Global Push Buttons and Signaling Devices Market 2017-2021
About Push Buttons and Signaling Devices
Push buttons are controls that regulate some feature of a process or equipment installed in industries. The shape of a push button is designed to accommodate human finger or hand and are basically made of hard material such as plastic or metal. Signaling devices mostly raise an alarm to indicate a warning. The alarm can be either visual or audio depending on the requirement, application, and surroundings.
Technavio’s analysts forecast the global push buttons and signaling devices market to grow at a CAGR of 4.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global push buttons and signaling devices market for 2017-2021. To calculate the market size, the report considers new installations, sales value, and replacement market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Push Buttons and Signaling Devices Market 2017-2021
Technavio recognizes the following companies as the key players in the global push buttons and signaling devices market: ABB, Eaton, GE, Rockwell Automation, and Schneider Electric.
Other Prominent Vendors in the market are: EUCHNER, Honeywell, Johnson Electric, American Distributors (ADI), AT Components (Assembly Technology Components), BACO Controls, PATLITE, and OMRON.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is need for stainless steel push buttons. Thermosetting plastics that were used to make push buttons are now being replaced by stainless steel. The use of stainless steel provides push buttons the capacity to withstand high temperature and corrosion as well.”
According to the report, one driver in the market is easy setup and low maintenance cost. Push buttons are easy to install on a panel. New models of push buttons allow one-handed installation without using any special tools. Components can be installed in a slanted position to fit the work panel. Push buttons come with simple round milled holes without a groove, hence do not involve ring nut fastening. Actuators, holders, and contact buttons can be individually ordered and then assembled.
Further, the report states that one challenge in the market is presence of low-cost safety device manufacturers. The presence of organized and unorganized regional manufacturers of industrial safety devices poses a challenge to the global push button and signaling devices market. The sales of push buttons and signaling devices mostly happens through distributors. The margin charged on the maximum retail price is the profit that a distributor gets on the products. The presence of regional players reduces the profit margin of distributors.
ABB, Eaton, GE, Rockwell Automation, and Schneider Electric. EUCHNER, Honeywell, Johnson Electric, American Distributors (ADI), AT Components (Assembly Technology Components), BACO Controls, PATLITE, and OMRON.