Bicycle Lights Market to Grow at 8.6% CAGR from 2023 to 2030; Lezyne Partnered with Aspire Sports to Strengthen Market Foothold

The global bicycle lights market size stood at USD 343.46 million in 2022. The market value is slated to rise from USD 368.02 million in 2023 to USD 653.67 million by 2030 at a CAGR of 8.6% during 2023-2030. The rise is on account of the growing environmental concerns and urbanization. Additional factor impelling industry expansion is the growing usage of power lights for adventure and mountaineering purposes.

Fortune Business Insights™ presents this information in its report titled “Bicycle Lights Market Size, Share & COVID-19 Impact Analysis, By Technology (Electric and Conventional), By Voltage (Up to 12 V, 36 V, and 48 V), By Mounting Type (Headlight and Taillight), By Sales Point (Online and Retail), and Regional Forecast, 2023– 2030”.

Rising Product Sales Propelled Industry Expansion During the Pandemic Period

The pandemic registered an increase in product sales considering the escalating inclination of consumers toward both mobility and personal fitness. The period recorded an upsurge in social distancing norms following the enforcement of restrictions on access to sports arenas and gyms. This led people adopt cycling as an alternate way of personal transportation and exercising.

Lezyne Entered into a Collaboration with Aspire Sports to Strengthen Industry Footing

In September 2022, Lezyne inked a partnership agreement with Aspire Sports. The deal is focused on combining one of the most modern and innovative distributors in Central Europe with the industry’s leading manufacturer of cycling accessories.

The collaboration would enable Lezyne to reach more customers in expanding the Poland market. The deal would further help in assuring high-quality service and sales in the Polish market.

Soaring E-Bike Penetration to Boost Industry Expansion

The bicycle lights market growth is being impelled by the escalating penetration of e-bikes across various countries. This is mainly driven by the soaring outdoor and recreational exercise trends in countries such as the U.K., Germany, Norway, and the Netherlands. The market expansion is further propelled by increasing consumer preference for greener e-mobility over the usage of public transport.

However, the industry growth could be hindered by the lack of biking infrastructure in developed countries such as Australia, Russia, and Hong Kong, owing to issues associated with traffic congestion.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/bicycle-lights-market-104106

Pivotal Players Enter into Collaborative Deals to Strengthen Industry Footing

Major industry participants are centered on adopting a range of strategic steps for strengthening the positions of their businesses. These comprise R&D activities, merger agreements, partnerships, and others. Additional steps include acquisitions, collaborations, and the formation of alliances.

Key Players Profiled:

• Trek Bicycle Corporation (U.S.)
• Knog (Australia)
• Lupine Lightning Systems (Germany)
• Princeton Tec. (U.S.)
• Dinotte Lighting (U.S.)
• Garmin (Switzerland)
• Lezyne (U.S.)
• Kryptonite (U.S.)
• Cygolite (U.S.)
• BBB Cycling (Netherlands)

Notable Industry Development

• July 2022 – Garmin Ltd. rolled out two new solutions dubbed the Varia RCT715 and the Edge 1040 Solar. The Edge 1040 Solar solution uses solar energy for charging and offers various details to the rider.

Further Report Findings

• Based on geography, the market for bicycle lights is categorized into North America, Asia Pacific, Europe, and the rest of the world.
• The Europe bicycle lights market share is anticipated to exhibit remarkable expansion throughout the forecast period. The rise is propelled by the surging e-bike adoption in the region.
• The North America market is touted to register considerable growth over the forecast period. The escalation is on account of soaring awareness associated with the safety of bike riders.
• Based on voltage, the market for bicycle lights is classified into up to 12 V, 36 V, and 48 V. The up to 12 V segment is slated to register considerable growth throughout the study period.
• By mounting type, the market is fragmented into headlight and taillight. The headlight segment is poised to depict a substantial upsurge over the projected period. The expansion is due to the soaring rider safety preference during night rides.
• Considering sales point, the market is subdivided into retail and online. Of these, the online segment is expected to register lucrative growth throughout the forecast period.

Table of Segmentation