Two-wheeler Lighting Market Analysis, Trend, Size, Share, and Forecast 2017 – 2022

Dublin 2, Ireland, 2018-Jan-18 — /EPR Network/ — Fact.MR has recently added a new report to its vast online database. This research study is titled as “Two-wheeler Lighting Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022” which presents an in-depth study about the production, consumption, market volume, revenue (million USD) and market share across different geographical regions.

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Increasing two-wheeler production around the world directly benefits all ancillary markets such as the two-wheeler lighting market. Factors such as stricter safety norms play a major role as two-wheeler lighting manufacturers need to ensure that their products comply with existing regulations in the country. This has compelled them to seek out innovative new technologies that help reduce power consumption while simultaneously increasing light output. In addition to safety aspects, the two-wheeler lighting market is anticipated to shine in the days ahead because of the desire of customers to have two-wheeler lights that are both, functional and fashionable.

Two-wheeler lighting comprises the system that provides the rider visibility in bad weather or complete darkness and alerts them of the size, presence, and position of any fellow motorist or pedestrian plying on the road. The three main technologies used in the two-wheeler lighting market are LED, halogen, and Xenon bulbs.

5 Takeaways from Fact.MR’s Report on Two-wheeler Lighting Market

1.    The 12V segment is estimated to account for a revenue share of more than 3/5^th of the two-wheeler lighting market by volts segment in 2017. A value of just under US$ 1.4 billion at the end of the forecast period makes it far more attractive than its 14V counterpart. Europe alone represents a quarter of the regional contribution and is expected to remain a lucrative market. The 14V segment on the other hand, is much smaller by comparison. However, companies would be advised to target APEJ over Europe in the 14V segment of the two-wheeler lighting market as the former is likely to outpace the latter at the end of 2022.

2.    The motorcycle segment comprises a quarter of the revenue share in the two-wheeler lighting market by vehicle type in 2017 and it projected to become more prominent in the days ahead. This is because the motorcycle segment caters to a diverse set of use-cases – luxury, economical, as well as sporty. While Europe is currently the largest region in terms of motorcycle sales, APEJ will record a much higher CAGR of 4.3% which will allow it be neck-and-neck with Europe by the end of the forecast period.

3.    A market opportunity exceeding half a billion dollars is enough to make key stakeholders in the two-wheeler lighting market look very closely at the moped segment. Mopeds are desired for their comfort, convenience, and ease of use and are particularly well-suited to teenagers, women, and senior citizens. Companies are advised to design stylish rear indicators, front indicators, side indicators, headlamps and tail lamps as moped customers desire the perfect combination of form coupled with functionality. The APEJ region can be considered a critical market for mopeds as the continent has a much larger younger population as compared to Europe and North America and these customers would be well-served by mopeds.

4.    Scooters contribute approx. half the revenue share in the two-wheeler lighting market in 2017 and companies are recommended to focus their attention on either Europe or APEJ as both these strategic regions are poised to exceed US$ 255 million by the end of the study. However, the CAGR of APEJ is nearly double that of Europe, making it a far more exciting prospect.

5.    The aftermarket channel is several times larger than the OEM channel in the two-wheeler lighting market and it would be understandable if companies decided to target it exclusively at the cost of OEM channels. A market opportunity of almost US$ 1.4 billion in 2022 is big enough for all companies to not only sustain, but thrive.

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Similar Opportunity in Headlamp and Front Lamp Segment

The headlamp and the front lamp segment represent a similar market opportunity in the two-wheeler lighting market as both are just under a fifth of the revenue share by product type. The headlamp segment is slightly larger at just over US$ 416 million by the end of 2022. Europe and APEJ are by far the dominant regional contributors in the headlamp segment of the two-wheeler lighting market. This also holds true for the front light segment and key stakeholders in the two-wheeler lighting market would do well to take note.

Front Indicator and Side Lights Important in Two-Wheeler Lighting Market

The front indicator segment in the two-wheeler lighting market is on track to grow with a CAGR of 2.7% for the period from 2017 to 2022 and it accounts for approx. 13% revenue share. Even though Europe currently has the largest regional contribution to this segment, APEJ should record a higher CAGR and be inching closer to Europe by the year 2022. With respect to side lights, companies may want to target Latin America and APEJ as these dynamic, fast-growing regions are predicted to record an extremely robust CAGR which will make them strategic focus areas in the long run.

Aftermarket Channel Dominates OEM in Two-Wheeler Lighting Market

The aftermarket channel consists of almost 2/3^rd revenue share in the two-wheeler lighting market by sales channel and it is likely to retain this dominance for some time to come. The Europe aftermarket two-wheeler lighting market alone is on track to be worth just under US$ 340 million by the end of the study, making it too lucrative to ignore. The OEM channel is considerably smaller but is projected to gain share during the period. Hence, companies are advised not to overlook it entirely in favor of the more prominent aftermarket channel. Europe and APEJ are neck-and-neck in the OEM segment of the two-wheeler lighting market and it will be interesting to see when APEJ manages to outpace Europe.

Competition Tracking

The Fact.MR report on the two-wheeler lighting market has compiled a list of major players actively involved in the two-wheeler lighting market. A few of them include General Electric, Hyundai Mobis, Koito Manufacturing, Magnetti Marelli, OSRAM GmbH, Valeo, and Stanley Electric, Ichikoh Industries Ltd, HELLA KGaA Hueck & Co, and Koninklijke Philips N.V

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About Fact.MR
Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized automotive market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that’s why we publish multi-industry global, regional, and country-specific research reports.

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