LONDON–(BUSINESS WIRE)–#GlobalMotorcycleHeadlightMarket–The motorcycle headlight market is expected to grow by 11.84 million units during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Factors such as growth in GDP and improving disposable incomes and employment rates have increased the demand for motorcycles in APAC. Also, a majority of the middle-class population in the region prefer motorcycles as their primary mode of transportation. Besides, the rising traffic congestion and bad road conditions in many APAC countries have increased the market for motorcycles. These factors are contributing to the growth of the global motorcycle headlight market.
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As per Technavio, the increasing adoption of new headlight technologies in the automotive segment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Motorcycle Headlight Market: Increasing Adoption of New Headlight Technologies in the Automotive Segment
The growing focus on vehicle safety and the increasing consumer demand for better lighting features are compelling automotive OEMs to introduce several innovative technologies in their offerings. For instance, BMW Motorrad borrowed OLED lighting technology from passenger cars to their motorcycles in 2017. The success of laser headlights technology in BMW luxury cars encouraged BMW Motorrad to adopt the technology in their motorcycles. The introduction of such innovative headlight technologies is positively influencing the growth of the global motorcycle headlight market.
“Growing popularity of adaptive headlights in motorcycle and the increasing adoption of touring motorcycles for long-distance travel will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Motorcycle Headlight Market: Segmentation Analysis
This market research report segments the motorcycle headlight market by Application (Halogen, LED, and Others) and Geography (APAC, North America, Europe, South America, and MEA).
The APAC region led the motorcycle headlight market in 2019, followed by North America, Europe, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the introduction of an automatic headlamp on (AHO) mandate in motorcycles by the Government of India.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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