Market Overview:
The global traffic lights market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The market growth is attributed to the increasing adoption of LED traffic lights and rising demand for smart traffic lights. Based on type, the global traffic lights market is segmented into incandescent traffic lights and LED traffic lights. The LED segment is expected to grow at a higher CAGR than the incandescent segment during the forecast period. This can be attributed to the growing demand for energy-efficient lighting solutions across various applications, such as roadways, railways, and construction sites. Based on application, the global Traffic Lights Market is divided into three segments: roadways, railways, and construction sites. Among these segments, roadways held majority share in 2017 and this trend is projected to continue during the forecast period owing to increase in number of vehicles globally coupled with stringent government regulations mandating use of Traffic Lights in various countries across regions including North America & Europe . However , railway application would witness highest growth rate over next few years due increased investment by public & private players towards development & upgradation of railway infrastructure worldwide . Regionally , North America accounted for largest share in 2017 followed by Europe while Asia Pacific region would exhibit highest CAGR over next few years owing rapid industrialization & urbanization witnessed in countries such as China , India etc .
Product Definition:
Traffic lights are a system of signals that control the flow of traffic. They usually consist of three colored lights: red, yellow, and green. When a light is red, drivers must stop; when it is yellow, they must prepare to stop; when it is green, they may proceed with caution. Traffic lights play an important role in keeping traffic moving safely and efficiently.
Incandescent Traffic Lights:
Incandescent traffic lights are the traditional type of traffic light used across the world. It is a manually operated device that produces light by means of an electric current passed through a metal filament or a small group of phosphor compounds. The most common types of incandescent lights are linear fluorescent lamps and HID (High Intensity Discharge) lamps.
LED Traffic Lights:
LED traffic lights are a new generation of traffic signals that use light-emitting diodes (LEDs) as opposed to the conventional incandescent and halogen bulbs. The modern LED display was developed in the 1990s, but it was not until recently that they have been deployed in large numbers at busy arterial roads and highways across several countries. The growing demand for energy-efficient lighting technology has led to an increase in the deployment of LED traffic signals worldwide.
Application Insights:
The road application segment led the global traffic 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 road infrastructure spending in emerging economies across the globe, including China, India and Brazil. Moreover, growing urbanization along with rising number of vehicles is expected to boost product demand over the next seven years.
Construction traffic lights accounted for more than 15% share of total revenue in 2017 owing to rapid industrialization leading to an increase in construction activities across developing countries such as China and India. Furthermore, government initiatives for improving public infrastructure are likely to fuel industry expansion further over the forecast period. Increasing railway track installations coupled with rising passenger travel demand has resulted in an increased number of railway stations being built globally which has positively influenced traffic light manufacturers during recent years (2017-2030).
Regional Analysis:
Europe dominated the global traffic lights market in 2017, accounting for more than 30.0% of the total revenue share. The presence of stringent regulations and standards set by governing bodies such as ETSI, ICTSI, and CEN is expected to drive industry growth over the forecast period. Furthermore, technological advancements in traffic light control systems are anticipated to fuel regional demand during the forecast period.
The Asia Pacific region is projected to witness significant growth over the next eight years owing to increasing road infrastructure development projects across emerging economies such as China and India along with other Southeast Asian countries. In addition, rising investments from governments for improving public transportation facilities are estimated to boost industry expansion over this period (2016 - 2030). Moreover, growing adoption of LED lighting technology due both incandescent models as well as LEDs will further propel regional demand during the forecast period (2018 - 2030).
Growth Factors:
- Increasing demand for traffic management systems from municipal authorities to manage the increasing traffic congestion on city roads.
- Rising number of vehicular accidents due to heavy traffic, which is driving the demand for traffic lights across the globe.
- Growing adoption of LED-based traffic lights owing to their energy efficiency and longer life span as compared to traditional light bulbs used in these systems.
- Proliferation of smart cities that are deploying advanced technologies such as intelligent transportation systems (ITS) that include features such as variable message signs, closed-circuit television (CCTV), and automatic vehicle identification (AVI) among others, which are aiding in efficient management of urban transportation networks and are consequently fueling the growth of the global Traffic Lights market .
