Automotive side turn indicator is an indicating device providing information to the person outside vehicle on turning a vehicle. It is conventional safety system to avoid road accidents. These indicators which are on exterior of the vehicle are useful as indicators to the outsiders. In recent years, many automakers have been incorporating side turn signal devices into the side view mirror housings, rather than mounting them on the vehicle's fenders.
Furthermore, the ever-increasing production of vehicles and the increase in demand for light-weight, luxurious vehicles are projected to boost the automotive side turn indicator Market during the forecast period. By taking safety of the consumer into account, auto-makers are concentrating more on the safety measures and indicators are useful in providing the information related to safety of the vehicle. Minor damage in the front of vehicle leads in the replacement of side turn indicators. So frequent replacement is main issue which will harm side turn indicator market in near future.
Based on its position automotive side turn indicator is categorized as fenders mounted and mirror mounted. Conventionally indicators are used to mount on the fenders’ of vehicle. Recently side turn indicators are mounted on mirrors.
By sales channel automotive side turn indicator market can be segmented as original equipment manufacturer (OEM) and aftermarket. There are large number of global key players in the production of the automotive side turn indicator. Most consumers prefer local manufacturers in order to replace the side turn indicator, which reduces the replacement cost. The OEM segment is expected to dominate the market during the forecast period.
Based on vehicle type, Automotive Side Turn Indicator Market can be classified as passenger vehicles (PV) and commercial vehicles (CV). Passenger vehicles include hatchback cars, sedans, multi- purpose vehicles (MPV), and sport utility vehicles (SUV). Commercial vehicles include light-weight commercial vehicles (LCV) and heavy commercial vehicles (HCV). Use of interior vehicles are more in PVs than CVs.
Based on geography, the automotive side turn indicator market can be segmented into: North America, Europe, Asia Pacific, and Rest of the World (ROW). Asia Pacific accounts for the major share of the global automotive side turn indicator Market, owing to the high adoption rate of vehicles and the booming automotive sector leading to an increased production of vehicles with automotive indicator, especially in China and India.
Some of the key players in the automotive indicator market are: Varroc Group, HELLA GmbH & Co. KGaA., Magneti Marelli S.p.A, Neolite ZKW, Continental AG, De Amertek Corp, Denso Corporation, Johnson Electric, Hyundai Mobis, KOITO MANUFACTURING CO., LTD., STANLEY ELECTRIC CO., LTD.