September 15, 2023 06:21 ET | Source: Zion Market Research Zion Market Research
New York, NY, Sept. 15, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Truck Mounted Attenuator (TMA) Market By Type (TL2, TL3, And Others), By Application (Urban Road, Highway, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. Rotary Hedge Cutter
“According to the latest research study, the demand of global Truck Mounted Attenuator (TMA) Market size & share in terms of revenue was valued at USD 210.34 million in 2022 and it is expected to surpass around USD 258.94 million mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 2.66% during the forecast period 2023 to 2030.”
What is Truck Mounted Attenuator (TMA)? How big is the Truck Mounted Attenuator (TMA) Industry?
The global truck mounted attenuator (TMA) market size was evaluated at $210.34 million in 2022 and is slated to hit $258.94 million by the end of 2030 with a CAGR of nearly 2.66% between 2023 and 2030.
A truck-mounted attenuator, also known as an impact attenuator, is a device that is utilised for the purpose of lowering the amount of damage that is inflicted on persons, property, and automobiles as a result of a collision involving a careening motor vehicle. To put it more specifically, the device has been meticulously developed to absorb the kinetic energy that is created when a vehicle collides with another errant motor vehicle. As a matter of fact, crash attenuators serve to preserve the safety of workers who are performing their jobs in close proximity to a roadway and to assure the safety of drivers. In addition to this, the truck-mounted attenuator assists them in lowering the probability of being killed or injured.
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Global Truck Mounted Attenuator (TMA) Market: Growth Factors
In order to increase worldwide market trends, there is a massive demand for products that alert drivers to potential hazards on the road.
The global truck-mounted attenuator (TMA) market trends will be driven by the increasing need for devices that notify commuters of the possible hazards of being involved in collisions. The scope of demand in the global market is expected to expand as a result of the massive need for lowering the number of incidents and crashes involving automobiles on roadways. The imperative of cutting down on crash expenses has made a significant contribution to the overall revenues of the global market. According to a number of studies, TMA is effective at lowering the risk of rear-end collisions with cars over a short period of time.
In addition, the widespread application of products that enhance road safety will be of great assistance to the global market in reaching new heights of expansion. In the coming years, the breadth of the global market will expand in response to the imperative of lowering the cost of vehicle repairs and minimising the amount of damage sustained by cars. In the years ahead, the introduction of brand-new products is projected to make a valuable contribution to the overall income of the global market. For example, in April of 2019, the company Blakedale, which specialises in the rental and sale of road safety vehicles, made an announcement on the development of its line of traffic management vehicles fleet vehicles by introducing the Scorpion II crash cushion vehicle. Because of this trend, it is highly expected that the growth of the global market will be accelerated in the years to come.
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Truck Mounted Attenuator (TMA) Market: Segmentation Analysis
The market for truck mounted attenuators, abbreviated as TMA, is segmented based on three factors: type, application, and geography.
In terms of the types of attenuators they produce, the global market for truck-mounted attenuators (TMA) may be broken down into three distinct segments: TL2, TL3, and others. In addition, it is expected that the TL3 segment, which had over half of the global market share in 2022, will report the highest CAGR in the years to come. The widespread installation of truck-mounted attenuators of the TL3 type on interstates and city streets may be responsible for the anticipated expansion of this market in the years to come.
The global market for truck-mounted attenuators (TMA) can be segmented into urban roads, highways, and other types of roadways according to the application they are used for. In addition, the highway sector, which accounted for a significant portion of the global market in 2022, is anticipated to play a leading role in the expansion of the global market throughout the course of the projected span of time. The segmental expansion over the predicted timeline may be sensitive to large-scale demand for truck-mounted attenuators for highways. These attenuators are designed to limit the amount of damage that is caused to automobiles and commuters as a result of collisions with errant motor vehicles and other types of road accidents. In addition, there is a growing demand for highways as a product as a result of the imperative to cut down on the number of people killed and injured in automobile accidents.
The global Truck Mounted Attenuator (TMA) market is segmented as follows:
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Some of the main competitors dominating the global Truck Mounted Attenuator (TMA) market include -
Key Insights from Primary Research:
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Regional analysis of the Truck Mounted Attenuator (TMA) market is essential for understanding how the market is distributed across different geographic areas. It helps identify regional trends, factors affecting market growth, and opportunities or challenges specific to certain regions. Here's a brief regional analysis outline for the TMA market:
Key factors to consider in regional analysis include local regulations, economic conditions, infrastructure development projects, urbanization rates, and the level of awareness regarding road safety. Additionally, understanding the competitive landscape and local market players in each region is crucial for market entry and expansion strategies.
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