Press release
Traffic Equipment Market Size Projected To Reach $10.54 Billion By 2034 With A Cagr Of 6.6%
Traffic Equipment
What Is the Projected Growth of the Traffic Equipment Market?
The traffic equipment market size will grow from $7.64 billion in 2024 to $8.17 billion in 2025 at a CAGR of 6.9%. The growth in the historic period can be attributed to increased investment, a high incidence of accidents, rising traffic volumes, road infrastructure development, and stringent government regulations.
The traffic equipment market size is projected to reach $10.55 billion by 2029, growing at a CAGR of 6.6%. This growth is driven by increasing demand for sustainable traffic solutions, concerns about carbon emissions, population growth, rising needs for public security, and adoption of smart traffic management solutions. Key trends include technological advancements, developments in traffic management technologies, the rise of mobility as a service (MaaS), auto
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What Are the Different Traffic Equipment Market Segments?
The traffic equipmentmarket covered in this report is segmented -
1) By Equipment Type: Traffic Safety Barriers, Traffic Cones, Traffic Safety Signs, Shell Protection, Digital Products, Running Plates, Traffic Beams, Shut-off Gates, Tenting, Other Equipment Types
2) By Traffic Management Solution: Smart Signaling, Route Guidance And Route Optimization, Traffic Analytics, Smart Surveillance, Automatic Number Plate Recognition System (ANPR), Facial Recognition, Pedestrian Detection, Incident Detection, Other Traffic Management Solutions
3) By Traffic Control Application: Urban Traffic, Highway Management, Inter-urban, Parking Management, Info-mobility, Public Transport, Tolling, Construction Zone, Other Traffic Control Applications
4) By Distribution Channel: Direct Sales, Government Agencies, Distributors Or Online Platform
5) By End-user: Government And Municipal Authorities, Construction Companies, Transportation Agencies, Commercial And Residential Areas, Education Institutions, Airports And Seaports, Industrial, Other End-users
Subsegments:
1) By Traffic Safety Barriers: Concrete Barriers, Plastic Barriers, Steel Barriers, Portable Barriers
2) By Traffic Cones: Standard Traffic Cones, Collapsible Traffic Cones, Lighted Traffic Cones, Weighted Traffic Cones
3) By Traffic Safety Signs: Regulatory Signs, Warning Signs, Informational Signs, Custom Signs
4) By Shell Protection: Shell Panels, Shell Covers, Shell Shields
5) By Digital Products: Digital Message Signs, Radar Speed Signs, Traffic Cameras, Traffic Monitoring Systems
6) By Running Plates: Steel Running Plates, Composite Running Plates, Rubber Running Plates
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What Are the Primary Drivers Shaping the Traffic Equipment Market?
The increasing number of road accidents is expected to drive the traffic equipment market. Road accidents, involving vehicles, pedestrians, or cyclists, often result from factors like human error, vehicle malfunction, or bad weather. These accidents are influenced by distracted driving, speeding, driving under the influence, poor road conditions, and inexperienced drivers. Traffic equipment like cones, barriers, and warning signs play a vital role in managing accidents, ensuring safety, and preventing further collisions. For example, in January 2024, the Road Safety Authority reported a 19% rise in road fatalities in Ireland in 2023 compared to 2022, prompting greater demand for traffic management tools.
Which Companies Are Leading in the Traffic Equipment Market?
Major companies operating in the traffic equipment market are Honeywell International Inc., 3M Company, Siemens Mobility, Indra Sistemas S.A., Brady Worldwide Inc., SWARCO, Jenoptik Group, 3A Composites GmbH, Kapsch TrafficCom, RoadSafe Traffic Systems Inc., Pexco LLC, The Cortina Companies, TrafFix Devices Inc., Fortran Traffic Systems Limited, Metro Infrasys Pvt. Ltd., Omnitec Group, All Traffic Solutions, Gatekeeper Security Inc., Evelux USA, North America Traffic, Roadtech Manufacturing, Cubic Corporation
What Are the Major Trends Shaping the Traffic Equipment Market?
Companies in the traffic equipment market are focused on creating next-generation traffic controllers to improve traffic flow and road safety. These advanced controllers optimize traffic management by integrating real-time data from various sources, including sensors and connected vehicles, and use technologies like AI and machine learning to enhance decision-making. In April 2023, Yunex Traffic, a Germany-based mobility solutions provider, unveiled the Yutraffic Blade Advanced Traffic Controller Platform, a dual-core processor system with customizable analytics, CV2X capabilities, and a touchscreen, designed to manage complex intersection traffic control efficiently.
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What Are the Top Revenue-Generating Geographies in the Traffic Equipment Market?
Asia-Pacific was the largest region in the traffic equipment market in 2024. The regions covered in the traffic equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Traffic Equipment Market?
2. What is the CAGR expected in the Traffic Equipment Market?
3. What Are the Key Innovations Transforming the Traffic Equipment Industry?
4. Which Region Is Leading the Traffic Equipment Market?
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