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 Bicycle Lights Market Highlights Over 2023 - 2033

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

The global bicycle lights market is estimated to garner a revenue of ~USD 700 billion by the end of 2033 by growing at a CAGR of ~8% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 300 billion in the year 2022. 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-Market-Size

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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 bicycle lights market during the forecast period.  For instance, in Australia over USD 400 million was spent on cycling related infrastructure and programs in 2020.

Global Bicycle Lights Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Bicycle Usage for Sport Purposes and Day Trips – are expected to boost the bicycle lights 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

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.

Market Segmentation

Our in-depth analysis of the global bicycle lights 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

Global Bicycle Lights Market 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.

Bicycle-Lights-Market-Scope

The global bicycle lights market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Top Featured Companies Dominating the Global Bicycle Lights Market

  • 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

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

Key Questions Answered in the Report

1) What are the major factors driving the growth of the bicycle lights market?

Ans: 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.

2) What would be the CAGR of bicycle lights market over the forecast period?

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

3) What are the challenges affecting the bicycle lights market growth?

Ans: 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.

4) Which region will provide more business opportunities for growth of bicycle lights market in future?

Ans: 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.

5) Who are the major players dominating the bicycle lights market?

Ans: 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.

6) How are the company profiles selected?

Ans: 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.

7) What are the segments in the bicycle lights market?

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

8) Which segment captures the largest market size in end-user in the bicycle lights market?

Ans: The kids segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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