Bicycle Lights Market Size To Grow By 139 Million Units From 2022 To 2027: Government Initiatives To Boost Growth - Technavio

(MENAFN- PR Newswire) NEW YORK, Feb. 9, 2024 /PRNewswire/ -- The global bicycle lights market size is estimated to increase by 139 million units . The market's growth momentum will progress at a CAGR of 7.86%.
Government initiatives globally are driving the Bicycle Lights Market forward. Measures like bike master plans and infrastructure investments in the US, UK, Germany, and Sweden aim to promote cycling amid traffic challenges. Schemes like "Cycle to Work" in the UK and campaigns like "Power to Pedal" in India increase bike usage, addressing mobility inequalities and environmental concerns, while initiatives in New Zealand and elsewhere focus on promoting cycling among school children.
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Technavio has announced its latest market research report titled Global Bicycle Lights Market 2023-2027

Technavio has segmented the market based on
Product (Head light and Tail light), Type (Aftermarket and Stock fitted), and Geography (Europe, APAC, North America, Middle East and Africa, and South America).

• The
  headlight segment is projected to witness substantial market share growth in the Bicycle Lights Market. Vendors offer a diverse range of headlight products featuring high lumens, rechargeable batteries, and multiple modes. Notable examples include Light and Motion's Urban 1000 and CATEYE's Volt 1700. This variety is anticipated to drive global demand for bicycle headlights, fostering growth during the forecast period.

Scope
Report Coverage	Details
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 7.86%
Growth 2023-2027	139 million units
structure	Fragmented
YoY growth 2022-2023 (%)	7.42
Regional analysis	Europe, APAC, North America, Middle East and Africa, and South America
Performing contribution	Europe at 32%
Key countries	US, China, India, Germany, and UK

The global industry is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors are Augusta Benelux BV, Blackburn, Blitzu, Bright Eyes Products, CATEYE Co. Ltd., Cygolite, Garmin Ltd, Giant Manufacturing Co. Ltd., Goldmore, Knog Pty Ltd., Lezyne USA Inc., Light and Motion, Lord Benex International Co. Ltd., NiteRider Technical Lighting, Reelight, See, Serfas, The Smart Bike Lights, TOPEAK Inc., and Trek Bicycle Corp.
For details on the vendor and its offerings –
Request a sample report

• The increasing popularity of bicycle rental services is an emerging trend fueling the growth, however, challenges such as the high cost of raw materials may impede growth.
  Driver, Trend & Challenges are the factor of dynamics that states about consequences & sustainability of the businesses, find some insights from a free sample report!

What are the key data covered in this report?

• CAGR
  during the forecast period
• Detailed information on factors that will drive the growth between 2023 and 2027
• Precise estimation
  of the size and its contribution to the focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the industry across Europe, APAC, North America, Middle East and Africa, and South America
• A thorough analysis of the competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Bicycle Light
  vendors

Technavio's SUBSCRIPTION platform

A wide range of bike safety accessories to enhance the experience

Premium LED bicycle lights are a vital part of bicycle safety accessories.
Reliable cycling equipment like rechargeable bike lights is essential for both city rides and mountain trails. Riders can ensure visibility with innovative bicycle lighting solutions, catering to urban and off-road cyclists alike. Riders need to
prioritize safety with commuter bike lights, designed to make you noticeable in any setting. With state-of-the-art LED technology, riders can elevate their cycling journey with style and security. More importantly, this enables riders to ride
confidently with a diverse range of lighting options.

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