PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236079
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1236079
Global Bicycle Lights Market is valued at approximately USD 305.4 million in 2021 and is anticipated to grow with a healthy growth rate of more than 8.3% over the forecast period 2022-2029. Bicycle lights are the type of lights that are fixed to bicycles to increase the visibility of the bicycle and its rider to other road users in low ambient light. Additionally, it lights reflecting objects like traffic signs. Powerful lights are necessary for mountaineering and adventure, which helped to increase sales of powerful bike lights in an area where climbing expeditions are common. Additionally, many nations mandate that bicycles be equipped with one or more lights at night. The market growth is poised to be driven by the rising government focus on building cycling infrastructure and favorable regulations, surge in traffic congestion and increasing urbanization around the world.
The growing awareness regarding the adoption of e-bikes are driving the market growth across the globe. According to Statista, it was estimated that the global market for electric bicycles was worth around USD 26.73 billion. Also, it is projected that the demand for e-bikes is on the rise and likely to reach USD 53.53 billion by the year 2027. Moreover, according to the All-India Cycle Manufacturers' Association the bicycle sales climbed by more than 25% in June 2021 compared to the same month in 2019, which exhibits that the sales of standard road bikes and high-end workout bicycles have increased. Consequentially, the surging demand for bicycles in the global market is exhibiting a positive influence on the demand of bicycle lights at a substantial rate. Furthermore, growing environmental concerns among the public, as well as rising initiatives by key market players are creating various lucrative opportunities for the market growth over the forecasting years. However, lack of current biking infrastructure stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Bicycle Lights Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe dominated the market in terms of revenue, owing to the growing focus on maintaining rider safety and the rise in the use of e-bike adoption equipped with bicycle lights. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as rise in environmental concerns, increasing government initiatives to promote cycling, as well as the growing demand for bicycles in the regional market.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable