Global Safety Signs Market 2017-2021
About Safety Signs
A safety sign is an information or instruction pertaining to safety and health in workplace or commercial space. It is conveyed by means of a signboard, a distinguishable color, an illuminated or an acoustic signage, a verbal communication, or a hand sign. Safety signs are installed in adherence to the OSHA and ANSI standards. The OSHA Specifications for Accident Prevention Signs (1910.145) states the requirement for using safety signs that prevent accidental injuries to workers and property.
Technavio’s analysts forecast the global safety signs market to grow at a CAGR of 3.17% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global safety signs market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Safety Signs Market 2017-2021
Technavio recognizes the following companies as the key players in the global safety signs market: Accuform Manufacturing, Brady, Northern Safety, and ZING Green Safety Products.
Other Prominent Vendors in the market are: American Permalight, Banner Stakes, Big Beam Emergency Systems, ComplianceSigns, Ecoglo International, EverGlow, Glowway, INCOM, Jalite, Jessup Manufacturing Company, National Marker Company, Rubbermaid Commercial Products, Smart Art Signs, and U.S. SafetySign & Decal.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is product development. Safety signs are witnessing product development in the form of material used as well as source of power. For instance, solar safety signs were introduced in which the boards are sourced by a PV panel that ignites safety signs, making them visible. Furthermore, batteries are used to store solar energy in daytime that can be later used in night-time to power safety signs.”
According to the report, one driver in the market is growing PPE market. The global PPE market is expected to witness an accelerated growth during the forecast period. The market amounted to $39.9 billion in 2016 and is expected to reach $57.87 billion by 2021. The growing PPE market will have a positive impact on the safety signs market. The PPE category covers a wide variety of equipment, including eye protection, hearing protection, respirators, and protective clothing. The growth of the PPE market is fueled by several factors such as technological advances and growth of various end-user industries including construction, oil and gas, and manufacturing.
Further, the report states that one challenge in the market is fluctuating prices of raw materials. Safety sign boards and placards are made up of various materials and dimensions, depending on the requirement of end-users. The materials used are among the primary raw materials used in the safety signs market. The various materials that are used to create safety signs include plastic, polyvinyl chloride, vinyl, polypropylene, aluminum, metal, and fiberglass. The fluctuations in the raw material prices will have a negative impact on the safety signs market. The volatility in raw material prices poses a major challenge for vendors to chalk out various strategies based on pricing that are imperative to incur profitability.
Accuform Manufacturing, Brady, Northern Safety, ZING Green Safety Products, American Permalight, Banner Stakes, Big Beam Emergency Systems, ComplianceSigns, Ecoglo International, EverGlow, Glowway, INCOM, Jalite, Jessup Manufacturing Company, National Marker Company, Rubbermaid Commercial Products, Smart Art Signs, and U.S. SafetySign & Decal.