Motorcycle lighting involves the usage of illuminating devices for the purpose of providing visibility to the riders travelling in dark environment. The lighting solution also helps in alerting other drivers, riders and pedestrians about its presence in the low light conditions and bad weather.
Motorcycle Lighting Market: Dynamics
Motorcycle has proven to be a very popular transportation motor vehicle among the middle class consumers especially in the developing regions such as Asia Pacific. This popularity has led to an improved sales of two wheelers and has witnessed further demand making it as the primary growth driver in the motorcycle lighting market.
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Motorcycles, which fall under the medium to low price range bracket are sold to the consumers with factory fitted incandescent lamps for both head lights and tail lights. These lighting solutions wear out quite quickly leading to reduced illumination. This has caused a switch to adopt LED lighting solutions in the aftermarket sales channel witnessing a healthy growing trend of utilizing LED lights in the future. Advancements in the motorcycle lighting also involves selective fitment of adaptive lighting technologies, laser light technology, OLED lighting, etc. which can become standard fitments in the future. Though the prices of these standalone technologies is quite higher as compared to traditional motorcycle lighting solutions, large scale adoption by the OEMs of such technologies can bring down its prices making it more affordable to the consumers.
Though not much of a significant development in the current scenario but the trend of using lighting solutions in areas other than for primary visibility purposes such as aesthetics and decorations has picked up pace especially among the youth is likely to gain foothold in the mainstream market proving opportunities to increase the revenue generated from the motorcycle lighting market.
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Motorcycle Lighting Market: Market Participants
Examples of some of the market participants identified in the Global Motorcycle Lighting market include:
- UM Group
- Varroc Group
- Fiem Industries Ltd.
- Koninklijke Philips N.V.
- OSRAM GmbH
- Lumax Industries Limited
- N K Minda Group
- Hella KGaA Hueck & Co.
- Federal-Mogul LLC
- Stanley Electric Co., Ltd.
- Cobo S.p.A.
- Zadi S.p.A.
- Rinder India, Pvt. Ltd.
- AMPAS Industries Co., Ltd.
- MotoLight
- ZKW Group
- J.W. Speaker Corporation
Motorcycle Lighting Market: Segmentation
Motorcycle Lighting Market can be segmented as follows;
By Product type, the Motorcycle Lighting market can be segmented as:
- Light-Emitting Diode (LED) Lamps
- Halogen Lamps
- Discharge Gas Lamps
- Incandescent Lamps
- Xenon Lamps
By Application, the Motorcycle Lighting market can be segmented as:
- Head Lights
- Tail Lights
- Turn Signal Lights
- Others (Dashboard Lights etc.)
By Sales Channel, the Motorcycle Lighting market can be segmented as:
- Original Equipment Manufacturers (OEMs)
- Aftermarket
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Motorcycle Lighting Market: Regional Outlook
The market value of motorcycle lighting is correlated to the sales of motorcycles taking place on a global level. With a low replacement rate of motorcycle lighting owing to improvement in product life, the original equipment manufacturer takes up a majority of market share in comparison to aftermarket sales channel. From the perspective of regional segmentation, the consumers in highly developed regions such as North America and Western Europe prefer four wheelers over two wheelers owing to high disposable incomes and luxury preferences driving the growth of the motorcycle lighting market at a sluggish pace over the forecast period.
The same also holds true for the GCC countries, where the sales of motorcycles is largely overshadowed by the four wheeled vehicle sales bringing up slightly lesser opportunities for the sustenance of the market. In contrast, Asia Pacific region has witnessed significant manufacture and sales of motorcycles especially in China, India and ASEAN countries. The former two countries are considered to be large manufacturers of motorcycles in the world providing ample opportunities for the positive growth of motorcycle lighting market in the upcoming years. Latin America and Eastern Europe have also witnessed large population of motorcycle users, which has been improving at a healthy rate year on year that can attribute to the growth of the said market.
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