Global Two-Wheeler Lighting Market Predicted to Reach USD 556.48 Million by 2030
Category : Automotive Services | Published Date : Jun 2024 | Type : Press Release
Two-Wheeler Lighting Market Definition & Overview :
Two-wheeler lighting are lighting system used in motorcycles, scooters, bicycles, and other two-wheelers. Lighting in two-wheelers helps riders navigate on dark roads, even in severe weather conditions like fog, smog, and pollution.
Consegic Business Intelligence analyzes that the Global Two-Wheeler Lighting Market size was valued at USD 437.81 Million in 2022 and is expected to grow at a CAGR of 3.3% to reach USD 556.48 Million by 2030.
This report comprises Two-Wheeler Lighting Market Share, Size & Industry Analysis, By Vehicle Type (Motorcycles, Scooters, Mopeds, and Others), By Light Type(Halogen, Xenon, and LED), By Sales Channel (OEM and Aftermarket), By Application(Headlights, Rear Lights, Indicators, and Others), By Region(North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa), and Forecast, 2023-2030.
This report contains detailed information on Two-Wheeler Lighting Market Trends, Value, Growth Rate, Segmentation, Geographical Coverage, Company Profile, In-depth Expert Analysis, Revenue Forecast, Competitive Landscape, Growth Factors, Restraint or Challenges, Opportunities, Environment & Regulatory Landscape, PESTLE Analysis, PORTER Analysis, Key Technology Landscape, Value Chain Analysis, and Cost Analysis.
As per the report analysis, the technological advancements in lights like the integration of camera sensors, adaptive lighting systems, and rising sales of two-wheelers for urban mobility are key drives for the two-wheeler lighting market growth. The integration of sensors with lighting helps to detect far objects on roads whereas adaptive headlights improve visibility by adjusting to the curves and road conditions.
Segmental Analysis :
The Two-Wheeler Lighting Market is segmented into five major segments based on vehicle type, light type, sales channel, application, and region.
Based on vehicle type, the market is divided into motorcycles, scooters, mopeds, and others.
- The scooters segment generated the largest revenue in 2022, as they are fuel-efficient and convenient for short-distance and are used for urban mobility.
- The motorcycles segment is anticipated to register the fastest CAGR from 2023 to 2023, as several different types of lights used for specific purposes improve visibility on roads.
Based on the light type, the market is trifurcated into Halogen, Xenon, and LED.
- The LED segment held the highest revenue share of 49.70% in 2022, as they consume less power consuming less fuel, are shockproof, vibration resistant, and have a long life span.
- The fastest CAGR growth during the forecasted period is expected to be witnessed by Xenon as they provide better visibility and a longer lifespan.
By sales channel, the market is bifurcated into OEM and Aftermarket.
- In 2022, the OEM segment accounted for the largest revenue share, as the lights are directly installed by manufacturers at the time of production in the two-wheelers.
- The aftermarket segment is anticipated to register the fastest CAGR during the forecasted period as the demand for customization, upgradation, and replacement is rising in consumers.
Based on application, the market is categorized into headlights, rear lights, indicators, and others.
- The headlights segment accounted for the largest revenue share in 2022, as they are the primary lighting component of any two-wheeler.
- The rear light segment is anticipated to witness the fastest CAGR over the forecasted period as they prevent road accidents by providing illumination and better visibility to other travelers.
By region, the market is segregated into regions including North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
- In 2022, the Asia Pacific region accounted for a revenue share of USD 171.67 million and is expected to witness a CAGR of 3.4% from 2023 to 2030. Out of the total revenue share, China alone contributed about 29.8% in 2022 due to an increase in demand for affordable two-wheelers in this region.
- The North American region is expected to register the fastest CAGR over the forecasted period, due to the rise in the usage of energy-efficient electric two-wheelers.
| Report Attributes | Report Details |
| By Vehicle Type | Motorcycles, Scooters, Mopeds, and Others |
| By Light Type | Halogen, Xenon, and LED |
| By Sales Channel | OEM and Aftermarket |
| By Application | Headlights, Rear Lights, Indicators, and Others |
| By Region | North America(U.S., Canada, Mexico) Europe(U.K., Germany, France, Spain, Italy, Russia, Benelux, Rest of Europe) APAC(China, South Korea, Japan, India, Australia, ASEAN, Rest of Asia-Pacific) Middle East & Africa(GCC, Turkey, South Africa, Rest of MEA) LATAM(Brazil, Argentina, Chile, Rest of LATAM) |
Top Key Players & Competitive Landscape :
The competitive landscape encompasses major innovators, aftermarket service providers, industry giants, and niche players, all of which are thoroughly examined by Consegic Business Intelligence in terms of their strengths, weaknesses, and value-addition potential. Additionally, this report includes detailed profiles of key players, market share analysis, mergers and acquisitions, resulting market fragmentation, and emerging partnership trends and dynamics.
List of prominent players in the Two-Wheeler Lighting Industry :
- Fiem Industries Limited
- J.W. Speaker Corporation
- Koninklijke Philips N.V.
- Motolight
- Osram Licht AG
- Stanley Electric Co. Ltd.
- UM Group
- UNO Minda
- Varroc Group
Recent Industry Developments :
- In September 2022, X2F collaborated with Covestro for the development of in-mold electronics for automotive lighting applications.
