A new market study, titled “Discover Global Bicycle Lights Market Upcoming Trends, Growth Drivers and Challenges” has been featured on WiseGuyReports.
The bicycle lights market is more significant than the public realizes. Due to the increased concerns about health and pollution, a lot of people find it important to ride bicycles. Any vehicle that steps on to the road needs proper lighting for safety and visibility reasons. This is where the bicycle lights market comes in the fore. Bicycle industries and companies are making sure that they improve the visibility for riders in poor lighting conditions. Even in proper illumination, these lights reflect the road signals and helps the riders ride smoothly. In some regions, it is also a legal requirement to have a white light on the bicycle. Mostly, the rule is to put a while light in the front and a red light in the back. Some governments are spending on educating people about the dangers of not having a light at the front and rear of a bicycle, which, in turn, is enhancing the value of this market.
The global market for bicycle lights is expected to grow at a CAGR of 8.3% till 2024 and will reach 400 million USD. In 2019, the market is valued at 250 million USD.
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The in-depth study of the world bicycle lights market provides the newest industry data and future industry trends, allowing you to identify the products and end users driving Revenue growth and profitability. The industry report also specifies the leading competitors. The key players are CatEye, SIGMA Elektro, Serfas, Bright Eyes, Knog, Giant, Exposure Lights, Topeak, Trek Bicycle, Blackburn, TRELOCK, Blitzu, LIGHT & MOTION, Planet Bike, NiteRider, Moon Sport, Magicshine, Spanninga Bicycle Components, Shenzhen Niteye, BBB Cycling, Ferei, Fenix and Reelight.
By product, the market is segmented into headlight and taillight. By application, the market is segmented into mountain bicycles, road bicycles, and commuting bicycles.
This world bicycle lights market report studies the global market size of bike lights and reflectors in key regions like the USA, Europe, Japan, China, India, and Southeast Asia. The USA and Europe have a lot of bicycle riders who contribute a huge percentage in the market of lights. India is also expected to grow at a faster speed than before. As awareness increases for the health benefits of bicycle riding, the market is expected to grow in many other regions as well. Some companies are only focusing on raising such awareness.
Recently, Light & Motion, a key player in the bicycle lights market, announced that their product development will focus on extending light power for multiple nights. About nine months ago, Light & Motion had moved its production segment to the Philippines because of a 10% tariff on Chinese-made products.
Release ID: 88927473