What is Global Two Wheeler Lighting Market?
The Global Two Wheeler Lighting Market is a comprehensive study of the various aspects of the lighting systems used in two-wheelers worldwide. This market encompasses the entire gamut of lighting solutions used in motorcycles, scooters, mopeds, and other two-wheeled vehicles. The lighting system in a two-wheeler is not just a functional component but also plays a significant role in the safety and aesthetic appeal of the vehicle. The lighting system in a two-wheeler includes the headlight, tail light, indicators, and other auxiliary lights. The global market for two-wheeler lighting is influenced by several factors such as technological advancements, changing consumer preferences, government regulations, and the overall growth of the two-wheeler industry.
Halogen Lights, LED Lights, Others in the Global Two Wheeler Lighting Market:
The Global Two Wheeler Lighting Market is segmented based on the type of lighting technology used, namely Halogen Lights, LED Lights, and Others. Halogen lights have been the traditional choice for two-wheeler lighting due to their low cost and easy availability. However, with the advent of LED technology, the market is witnessing a shift towards LED lights. LED lights offer several advantages over halogen lights such as higher brightness, lower energy consumption, longer lifespan, and better aesthetics. The 'Others' category includes emerging lighting technologies such as HID (High-Intensity Discharge) lights and laser lights. These technologies are still in their nascent stages and their adoption in the two-wheeler lighting market is currently limited.
Motorcycle Headlight, Motorcycle Rear Light, Indicators, Others in the Global Two Wheeler Lighting Market:
The Global Two Wheeler Lighting Market also varies based on the application of the lights in the two-wheeler. The primary applications include Motorcycle Headlight, Motorcycle Rear Light, Indicators, and Others. The headlight is the most critical component of the lighting system as it ensures visibility during night-time and poor weather conditions. The rear light and indicators are essential for safety as they signal the vehicle's presence and intentions to other road users. The 'Others' category includes auxiliary lights used for additional illumination or aesthetic purposes. The demand for different types of lights depends on various factors such as the type of two-wheeler, the geographical region, and the specific requirements of the user.
Global Two Wheeler Lighting Market Outlook:
The Global Two Wheeler Lighting Market was valued at US$ 1360 million in 2022. It is projected to reach a value of US$ 1901.9 million by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period from 2023 to 2029. This growth is driven by several factors such as the increasing sales of two-wheelers, advancements in lighting technology, and the growing emphasis on vehicle safety. The market is dominated by the top 3 companies which collectively hold a market share of about 40%. The Asia Pacific region is the largest market for two-wheeler lighting, accounting for about 50% of the global market share. This is followed by North America and Europe, which hold market shares of about 30% and 13% respectively. In terms of product types, halogen lights hold the largest market share of about 60%, primarily due to their low cost and widespread usage. However, the market share of LED lights is expected to increase in the coming years due to their numerous advantages over halogen lights.
| Report Metric | Details |
| Report Name | Two Wheeler Lighting Market |
| Accounted market size in 2023 | US$ 1463 million |
| Forecasted market size in 2029 | US$ 1901.9 million |
| CAGR | 4.5 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Stanley, Xingyu Automotive Lighting, Varroc Lighting, FIEM Industries, Uno Minda, Unitech, Ampas Lighting, Lumax, Zadi, J.W. Speaker, Motolight, Boogey |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
