Global Push Buttons and Signaling Devices Market - Segmented by Products (Round or Square Body Type, Non Lighted Push Button, Lighted Push Button, Plateau Head), Types (Horns, Loudspeakers, Beacons, Strobes, Tower Stack Lights, Panel Light Bars), End-user (Automotive, Energy and Power, Manufacturing, Pharmaceutical), and Region - Growth, Trends, and Forecast (2018 - 2023)
The push buttons & signaling devices market expected to register a CAGR of 4.13%, during the forecast period (2018 - 2023). Push buttons are widely used in industries owing to the comfort and safety offered by them in several applications. Easy installation and availability of new models of push buttons that enable one-handed installation without using any special tools, are driving the adoption of push buttons among industries. Additionally, push buttons, which are made in compliance with SIRIUS Act, a flagship product of Siemens also have drag and drop options making the installation process much simpler and easier than before. Similarly, Signaling devices are placed in appropriate locations in industries to allow employees receive audio or visual messages. Push buttons and Signaling devices require very less maintenance and are designed to withstand explosions, fire, and corrosion.
The scope of the study is segmented by Round or Square Body Type, Non Lighted Push Button, Lighted Push Button, and Plateau Head products.
Growing Emphasis on Industrial Safety is the Major Driver for the Market
Rising awareness about the safety in industries, like manufacturing, oil & gas, construction, food & beverages, pharmaceuticals, and chemicals is demanding for advanced industrial safety devices, driving its global market. In an industrial environment, the safety of the equipment and workforce is always a major concern. Many stratagems, such as safety audits and other safety measures have slipped to decrease the loss in the industrial environment. Also, natural hazards, like earthquake and landslides, are no way controlled by humans but the safety of workers in such situation can be ensured. Companies that support activities related to oil & gas operations and plastic production have recorded high rate of severe injuries, which causes hospitalization or loss of a body part.
Push buttons and Signaling devices are used in order to reduce such incidents. Push buttons enable users to control the functioning of machines or equipment during an emergency. On the other side, Signaling devices are highly essential in any safety management system, starting from fire alarm to earthquake warning. Such devices alert employees about the inbound threat and prevent loss of life.
Automotive End-user Segment is the one of the Dominant Segments
Push buttons are used for implementing keyless access in vehicles. Push button ignition is widely being adopted by many automobile companies owing to the comfort and reliability provided. With the increasing number of road accidents and internal damages to the vehicles, automotive manufacturers are focusing on improving vehicular safety. Panel lights and horns are the highly used Signaling devices till date. Automotive manufacturers are coming up with additional features, like video surveillance and strobes.
Emergency lighting is being included with all the newly manufactured vehicles, hence pushing the market for Signaling devices around the world. Governments around the world are passing regulations to increase the driver safety in the vehicles. Auto manufacturers are hence focusing on innovative ways to provide protection to the vehicles. Automobiles with included push buttons for keyless usage are considered as premium vehicles. Hence, many automobile manufacturers are including them so as to gain traction among the customers.
North America is expected to Hold Major Market Share
North America is one of the prominent regions in Signaling devices market, which will contribute highest revenue globally due to growing automation in manufacturing plants and petrochemical units, which require monitoring systems in hazardous locations. In the United States, automotive companies like Toyota, Lexus, Ford, Nissan and BMW are releasing new automobiles with keyless driving facility. This has led to the increasing use of push buttons and Signaling devices in the automotive segment in this region. With bread and meat considered as highly consumed food in the North American countries, Signaling devices are widely used for storing the food at optimum temperatures. For instance, RTD sensors and temperature transmitter solution for dairy products.
Key Developments in the Market