Germany bicycle lights market is estimated to grow at a CAGR of 8.9% from 2022 to 2032. Concerns about traffic congestion in China to drive demand for LED bicycle lights. Strong demand for folding bikes in the United States to drive bicycle headlight sales.
NEWARK, Del, Nov. 03, 2022 (GLOBE NEWSWIRE) — During the 2022-2032 forecast period, the bicycle lights market should grow to a CAGR of 7.1%. The market should reach a valuation of more than US DOLLARS$ 2,454.7 min by 2032, estimates Future Market Insights (IMF).
The bicycle lights market is expected to be boosted by the increasing popularity of bicycles among health and environment conscious people. The adoption of bicycles is increasing alongside the urgent need for more environmentally friendly means of transportation, which is driving the market for bicycle lights. The market is also expanding due to the growing demand for high quality and robust bicycle lights.
Due to the growing demand for safety and security, the market for bicycle lights is expected to grow significantly over the next ten years. Bicycle adoption is also on the rise in many parts of the world due to increased transportation needs.
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The use of various types of bicycle lights has gradually increased due to the growing awareness of their importance among cyclists who use them to get around, as well as those who ride on mountain trails where these lights are vital for the visibility. Growth rates would further be influenced by increasing urban population and high levels of disposable income over the projection period.
Main takeaways from bike light Market research
Depending on the type of mounting, it is estimated that the headlights represent more than 65.7% of the global bicycle lights market share by the end of 2032.
Based on the type of bike, the e-bike segment is expected to contain more than 72% of the global bicycle lights market share by 2032.
By sales channel, the OEM segment is expected to create an absolute dollar opportunity of $1,115 min during the forecast period.
During the forecast period, the bicycle lights market in the United States is expected to create an additional opportunity of almost $14.4 min.
By the end of 2032, East Asia is expected to generate the largest Bicycle Lights market share of around 57.2%.
“Due to changing lifestyles and increasing knowledge of health benefits, cycling has gained immense popularity as a sports and exercise activity in recent years. As a result, there are many technically advanced bicycles today with features such as lights and reflectors for the convenience of riders,” said an analyst from Future Market Insights.
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Competition Countryside: Bicycle light market
Garmin Ltd., Cygolite, Cateye Co., Ltd., GACIRON, Goldmore Co., Ltd., Lord Benex, Knog, Smart Bike Light, NiteRider Technical Lighting Systems, Blackburn, Schwinn, Serfas, Lezyne, Sense. and LEDbyLIT are some of the leading companies operating in the global bicycle lights market.
Major manufacturers are focusing on increasing their regional presence and engaging in the distribution of their in-house products in local markets by expanding their dealer networks. Players also work with local distributors to supply their products worldwide.
Get more exclusive insights into the Bicycle Lights Market
The research report analyzes the trend of market demand for Bicycle Lights. The global market is based on the impact of COVID-19, macroeconomic factors, market trends and market context. According to the research scope of Future Market Insights, the Bicycle Lights market report is studied and analyzed into the following segments such as Mount Type, Bike Type, Sales Channel, and Region. The Bicycle Lights market report gives us qualitative and quantitative insights about the businesses.
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About Future Market Insights Automotive and Transportation Division
FMI’s Automotive and Transportation Division provides exclusive coverage and actionable insights into the automotive and transportation industry encompassing the automotive, aviation, shipping and marine, and rail sectors. Market insights and competitive intelligence from the OEM, aftermarket, service and technology landscape have helped many industry players, automakers, component manufacturers, channel partners and service providers. services, make informed decisions and stay abreast of market behavior.
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Key Market Trends
3.1. Key trends impacting the market
3.2. Product Innovation / Development Trends
4. Key success factors
5. 2017-2021 Global Bicycle Lights Market Demand Analysis and Forecast, 2022-2032
5.1. Historical Market Volume Analysis, 2017-2021
5.2. Current and Future Market Volume Projections, 2022-2032
5.3. Analysis of annual growth trends
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