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Market research analysts at Technavio predict that the global motorcycle lighting market will grow steadily over the next four years and post a CAGR of almost 13% by 2021. This market research analysis identifies the increasing focus of automotive OEMs towards differentiating products from their competitors as one of the primary growth factors for the motorcycle lights market. To differentiate their products in the intensely competitive market, motorcycle manufacturers are increasingly implementing motorcycle lighting systems using new lighting technologies such as LED and organic light-emitting diode (OLED). Since most automotive designers adopt these technologies to enhance the appeal of the motorcycle, it will consequently increase the demand for heavyweight motorcycles. One of the leading automotive manufacturers, BMW, is already focusing on the development of LED lighting technology for motorcycles and recently announced the introduction of laser headlights in the motorcycle segment.
One of the major trends that will gain traction in the market in the coming years is the development of thermal imaging cameras. The increasing need for enhancing motorcycle safety is driving innovations to increase rider visibility during night rides. This will result in the introduction of thermal imaging cameras that allow riders to spot debris on the road easily. Also, the system does not require lights to produce an image, which when coupled with led motorcycle lights will significantly enhance the safety of motorcycles.
The market consists of several vendors in both the OEM and aftermarket segments and is characterized by rapid technological advances. During the forecast period, the motorcycle LED lights market will also witness continuous investments from the motorcycle light manufacturers towards the development of innovative technologies in terms of range and energy consumption. Though the introduction of new technologies such as OLED and laser will benefit customers in terms of cost and performance, it will also intensify the competitive environment among the market players.
The leading vendors in the market are -
The other prominent vendors in the market are Varroc Group and ZKW Group.
During 2016, the halogen lighting segment accounted for the major shares and dominated the motorcycle LED lights market. Though the requirement for energy efficiency and larger lifespan will increase the adoption of LEDs and other technologies for motorcycle lighting, the halogen lighting segment will continue to dominate the market throughout the next four years as well.
This market study estimates that in terms of geographical regions, APAC will be the major revenue contributor to the market throughout the forecast period. This growth can be attributed to the increased adoption of motorcycles across several countries in the region, especially China and India. The high penetration of heavyweight motorcycles in countries such as Japan, Australia, and New Zealand, which augment the adoption of advanced technologies such as LED, will drive the market’s growth prospects in this region.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by technology
PART 07: Geographic segmentation
PART 08: Market drivers
PART 09: Market challenges
PART 10: Market trends
PART 11: Vendor landscape
PART 12: Key vendor analysis
PART 13: Appendix
PART 14: Explore Technavio
Tags: motorcycle parts, led motorcycle lights, automotive parts manufacturers, auto components, automotive market forecast, automotive market analysis,
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