Signaling Devices Market was valued at US$ 2.95 Bn. in 2020 and expected to grow at a CAGR of 5.2 % during the forecast period (2021-2027). Thanks to the growing trend audible signal device segment use has boosted demand for the Global Signaling Devices Market.
Signaling Devices Market Overview:A signaling device is a type of electric device that detects flaws in the system and sends warning signals to reduce the chances of injury. Different types of signaling devices signal lights, tower lights, audible alarms, and visual audible alarms. Signaling devices are used in a variety of applications and are an integral ingredient of any safety management system, including earthquake warning systems, dam safety systems, defense warning systems, and fire alarm systems. Due to its high performance, cost efficiency, and high safety are creating a huge market. As a result, the global signaling device market is expected to reach US$ 4.2 Bn. by 2027. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Signaling Devices Market Dynamics:Flexible pricing of signaling devices is a major factor driving market growth, as customers can select their products based on their needs. Furthermore, the signaling devices are widely available and can be customized to meet the needs of the customer, which contributes to the demand’s growth. The growing emphasis on industrial safety measures, as well as the rise in LED lighting solutions, are driving the growth of the signaling devices market. In December 2021, Kono Corporation Ltd, a design, research, and manufacturing technology corporation, has launched a new subsidiary, “Kono America Inc”, and successfully launched a new product, the S-Light, an emergency signaling device for all sorts of vehicles. In 2020, the United States took first place by importing Lighting/visual signaling equipment’s in the globe and is valued at US$ 4.23 Bn. Increasing utilization of signaling devices in railway operations created high demand in the market. In the world, the United States constitutes the largest share of the rail network by having more than 150462 km length followed by Russia (85495 km), India (68156), and china (68142). These signaling devices are used in controlling and regulating the movement of rails safely and accurately. This rail transportation can become a potential market for signaling devices by 2027. In 2020, McNaughton-McKay Electric Co based in the United States is the largest supplier of signaling devices in the globe. Followed by Northeast Electrical Distributors and Graybar Electric Co Inc as shown below figure. Strict safety rules and regulations are driving the signaling devices market. Lack of awareness about industrial work safety and negligence about the installation of warning systems can be restraints. The cost could be one of the restraints, especially for new or small-scale industrial setups where safety standards are being neglected. To minimize losses caused by natural disasters such as earthquakes, tsunamis, hurricanes, volcano eruptions, and others, safety measures such as signaling devices can be implemented.
Signaling Devices Market Segmentation:Based on Type Segment, The Signaling Devices Market is sub-segmented into visual signaling devices and audible signaling devices. The audible signaling devices segment dominates the global market and it held a share of 51 % in 2020. Where visual signals are insufficient in providing alert signals and lead to unexpected accidents in industries but audible signal devices provide quick notification for equipment, systems, or process alarms and help in securing the organization. Buzzers or horns with continuous or pulse notifications are among the gadgets available. Increasing its applications in the refineries, chemical plants, oil and exploration and marine terminals for transportation and storage are boosting the signaling device market. Among these chemical plants holds a high share of more than 38% in the signaling market. USA and Germany are considered the largest chemical-producing countries in the world. In December 2021, Reliance industries agreed with RSC Ltd (TA'ZIZ), a chemical company based in Abu Dhabi by investing US$ 2 Bn. This joint venture set up a petrochemical plant in the UAE, which involves the production of “Chlor-alkali, ethylene dichloride and polyvinyl chloride”. This recent development creates a huge demand for signaling devices in the Asia Pacific region. Based on the Application Segment, the Signalling Devices Market is sub-segmented into hazardous area signaling, fire & industrial signaling, and wide area signaling. The fire & industrial signaling segment dominates the global market and was valued at US$ 3.2 Bn in 2020. Increasing fire accidents in industries lead to large losses to the organization and the death of the workers. In India Delhi, Maharashtra and Gujarat have the highest number of cases and deaths in fire and industrial accidents. According to “IndustriALL” a multinational workers' organization, 30 industrial accidents have occurred in India since May 2020, killing at least 75 people. Increasing government regulations for the safety of the workers creates a large market for signaling devices.
Signaling Devices Market regional insights:In 2020, Asia-Pacific held the largest share in the global signaling device market. Technological advancements and a preference for energy-efficient products are the major factors driving the market growth. Recent government initiatives in India for the expansion of the manufacturing sector like MAKE IN INDIA and concern towards the safety of the working class are creating a large market in this region. The presence of large key players in the global leading countries like China and India, and the presence of large railway networks in both countries are boosting the growth of the global market. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Signaling Devices Market dynamics, structure by analyzing the market segments and projecting the Signaling Devices Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Signaling Devices make the report investor’s guide.
