SAN FRANCISCO , April 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Audible & Visual Signaling Devices - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 10; Released: February 2022 Executive Pool: 24787 Companies: 68 - Players covered include Auer Signal GmbH; E2s Warning Signals; Eaton Corporation PLC; Federal Signal Corporation; Moflash Signalling Ltd.; Patlite Corporation; Pfannenberg Group Holding GmbH; Potter Electric Signal Company LLC; R. Stahl AG; Tomar Electronics, Inc.; WERMA Signaltechnik GmbH + Co. KG, and Others. Coverage: All major geographies and key segments Segments: End-Use Industry (Oil & Gas, Chemical & Pharmaceutical, Food & Beverages, Energy & Power, Mining, Other End-Use Industries); Product (Strobe Beacons, Lighting, Bells & Horns, Fire Alarms/Call Points, Other Products) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; and Rest of Europe ); Asia-Pacific ; Rest of World.
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Global Audible & Visual Signaling Devices Market to Reach $2 Billion by 2026
Audible & visual (AV) signaling devices are a range of signaling systems specifically designed for use in industrial environments, which are characterized by harsh conditions and are prone to risk of explosion because of the presence of hazardous materials. AV signaling devices are made available in various forms with audio or visual or audio/visual combined functionality. Bells & Horns, Fire Alarms & Call Points, Intercoms, Lighting Systems, Speakers & Tone Generators, Strobe Beacons, and Video Surveillance Systems are the variants of AV signaling devices.
Key parameters that differentiate various AV signaling devices include Light Type and Intensity (Xenon or LED), Operating Mode (flashing, blinking or continuous), Sound Pressure Level (in decibels, dB), Covering Distance (in meters), Rated Voltage, Housing Material (PC, ABS, Aluminum or Blend), Enclosure Protection (IP55, IP66, IP67 etc.), and Mounting (direct or bracket). Modern AV signaling devices are offered with IP-rated enclosure protection, impact-proof housing, brightness adjustable, volume control, acoustic penetration, light sensors, and several other features.
Role and importance of AV signaling devices remains highly relevant among enterprises operating in oil & gas, chemical & pharmaceutical, food & beverages, energy & power, mining, pharmaceutical, transportation, pulp & paper, water & wastewater treatment, and shipbuilding among others.
Modern enterprises across industries, driven by industrial safety regulations as well as voluntary emphasis on workplace safety, seek to provide highest level of safety to their workers and the physical assets in the industry premises. To suffice their workplace safety strategies, enterprises follow strict safety norms that strive to prevent workplace hazards caused by flammable gases, combustible dusts, flammable and combustible liquid–produced vapors, and ignitable fibers, among others. Deployment of signaling devices potentially aids in preventing industrial hazards, especially visual signaling equipment such as strobe beacons, which function as real-time emergency management systems.
Amid the COVID-19 crisis, the global market for Audible and Visual Signaling Devices market estimated at US$1.7 Billion in the year 2022, is projected to reach a revised size of US$2 Billion by 2026, registering a compounded annual growth rate (CAGR) of 3.8% over the analysis period. The Middle East represents a major market for Audible and Visual Signaling Devices, and is projected to reach US$440.6 Million by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 6% over the analysis period.
While industrial safety regulations have given impetus to growth and progress of the market over the years, healthy trajectory in various end-use verticals, and wider availability of sophisticated signaling devices, have propelled market expansion in a major way. Entities such as Occupational Safety and Health Administration (OSHA) and the National Fire Protection Association (NFPA) have long formulated and implemented rules and regulations for industrial safety, while mandating or recommending the use of safety technologies in hazardous as well as non-hazardous industrial sites. The regulatory thrust steered widespread deployments of AV signaling devices, which generate signals during hazard events in workplaces to help people to evacuate from the danger area. Healthy trajectory in various end-use sectors paved way for growth and progress of AV signaling devices market. While deployments of AV signaling devices grew significantly in chemical & petrochemical, food & beverages, energy & power, oil & gas, and mining environments, their uptake remained robust in several other areas including shipbuilding, transportation, pharmaceutical, water & wastewater treatment, and pulp & paper, among others.
At the same time, roll out of top of class systems by leading vendors in durable, reliable, efficient and advanced designs and with industry certifications such as ATEX and IECEX accelerated growth momentum in a major way. Global industrial technology vendors have made sustained improvements to AV signaling devices through advanced R&D programs, thus widening the addressable market for these devices across end-use industries, product categories and geographies. Progressive advancements in sensor technology have enabled significant improvements to AV signaling devices. Extensive oil & gas industry in the Middle East , and rapid industrialization and rising manufacturing activity in Asia-Pacific and Latin America , is creating ample room for growth of AV signaling devices market. Demand for AV signaling devices in these regions is being driven by expanding food & beverage, oil & gas, and chemicals & petrochemicals sectors. The rise in demand for AV signaling devices in the US is attributed to high level of industrial penetration and stringent regulations. The dominating position is also due to increasing concerns about workplace injuries and the intense requirement for low hazard environment in the oil & gas facilities, chemical units, and refineries. These factors are coercing industry participants in the US to embrace reliable safety measures like AV signaling devices. More
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