Scope Of The Report
Report Attributes
Report Details
Report Title
Traffic Lights Market Research Report
By Type
Incandescent Traffic Lights, LED Traffic Lights
By Application
Road, Railway, Construction
By Companies
Aldridge Traffic Systems, D.G. Controls, E2S Warning Signals, Horizon Signal Technologies, North America Traffic, Pfannenberg, WERMA Signaltechnik, Ver-Mac, Aldridge Traffic Systems
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
130
Number of Tables & Figures
91
Customization Available
Yes, the report can be customized as per your need.
Global Traffic Lights Market Report Segments:
The global Traffic Lights market is segmented on the basis of:
Types
Incandescent Traffic Lights, LED Traffic Lights
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
Road, Railway, Construction
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:
- Aldridge Traffic Systems
- D.G. Controls
- E2S Warning Signals
- Horizon Signal Technologies
- North America Traffic
- Pfannenberg
- WERMA Signaltechnik
- Ver-Mac
- Aldridge Traffic Systems
Highlights of The Traffic 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:
- Incandescent Traffic Lights
- LED Traffic Lights
- By Application:
- Road
- Railway
- Construction
- 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 Traffic 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
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
A traffic light is a device used at intersections to control the flow of traffic. When approaching a red light, drivers must stop. When approaching a green light, they may proceed with caution.
Some of the key players operating in the traffic lights market are Aldridge Traffic Systems, D.G. Controls, E2S Warning Signals, Horizon Signal Technologies, North America Traffic, Pfannenberg, WERMA Signaltechnik, Ver-Mac, Aldridge Traffic Systems.
The traffic lights market is expected to register a CAGR of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Traffic 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 Traffic Lights Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Traffic 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 Traffic 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 Traffic Lights Market Size & Forecast, 2018-2028
4.5.1 Traffic Lights Market Size and Y-o-Y Growth
4.5.2 Traffic Lights Market Absolute $ Opportunity
Chapter 5 Global Traffic Lights 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 Traffic Lights Market Size Forecast by Type
5.2.1 Incandescent Traffic Lights
5.2.2 LED Traffic Lights
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Traffic Lights 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 Traffic Lights Market Size Forecast by Applications
6.2.1 Road
6.2.2 Railway
6.2.3 Construction
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Traffic 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 Traffic 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 Traffic Lights Analysis and Forecast
9.1 Introduction
9.2 North America Traffic Lights 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 Traffic Lights Market Size Forecast by Type
9.6.1 Incandescent Traffic Lights
9.6.2 LED Traffic Lights
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 Traffic Lights Market Size Forecast by Applications
9.10.1 Road
9.10.2 Railway
9.10.3 Construction
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 Traffic Lights Analysis and Forecast
10.1 Introduction
10.2 Europe Traffic Lights 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 Traffic Lights Market Size Forecast by Type
10.6.1 Incandescent Traffic Lights
10.6.2 LED Traffic Lights
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 Traffic Lights Market Size Forecast by Applications
10.10.1 Road
10.10.2 Railway
10.10.3 Construction
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 Traffic Lights Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Traffic Lights 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 Traffic Lights Market Size Forecast by Type
11.6.1 Incandescent Traffic Lights
11.6.2 LED Traffic Lights
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 Traffic Lights Market Size Forecast by Applications
11.10.1 Road
11.10.2 Railway
11.10.3 Construction
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 Traffic Lights Analysis and Forecast
12.1 Introduction
12.2 Latin America Traffic Lights 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 Traffic Lights Market Size Forecast by Type
12.6.1 Incandescent Traffic Lights
12.6.2 LED Traffic Lights
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 Traffic Lights Market Size Forecast by Applications
12.10.1 Road
12.10.2 Railway
12.10.3 Construction
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) Traffic Lights Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Traffic Lights 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) Traffic Lights Market Size Forecast by Type
13.6.1 Incandescent Traffic Lights
13.6.2 LED Traffic Lights
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) Traffic Lights Market Size Forecast by Applications
13.10.1 Road
13.10.2 Railway
13.10.3 Construction
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 Traffic Lights Market: Competitive Dashboard
14.2 Global Traffic Lights Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Aldridge Traffic Systems
14.3.2 D.G. Controls
14.3.3 E2S Warning Signals
14.3.4 Horizon Signal Technologies
14.3.5 North America Traffic
14.3.6 Pfannenberg
14.3.7 WERMA Signaltechnik
14.3.8 Ver-Mac
14.3.9 Aldridge Traffic Systems
