PUBLISHER: IMARC | PRODUCT CODE: 1422788
PUBLISHER: IMARC | PRODUCT CODE: 1422788
Traffic Lights Market by Product Type (Incandescent Lights, LED Lights), Application (Street Lights, Junction Signals, Cyclists, Pedestrians, Equestrians, Zebra Crossing), and Region 2024-2032
Abstract
The global traffic lights market size reached US$ 13.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 23.0 Billion by 2032, exhibiting a growth rate (CAGR) of 5.9% during 2024-2032. Rapid development of road transport infrastructure, increasing government investment in the construction of new expressways, and rising adoption of LED traffic lights represent some of the key factors driving the market.
Traffic lights are a system of signals used to control the moment of traffic. Incandescent lamps and light-emitting diode (LED) lights are some commonly used traffic lights. They are available in multiple colors, such as red, yellow, and green, that indicate different signals, including stop, slow down, and go ahead. Traffic lights are widely used to manage traffic systems on roads, airports, railways, and seaports. They are commonly installed at intersections, streets, pedestrian crossings, and cycling lanes. Traffic lights aid in the orderly movement of conflicting flow, provide better control at intersections, enhance traffic handling capacity, and relay instructions to vehicles. They also improve the safety and efficiency of pedestrians and vehicles and reduce incidences of accidents.
Traffic Lights Market Trends:
The rapid development of road transport infrastructure is one of the primary factors driving the market growth. Traffic lights are an essential component of traffic management, as they are installed on multiple-lane roadways, country-side streets, intersections, and hairpin bend to ensure orderly movement of traffic at a definite speed, minimize delays, reduce congestion, and prevent the risk of road accidents due to rash driving and drunk-and- drive. In addition to this, increasing investment by governments of several nations to construct new highways and expressways within prominent cities to enhance connectivity and boost economic activity is acting as another growth-inducing factor. Furthermore, the rising adoption of LED traffic lights that save energy, reduce maintenance costs, improve visibility, minimize failures, provide durability, and offer extended service life is positively influencing the market growth. Additionally, the introduction of smart traffic lights that are sensitive to the volume of vehicles and pedestrians instead of fixed-time light changing sequences and uses cameras and radar sensors to manage traffic based on real-time conditions is providing an impetus to the market growth. Moreover, the increasing utilization of solar-powered traffic lights that are eco-friendly, waterproof, easy to install, maintenance-free, and save energy is propelling the market growth. Other factors, including rising incidences of vehicular accidents, integration of artificial intelligence (AI), the implementation of various government initiatives to install traffic lights in certain accident-prone areas, and the proliferation of smart city infrastructure, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global traffic lights market, along with forecasts at the global, regional, and country level from 2024-2032. Our report has categorized the market based on product type and application.
Product Type Insights:
Incandescent Lights
LED Lights
The report has also provided a detailed breakup and analysis of the traffic lights market based on the product type. This includes incandescent and LED lights. According to the report, incandescent lights represented the largest segment.
Application Insights:
Street Lights
Junction Signals
Cyclists
Pedestrians
Equestrians
Zebra Crossing
The report has also provided a detailed breakup and analysis of the traffic lights market based on the application. This includes street lights, junction signals, cyclists, pedestrians, equestrians and zebra crossing.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, North America was the largest market for traffic lights. Some of the factors driving the North America traffic lights market include growing urbanization, rapid infrastructure development, growing traffic density, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global traffic lights market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Alphatronics Belgium, ARCUS USA Inc., Bartco Traffic Equipment Pty. Ltd., D.G. Controls Limited, Envoys Electronics Pvt. Ltd., Federal Signal Corporation, LITE-ON Technology Corporation, Pfannenberg Europe GmbH, Pyrotech Electronics Pvt. Ltd., SWARCO Holding AG, WERMA Signaltechnik GmbH + Co. KG, etc.
Key Questions Answered in This Report:
- How has the global traffic lights market performed so far and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global traffic lights market?
- What are the key regional markets?
- Which countries represent the most attractive traffic lights markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What is the competitive structure of the global traffic lights market?
