About Traffic Safety Equipment
The traffic safety equipment provides visible and physical barriers that help to control traffic flow. Traffic safety equipment used for the direction of highway traffic in case of an accident, road construction, to mark dangerous curves or to provide barriers to traffic in parking lots and garages. It helps to manage routine or daily traffic on roadways and highway systems. Traffic safety equipment includes brightly colored or reflective cones, flares or flashing lights, barrels and reflective tapes. This type of equipment also used to protect sensitive facilities such as airports and restricted buildings.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 6.5% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. This market has various growth opportunities that leading players capture via tracking the ongoing process enhancement and huge investment in market growth strategies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Traffic Safety Equipment market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Avery Dennison (United States), 3M (United States), Honeywell (United States), Ergodyne (United States), Emedco (United States), SWARCO (Austria), Evelux USA (United States), Pexco (United States), Roadtech Inc (United States) and RoadSafe Traffic Systems (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Tamis Corporation (United States), Cortina (United States) and TrafFix Devices (United States).
Segmentation Overview
AMA Research has segmented the market of Global Traffic Safety Equipment market by Type (Traffic vests and rainwear, Traffic cones, Traffic barricades, Tube delineators and Others), Application (Industrial Use, Commercial Use and Municipal Use) and Region.
On the basis of geography, the market of Traffic Safety Equipment has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Chanel, the sub-segment i.e. Online will boost the Traffic Safety Equipment market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend of Environment-Friendly Traffic Safety Products
Market Growth Drivers:
Increased Accidents and Injuries on Road in Developing Counties, Increasing Number of Vehicles per Year and Government Safety Initiatives
Challenges:
Various Environmental Conditions Affect Traffic Safety Products
Restraints:
Low Durability of the Products and Fluctuations in the Raw Material Prices
Opportunities:
Rising Demand for Safety Equipment with Improved Quality and Technological Innovations and Growing Automobile Industry Worldwide
Market Leaders and their expansionary development strategies
In April 2022, Wanco and HAAS Alert announced a partnership to integrate HAAS Alert’s Safety Cloud into Wanco’s connected traffic safety products. This collaboration aims to deliver digital alerts to motorists approaching work zones and other traffic-controlled areas.
In March 2022, RoadSafe Traffic Systems, Inc. acquired Liddell Bros, Inc. and Liddell Leasing, Corp. This acquisition strengthens RoadSafe's position as a national leader in traffic control and pavement marking industries.
Key Target Audience
Traffic Safety Equipment Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.