Analysis of Emergency Vehicle Lights market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Emergency vehicle lights are lighting devices that provide visual signaling to people in hazardous situations. The demand for emergency vehicle lights is witnessing an upward trend in the market as government are taking several initiative to tackle the underlying problems of crimes in respective countries. Therefore, in collaboration with local government agencies and with citizens, have resulted in increased number of emergency response vehicles as well as law enforcement vehicles. Thus, this is likely to boost the sales of emergency vehicle lights.
Moreover, with the rising accidents the public expectations for roadside safety has increased gradually. This has resulted in driving the demand for security products, thereby reinforcing the demand for emergency vehicle lights. However, emergency vehicle lights have a low replacement cycles as they tend to be operational for longer period owing to the implementation of LEDs in the lights.
Further, the increase in investments made by government in developed and developing countries for infrastructure development projects is anticipated to drive growth of the market as they are integrated with heavy machinery and equipment for safety purpose. Therefore, an upsurge in the government spending is expected to raise the requirement of emergency vehicle lights.
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North America is foreseen to grow at a significant rate during the forecast period. However, North America with the most COVID-19 cases and a key region for emergency vehicle lights coupled with a high concentration of emergency vehicle lights companies to witness a negative impact on sales in 2020.
In the near term, a regulation by government agencies is expected to drive the sales of emergency vehicle lights. For instance in Texas, lighting standards for highway maintenance vehicles and service vehicles requires to follow the guidelines by Texas Department of Transportation (TxDOT). This in turn, is foreseen to unlock more growth avenues for the emergency vehicle lights market.
Moreover, e-Commerce websites have gained significant popularity in offering emergency vehicle lights in North America as well as in Europe region. The outbreak of this pandemic has shifted the consumer focus towards e-Commerce platforms and several emergency vehicle lights manufacturers, have started providing these vehicle lights through their websites. This, in turn, will strengthen the demand for emergency vehicle lights during the forecast period.
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The COVID-19 pandemic continue to spread aggressively, with that the emergency vehicle lights market is set to witness a moderate downturn during the short term forecast i.e. 2020-2022. The emergency vehicle lights market is niche in nature and COVID pandemic has negatively impacted the market growth. It is estimated that the year on year growth will be dropped by double digits in negative by the end of 2020.
North America & Europe dominate the global emergency vehicle lights market and the impact of COVID-19 is significant in the both regions. This is attributed to negatively affect the sale of emergency vehicle lights in the short term forecast, but again sale of emergency vehicle lights is estimated to increase in the mid-term & long-term forecast period 2023-30.
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The emergency vehicle lights market is highly fragmented with the presence of numerous local and regional players. Some of the players in the market are Federal Signal Corporation, ECCO Safety Group, SoundOff Signal, Whelen Engineering Company, Inc., Tomar Electronics, Senken Group, Standby Group, Grote Industries, Roadtech Manufacturing and Truck-Lite Co., among others.
Prominent players are continuously focusing on product launch as their key strategy to strengthen their market presence and to gain competitive advantage over other players. For instance, in 2020, SoundOff Signal introduced its new range of nFUSE lightbar for the fire market. The newly launched product will be available in single and dual-stack forms and lengths to fit a small truck to a full-size apparatus.
The research report presents a comprehensive assessment of the Emergency Vehicle Lights Market and contains deep insights, facts, historical and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to Emergency Vehicle Lights Market segments such as by product, vehicle type, sales channel & region.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on Emergency Vehicle Lights Market segments and geographies.
For a better understanding, global Emergency Vehicle Lights market is being studied under Product, Vehicle Type, Sales Channel, and Region.
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The demand for emergency vehicle lights is increasing as governments are taking several initiatives to tackle the underlying problems of crimes in respective countries.
North America is expected to witness the highest growth over the forecast period.
The major players in the market include Federal Signal Corporation, ECCO Safety Group, SoundOff Signal, Standby Group, Grote Industries, Roadtech Manufacturing and Truck-Lite Co., and others.
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