Research Nester published a report titled “Bicycle Lights Market: Global Demand Analysis & Opportunity Outlook 2033” which delivers detailed overview of the global bicycle lights market in terms of market segmentation mounting type, bicycle type, point of sale, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global bicycle lights market is anticipated to grow with a CAGR of ~8% during the forecast period, i.e., 2023-2033. The market is segmented by end-user into kids, men and women. Out of these segments, the kids segment is anticipated to garner the largest market share over the forecast period, owing to the increasing demand for bicycles by kids. In addition, demand of bicycle by teenagers is also expected to boost the growth of the segment in the coming years.
The global bicycle lights market is estimated to garner a revenue of 700 billion by the end of 2033, backed by the increasing demand of bicycle lights owing to rising bicycle tourism worldwide. Various features provided by bicycle lights, besides illumination includes visibility to oncoming traffic are also projected to boost sales of bicycle lights in the coming years. Moreover, increasing health benefits awareness as well as surge in the spending on cycling infrastructure is also projected to propel the growth of the market during the forecast period.
Geographically, the global bicycle lights market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Out of these, the market in Asia Pacific is estimated to garner the largest market share over the forecast period, owing to the rising penetration of bicycles. Apart from this, the market in Europe is anticipated to register significant growth in the coming years.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Increasing Demand for Bicycle to Drive the Market Growth
According to the data, there will be approximately 5 billion bicycle around the globe by 2050.
The growing use of bicycle is expected to accelerate the market growth in the coming years, as people are becoming more aware and conscious about the benefits of cycling on health, environment and planet earth as a whole. Moreover, the increasing number of innovative & technological advanced lights as well as the rising demand for mountain bikes and other types of bicycles are also expected to drive the growth of the global bicycle lights market during the forecast period.
However, the lack of safe cycling infrastructure along with availability of alternate high-speed transport solutions are expected to operate as key restraints to the growth of global bicycle lights market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the of global bicycle lights market which includes company profiling of Lezyne, USA Inc., Fenixlight Limited, Gaciron Technology, Cateye Co., Ltd., Focus Technology Co., Ltd., Lord Benex International Co., Ltd., Knog Pty Ltd, Vista Outdoor Inc., NiteRider Technical Lighting Systems, Garmin Ltd. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the of global bicycle lights market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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