Global Bicycle Day-time Running Lights (DRL) Market 2017-2021
About Bicycle Day-time Running Lights (DRL)
Bicycle lights help improve the visibility of the bicycle riders as well as other road users when there is an insufficient lighting condition. These lights help illuminate the reflective traffic and road signals on the road. They also help the rider to see and identify the hazards ahead on the road.
Bicycle lights help improve traffic conditions during the night, along with retro-reflecting material and street lights, as they increase the visibility condition, reducing the risk of an accident. They also help reduce the reaction time, thereby, reducing the severity of the accident, by helping the driver to take action in order to avoid the mishap. There are many countries, which have mandated the use of lights in bicycle during the dark and impose fines if the lights are not deployed.
Technavio’s analysts forecast the global bicycle day-time running lights (DRL) market to grow at a CAGR of 16.40% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bicycle day-time running lights (DRL) market for 2017-2021. To calculate the market size, the report considers the total number of bicycle production region wise.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bicycle Day-Time Running Lights (DRL) Market 2017-2021
Technavio recognizes the following companies as the key players in the global bicycle day-time running lights (DRL) market: CatEye, Knog, Lezyne, See.Sense, and Trek Bicycle Corporation
Other Prominent Vendors in the market are: Specialized Bicycle Components, Cycliq, Fabric, Ultimate Sports Engineering, and Lupine Lighting Systems.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Integration with smartphone. The demand for connectivity and telematics have led to technological improvements that aim at enhancing the overall experience of the riders. Additionally, as consumers are increasingly interacting with personal mobile devices, they expect the same experience for their bicycles.”
According to the report, one of the major drivers for this market is Adoption of bicycle as a means of commute. Europe and the Americas are encouraging the use of bicycles for work with initiatives like making separate lanes for bicycles. For example, New York City added hundreds of miles of bike lanes in the recent years, which is also being closely followed by other cities. Battery-operated bicycles are more viable to be used for commute. For instance, in China, the battery-operated bicycle is experiencing high adoption. Safety is a major concern of the rider, and DRL, as proved by studies, helps in reducing the bicycle crashes by 40 to 50%.
Further, the report states that one of the major factors hindering the growth of this market is Increase in cost of bicycles with the addition of DRL. DRL increases the visibility of the rider to the other vehicles on the road. They can be used in both rear and front end of the bicycle, thus, making cycling safer. Usage of DRL in cars has lowered the accident rates by about 25%. According to a study, 80% of bicycle accidents happen during the day, wherein, adoption of DRL can lower the number of accidents. DRL increase the visibility of riders in bends and corners and add to the safety by making the riders more noticeable.
CatEye, Knog, Lezyne, See.Sense, Trek Bicycle Corporation, Specialized Bicycle Components, Cycliq, Fabric, Ultimate Sports Engineering, and Lupine Lighting Systems.
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