance, as per the statistics of 2020, the proportion of children who owns bicycle in the age group of 5-10 year was ~ 50% higher than the proportion of bicycle-owners in the age group of 40-49 years in England.

Our in-depth analysis of the global market includes the following segments:

        By Mounting Type

  • Headlight
  • Taillight
  • Rear Safety Lights
  • Side Safety Lights

         By Bicycle Type

  • Road
  • Mountain
  • Sports

         By Point of Sale

  • In-store
  • Online

           By End-user

  •  Kids
  • Men
  • Women

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Bicycle Lights Industry - Regional Synopsis

Regionally, the global bicycle lights market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Asia Pacific is projected to hold the largest market share by the end of 2033, backed by the presence of some giant manufacturers in the region, growing demand of bicycle amongst the populace. For instance, ~37% of the population in China use a bicycle with bicycle use is being even more common in Japan with ~57% people using one.

Research Nester
Bicycle Lights Market Size
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Companies Dominating the Bicycle Lights Landscape

top-features-companies
    • Lezyne, USA Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis 
    • Fenixlight Limited
    • Gaciron Technology
    • Cateye Co., Ltd.
    • Focus Technology Co., Ltd.
    • Lord Benex International Co., Ltd.
    • Knog Pty Ltd
    • Vista Outdoor Inc.
    • NiteRider Technical Lighting Systems
    • Garmin Ltd. 

     


In the News

  • Lezyne, USA Inc., - announced its partnership with UCI WorldTour team, Team DSM. Working towards the goal of promoting rider safety and visibility, Lezyne joins the Dutch-based international team with a multi-year deal as the team’s official sponsor of LED lights.

  • Fenixlight Limited - introduced Fenix BC26R, an ultra-bright rechargeable bicycle light that offers up to 1,600 lumens and features 65 hours maximum runtime (50 lumens), for high-intensity and long-distance cycling users.

Author Credits:  Harshita Srivastava, Saima Khursheed


  • Report ID: 4420
  • Published Date: Feb 13, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing demand of bicycles as well as rising sports cycling along with rising investment on developing cycling infrastructure are some of the major factors anticipated to drive the growth of the market.

The market is anticipated to attain a CAGR of ~8% over the forecast period, i.e., 2023-2033.

Lack of safe cycling infrastructure along with availability of alternate high-speed transport solutions are some of the factors estimated to hamper the market growth.

The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

The major players in the market are Lezyne, USA Inc., Fenixlight Limited, Gaciron Technology, Cateye Co., Ltd., Focus Technology Co., Ltd., Lord Benex International Co., Ltd., Knog Pty Ltd, Vista Outdoor Inc. and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by mounting type, by bicycle type, by end-user and by region.

The kids segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.
Bicycle Lights Market Report Scope
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