- Summary
- Table Of Content
- Methodology
Bicycle Lights Market Size :
Global Bicycle Lights Market size is estimated to reach over USD 679.70 Million by 2030 from a value of USD 350.31 Million in 2022, growing at a CAGR of 8.9% from 2023 to 2030.
Bicycle Lights Market Scope & Overview:
Bicycle lights are the additional accessories used to provide illumination in order to improve the visibility of the bicycle and to the rider under circumstances of poor ambient illumination. They include headlights and taillights that illuminate the roads, allowing cyclists to observe potential obstacles and hazards. They produce focused and wide beams that are well-suited to different applications such as road cycling, off-roading, and others. Therefore, they play a crucial role in providing safety for the rider or cyclist.
Bicycle Lights Market Insights :
Bicycle Lights Market Dynamics - (DRO) :
Key Drivers :
Increasing demand for rider safety during low light conditions
The increasing demand for rider safety and protection during heavy traffic and congestion on roads are among key drivers propelling the growth of bicycle lights market. The growing emphasis on road safety has led to the adoption of additional bicycle accessories that are designed to improve rider's safety and enhance the quality of riding experience. As a result, consumers are increasingly adopting highly efficient headlights, taillights, rear safety lights, and side safety lights to improve the visibility during low-light conditions. For instance, in May 2022, Garmin launched Varia RCT715 rearview radar activated taillight with built-in camera to capture sharp, clear video during cycling. Analysis of market trends concludes that the increasing awareness among cyclists regarding road safety and proper commutation has led to the adoption of high-quality lighting systems in bicycles, resulting in the proliferation of the market.
Increasing government investments to promote the adoption of e-bicycles
The rising government initiatives to promote the adoption of e-bicycles by means of sustainable transportation is driving the growth of the market. In countries such as India, more than 25% of individuals commute to work either on two-wheelers or bicycles as they are an affordable and reliable means of transport for people across urban and rural areas. Therefore, manufacturers are producing battery-powered two-wheelers in order to provide convenience to the consumers. Moreover, the government is promoting the adoption of lights for e-bicycles and bicycle to improve road safety. For instance, in November 2022, The Wichita Police Department in the United States collaborated with Broadway Corridor Team to distribute free lights. Analysis of market trends concludes that the increasing government initiatives to promote safety of individuals by means of awareness towards adoption of lights for bicycles is proliferating the bicycle lights market demand.
Key Restraints :
Rising adoption of dynamo devices
Dynamo is a device attached to the bicycle's wheel, plays a crucial role in generating energy to power a bicycle's light. The intensity of the dynamo lights used in a bicycle gets affected due to the changing velocity of the bicycle. Increasing the velocity of the bicycle rotates the magnet inside the coil and produces enough electricity to power bicycle's light. On the other hand, reduction in velocity of bicycles generates less energy to power the lights, resulting in low visibility. Analysis of market trends concludes that the factors including reception of reduced intensity of light due to decrease in velocity is restraining the proliferation of bicycle lights market.
Future Opportunities :
Adoption of bicycles as a result of growing tourism industry
The adoption of bicycles owing to the growing tourism industry is expected to present potential prospects for the proliferation of the market. The increase of cycling as a hobby among consumers for adventure and recreational purposes creates several opportunities for the adoption of lights meant for bicycles. Moreover, bicycles lights provide enhanced safety and improved cycling experience to the tourists. For instance, according to the European Parliament, 2.3 billion cycle tourism trips are planned every year in Europe that promotes the country's tourism sector coupled with cycling events. Analysis of market trends concludes that the growing bicycle tourism industry is emerging as one of many bicycle lights market opportunities that will drive market expansion during the forecast period.
Enhancing connectivity and communication systems of bicycles
The improvement of connectivity and communication systems in bicycles to improve the riders' experience is expected to present potential opportunities for the growth of the bicycle lights market. The incorporation of Internet of Things (IoT) with bicycles allows riders to connect bicycles with their smartphones to provide enhanced connectivity and communication systems. The rider is able to gather 2D and 3D map views to reach the desired destination. Analysis of market trends concludes that the integration of IoT allows cyclists to select the fastest, shortest, or most serene route, resulting in the proliferation of the market during the forecast period.
