Multiple industries such as manufacturing, warehouse, marine and mining use machinery which are risky to operate and can be hazardous if not handled properly. The safety of machine operator has always been the priority in every industry. This demand for safety has led to development of a portfolio of products known as signaling devices. These signaling devices are capable of sensing faults and sending warning signals to avoid or minimize the chance of accidents. Signaling devices have proven to be effective in mitigating the anticipated accidents and early detection of glitches assist in smooth running of the production processes.
Browse 68 Market Tables, 65 figures spread through 200 Pages and an in-depth TOC on “Signaling Devices Market”:
According a recent study by IndustryARC the global signaling devices market is estimated to reach $2.13 billion by 2020. The oil & gas and chemical and petrochemical segment will account for nearly 34% of the revenue in 2020. According to the type of signaling devices the visual signaling devices will capture the maximum share of the market; beacons will dominate the market share by capturing nearly 28% of the total signaling devices market in 2020. The growing number of oil refineries will consistently keep the demand of signaling devices high. Also the flourishing E-commerce segment will require more warehouses which in turn will increase the demand for signaling devices.
The APAC region was the market leader in 2014 with nearly $188.7 million and is estimated to grow at a CAGR of 3.13% through 2015 to 2020. However the American region will have the highest growth rate of 3.48% in the forecast period. APAC will continue to be the signaling devices market leader in 2020 also.
The Major Players in this Market Include
- Patlite Corporation
- NHP Electrical Engineering Products
- General Electric
- Rockwell Automation
- R. STAHL Inc.
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Signaling device manufacturers have utilized product launches and product developments to expand entry into interconnected markets and enhance core competencies through additions to product portfolio as well as improving the existing product line.
The Global Signaling Device Market provides detailed analysis of the different type of equipment based on type, application and end user vertical.
The Signaling Devices Market study across various industries is incorporated in the Report
- Warehouse & Factories
- Food and Beverage
- Chemical & Petrochemical
- Oil & Gas
- Paper & Pulp
- Medical Devices
The overall signaling devices market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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