Market Overview:
The global automotive turn signal lights market is expected to grow at a CAGR of 6.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for passenger cars and commercial vehicles, and the rising adoption of LED lighting in turn signal lights. The traditional lighting segment is expected to dominate the global automotive turn signal lights market during the forecast period, owing to its low cost as compared to LED lighting. However, LED lighting is expected to grow at a higher CAGR than traditional lighting during the forecast period, due its superior performance and longer life span as compared to traditional light sources.
Product Definition:
Automotive turn signal lights are a type of signal light that is used to indicate the intention of the driver to make a turn. They are usually mounted on the front and rear of the vehicle, and they work by flashing a light when the driver activates them. This warning tells other drivers on the road what is happening so they can prepare for it.
Traditional Lighting:
Traditional lighting is a system of lights used in automotive to indicate the position of the vehicle's turn signal. The traditional system includes two light bars and two side lamps that are connected by three wires. These three wires carry electricity from the side lamp to turn signal indicator and back again so that there is no loss of power.
LED Lighting:
LED lighting is the future of automotive signal lights. The technology has been around for more than two decades, but only recently have manufacturers started to use it on a large scale in automobiles. LED turn signal lights are being used in cars since 2010 and they are considered to be safer, efficient, and cost-effective alternatives to their counterparts made from halogen or incandescent bulbs.
Application Insights:
The commercial cars segment led the global automotive turn signal lights market in 2017 and is projected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing government spending on infrastructure development, particularly in developing countries like India and China, which has resulted in increased demand for vehicles from these countries. Furthermore, an increase in the number of construction activities across various regions is likely to augment product demand over the next seven years.
Passenger cars accounted for a major share within this application segment owing to their high usage rate as compared with light commercial vehicles (LCVs). LCVs are widely used by companies for transportation purposes while passenger cars are preferred by individuals for daily travels or long-distance travels. Additionally, growing preference towards smaller size and fuel efficiency along with low maintenance cost have boosted sales of passenger cars over recent years globally; therefore, it is expected that this trend will continue through 2018 till 2030 thereby driving market growth eventually.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing region over the forecast period. The growth can be attributed to increasing road infrastructure and rising disposable income of consumers in developing economies, such as China and India. Moreover, government initiatives encouraging people to buy eco-friendly vehicles are expected to drive demand for turn signal lights in this region. For instance, Government of India launched “Housing for All by 2022†initiative which aims at providing financial assistance for building energy-efficient homes that include lighting systems with LEDs or CFLs. This will further boost market growth over the forecast period.
Europe accounted for a significant share of global revenue in 2017 owing to stringent regulations enforced by regulatory bodies like ECE (Electronic Control Unit) and SAE (Society of Automotive Engineers).
Growth Factors:
- Increasing demand for automobiles
- Technological advancements in turn signal lights
- Rising disposable income of consumers
- Growing awareness about safety features in automobiles
- Stringent government regulations for vehicle safety
Scope Of The Report
Report Attributes
Report Details
Report Title
Automotive Turn Signal Lights Market Research Report
By Type
Traditional Lighting, LED Lighting, Other
By Application
Commercial Cars, Passenger Cars
By Companies
GE Lighting, Osram, Philips, Bosch, Lumileds, Magneti Marelli, Tenneco(Federal-Mogul), Hella, Koito, Eiko, GE Lighting, Life Elex, Gentex, Grote, Panasonic, Kelai, GMY, FSL Light, Guangdong PAK Corp
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
142
Number of Tables & Figures
100
Customization Available
Yes, the report can be customized as per your need.
Global Automotive Turn Signal Lights Market Report Segments:
The global Automotive Turn Signal Lights market is segmented on the basis of:
Types
Traditional Lighting, LED Lighting, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Cars, Passenger Cars
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- GE Lighting
- Osram
- Philips
- Bosch
- Lumileds
- Magneti Marelli
- Tenneco(Federal-Mogul)
- Hella
- Koito
- Eiko
- GE Lighting
- Life Elex
- Gentex
- Grote
- Panasonic
- Kelai
- GMY
- FSL Light
- Guangdong PAK Corp
Highlights of The Automotive Turn Signal Lights Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Traditional Lighting
- LED Lighting
- Other
- By Application:
- Commercial Cars
- Passenger Cars
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Automotive Turn Signal Lights Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Automotive turn signal lights are a type of lighting used on vehicles to indicate when the driver intends to turn.
Some of the major players in the automotive turn signal lights market are GE Lighting, Osram, Philips, Bosch, Lumileds, Magneti Marelli, Tenneco(Federal-Mogul), Hella, Koito, Eiko, GE Lighting, Life Elex, Gentex, Grote, Panasonic, Kelai, GMY, FSL Light, Guangdong PAK Corp.
The automotive turn signal lights market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Automotive Turn Signal Lights Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Automotive Turn Signal Lights Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Automotive Turn Signal Lights Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Automotive Turn Signal Lights Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Automotive Turn Signal Lights Market Size & Forecast, 2020-2028
4.5.1 Automotive Turn Signal Lights Market Size and Y-o-Y Growth
4.5.2 Automotive Turn Signal Lights Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Traditional Lighting
5.2.2 LED Lighting
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Commercial Cars
6.2.2 Passenger Cars
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Automotive Turn Signal Lights Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Automotive Turn Signal Lights Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Traditional Lighting
9.6.2 LED Lighting
9.6.3 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Commercial Cars
9.10.2 Passenger Cars
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Traditional Lighting
10.6.2 LED Lighting
10.6.3 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Commercial Cars
10.10.2 Passenger Cars
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Traditional Lighting
11.6.2 LED Lighting
11.6.3 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Commercial Cars
11.10.2 Passenger Cars
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Traditional Lighting
12.6.2 LED Lighting
12.6.3 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Commercial Cars
12.10.2 Passenger Cars
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Traditional Lighting
13.6.2 LED Lighting
13.6.3 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Commercial Cars
13.10.2 Passenger Cars
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Automotive Turn Signal Lights Market: Competitive Dashboard
14.2 Global Automotive Turn Signal Lights Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 GE Lighting
14.3.2 Osram
14.3.3 Philips
14.3.4 Bosch
14.3.5 Lumileds
14.3.6 Magneti Marelli
14.3.7 Tenneco(Federal-Mogul)
14.3.8 Hella
14.3.9 Koito
14.3.10 Eiko
14.3.11 GE Lighting
14.3.12 Life Elex
14.3.13 Gentex
14.3.14 Grote
14.3.15 Panasonic
14.3.16 Kelai
14.3.17 GMY
14.3.18 FSL Light
14.3.19 Guangdong PAK Corp
