Manufacturers are focusing on collaborating directly with the government and industry players which is supporting the sales via direct to customer fragment.
ROCKVILLE, MD / ACCESSWIRE / October 29, 2020 / The emergency warning lights market is poised to expand at a value CAGR of 4% by 2030 end. The market is foreseeing a shift towards e-commerce website sales from the direct-to-customer channel which is supporting the demand for emergency warning lights throughout the assessment period.
"The emergency warning lights market is projected to grow at a steady pace, fuelled by the need for material safety due to rising criminal activities." says the Fact.MR report.
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Emergency Warning Lights Market - Key Takeaways
- The government authorities' end-user segment will remain lucrative over other segments during the forecast period.
- E-commerce's website sales channel is gaining traction in the global market.
- LED product category will account for the majority of the market share throughout the assessment period.
- North America will remain lucrative in the global market over the next ten years.
Emergency Warning Lights Market - Driving Factors
- Increasing crime activities and initiatives to tackle the issues will be driving the demand for security products, hence complementing the market development.
- Strict regulations pushing public authorities and businesses towards the installation of emergency lights boosting sales over the forecast period.
Emergency Warning Lights Market - Constraints
The COVID-19 pandemic has inflicted huge issues in the market space, due to restrictions enforced by governments related to export and import. These challenges will have huge implications for the global market in the near future.
Anticipated Market Impact by COVID-19 Outbreak
The COVID-19 outbreak has impacted the majority of the sectors. Although, the unprecedented COVID-19 impact will have short-term consequences on the emergency warning lights market. The market growth will rely on expansion in construction and industrial, which would allow producers to meet demand. Moreover, focus on law enforcement and public safety is projected to boost the opportunities of the market in the approaching years.
Explore the Emergency Warning Lights market comprising of 173 figures and 98 data tables, along with the table of contents. You can find a detailed market segmentation on https://www.factmr.com/report/1438/emergency-warning-lights-market
Competition Landscape
The emergency warning lights market is greatly fragmented, with the existence of several regional and local companies. The competition scenario of the market has been led by several product launches. Some of the companies in the market are ECCO Safety Group, Federal Signal Corporation, Senken Group, Tomar Electronics, SoundOff Signal, Truck-Lite Co., Roadtech Manufacturing, Grote Industries, and Whelen Engineering Company.
More on the Report
The Fact.MR's market research report provides in-depth insights into the emergency warning lights market. The market is scrutinized based on product (incandescent, halogen, and LEDs), end user (institutional [industrial {thermal power plants, oil & gas and others}, construction], individual/residential, and government authorities), and sales channel (direct-to-customer, third-party online channels, specialty stores, and modern trade channels), across five major regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)).
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SOURCE: FactMR