Signaling Devices Market Scope: Inquiry Before Buying
Signaling Devices Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 2.95 Bn. Forecast Period 2021 to 2027 CAGR: 5.2 % Market Size in 2027: US $ 4.2 Bn. Segments Covered: by Type • visual signaling devices • audible signaling devices by Application • Hazardous area signaling • Fire & industrial signaling • Wide area signaling
Signaling Devices Market, by Region• North America • Europe • Asia Pacific • The Middle East and Africa • South America
Signaling Devices Market Key Players• Siemens AG • Honeywell International, Inc. • ABB Ltd. • Rockwell Automation, Inc. • Eaton Corporation PLC (Cooper Industries) • Emerson Electric Co. • Patlite Corporation • Thales Group • R. Stahl AG • E2S Warning Signals • Koninklijke Philips Electronics N.V • NHP Electrical Engineering Products Pty Ltd. • Federal Signal Corporation • Koito Manufacturing Co • WermaSignaltechnik GmbH • L3 Communications Holdings, • Potter Electric Signal Company, LLC • Tomar Electronics, Inc. • Moni Log • HollySys Automation Technologies Ltd Frequently Asked Questions: 1. Which region has the largest share in Signaling Devices Market? Ans: Asia-Pacific held the largest share in 2020. 2. What is the growth rate of the Signaling Devices Market? Ans: The Signaling Devices Market is growing at a CAGR of 5.2 % during the forecasting period 2021-2027. 3. What segments are covered in Signaling Devices Market? Ans: Signaling Devices Market is segmented into type, component, and end-user. 4. What is the study period of this market? Ans: The Signaling Devices Market is studied from 2020 to 2027.
1. Global Signaling Devices Market: Research Methodology 2. Global Signaling Devices Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Signaling Devices Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Signaling Devices Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Signaling Devices Market Segmentation 4.1 Global Signaling Devices Market, by Type (2020-2027) • visual signaling device • audible signaling devices 4.2 Global Signaling Devices Market, by Application (2020-2027) • Hazardous area signaling • Fire & industrial signaling • Wide area signaling 5. North America Signaling Devices Market (2020-2027) 5.1 Global Signaling Devices Market, by Type (2020-2027) • visual signaling device • audible signaling devices 5.2 Global Signaling Devices Market, by Application (2020-2027) • Hazardous area signaling • Fire & industrial signaling • Wide area signaling 5.3 North America Signaling Devices Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Signaling Devices Market (2020-2027) 6.1. Asia Pacific Signaling Devices Market, by Type (2020-2027) 6.2. Asia Pacific Signaling Devices Market, by Application (2020-2027) 6.3. Asia Pacific Signaling Devices Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Signaling Devices Market (2020-2027) 7.1 Middle East and Africa Signaling Devices Market, by Type (2020-2027) 7.2. Middle East and Africa Signaling Devices Market, by Application (2020-2027) 7.3. Middle East and Africa Signaling Devices Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Signaling Devices Market (2020-2027) 8.1. Latin America Signaling Devices Market, by Type (2020-2027) 8.2. Latin America Signaling Devices Market, by Application (2020-2027) 8.3. Latin America Signaling Devices Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Signaling Devices Market (2020-2027) 9.1. European Signaling Devices Market, by Type (2020-2027) 9.2. European Signaling Devices Market, by Application (2020-2027) 9.3. European Signaling Devices Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Siemens AG 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Honeywell International, Inc. 10.3 ABB Ltd. 10.4 Rockwell Automation, Inc. 10.5 Eaton Corporation PLC (Cooper Industries) 10.6 Emerson Electric Co. 10.7 Patlite Corporation 10.8 Thales Group 10.9 R. Stahl AG 10.10 E2S Warning Signals 10.11 Koninklijke Philips Electronics N.V 10.12 NHP Electrical Engineering Products Pty Ltd. 10.13 Federal Signal Corporation 10.14 Koito Manufacturing Co 10.15 WermaSignaltechnik GmbH 10.16 L3 Communications Holdings, 10.17 Potter Electric Signal Company, LLC 10.18 Tomar Electronics, Inc. 10.19 Moni Log 10.20 HollySys Automation Technologies Ltd