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.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 300 Billion |
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Forecast Year Market Size (2033) |
~ USD 700 Billion |
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Regional Scope |
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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:
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By Mounting Type |
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By Bicycle Type |
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By Point of Sale |
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By End-user |
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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.
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
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