How large is the traffic equipment market, and what is its growth trajectory?
The traffic equipment market size has grown strongly in recent years. It will grow from $7.64 billion in 2024 to $8.17 billion in 2025 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to growth in investment, high incidence of accidents, increasing traffic volumes, development of road infrastructure, and stringent government regulations.
The traffic equipment market size is expected to see strong growth in the next few years. It will grow to $10.55 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to the surge in demand for sustainable traffic solutions, concerns related to carbon emissions, growth in the population, increasing need for public security, and increasing adoption of smart traffic management solutions. Major trends in the forecast period include technological advancements, developments in traffic management technologies, the introduction of mobility as a service (MaaS), automated technology solutions, and integrated sensors.
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What are the key forces behind the traffic equipment market’s growth in recent years?
The growing number of road accidents is expected to propel the growth of the traffic equipment market going forward. Road accidents are incidents that occur on roadways involving vehicles, pedestrians, or cyclists, leading to injuries, fatalities, or damage to property, often caused by factors such as human error, vehicle malfunction, or adverse weather conditions. The growing number of road accidents can be attributed to several factors, including distracted driving, speeding, driving under the influence of alcohol or drugs, poor road conditions, and inexperienced drivers. Traffic equipment, such as cones, barriers, and warning signs, helps manage road accidents by directing traffic, ensuring safety, and preventing further collisions. For instance, in January 2024, according to the Road Safety Authority, an Ireland-based state agency that promotes road safety, in 2023, road fatalities rose by 19%, with 184 deaths in 173 fatal collisions, compared to 155 deaths in 149 collisions in 2022, marking an increase of 29 deaths. Therefore, the growing number of road accidents is driving the traffic equipment market.
What are the major segments of the traffic equipment market?
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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Which companies dominate 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 major trends will shape the traffic equipment market during the forecast period?
Major companies operating in the traffic equipment market are focusing on developing advanced products such as next-generation traffic controllers to improve traffic flow efficiency and enhance road safety. Next-generation traffic controllers are advanced traffic management systems designed to optimize traffic flow and enhance safety by integrating real-time data from various sources, including sensors and connected vehicles while utilizing cutting-edge technologies such as artificial intelligence and machine learning for improved decision-making and operational efficiency. For instance, in April 2023, Yunex Traffic, a Germany-based company that develops innovative mobility ecosystems, launched the Yutraffic Blade Advanced Traffic Controller Platform, a cutting-edge computing system with a dual-core processor, customizable analytics, CV2X capabilities, and a 7-inch touchscreen, designed to handle complex intersection traffic control now and in the future.
What are the key regional dynamics of the traffic equipment market, and which region leads in market share?
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.
What Does The Traffic Equipment Market Report 2025 Offer?
The traffic equipment market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Traffic equipment refers to tools and devices used to control, manage, and monitor vehicle and pedestrian movement on roads and highways. This includes traffic lights, signs, cones, barriers, speed cameras, and electronic signaling systems. The equipment helps ensure road safety, regulate traffic flow, and reduce accidents.
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