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. Looking forward, IMARC Group expects the market to reach US$ 26.6 Billion by 2028, exhibiting a growth rate (CAGR) of 12.8% during 2023-2028.
Motorcycle lighting refers to illuminating devices that provide visibility to riders traveling in dense and dark environments. It includes the tail, turn signal, brake, accessory, head, auxiliary, accent, and styling lights. Motorcycle lighting consists of various light sources, such as xenon high-intensity discharge (HID), incandescent, halogen, and light-emitting diode (LED) lamps. It is widely used to indicate the direction, alert other drivers and pedestrians, illuminate the road ahead, and provide better visibility during bad weather conditions. As a result, motorcycle lighting assists in preventing accidents, maintaining a safe distance on the road, and enhancing the visibility of the vehicle.
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Motorcycle Lighting Market Trends and Drivers:
The rising adoption of two-wheelers across the globe, owing to their cost-effectiveness, lower fuel consumption, and enhanced mobility, is among the primary factors driving the motorcycle lighting market. Besides this, the elevating product requirement as an essential component of vehicles, as it aids in safe riding, prevents accidents, helps maneuver, and provides visibility during extreme weather conditions, is further augmenting the market growth. Moreover, the growing popularity of LED lighting, on account of its improved safety, lower failure rate, increased illumination, consistent beam pattern, and higher performance than OEM incandescent lamps, is also catalyzing the global market. Apart from this, the launch of adaptive lighting that illuminates dark spots left and right of the main light beam and eliminates dim corners on sharp turns that enhance safety and improve awareness of road hazards is acting as another significant growth-inducing factor. Furthermore, the introduction of laser ray technology that reduces power consumption, provides brighter white light, offers longer high beam throw distance, and does not blind the oncoming drivers is expected to bolster the motorcycle lighting market in the coming years.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
- Fiem Industries Limited
- W. Speaker Corporation
- Koninklijke Philips N.V.
- Osram Licht AG (ams AG)
- Stanley Electric Co. Ltd.
- UM Group
- UNO Minda
- Varroc Group, etc.
Motorcycle Lighting Market Report 2023-2028 Competitive Analysis and Segmentation:
The report has segmented the market based on product, application, and sales channel.
- Light-Emitting Diode (LED) Lamps
- Halogen Lamps
- Discharge Gas Lamps
- Incandescent Lamps
- Xenon Lamps
- Head Lights
- Tail Lights
- Turn Signal Lights
Sales Channel Insights:
- Original Equipment Manufacturers (OEMs)
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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