The global bicycle lights market is expected to grow at a CAGR of close to 9% during the forecast period, 2017-2021.
Technavio has announced its latest market research report on the global bicycle lights market, under its automotive electronics portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like CatEye, Lezyne, Mujo International, and NiteRider.
According to Siddharth Jaiswal, a lead analyst for automotive electronics research at Technavio, “Competitions conducted by organizations like the Wessex Cyclo-Cross League and events like the Eastbourne Cycling Festival encourage more people to take up biking. The growing interest in cycling is spurring riders to adopt innovations and additional fittings that can enhance the experience of cycling better. Lighting makes it possible for the rider to have a better view of the way ahead and helps identify different signs on the road.”
Major factors increasing the popularity of cycling are increased awareness about the personal health benefits and environmental benefits it provides. Urbanization is also playing an important role, as cities are getting more crowded. Increase in traffic jams is another factor resulting in the growth of cycling. Moreover, along with exercising in the gym, swimming, and hiking, cycling is becoming popular as a sports activity.
Growth in online retail
Quick delivery services and competitive selling prices are the major factors that work in favor of the online retailing segment worldwide. In terms of distribution of bicycles lights, online retailing is expected to be one of the fastest growing channels between 2015 and 2018. Small and local vendors are finding success in reaching premium customers by making their products available online, and thus available to a wider consumer base. Consumers are also attracted to the wide range of products available online. Online portals such as eBay and Amazon are providing bicycle lights to consumers worldwide.
Introduction of lasers in bicycle lighting
Normal headlights, which are available in the bikes, are of 300 lumens and shine brightly to increase the visibility. A laser is also mounted in the front light that projects 15 meter down the road to alert the cyclist, thus increasing the safety measure. The laser, though is a costly feature, is introduced by players like Blaze and is a predominant feature that can help increase the importance of the headlights.
This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
Other related reports:
- Global Automotive V2X Antenna Market 2017-2021
- Global Marine Wind Sensor Market 2017-2021
- Global Two-wheeler Throttle by Wire (TBW) System Market 2017-2021
To read more press releases – click here