Bicycle Lights Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 679.70 Million |
| CAGR (2023-2030) | 8.9% |
| By Voltage | Up to 12V, 36V, and 48V |
| By Mounting Type | Headlight, Taillight, Spoke Light, and Frame Light |
| By Technology | Halogen, LED, and Xenon |
| By Sales Channel | Sales Channel |
| By Application | Road Bicycle, Mountain Bicycle, and Commuting Bicycle |
| By Region | Asia-Pacific, Europe, North America, Latin America, Middle East & Africa |
| Key Players | BBB Cycling, Dinotte Lighting, Garmin, Knog, Kryptonite, Lezyne, Lupine, Princeton Tec, Trek Bicycle Corporation |
Bicycle Lights Market Segmental Analysis :
By Voltage :
Based on the voltage, the market is trifurcated into up to 12V, 36V, and 48V. In 2022, the 36V segment accounted for the highest bicycle lights market share. The utilization of LEDs in 36V lights to provide a larger illumination area is driving the proliferation of the market. The bright illumination of these lights is well-suited specifically for city and road cycling, thereby providing enhanced visibility and safety to the rides. Moreover, the cost-effectiveness and easy installation of 36V bicycle lights in e-bikes is further contributing to the proliferation of the bicycle lights market.
The 48V segment is expected to register fastest CAGR growth during the forecast period. The increase in bicycle adventure activities and the consumers' shift towards high-powered bicycle lights is driving the expansion of this segment. High-end lights require high voltage capacities to provide visibility in applications such as mountain bicycles for off-roading and adventure activities. Furthermore, lights with enhanced connectivity such as Bluetooth connectivity are also categorized under this segment, resulting in bicycle lights market growth.
By Mounting Type :
Based on the mounting type, the market is separated into headlight, taillight, spoke light, and frame light. The headlight segment accounted for the largest revenue share in the year 2022. Headlights are mounted on the front of bicycles and are primarily designed to illuminate the path ahead of the rider. The adoption of different beam patterns such as focused beam and wide beam in headlights provide visibility for long distances, allowing users to spot obstacles and fellow riders. Moreover, headlights provide enhanced visibility of reflective items on the road such as traffic signs, raised markers, road lines, and animal eyes. As a result, growing focus on installation of bicycle headlights to improve road safety is driving the proliferation of bicycle lights market.
The taillight segment is anticipated to emerge as the fastest-growing segment during the forecast period. Taillights are installed under the riders' seat and operate in steady and flashing mode. Taillights offer multiple lighting modes such as steady illumination, flashing or pulsating patterns in order to illuminate the path for cyclists. Moreover, bicycle taillights are available in different intensities and colors according to the day and night applications. Therefore, the ability of bicycle taillights to provide eye-catching illumination is driving the expansion of bicycle lights market.
By Technology :
Based on the technology, the market is trifurcated into halogen, LED, and xenon. The LED light segment accounted for the largest revenue share of 46.19% in the year 2022. The increasing demand for LED lights due to energy-efficiency, long-lifespan, and compact form factor is driving the proliferation of LED light segment. LED lights provide bright illumination while consuming less power, thereby providing enhanced visibility on the roads. For instance, in March 2021, Lupine launched bright bicycle and outdoor LED lights with precision lenses to provide improved functionality and performance in road traffic. Therefore, the cost-effectiveness of LED lights due to the lower energy consumption increased the demand for LED lights in bicycles.
Xenon segment is expected to witness fastest CAGR growth during the forecast period. The ability of xenon headlamps to provide three times brighter visibility in comparison to halogens lights is driving the expansion of bicycle lights market. The xenon gas in bicycle headlights inhibits the beam from flickering, thereby providing a more focused beam for long-distance visibility. Consequently, the adoption of xenon headlights due to their energy-efficiency, long-lifespan, and better illumination capabilities is expected to drive the proliferation of the market during the forecast period.
By Sales Channel :
Based on the sales channel, the market is bifurcated into online and offline. The offline segment accounted for the largest revenue share in the year 2022 as bicycle lights are available in wide range of stores including retail shops, specialty stores, and others. Customers exhibit a preference for physical product testing before purchase, particularly for items that are used for maintaining safety on roads. Moreover, the salesperson in offline stores provide appropriate guidance and details about the proper installation of lights bicycles. Therefore, offline stores provide the opportunity to understand product features and functionality, resulting in the proliferation of this segment.
