Market Overview:
The global turn signal lights market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for LED lighting in turn signal lights and rising awareness about safety among consumers. The traditional lighting segment is expected to dominate the global turn signal lights market during the forecast period, owing to its low cost and easy installation. However, LED lighting is expected to grow at a higher CAGR due its energy-efficiency and longer life span as compared to traditional lighting. In terms of application, commercial cars are expected to hold a major share of the global turn signal lights market during the forecast period, followed by passenger cars. The growth in this segment can be attributed increased demand for luxury cars across different regions.
Product Definition:
A turn signal light is a type of lamp that is mounted on the front and rear of a vehicle to indicate the intention to turn. The use of turn signal lights is required by law in many jurisdictions.
Traditional Lighting:
Traditional lighting is a type of light source that has been used for various applications across the globe. The traditional lights are widely used in automotive, commercial and residential areas. They are available in different forms such as incandescent, halogen, fluorescent and HID (High Intensity Discharge). Fluorescent lamps have high demand owing to their low cost compared to other traditional lights; they also offer longer illumination with less power consumption.
LED Lighting:
LED lighting is a new technology that was initially designed for general lighting applications. However, it is now being used in various automotive applications including headlamps, brake lights and turn signal indicators. LED’s are highly efficient as compared to the conventional light sources such as halogen and incandescent bulbs; they use 80% less energy while offering similar or better output quality.
Application Insights:
The commercial cars segment led the global 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 investments by companies in developing countries for manufacturing commercial vehicles, such as trucks, buses and coaches. For instance, Mahindra & Mahindra Ltd has invested USD 120 million for expanding its vehicle production facility in India.
Passenger cars are estimated to witness significant growth over the forecast period owing to rising disposable income among consumers globally coupled with an increase in spending on passenger car purchases mainly from emerging markets including China, India and Brazil. Moreover, governments across developed nations have made it mandatory for all new automobiles sold within their respective jurisdictions to be equipped with safety features including turn indicators and hazard flashers that operate automatically when drivers apply brakes or press accelerator pedal lightly above 2 mph (3 km/h).
Regional Analysis:
North America was the largest market for global turn signal lights in 2016 and will remain dominant through 2030. This region is home to several automotive manufacturers who are continuously investing in R&D to develop advanced vehicles with enhanced safety features. The U.S., being a developed economy, has some of the strictest regulations regarding road safety and vehicle emissions, thus driving the demand for innovative technologies that enhance driver visibility at night.
Asia Pacific is expected to be one of the fastest-growing regions over the forecast period owing to increasing automobile production in emerging economies like India and China as well as rising disposable income among consumers there. Moreover, government initiatives encouraging people to use public transport instead of personal cars are likely contributing toward lower vehicular emissions across this region which further drives demand for efficient lighting systems such as turn signal lights on individual control units along with other accessories such as interior lighting or exterior lighting systems required on commercial vehicles or passenger cars respectively.
Growth Factors:
- Increasing demand for luxury cars
- Rising disposable income of consumers
- Technological advancements in turn signal lights
- Growing awareness about the importance of turn signal lights in vehicles
- Government regulations and norms related to turn signal lights
Scope Of The Report
Report Attributes
Report Details
Report Title
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, Stanley, 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
247
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Turn Signal Lights Market Report Segments:
The global 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
- Stanley
- Life Elex
- Gentex
- Grote
- Panasonic
- Kelai
- GMY
- FSL Light
- Guangdong PAK Corp
Highlights of The 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 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
- 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 turn signal is a warning light on a vehicle that tells other drivers when the driver intends to make a right or left turn.
Some of the key players operating in the turn signal lights market are GE Lighting, Osram, Philips, Bosch, Lumileds, Magneti Marelli, Tenneco(Federal-Mogul), Hella, Koito, Eiko, Stanley, Life Elex, Gentex, Grote, Panasonic, Kelai, GMY, FSL Light, Guangdong PAK Corp.
The turn signal lights market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 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 Turn Signal Lights Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 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 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 Turn Signal Lights Market Size & Forecast, 2018-2028
4.5.1 Turn Signal Lights Market Size and Y-o-Y Growth
4.5.2 Turn Signal Lights Market Absolute $ Opportunity
Chapter 5 Global Turn Signal 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 Turn Signal Lights 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 Turn Signal 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 Turn Signal Lights 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 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 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 Turn Signal Lights Analysis and Forecast
9.1 Introduction
9.2 North America Turn Signal 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 Turn Signal Lights 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 Turn Signal Lights 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 Turn Signal Lights Analysis and Forecast
10.1 Introduction
10.2 Europe Turn Signal 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 Turn Signal Lights 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 Turn Signal Lights 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 Turn Signal Lights Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Turn Signal 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 Turn Signal Lights 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 Turn Signal Lights 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 Turn Signal Lights Analysis and Forecast
12.1 Introduction
12.2 Latin America Turn Signal 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 Turn Signal Lights 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 Turn Signal Lights 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) Turn Signal Lights Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Turn Signal 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) Turn Signal Lights 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) Turn Signal Lights 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 Turn Signal Lights Market: Competitive Dashboard
14.2 Global 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 Stanley
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
