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2021
Turn Signal Lights Market

Turn Signal Lights Market by Type (Traditional Lighting, LED Lighting, and Others), Application (Commercial Vehicle and Passenger Vehicle): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12759
Pages: NA
Oct 2021 | 195 Views
   
Author(s) : Sonia Mutreja
Tables: NA
Charts: NA
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Turn Signal Lights Market Outlook 2030 -

Turn signal lights or turn light indicators refers to the lights on the front and the rear ends of the motor vehicle that flash to show which way the vehicle is turning in, i.e., whether it is turning left or right. Turn signal on the driver's and passenger's side mirrors are available these days in some modern vehicles. The means of a lever can activate these lights. Though many people often ignore signaling, it is an important safety function as it shows the change in direction to other passersby when it is dark or during poor visibility. 

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast units

  Value (USD)

  Segments covered

  Product type, Application, and Region

  Regions covered

North America (U.S., Canada and Mexico), Europe (Germany, U.K, France, Russia and rest of Europe), Asia-Pacific (China, Japan, India, South Korea and rest of Asia-Pacific), LAMEA (Latin America, Middle East and Africa)

  Companies covered

GE Lighting, Osram, Philips, Bosch, Lumileds, Magneti Marelli, Tenneco (Federal-Mogul), Hella, Koito, Eiko, Stanley, Life Elex, Gentex, Grote, Panasonic, Kelai, GMY, FSL Light, Guangdong PAK Corp

 

COVID-19 Impact analysis

The COVID-19 outbreak has disrupted the automotive industry on a large scale, directly affecting the turn signal lights industry. It has led to the suspension of manufacturing facilities and a fall in the volume of sales. Also, the demand for both commercial and passenger vehicles has shown a downward trend in 2020. This decline, as expected, will affect the turn signal lights industry adversely, as the demand for lighting is comparatively low for vehicle production. The budget allocation for R&D is likely to be less, which will hamper the innovation of automotive lightning. However, companies are taking preventive measures to tackle the adverse effects of the outbreak.

Top Impacting Factors

  • Rise in demand for safety & security among the people, the rising number of commercial & passenger vehicles among the globe and the stringent government regulations regarding the safety are driving the global turn signal lights market.
  • The high cost of LED lights is one of the biggest concerns for the turn signal lighting market.
  • The rising automotive industry and evolution of new technologies can be seen as a lucrative opportunity for the market.

Market Trends

Application of Flexible OLED for Automotive Lighting

OLED (organic LED): the future of automotive lighting. LEDs became standard for all vehicle manufacturers, and therefore the use of OLED technology to the primary production vehicles has already begun. OLED offers immense possibilities in lamp and luminaire design. The OLED lighting technology in the automotive application market is additionally widely concerned. OLEDs are flat light sources that achieve more homogeneity and have the characteristics of planar light, lightness, independently addressable segments, flexibility, and transparency, which have brought impact and innovation to usual automotive lighting. As panel radiators, they're suitable for signal fire, taillight, or maybe within the vehicle interior lighting. OLED technology accomplishes entirely new design options for light sources and gains enormous interest among customers within the automotive industry. Also, OLED lighting technology in vehicle application is the need of the future. OLED lighting creates an entirely new world of opportunities for working with light. OLED may be a solid-state lighting technology that has many benefits over traditional options. It's a premium light that is elegant because it is functional and straightforward to use. OLED Works is collaborating with innovative vehicle manufacturers and Tier 1 suppliers to use the advantages of OLED light to extend safety on the road and energize the buyer experience.

Key segments covered:

Segments

Subsegments

  Type

  • Traditional Lighting
  • LED Lighting
  • Others

  Application

  • Commercial Vehicle
  • Passenger Vehicle

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

Key benefits of the report:

  • This study presents the analytical depiction of the turn signal lights industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of turn signal lights market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the turn signal lights market growth scenario.
  • The report provides a detailed turn signal lights market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the turn signal lights market research report:

  • Which are the leading market players active in the turn signal lights market?
  • What would be the detailed impact of COVID-19 on the market?
  • What current trends would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the turn signal lights market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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