Global LED Traffic Signals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global LED Traffic Signals Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

LED Traffic Signals are signal lights made of LED light source, which are used to direct traffic and ensure safety. LED Traffic Signals are characterized by environmental protection, energy saving, strong adaptability to environment, high visibility, quick response to signal indication and long service life.

Market Overview:

The latest research study on the global LED Traffic Signals market finds that the global LED Traffic Signals market reached a value of USD 598.32 million in 2022. It’s expected that the market will achieve USD 856.48 million by 2028, exhibiting a CAGR of 6.16% during the forecast period.

LED technology continues to advance

LED is an important light-emitting device, and for a long time, it has been mostly used for indicators and display devices in electronic equipment. With the further in-depth research on new LED materials, LED light source technology has rapidly developed, and increasingly used in the field of traffic management.
In recent years, LED manufacturers have successfully developed new types of LEDs with higher luminous efficiency, so that they can be used in outdoor signaling devices, such as automobile anti-fog lights, automobile high-position brake lights, toll crossing signal lights, road construction zone signs Lights, highway signs, road traffic lights, etc., among which LEDs are the most eye-catching applications in road Traffic Signals. Due to the rapid development of LED technology, many cities have gradually begun to try signal lights using LEDs as light sources to replace signal lights using incandescent lamps as light sources. The use of LED traffic lights is obviously expanding.

Competition in the industry is fierce

For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry. Having an understanding of industry rivals is vital to successfully market a product. Positioning pertains to how the public perceives a product and distinguishes it from competitors. A business must be aware of its competitors marketing strategy and pricing and also be reactive to any changes made.
There are many influential manufacturers in the LED Traffic Signals market, with low market concentration and increasingly fierce competition in the industry. The R&D and production of LED Traffic Signals products involve multiple disciplines, and as a public product, client have higher requirements for quality. Due to the rapid technological update of the industry, enterprises in the industry need to have strong technical strength and R&D capabilities to ensure themselves market share.

Region Overview:

In 2022, the share of the LED Traffic Signals market in Asia Pacific stood at 41.23%.

Company Overview:

SWARCO is one of the major players operating in the LED Traffic Signals market, holding a share of 11.72% in 2022.

SWARCO

SWARCO’s leading idea is to improve quality of life by making the travel experience safer, quicker, more convenient and environmentally sound.
For this purpose, the Austrian traffic technology corporation produces and provides a large range of products, systems, services, and turnkey solutions for road marking, urban and interurban traffic management, parking, and public transport. Cooperative systems, infrastructure-to-vehicle communication, e-mobility, and integrated software solutions for the Liveable City complement the group’s future-oriented portfolio.
SWARCO’s products, systems and solutions contribute to greater road safety and intelligent traffic management in 80 countries.

Dialight

Dialight plc is an electronics company headquartered in the UK, specializing in LED lighting for hazardous locations. It is headquartered in London and has operations in North America, the United Kingdom, Continental Europe, Australia, Asia and South America. It is listed on the London Stock Exchange and is part of the FTSE SmallCap and FTSE techMARK Focus indexes.
Dialight is a global leader in sustainable LED lighting for industrial applications. Dialight's LED products are providing the next generation of lighting solutions that deliver reduced energy consumption and create a safer working environment.

Segmentation Overview:

By type, High Power LED segment accounted for the largest share of market in 2022.

High Power LED

High-power LED refer to LED with a power of 1W or more that are driven at a current of several hundred milliamperes or more.

Conventional LED

The general power and working current of Conventional LED are lower than those of high-power led. Common led power is 0.05W and working current is 20mA.

Application Overview:

The market's largest segment by application is the segment Urban Road, with a market share of 68.82% in 2022.

Key Companies in the global LED Traffic Signals market covered in Chapter 3:

PEEK Traffic
Econolite Group
Traffic Technologies
GE Current
SWARCO
WERMA
Leotek
Sinowatcher Technology
Wuxi Anbang Electric Co., Ltd
PEEK Traffic B.V.
Fama Traffic
Siemens
Dialight
Nippon Signal
La Semaforica

In Chapter 4 and Chapter 14.2, on the basis of types, the LED Traffic Signals market from 2018 to 2029 is primarily split into:

High Power LED
Conventional LED

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the LED Traffic Signals market from 2018 to 2029 covers:

Urban Road
Rural Road
Railway
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)