According to the latest report by IMARC Group, titled “Motorcycle Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global motorcycle lighting market size reached US$ 12.8 Billion in 2022. Motorcycle lighting refers to the component and system installed on motorcycles to provide visibility, enhance safety, and improve the overall aesthetics of the vehicle. It includes headlights, taillights, turn signals, brake lights, and auxiliary lights that serve multiple purposes, such as illuminating the road ahead, signaling the rider's intentions to other motorists, and increasing the visibility of the motorcycle during daytime and nighttime riding. Beyond functionality, it also contributes to the style and personalization of the bike, allowing riders to customize their motorcycles with different lighting configurations and designs. With the advancement of technology, motorcycle lighting has evolved from traditional incandescent bulbs to more efficient and durable options, providing brighter illumination and longer lifespan.
Global Motorcycle Lighting Market Trends:
The escalating demand for motorcycle lighting among the masses majorly drives the global market. This can be supported by rising urbanization, improved road infrastructure, and the growing popularity of leisure and adventure motorcycling among individuals. As the number of motorcycles on the road increases, the need for effective lighting systems becomes crucial to ensure rider safety and visibility., thus influencing the demand. Additionally, the stringent government regulations mandating the use of specific lighting configurations and safety standards for motorcycles contribute to the market. Moreover, the shifting consumer preferences towards customization and personalization of motorcycles have led to a rise in the aftermarket sales of motorcycle lighting, as riders seek to enhance the aesthetics and individuality of their bikes. Along with this, the widespread adoption of advanced lighting technologies, such as LED and HID lights, continues to gain traction in the market due to their energy efficiency, longer lifespan, and superior illumination properties. Furthermore, continuous advancements in lighting technology and the increasing focus on rider safety, are creating a positive market outlook. Looking forward, the market value is projected to reach US$ 26.6 Billion by 2028, expanding at a CAGR of 12.8% during 2023-2028.
- Based on the product, the market has been segmented into light-emitting diode (LED), halogen, discharge gas, incandescent, and xenon lamps. Among these, halogen lamps dominate the market, holding the largest share.
- On the basis of the application, the market has been divided into head, tail, turn signal, and other lights. Currently, head lights represent the largest segment.
- Based on the sales channel, the market has been segregated into original equipment manufacturers (OEMs) and aftermarket. Amongst these, original equipment manufacturers (OEMs) represent the largest segment.
- Region-wise, the market has been segmented into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Presently, Asia Pacific is the leading market, accounting for the majority of the global share.
- The competitive landscape of the market has also been examined, with some of the key players being Fiem Industries Limited, J.W. Speaker Corporation, Koninklijke Philips N.V., Motolight, Osram Licht AG (ams AG), Stanley Electric Co. Ltd., UM Group, UNO Minda and Varroc Group.
|Base Year of the Analysis
||Product, Application, Sales Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Fiem Industries Limited, J.W. Speaker Corporation, Koninklijke Philips N.V., Motolight, Osram Licht AG (ams AG), Stanley Electric Co. Ltd., UM Group, UNO Minda, Varroc Group, etc.
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