Two-wheeler Lighting Market is Projected to Reach US$ 48.16 Billion by 2033: Fact.MR Analysis
Growing Preference for Scooters Drives Demand for Two-Wheeler Lighting Innovations
Rockville , Sept. 20, 2023 (GLOBE NEWSWIRE) — According to a detailed study by Fact.MR, a market research and competitive intelligence provider, the global Two-wheeler Lighting Market is valued at US$ 14.44 billion in 2023 and is projected to expand at a robust CAGR of 12.8% from 2023 to 2033.
Two-wheeler lighting plays a crucial role in enhancing the safety and aesthetics of motorcycles, scooters, and other two-wheeled vehicles. This system encompasses various lighting components such as headlights, taillights, turn signals, and auxiliary lights. Factors such as urbanization, traffic congestion, and the need for cost-effective transportation are primarily driving the growth of the two-wheeler lighting market.
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| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2033) | US$ 48.16 Billion |
| Growth Rate (2023-2033) | 12.8% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 297 Tables |
| No. of Figures | 93 Figures |
Extensive adoption of LED lighting technology for two-wheelers is driven by its energy efficiency, longer lifespan, and improved visibility. Manufacturers are increasingly incorporating LEDs in headlights, taillights, and turn signals. Integration of smart lighting solutions such as adaptive lighting, automatic high-beam control, and connectivity features are also gaining momentum. The growing popularity of electric scooters and motorcycles is boosting demand for efficient lighting solutions.
Key Takeaways from Market Study
- The global two-wheeler lighting market is forecasted to reach US$ 48.16 billion by 2033.
- Demand for cost-effective and efficient motorcycle lighting solutions is high in Asia Pacific countries such as China, India, and Japan.
- Strict road safety and vehicle lighting policies are driving the growth of the two-wheeler lighting market in the United States.
- Germany is generating high demand for premium lighting solutions due to the growing popularity of smart motorcycles and high-end scooters.
“Growing demand for customized motorcycle lighting is generating lucrative opportunities for two-wheeler lighting producers,” says a Fact.MR analyst.
Key Segments of Two-wheeler Lighting Industry Research Report
| By By Product | By Type | Vehicle Type | By Voltage | By Sales Channel |
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Competitive Landscape
In the competitive landscape of the lighting industry, leading companies consistently allocate resources to research and development endeavors, aiming to craft innovative lighting solutions. This initiative encompasses the creation of advanced LED technologies, adaptive lighting systems, and various energy-efficient lighting alternatives. These groundbreaking products garner significant interest from consumers seeking enhanced safety, better visibility, and improved aesthetics in their lighting solutions.
- In a notable development in June 2022, J.W. Speaker Corporation introduced a revolutionary 5-in-1 LED motorcycle headlight, meticulously engineered to elevate road visibility for riders. This innovation stands as a testament to the industry’s dedication to continuous advancement in lighting technology.
Key Companies Profiled
Hyundai Mobis, Valeo, Koninklijke Philips N.V., Koito Manufacturing, Stanley Electric, Magnetti Marelli, Ichikoh Industries Ltd., FIEM Industries, Cobo, Rinder, Boogey, Motolight, Lazer Lamps, Unitech, Hella, Ampas Lighting, Federal-Mogul, Bruno/Zadi Group, LumaxMinda, ZWK Group, Varroc Lighting, Osram GmbH
Winning Strategy
Key players in the two-wheeler lighting market are investing in innovation to meet the evolving demands of consumers. Partnerships and collaborations are also aiding companies in earning more and increasing their market reach.
- Osram GmbH is well known for its innovative lighting solutions. Osram is a global leader in the automotive lighting market.
- Philips, a popular household name, offers high-quality automotive lighting products under its automotive lighting division.
Scooters are gaining increasing popularity among urban commuters owing to their convenience and fuel efficiency. This rise in scooter sales has a direct correlation to the increasing integration of advanced lighting technologies in two-wheelers.
As per insights from Fact.MR, a prominent market research and competitive intelligence provider, motorcycles are anticipated to witness substantial demand over the next decade. This surge in demand is expected to present lucrative opportunities for manufacturers specializing in LED headlamps, taillights, and indicator lights.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global two-wheeler lighting market with historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights on the market based on product (headlamps, front lights, side lights, front indicators, rear indicators, tail/brake lights, number plate lights), type (halogen lights, LED lights, discharge gas lamps, incandescent lamps, xenon lamps), sales channel (OEMs, aftermarket), vehicle type (motorcycles, mopeds, scooters), and voltage (12 V, 14 V), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the MEA).
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About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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