Global Two-Wheeler Lighting Market growing at a CAGR of 3.3% from 2023 to 2030
Category : Automotive Services | Published Date : Jun 2023
Key Market Overview
The Global Two-Wheeler Lighting Market was valued at USD 437.81 Million in 2022 and is expected to register a compound annual growth rate of 3.3% to reach USD 556.48 Million in 2030.
The report highlights the increasing demand for riders' safety due to the growing incidents of collisions and accidents on roads. Consegic Business Intelligence provides an inclusive research report on the two-wheeler lighting market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Two-Wheeler Lighting Market By Overview
The report analyses significant segments such as vehicle type, light type, sales channel, application, and region, to identify emerging trends and potential opportunities. The light type segment is expected to grow due to the growing adoption of LED lights in two-wheeler such as motorcycles, scooters, and bicycles. The adoption of LED headlights, taillights, and indicator lights due to energy-efficiency and long-lifespan of LED is driving the growth of the market. Moreover, the growing adoption of xenon lights to provide focused and a sustained beam of light is further accelerating the growth of the market.
Get Free SampleMarket Dynamics
Driver:
- The rising sales of two-wheeler for urban mobility is propelling the market growth.
- The increasing adoption of advanced lighting systems in two-wheeler to maintain road safety is accelerating the growth of the market.
- The growing adoption of LED lights to enhance the aesthetic appeal of two-wheeler is accelerating the growth of the market.
Restraints:
- The complex integration process of HID lights into the two-wheeler lightings systems is restraining the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Vehicle Type | Motorcycles, Scooters, Mopeds, and Others |
| By Light Type | Halogen, Xenon, and LED |
| By Sales Channel | OEM and Aftermarket |
| By Application | Laptops, Mobile Phones, Tablets, Cameras, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global two-wheeler lighting market is highly competitive due to the presence of major players such as Fiem Industries Limited, J.W. Speaker Corporation, Koninklijke Philips N.V., Motolight, Osram Licht AG, Stanley Electric Co. Ltd., UM Group operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in two-wheeler lighting market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Fiem Industries Limited
- J.W. Speaker Corporation
- Koninklijke Philips N.V.
- Motolight
- Osram Licht AG
- Stanley Electric Co. Ltd.
- UM Group
- UNO Minda
- Varroc Group