- Who are the key players/companies in the global traffic lights market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Traffic Lights Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product Type
- 6.1 Incandescent Lights
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 LED Lights
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
7 Market Breakup by Application
- 7.1 Street Lights
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Junction Signals
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Cyclists
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Pedestrians
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
- 7.5 Equestrians
- 7.5.1 Market Trends
- 7.5.2 Market Forecast
- 7.6 Zebra Crossing
- 7.6.1 Market Trends
- 7.6.2 Market Forecast
8 Market Breakup by Region
- 8.1 North America
- 8.1.1 United States
- 8.1.1.1 Market Trends
- 8.1.1.2 Market Forecast
- 8.1.2 Canada
- 8.1.2.1 Market Trends
- 8.1.2.2 Market Forecast
- 8.1.1 United States
- 8.2 Asia-Pacific
- 8.2.1 China
- 8.2.1.1 Market Trends
- 8.2.1.2 Market Forecast
- 8.2.2 Japan
- 8.2.2.1 Market Trends
- 8.2.2.2 Market Forecast
- 8.2.3 India
- 8.2.3.1 Market Trends
- 8.2.3.2 Market Forecast
- 8.2.4 South Korea
- 8.2.4.1 Market Trends
- 8.2.4.2 Market Forecast
- 8.2.5 Australia
- 8.2.5.1 Market Trends
- 8.2.5.2 Market Forecast
- 8.2.6 Indonesia
- 8.2.6.1 Market Trends
- 8.2.6.2 Market Forecast
- 8.2.7 Others
- 8.2.7.1 Market Trends
- 8.2.7.2 Market Forecast
- 8.2.1 China
- 8.3 Europe
- 8.3.1 Germany
- 8.3.1.1 Market Trends
- 8.3.1.2 Market Forecast
- 8.3.2 France
- 8.3.2.1 Market Trends
- 8.3.2.2 Market Forecast
- 8.3.3 United Kingdom
- 8.3.3.1 Market Trends
- 8.3.3.2 Market Forecast
- 8.3.4 Italy
- 8.3.4.1 Market Trends
- 8.3.4.2 Market Forecast
- 8.3.5 Spain
- 8.3.5.1 Market Trends
- 8.3.5.2 Market Forecast
- 8.3.6 Russia
- 8.3.6.1 Market Trends
- 8.3.6.2 Market Forecast
- 8.3.7 Others
- 8.3.7.1 Market Trends
- 8.3.7.2 Market Forecast
- 8.3.1 Germany
- 8.4 Latin America
- 8.4.1 Brazil
- 8.4.1.1 Market Trends
- 8.4.1.2 Market Forecast
- 8.4.2 Mexico
- 8.4.2.1 Market Trends
- 8.4.2.2 Market Forecast
- 8.4.3 Others
- 8.4.3.1 Market Trends
- 8.4.3.2 Market Forecast
- 8.4.1 Brazil
- 8.5 Middle East and Africa
- 8.5.1 Market Trends
- 8.5.2 Market Breakup by Country
- 8.5.3 Market Forecast
9 Drivers, Restraints, and Opportunities
- 9.1 Overview
- 9.2 Drivers
- 9.3 Restraints
- 9.4 Opportunities
10 Value Chain Analysis
11 Porters Five Forces Analysis
- 11.1 Overview
- 11.2 Bargaining Power of Buyers
- 11.3 Bargaining Power of Suppliers
- 11.4 Degree of Competition
- 11.5 Threat of New Entrants
- 11.6 Threat of Substitutes
12 Price Analysis
13 Competitive Landscape
- 13.1 Market Structure
- 13.2 Key Players
- 13.3 Profiles of Key Players
- 13.3.1 Alphatronics Belgium
- 13.3.1.1 Company Overview
- 13.3.1.2 Product Portfolio
- 13.3.2 ARCUS USA Inc.
- 13.3.2.1 Company Overview
- 13.3.2.2 Product Portfolio
- 13.3.3 Bartco Traffic Equipment Pty. Ltd.
- 13.3.3.1 Company Overview
- 13.3.3.2 Product Portfolio
- 13.3.4 D.G. Controls Limited
- 13.3.4.1 Company Overview
- 13.3.4.2 Product Portfolio
- 13.3.5 Envoys Electronics Pvt. Ltd.
