Global Turn Signal Lights Market Overview:
Turn signal lights is basically a type of light assembly, one of the lights at the front and back of a road vehicle that flash to show which way the vehicle is turning. It is also known as the turn signal indicator. This light is found on both sides of vehicles front and rear ends and can be activated by means of a lever. Turn signal lights are very crucial components in a car's lighting system. Though signaling may be a very simple thing and is often ignored, it is actually of key importance in ensuring user safety. Based on the type, the market has been segmented into traditional lighting, LED Lighting, and others. Based on application, the market has been segmented into commercial cars and passenger cars.
Growth Drivers
- The Rising Demand for Safety & Security among the People
- The Stringent Government Regulations Regarding Safety
- The Rising Numbers of Commercial & Passenger Cars among the Globe
Roadblocks
- The Availability of Counterfeit Products
Opportunities
- The Rising Automotive Industry in APAC Regions
Competitive Landscape:
Some of the key players profiled in the report are GE Lighting Company (United States), Osram (Germany), Philips (Netherlands), Bosch (Germany), Lumileds (Netherlands), Magneti Marelli (Italy), Federal-Mogul (United States), Hella (Germany), KOITO MANUFACTURING CO., LTD. (Japan) and Eiko (United States). Additionally, following companies can also be profiled that are part of our coverage like Stanley Electric Co., Ltd. (Japan), Life Elex Inc (Japan), Gentex Corporation (United States), Grote Industries, Inc. (United States), Panasonic (Japan), Kelai Enterprise Co Ltd (Taiwan), GMY (China), FSL Light (China) and Guangdong PAK Corp (China). Analyst at AMA Research see United States, German, Japanese, Chinese Vendors to retain maximum share of Global Turn Signal Lights market by 2026. Considering Market by Sales Channel, the sub-segment i.e. Offline will boost the Turn Signal Lights market.
On 10 Sept 2018, Osram and Koito have launched a series of standardized LED-based signal lamps. A uniform platform with three different light versions can cover all important signal applications in vehicles. This enables simple replacements, reduces complexity and overall costs for car manufacturers, and leads to faster development processes owing to adopted standards. OSRAMs XLS lamps LY5 and LW5 light up the new Toyota Corolla models.
What Can be Explored with the Turn Signal Lights Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Turn Signal Lights Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Turn Signal Lights
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Turn Signal Lights market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Turn Signal Lights market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Turn Signal Lights Manufacturers, Turn Signal Lights Traders/Distributors, Turn Signal Lights Importer/Exporter, Regulatory & Government Bodies and Downstream Vendors.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.