Two-Wheeler Lighting Market Size, Share, Growth, And Industry Analysis By Type (Halogen Lights, LED Lights, Others) By Application (Motorcycle Headlight, Motorcycle Rear Light, Indicators, Others), Regional Insights, and Forecast To 2032

Updated On: 08 April 2024

Two-Wheeler Lighting Market Report Overview

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The global two-wheeler lighting market size was USD 1360 million in 2023 and market is projected to touch USD 2076.9 million by 2032, at a compound annual growth rate (CAGR) of 4.5% during the forecast period.

Bike lighting framework gives clear perceivability to bike riders through haziness, mist, exhaust cloud, and terrible atmospheric conditions. A large number of bike lighting innovations permit riders and other individual drivers as well as walkers to know others' situations on street - forestalling mishap occurrences.

The reason for a two-wheeler lighting framework is to give great vision to bike riders in case of haziness, mist, contamination, or serious weather pattern. Riders and different drivers, too as walkers, can see each other's areas out and about as a result of the accessibility of various bike lighting arrangements, which help to forestall mishaps. This enlightens the street for the driver and upgrades vehicle's perceivability, letting different vehicles and people on foot see the vehicle's area, size, heading of movement, and the driver's aims for bearing and speed of development. Crisis vehicles are outfitted with interesting lights to caution drivers and sign traffic stream need. Bike lighting can be grouped into different classes in view of the radiating guideline, for example, incandescent lamps, xenon lights, and Drove Lights.

COVID-19 Impact: Lockdown Limitations Lowered Market Development

Coronavirus pandemic impacted store network, creation and request on the lookout. Auto industry was impacted seriously during pandemic because of lockdown limitations. Close down of numerous businesses and drop in the cost of electronic items are projected to hamper market development. Loss of pay and remain at-home guidelines altogether impacted item interest. Close down of a few open-air places, for example, cinema influenced item interest. Conclusion of assembling units and absence of accessibility of representative or work decreased market development.

In actuality, telecommute polices is supposed to advance brilliant home items are assessed to drive market development. Developing interest for digitalization during the pandemic to supported market development.

Latest Trends

"Raising DRL Fame Focuses to Further developing Situation for LED in Bike Lighting Business sector"

Noticeably fast progressing of DRLs (daytime running lights) from halogen to LED as far as source features the capability of LED observer vigorous development soon. In any case, notwithstanding the bike lighting market holds solid possibilities for LED, halogen actually drives the standard choice of bike lighting. Throughout the following couple of years, LED is supposed to represent north of one-fourth portion of the complete bike lighting market esteem. With consistent DRL reception by bike proprietors pushing LED situations, it will additionally reinforce with a selective utilization of LED in consecutive turn lighting

Two-Wheeler Lighting Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Halogen Lights, LED Lights, Others. Halogen Lights being the leading segment of the market by type analysis.

• By Application Analysis

Based on application, the market can be divided into Motorcycle Headlight, Motorcycle Rear Light, Indicators, Others. Motorcycle Headlight being the leading segment of the market by application analysis.

Driving Factors

"Fixing Administrative Standards Focusing on Vehicle Security and Mishap Counteraction to Drive the Market Growth"

The advancing tension of meeting ongoing guidelines is supposed to constrain bike and bike lighting makers to continually put resources into the Research and development of imaginative bike lighting advancements. This is probably going to give the bike lighting market a significant push through the not-so-distant future. As well as relieving the stylish and practical requests of bike proprietors, members in the bike lighting market are progressively zeroing in on planning reasonable and energy-productive bike lighting frameworks.

"Lighting Innovation to Drive the Market Growth"

Developing interest for assistant bike lighting that enhancements and supplements the front lamp is predicted to raise the standpoint of the bike lighting market soon. Significant distance/rough terrain landscape/bold bicycle riders need to fill in the holes left by OEMs in the event of the front lamp, which further raises the interest for helper bike lighting, for example the reinforcement enlightenment source.

Restraining Factors

"Hight Cost to Hamper Market Development"

For the vehicle lighting area, significant expense of LED lights is a significant issue. Presentation of new advances would bring about less utilization of more established innovations like halogen and xenon/Stowed away. Incandescent lamps have the significant issue of overheating and squandering energy, yet xenon lights are more muddled and take more time to arrive at greatest splendor. LED, then again, is minuscule and adaptable, considering a great many shapes and examples. It utilizes less energy than halogen and produces a more splendid light. Because of greater expense of LED contrasted with different advances, it is just utilized in very good quality or extravagance vehicles. Cost of LED is because of its high assembling cost. The costliest substrates for producers incorporate indium gallium nitride, aluminum gallium indium phosphide, and aluminum gallium arsenide. In contrast with conventional lights that necessary reflectors, LEDs are currently used with a projector. Reflector headlights are less exorbitant than projector headlights, be that as it may, these occupy more inside room

Two-Wheeler Lighting Market Regional Insights

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"Developing Automobile Sector in North America Increasing its Market Share"

North America arose as the predominant local market for bike lighting in 2020, representing the biggest income share. The locale's developing per capital pay levels, great eco-friendliness, basic funding decisions, last mile conveyance for the online business industry, positive government strategy for ranchers, and changing customer inclination are adding to quick income development in the district.

Over the projected period, Asia Pacific bike lighting market is supposed to extend at the fastest rate on account of quick client take-up and expanding auto deals. China and Japan are expected to be the significant development supporters in this market, attributable to high homegrown vehicle creation and deals in the two districts. Because of high risk of unexpected harm and rising interest in China for the change from halogen to Drove lights and mechanically complex lighting, these nations are adding to development of the Asia Pacific market. In India, for example, bike industry as of now represents 80% of the complete auto yield. The introduced limit of Indian bike makers is in excess of 25 million units. Because of the immense size of populace and expanding request, bike lighting market in India is supposed to grow at a high-speed concerning income all through the figure period.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Unitech (Taiwan)
• Varroc Lighting (China)
• Stanley (Japan)
• Lumax (India)
• Boogey (U.S.)
• Uno Minda (India)
• Ampas Lighting (U.S.)
• J.W. Speaker (U.S.)
• Motolight (U.S.)
• FIEM Industries (India)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.