Traffic Safety Market in India 2015-2019
About Traffic Safety Equipment
Traffic safety includes equipment and services that are designed to prevent and reduce the risk of accidents, curb errant vehicles movement, and ensure a safe commute for every individual. The components of traffic safety include guardrail, crash cushions, median barrier, and end treatments; breakaway supports for signs and light standards; and truck escape ramps.
TechNavio's analysts forecast the Traffic Safety market in India to grow at a CAGR of 17.27 percent over the period 2014-2019.
Covered in this Report
The report covers the present scenario and the growth prospects of the Traffic Safety market in India for the period 2015-2019. To calculate the market size, the report considers revenue generated from the sales of traffic safety products used in all types of road networks in India, including national highways, state highways, and single, double, and four-lane roads.
TechNavio's report, the Traffic Safety Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the landscape of the Traffic Safety market in India and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Traffic Safety Market in India 2015-2019
TechNavio recognizes the following companies as the key players in the Traffic Safety Market in India: 3M, Asian Paints Ltd., Avery Dennison (India) Pvt. Ltd and Reflexite India Pvt. Ltd.
Other Prominent Vendors in the market are: Ace Polymers, Automat Road Safety, GreenLite, Jenoptik, Lion Safety Store, National Manufacturers, Qifayath Enterprises, SA Traffic Safety and Vertex.
Commenting on the report, an analyst from TechNavio’s team said: “One key trend being witnessed in this market is the government’s “four Es” initiative, which is education, enforcement, engineering, and environment and emergency care. For each of the above initiatives, the working groups will require adequate support from traffic safety equipment manufacturers and service providers to ensure timely recommendations are issued to the government.”
According to the report, one of the major growth drivers of the market is the expansion and upgrade of existing road networks. The growing population and urbanization in cities have created an urgent need for proper road network and traffic safety measures.
Further, the report states that one of the key challenges in the market long transaction cycles. The end-users using traffic safety products are government authorities and private contractors, as they are involved in road safety and expansion activities. Given the stringent government regulations involved in the execution of deals and transactions, the lead time from tender approval to conversion, execution and receipt of payment is comparatively long for vendors.
Asian Paints, Avery Dennison (India), Reflexite Safety India , 3M India , Ace Polymers, Automat Road Safety, GreenLite, Jenoptik, Lion Safety Store, National Manufacturers, Qifayath Enterprises, SA Traffic Safety, Vertex