What is Bicycle Lights Market?
Bicycle lights are the type of illumination attached to bicycles whose primary purpose is to enhance the visibility of the bicycle and its rider to other road users under circumstances of poor ambient illumination. It is also used to illuminate reflective materials such as traffic signs and cat’s eyes. It may also be used to illuminate the roadways so that rider can see the way ahead. Many jurisdictions require one or more bicycle lights to be fitted to bicycles ridden at night, usually a white light in the front and a red light at the back.
The market study is being classified by Type (Halogen Lights, Xenon Lights and LED Lights) and major geographies with country level break-up. According to AMA, the Global Bicycle Lights market is expected to see growth rate of 8.5%
Garmin Ltd. (United States), Cygolite (United States), Cateye Co., Ltd. (United States), Shenzhen Gaciron Technology Co., Ltd (China), Goldmore Co., Ltd. (China), Lord Benex (Taiwan), Knog (Australia), Smart Bike Light (Taiwan), NiteRider Technical Lighting Systems (United States) and Serfas (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Lezyne (United States), Sense. (United Kingdom) and Zanflare (China).
The global bicycle light market is fragmented in nature. Various technological advancements in terms of the safety of bicycle lights and reflector products are enabling major players in the industry to upgrade their product portfolio to meet the regulatory requirements. Furthermore, players in North America and Europe, with a high prevalence of bicycle sports, are working continuously to maintain their position and brand value in the market for bicycle lights and reflectors. Research Analyst at AMA predicts that United States, Chinese Manufacturers will contribute to the maximum growth of Global Bicycle Lights market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Bicycle Lights market by Type, Application and Region.
On the basis of geography, the market of Bicycle Lights has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Bicycle Industry Worldwide
- The popularity of Bicycle Rental Programs
- Increasing Safety and Security Awareness among the Riders
- The Rising Demand for Mountain Bikes
Market Trend
- Growth in Online Retail Channel
Restraints
- Flashy Lights Causing Blinding Effect to Eyes of Driver
Opportunities
- Increase in Bicycle Racing Events and Bicycle Riding Organizations
- Growing Tourism Industry Globally
Market Leaders and some development strategies
In 2016, Garmin Ltd. has acquired the assets of iKubu (Pty) Ltd., a privately-held designer of computer vision and radar systems for the cycling market.
On 9 Aug 2017, ZAN.FLARE, a brand which mainly devotes its attention on the research and manufacturing of photoelectric products, has launched a crowdfunding project on Indiegogo on 2nd August to raise money to support its new idea - B3, an innovative and unique LED bike light with a three-eyed owl design.
Governments in advanced and emerging economies, such as the U.S., the U.K., Brazil, Singapore, and India, have introduced regulations, policies, and initiatives to promote the reduction of CO2 emissions. For instance, many countries in Europe and APAC are forcing consumers to use eco-friendly/green means of transportation, such as bicycles, for their day-to-day commute. Also, most European countries and some U.S. states require bicycle lights at night for safety purposes.
Key Target Audience
Bicycle Lights Manufacturers, Bicycle Lights Raw Material Suppliers, Bicycle Lights Traders/Distributors, Bicycle Lights Importer/Exporter, Regulatory & Government Bodies, End Users and Others