The online segment is expected to emerge as the fastest-growing segment during the forecast period. The growth of this segment is attributed to the shift in customer behavior of shopping online through e-commerce websites, online marketplaces, and mobile applications. Online sales channel provides an opportunity to the customers to compare prices of different models before purchasing. Assessment of market trends indicates that the facility of home delivery provided by online sales channel is contributing to the proliferation of the bicycle lights market.
By Sales Application :
Based on the application, the market is trifurcated into road bicycle, mountain bicycle, and commuting bicycle. The road bicycle segment accounted for the largest revenue share in the year 2022. The surge in the number of road accidents and collisions is driving the expansion of the the market. Consumers are increasingly purchasing additional accessories such as front and rear lights in order to maintain safety during commuting. Bicycle lights play a crucial role in providing visibility especially during night and in winter seasons. Assessment of market trends indicates that the government is also taking initiatives to promote the adoption of lights in bicycles for safety and security of the cyclist, resulting in the proliferation of bicycle lights market.
The mountain bicycle segment is projected to register fastest CAGR growth during the forecast period. The lights used in mountain bicycles produce light beam in spot and flood patterns to illuminate the road in conditions of fog, smoke, or pollution. Spot patterns highlight details in front whereas flood patterns disperse the light over a wider area, thereby increasing the area of visibility. Moreover, the adoption of battery-powered bicycles for long-distance travelling in hilly areas is further contributing to the market expansion.
By Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Europe accounted for the largest revenue share in the year 2022. Europe has a strong cycling culture with several countries and cities promoting cycling as the sustainable and healthy mode of transportation. Cyclists in the region are recognizing the importance of maintaining safety and visibility on roads. Analysis of bicycle lights market trends concludes that the increasing demand for bicycle accessories such as headlights and taillights to provide road safety is accelerating the proliferation of the regional market.
North America accounted for the revenue share of USD 98.40 million in 2022 and is expected to reach USD 197.11 million by 2030, registering CAGR of 9.4% during the forecast period, 2023-30. In addition, in the region, United States accounted for the maximum revenue share of 47.3% in the year 2022. The increasing tourism activities in North America is driving the expansion of the the market. North America boasts a diverse range of tourist attractions that increases the demand for bicycles for recreational and adventure activities. The bicycle lights market analysis concluded that the increasing tourism activities in North America is driving the proliferation of bicycle lights market. For instance, according to SFIA Foundation, in 2021, the number of participants in road surface biking amounted to approximately 42.78 million. Moreover, governments and tourism boards in North America to promote the region as the tourist attraction, resulting in the market expansion.
Top Key Players & Market Share Insights:
The bicycle lights market is highly competitive with major players providing headlights, taillights, and frame lights to the national and international markets. The major companies operating in the bicycle lights industry are adopting several strategies in product innovation, research, and development (R&D), and various business strategies, and application launches have accelerated the expansion of the market. Key players in the market include -
- BBB Cycling
- Dinotte Lighting
- Garmin
- Knog
- Kryptonite
- Lezyne
- Lupine
- Princeton Tec
- Trek Bicycle Corporation
Recent Industry Developments :
- In December 2022, Spanninga launched bicycle frames featuring COD LED technology for front and rear lights to provide visibility in dark conditions.
- In March 2022, Fenixlight Limited launched high-performance rechargeable flashlight called TK20R V2.0 providing visibility in dark conditions.
Key Questions Answered in the Report
What is Bicycle Light? +
Bicycle lights are the additional equipment deployed in-front and back of the bicycles to provide improved visibility to the riders and fellow cyclists.
What specific segmentation details are covered in the bicycle lights report, and how is the dominating segment impacting the market growth? +
The report consists of segments including voltage, mounting type, technology, sales channel, and application. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by technology has witnessed LED as the dominating segment in the year 2022, due to energy-efficiency, long-lifespan, and compact size of LED lights.
What specific segmentation details are covered in the bicycle lights market report, and how is the fastest segment anticipated to impact the market growth? +
The report consists of segments including voltage, mounting type, technology, sales channel, and application. Each segment is projected to have the fastest-growing sub-segment being fueled by industry trends and drivers. For instance, by sales channel segment has witnessed online as the fastest-growing segment during the forecast period due to the convenience and easy of comparing different models and prices.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030? +
North America is expected to register fastest CAGR growth during the forecast period due to the growing tourism industry in the region.
