COVID-19 Market Impact Analysis – LED Traffic Signs and Traffic Signals 2020-2024 | Evolving Opportunities with Alphatronics NV and Econolite | Technavio
LONDON–(COMMERCIAL THREAD) – The global light-emitting diode signaling signs and signals market is expected to grow by $ 356.63 million according to Technavio. This marks a significant market slowdown from 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period and the market is expected to grow. at a CAGR of over 8%.
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Read the 120-page report with TOC on ‘Light Emitting Diode Traffic Signs and Traffic Signals Market Analysis Report by Product (LED Traffic Lights & LED Traffic Signs), Geography (North America, Europe, APAC, South America and MEA) and the sector forecast, 2020-2024 “.
The market is driven by increased investment in the development of road infrastructure. In addition, the accelerated adoption of LED traffic lights is expected to drive the growth of the LED traffic signs and traffic signals market.
Many countries around the world are focusing on improving road infrastructure to enable business expansion and provide easy access to markets and suppliers. For example, developing countries such as India and China are increasing the efficiency of their road transport by widening roads, increasing connectivity and tightening traffic regulations. In May 2019, the Indian government announced an investment of over USD 17 billion in road and highway construction by 2024. Increased investment in transport infrastructure will result in regulated traffic and reduced accidents and lead to efficient and reliable travel. These factors will drive the demand for efficient lighting solutions such as LED traffic signs and signs and subsequently drive the market growth.
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Five major signaling and light-emitting diode signaling companies:
Alphatronics NV operates through a unified segment. The company offers a range of products such as LED traffic lights that are suitable for all weather conditions.
Econolite operates through the Unified segment. The company offers a range of products such as 12 inch aluminum vehicle signal, 8 inch poly vehicle signal, 12 inch poly vehicle signal and 12 inch aluminum pedestrian signal, among others.
Federal Signal Corp.
Federal Signal Corp. operates in segments such as environmental solutions and safety and security systems. The company offers Traffic Storm light bars through its subsidiary HighMark. It is a low profile light bar with ROC Solaris technology and a foldable LED panel designed for applications where signal via text or voice message is essential.
GE Current a Daintree Co.
GE Current a Daintree Co. operates through a unified segment. The company offers a range of products such as GTx Series, DR2 Repeater Signals, GTx 230V LED Signals and GT1 – Glowing Look Arrow Signs, among others.
Peek Traffic Corp.
Peek Traffic Corp. operates through segments such as data / AVCC products, traffic control, software, traffic lights and others. The company offers a range of products such as vehicle signals, pedestrian signals, countdown pedestrian signals, as well as lenses and visors, among others.
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Light Emitting Diode Traffic Signs and Signals Market Product Outlook (Revenue, USD Million, 2019-2024)
LED traffic lights
LED traffic signs
Geographic Outlook of Light Emitting Diode Traffic Signs and Traffic Signals Market (Revenue, USD Million, 2019-2024)
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