Portland, OR, Jan. 10, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global bicycle lights market garnered $356.2 million in 2021, and is estimated to generate $772.3 million by 2031, manifesting a CAGR of 8.2% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
Download Free Report Sample - https://www.alliedmarketresearch.com/request-sample/32309
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $356.2 million |
| Market Size in 2031 | $772.3 million |
| CAGR | 8.2% |
| No. of Pages in Report | 213 |
| Segments covered | Technology, mounting type, bicycle type, application, and region |
| Drivers | Government regulations to encourage adoption of bicycle lights |
| Increase in fuel costs | |
| Rise in interest in cycling as a fitness & recreational activity | |
| Rising adoption of e-bicycles | |
| Opportunities | Improvement in bicycling infrastructure |
| Restraints | Lack of bicycle infrastructure |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global bicycle lights market, owing to implementation of global lockdown, travel restrictions, and social distancing norms.
- Curfew practices globally affected the domestic as well as international production and sales of bicycle lights, which, in turn, hampered the growth of the overall market.
- Nevertheless, the global bicycle lights market is expected to grow at a significant rate, owing to increased adoption of bicycles and electric bicycles across the globe in the post-pandemic.
The research provides detailed segmentation of the global bicycle lights market based on technology, mounting type, bicycle type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on technology, the LED segment held the highest share in 2021, accounting for more than 90% of the global bicycle lights market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is expected to register the highest CAGR of 8.3% from 2022 to 2031.
Based on mounting type, the head light segment accounted for the highest share in 2021, contributing to more than two-thirds of the global bicycle lights market, and is expected to maintain its lead in terms of revenue during the forecast period. In addition, the same segment is expected to manifest the highest CAGR of 8.7% from 2022 to 2031.
Interested to Procure the Research Report? Inquire Before Buying - https://www.alliedmarketresearch.com/purchase-enquiry/32309
Based on application, the commuting bicycle segment accounted for the highest share in 2021, holding nearly three-fifths of the global bicycle lights market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is estimated to grow at the highest CAGR of 8.7% during the forecast period.
Based on region, Europe held the largest share in 2021, contributing to more than two-fifths of the global bicycle lights market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 8.9% during the forecast period. The research also analyzes regions including North America, LAMEA, and Asia-Pacific.
Leading market players of the global bicycle lights market analyzed in the research include Cateye Co., Ltd., Cygolite Co, Gaciron Technology, Trek Bicycle Corporation, Garmin Ltd., BBB Cycling, Lupine Lighting Systems GmbH, Lezyne USA Inc, Princeton Tec, Lord Benex International Co., Ltd.
The report provides a detailed analysis of these key players of the global bicycle lights market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Buy Complete Report Now - https://bit.ly/3vTiMP6
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
