Signaling Devices Market Growth Fuelled By Safety Precautions In Oil Refineries

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A flourishing e-commerce sector, enhanced warehouse logistics activity, substantial increase in the number of oil refineries, and a massively rising concern for safety pertaining to explosion-proof locations are some of the propelling factors behind the growth of signaling devices market, according to a business intelligence report published by IndustryARC. As per the findings of this report, the analyst estimates the signaling device market to progress at a healthy compound annual growth rate (CAGR) of 3.7% during the forecast period of 2018-2023. The report further estimates the eventual market size in 2023 accurately at $2,391 million.

The report is titled, ‘Signaling Devices Market: Signaling Devices Market: By Type (Visual, Audible and Others); By Connectivity (Wired Connectivity Service, Wireless Connectivity Service); By Application (Hazardous Area Signaling, Fire and Industrial Signaling, Wide Area Signaling); By End-User (Marine, Mining, Factories, Aerospace, Defense, Oil & Gas, Paper & Pulp, Others) By Geography – Forecast (2018-2023).’ Automation analyst at IndustryARC has spent a considerable amount of time analyzing the market in order to statistically present important aspects of this market including growth drivers, trends, market opportunities, and segmentation.

Global Signaling Devices Market: Regional Analysis

If there is consistent automotive innovation happening in any part of the world, it is in the APAC region. Automotive industry in China, Japan, and India has been flourishing at an extraordinary rate which has strengthened the market for signaling devices. According to the IndustryARC report, the signaling devices market in the APAC region had a noticeable market share of $837 million in the year 2018. The constant growth of the warehousing industry is a significant reason for APAC leading this market geographically according to our analyst. Another factor that has influenced the signaling devices market in this region is stringent governmental regulation in countries such as China and India for practicing safety drills and installation of safety equipment across all industrial plants. This has majorly triggered manufacturing and supply of signaling devices in APAC.

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Growth Drivers and Disruptive Trends

• Increasing Warehouses

Amazon and other e-commerce websites have been setting up an increasing number of warehouses in all the countries for enhancing their supply chain management and delivering faster, thus establishing consumer interest and trust. Warehouses are important end-use locations for signaling devices such as bells, roller doors, beacons, buzzers, and others which as inadvertently generated a high demand for the market of signaling devices.

• Oil And Gas Industry

Oil and gas refineries are laced with hazardous locations which can often set alight and cause a colossal amount of damage. With rising accidents that have taken place at these facilities, governments of all the countries have made safety more stringent and necessary. These places need proper signaling devices for evading any disasters that could be detrimental to human life as well as the entire environment in general.

• Rising Use of Beacons

Beacons are an important signaling device that emits strong signals and are used for gathering attention. They have been disruptive in the signaling devices market as they have found use in a large number of end users including vehicles, defense communication, commercial buildings, aerodromes, and at sea. They are now being sold in various types including rotating, strobe, radio, flashing, and others.

Global Signaling Devices Market: Competitive Landscape

Several key market players have made a paramount shift in the signaling devices market by bettering their revenue acquisition techniques. According to the analyst, some of these companies are ABB Group, Siemens AG, Rockwell Automation, Patlite Corporation, EAO AG, Omron Corporation, Robert Bosch GMBH, Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Eaton Corporation PLC, R. Stahil AG, E2S Warning Signals Ltd., Banner Engineering Corporate, NHP, Werma Signaltechnik GmbH, and Auer Signalgerate GmbH.

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Related Reports:

A. Hazardous Area and Safe Zone Signalling Device Market
https://industryarc.com/Report/18861/hazardous-area-and-safe-zone-signalling-device-market

B. Safe Zone Signalling Device Market
https://industryarc.com/Report/18883/safe-zone-signalling-device-market

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What can you expect from the report?
The Signaling Devices Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Signaling Devices Market Size by Product Categories & Application
2. Signaling Devices Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Signaling Devices Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Signaling Devices Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Signaling Devices Market Strategic Analysis
18. Signaling Devices Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Signaling Devices Market Revenue and Volume Analysis

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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.

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