Two Wheeler Lighting Market : Introduction
Lighting is an integral component of every car because it allows a driver to avoid bumps and pits in the night-time road and provides safety to drivers in adverse weather conditions. LED lights that are energy-efficient and energy-efficient can be used to reduce the use of energy; typical kinds of lighting for two-wheelers include Halogen, LED, and xenon. The rise in the demand for motorcycles, the growth in disposable income, as well as the increase in spending by customers across the globe, are expected to propel the two-wheeler lighting market over the forecast time.
The Global Two-wheeler Lighting Market Forecast:
The two-wheeler lighting market was estimated at 4287.2 million USD in 2020. It is projected to grow to 3583.5 million USD in 2026. It is expected to grow by a CAGR of -2.5% between 2021 and 2026.
The Global Two-wheeler Lighting Market Overview:
The global two-wheeler lighting market was remarkably robust in 2020 and will grow at a steady rate during the forecast time. The main factors that drive growth in market revenues are an increase in the adoption rate of two-wheelers, increased disposable income, increasing demand for trendy bikes, growth in travel for short distances, and the implementation of stringent rules and regulations established by governments of different nations.
The function of the two-wheeler lighting system is to provide clear vision to riders on two wheels in the case of fog, darkness, pollution, or any other severe weather conditions. Drivers and riders, and pedestrians can be aware of their respective positions on the road due to the wide range of two-wheeler lighting options that can help avoid accidents. The roadway is illuminated for the driver and increases the visibility of the vehicle. It lets pedestrians and cars observe the location of the vehicle and size, as well as the directions of travel as well as the driver’s intentions regarding the direction and speed of movement. Emergency vehicles come with distinctive lights that warn drivers and indicate the priority of traffic flow. Two-wheeler lights are divided into different groups based on the emission principle, including lighting with xenon, halogen lights, and LED lights.
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Market Trend and Dynamics of the Global Two-wheeler Lighting Market:
Major Factors Driving Growth Of The Global Two Wheeler Lighting Market:
The worldwide two-wheeler lighting market is primarily driven by safety concerns and increased awareness, and an increased amount of accidents. The presence of lights on a bicycle increases visibility and allows the rider to see reflective objects along the roads. This includes traffic signals, roads, road lines, or even animals’ eyes. A reflection in the mirror could aid a cyclist in avoiding an accident. Bicycle lights are now an official requirement in certain areas. The driver of the car may use the indicators and lights on the rear of the vehicle to see if it is able to pass or if the cyclist will turn left or left. The red indicator or backlights help determine if the vehicle is an automobile on two wheels or another that is in hazardous weather conditions or at night. They also help determine the speed at which the vehicle is moving. Rapid growth in population and the need for two-wheelers to cover in small amounts every day will drive demand for these vehicles which in turn will drive the need for light.
Factors Restraining Growth Of The Global Two Wheeler Lighting Market:
For the lighting industry in automotive, the high price of LED lighting is a major issue. The introduction of new technologies will cause a reduction in the use of old technologies like the halogen lamp and xenon/HID. Halogen light bulbs have the primary problem of overheating, which can result in wasted energy, while xenon light sources are more complicated and require longer to achieve maximum brightness. LED, On the other hand, is tiny and flexible, which allows for many different forms and patterns. It requires less energy than halogens and produces brighter light. Because of the high cost of LED in comparison to other technology, it is only utilized in high-end or luxury automobiles. The high cost of LED is due to its expensive manufacturing cost. For manufacturers, the most expensive substrates consist of aluminum gallium indium phosphide, indium gallium nitride, and aluminum gallium arsenide. When compared with traditional lights, which require reflectors, LEDs are now used in conjunction in conjunction with a projection. Reflector headlights are cheaper than headlights for projectors, but they take up larger interior spaces.
Opportunities For Players Operating In The Global Two Wheeler Lighting Market:
LED is expected to contribute over an overall quarter market for two-wheeler lighting size in near time. The continuous DRL adoption by owners of two-wheelers is pushing LED lighting and will be enhanced further by the exclusive usage of LED in sequential turn lighting.
The advancement of semiconductor technology is aiding companies in the creation of efficient LED systems for the next generation. By providing the driver with greater visibility, modern high-end LED headlights increase the safety of roads. Additionally, it contributes to the driver’s visibility be improved. The light consumes less energy and produces less CO2 because it generates less heat.
The Key Market Segmentation of the Global Two-wheeler Lighting Market:
Global Two-wheeler Lighting Market can be divided into Product Types, Packaging Types, Vehicle Type, Applications, and Geographical landscapes, etc.
Two-wheeler Lighting Market Segmentation By Product Type:
Halogen Lights
LED Lights
Xenon
Others
Two-wheeler Lighting Market Segmentation By Application:
Motorcycle Headlight
Motorcycle Rear Light
Indicators
Others
Two-wheeler Lighting Market Segmentation By Vehicle Type:
Motorcycles
Moped
Scooters
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Two-wheeler Lighting Market Segmentation By Geographical Landscape:
North America
Europe
Asia Pacific
South America
Middle East and Africa
Major Key Players in the Global Two-wheeler Lighting Market Are:
- Unitech
- Koito
- Stanley
- Bruno/Zadi Group
- Varroc Lighting
- ZWK Group
- Motolight
- Lazer Lamps
- FIEM Industries
- Hella
- Boogey
- Minda
- Ampas Lighting
- IJL (Lucas TVS and Koito India)
- Federal Mogul
- Lumax
- Cobo
- Rinder
- W. Speaker
- Others
The Global Two-wheeler Lighting Market Report Highlights:
In April 2019, Hella did a strategic collaboration with Wuling Automotive Industry (the secondary company of Chinese Guangxi Automobile Group. Both the companies have been planning to collaborate on automobile lighting technology, with a specific focus on the development of volume headlights for the Chinese market.
In April 2020, Valeo distributed its expenses across its entire activities by hiring part-time workers. For the support functions, including R&D as well as administration, the company varied its spending. It also reduced expenditures and investments that were not essential to the survival of the business.
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