- 13.3.5.1 Company Overview
- 13.3.5.2 Product Portfolio
- 13.3.6 Federal Signal Corporation
- 13.3.6.1 Company Overview
- 13.3.6.2 Product Portfolio
- 13.3.6.3 Financials
- 13.3.6.4 SWOT Analysis
- 13.3.7 LITE-ON Technology Corporation
- 13.3.7.1 Company Overview
- 13.3.7.2 Product Portfolio
- 13.3.7.3 Financials
- 13.3.7.4 SWOT Analysis
- 13.3.8 Pfannenberg Europe GmbH
- 13.3.8.1 Company Overview
- 13.3.8.2 Product Portfolio
- 13.3.9 Pyrotech Electronics Pvt. Ltd.
- 13.3.9.1 Company Overview
- 13.3.9.2 Product Portfolio
- 13.3.10 SWARCO Holding AG
- 13.3.10.1 Company Overview
- 13.3.10.2 Product Portfolio
- 13.3.11 WERMA Signaltechnik GmbH + Co. KG
- 13.3.11.1 Company Overview
- 13.3.11.2 Product Portfolio
- 13.3.1 Alphatronics Belgium
List of Figures
- Figure 1: Global: Traffic Lights Market: Major Drivers and Challenges
- Figure 2: Global: Traffic Lights Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Traffic Lights Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Traffic Lights Market: Breakup by Product Type (in %), 2023
- Figure 5: Global: Traffic Lights Market: Breakup by Application (in %), 2023
- Figure 6: Global: Traffic Lights Market: Breakup by Region (in %), 2023
- Figure 7: Global: Traffic Lights (Incandescent Lights) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 8: Global: Traffic Lights (Incandescent Lights) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 9: Global: Traffic Lights (LED Lights) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 10: Global: Traffic Lights (LED Lights) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 11: Global: Traffic Lights (Street Lights) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 12: Global: Traffic Lights (Street Lights) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 13: Global: Traffic Lights (Junction Signals) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 14: Global: Traffic Lights (Junction Signals) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 15: Global: Traffic Lights (Cyclists) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 16: Global: Traffic Lights (Cyclists) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 17: Global: Traffic Lights (Pedestrians) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 18: Global: Traffic Lights (Pedestrians) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 19: Global: Traffic Lights (Equestrians) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 20: Global: Traffic Lights (Equestrians) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 21: Global: Traffic Lights (Zebra Crossing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 22: Global: Traffic Lights (Zebra Crossing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 23: North America: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 24: North America: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 25: United States: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 26: United States: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 27: Canada: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 28: Canada: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 29: Asia-Pacific: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 30: Asia-Pacific: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 31: China: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 32: China: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 33: Japan: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 34: Japan: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 35: India: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 36: India: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 37: South Korea: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 38: South Korea: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 39: Australia: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 40: Australia: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 41: Indonesia: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 42: Indonesia: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 43: Others: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 44: Others: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 45: Europe: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 46: Europe: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 47: Germany: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 48: Germany: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 49: France: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 50: France: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 51: United Kingdom: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 52: United Kingdom: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 53: Italy: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 54: Italy: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 55: Spain: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 56: Spain: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 57: Russia: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 58: Russia: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 59: Others: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 60: Others: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 61: Latin America: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 62: Latin America: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 63: Brazil: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 64: Brazil: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 65: Mexico: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 66: Mexico: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 67: Others: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 68: Others: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 69: Middle East and Africa: Traffic Lights Market: Sales Value (in Million US$), 2018 & 2023
- Figure 70: Middle East and Africa: Traffic Lights Market: Breakup by Country (in %), 2023
- Figure 71: Middle East and Africa: Traffic Lights Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Global: Traffic Lights Industry: Drivers, Restraints, and Opportunities
- Figure 73: Global: Traffic Lights Industry: Value Chain Analysis
- Figure 74: Global: Traffic Lights Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Traffic Lights Market: Key Industry Highlights, 2023 and 2032
- Table 2: Global: Traffic Lights Market Forecast: Breakup by Product Type (in Million US$), 2024-2032
- Table 3: Global: Traffic Lights Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 4: Global: Traffic Lights Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 5: Global: Traffic Lights Market: Competitive Structure
- Table 6: Global: Traffic Lights Market: Key Players
