The global LED bike light market is anticipated to grow at a CAGR of 4.3% during the forecast period (2022-2028). Rider safety and protection have become increasingly important as a result of the growing bicycle sporting culture, continuous increase in bicycle fleet, and rising demand for sports and mountain bicycles. LED bike lights are expected to become popular in the bicycle accessory due to heavy traffic and congestion, the growth of bicycle industries has resulted in a greater adoption of bicycle accessories. This supports in providing safety to the rider and improve the quality of the riding experience. Bicycle accessories such as brakes, LED lights among others are expected to play an important role in the expanding LED bike Lights market growth. Due to the growth of the bicycle industry and the ease with which products are available, demand for LED bike lights has recently increased. The rise in bicycle racing events and bicycle riding organizations has created new opportunities for the LED bik lights market to grow.
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Furthermore, modern lifestyles and hectic schedules force people to work without exercise and eat junk food, which leads to obesity or overweight owing to keep attention the health people are opting for night riding and exercising by bikes owing to which the demand of the LED bike lights is increasing. Meanwhile, a healthier, more environmentally friendly lifestyle is gaining popularity, and people are becoming more aware of the dangers of obesity across the globe. Thus several studies show that bicycling burns 500–700 calories per hour people are preferring more towards bicycles. The majority of countries have adopted bicycle riding as an effective method of fat loss and body mass maintenance. As a result, rising consumer awareness increases demand for mountain bicycles, fueling the growth of the LED bike Lights market. Major population across the globe, nowadays prefer to travel the globe and to do activity in night time owing to them they are mostly investing on the LED lights for their vehicles to look attractive at the night also. Cyclists must install bicycle lights in order to ride a bicycle on a public road after dark, and this requirement will drive demand for LED bike lights, creating a growth opportunity.
Manufacturers are optimistic that local governments will enact concrete policies to make global cities more bicycle-friendly and to build supportive infrastructure in urban areas. Cycle tourism is assisting in the promotion of the bicycle industry. The construction of cycle tourism projects in various countries has increased globally in order to generate a good source of revenue for the country. As a result, tourism activities provide a significant opportunity for the global LED bike light market.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- OSRAM, SANGUAN, Saxo Group, Shenzhen FeiRui Lighting Co., Ltd., and WORLD PROMOS INC.(S.K.L), among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global LED Bike Light Market Report by Segment
By Type
- Bicycle Rear Light
- Bicycle Signal Light
- Bicycle Sport Light
- Other
By Application
- Mountain Bike
- Road Bike
- Other
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