Transparency Market Research
Lighting is a major part of two wheelers, as it helps a rider to avoid pits and bumps on the road at night and in low light conditions. It also provides visibility to riders under bad weather conditions. Lights are also used to enhance the esthetics of a two-wheeler. LED lights and energy saving bulbs are used to minimize energy consumption. The most common types of two-wheeler lightings include LED, halogen, and xenon.
Expansion of the global Two-wheeler industry in the last few years is driving associated industries such as motorcycle accessories and its components. Rise in demand for motorcycles, increase in disposable income, and surge in customers spending on esthetics of vehicles across the global are projected to drive the two-wheeler lighting market during the forecast period. In two-wheeler lighting market, lighting is not only for visibility, but it is also having high aesthetic appeal, assurance of safety, security, and better performance. Additionally, implementation of stringent laws related to safety is anticipated to propel the global two-wheeler lighting market during the forecast period.
The global two-wheeler lighting market can be segmented based on types of two-wheeler vehicles, types of light, application, sales channel, and region. Based on types of two-wheeler vehicles, the market can be divided into Cruiser motorcycles, scooters, mopeds, standard, sports bikes, touring, multi-purpose bikes, electronic bikes (e-bikes), and others. Presently, demand for electric vehicles is increasing, which in turn, is driving the two-wheeler lighting market. In terms of light types, the two-wheeler lighting market can be segregated into halogen, LED, and xenon. Halogen and LED lights are extensively used, as halogen lights provide bright light and LED lights are energy efficient and long-lasting. The LED light segment is projected to expand at a considerable pace during the forecast period, as these lights consume less energy.
Based on application, the two-wheeler lighting market can be categorized into headlights, flashers, indicators, and rear lights. In terms of sales channel, the two-wheeler lighting market can be classified into original equipment manufacturers (OEMs) and aftermarket. Demand for OEM two-wheeler lighting is proportional to the production of two-wheelers. Demand for aftermarket two wheeler lighting market depends upon the two-wheeler in stock at market. Stock and production are expected to increase due to the rise in standards of living in developing nations and increase in safety standards.
In terms of region, the global two-wheeler lighting market can be split into Asia Pacific, Middle East & Africa, North America, Latin America, and Europe. Asia Pacific is a major manufacturer and consumer of two-wheelers; therefore, the demand for two-wheeler lighting is high. Hence, the region accounts for a large share of the global two-wheeler lighting market.
Key players in the global two-wheeler lighting market include FIEM Industries, Cobo, Rinder, Boogey, Stanley, Motolight, Lazer Lamps, Koito, Unitech, Hella, Ampas Lighting, Federal Mogul, Bruno/Zadi Group, LumaxMinda, IJL (Lucas TVS & Koito India), ZWK Group, Varroc Lighting, and Osram GmbH.
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