The high emphasis on plant safety and security across industries such as mining, petrochemical, oil and gas, automotive and others, accompanied with rising concern for personnel safety globally, has paved the way for the increasing deployment of safe zone signaling devices at industrial facilities. These signaling devices aid prevention of hazards caused by flammable gases, combustible liquid–produced vapors, combustible dust or ignitable fibers, which act as an emergency management system. According to recent fire statistics compiled by the National Fire Protection Association (NFPA), an average of 37,000 fire hazards occur at industrial and manufacturing facilities in the U.S. every year, with annual losses estimated to be $1.2 billion in direct property damage, 16 civilian deaths and 273 civilian injuries. In order to avoid such hazards at workplaces and ensure safety for employees and the tangible assets within factory premises, companies are implementing emergency signaling devices. Thus, increasing awareness of hazards that can occur at the workplace and the requisite to ensure a safe and sound industrial environment is catapulting growth of the safe zone signaling device market.
The safe zone signaling market was valued at $1.7 billion in 2018, and is poised to propel at a CAGR of 3.98% during the forecast period 2019-2025.
Industry 4.0 Proving Lucrative for the Safe Zone Signaling Device Market—
The emergence of Industry 4.0 for real-time data monitoring and process control is propelling demand for smart signaling devices, owing to their efficient process control and enhanced performance. Safe zone signaling devices, integrated with smart technologies such as wireless connectivity, Internet of Things (IoT) and artificial intelligence, is likely to create growth avenues for the safe zone signaling market. Technological advancements in the market coupled with the growing popularity for miniaturization of electronic devices has led to the development of several novel signaling devices such as mini buzzers, wireless beacons, smart fire alarms, and many others. Thus, the technological development of signaling devices is the key growth driver for the safe zone signaling market.
Safe Zone Signaling Device Market Leveraging Oil and Gas Industry—
Safe zone signaling devices are predominantly used in the oil and gas industry. This industry is highly prone to hazardous risks due to the presence of flammable gases and a highly explosive atmosphere. Therefore, adoption of emergency management systems is paramount; and includes sirens, call points, fire alarms, buzzers, stack lights in the oil and gas industry. Hence, the perpetually growing oil and gas industry is considered to be the prime impetus for growth of the safe zone signaling device market. According to the International Energy Agency (IEA), 2018 saw oil production in the U.S., which is the world’s largest producer, increase by 15.6% over 2017. Growth of the oil and gas industries globally is one of the major driving factors for increasing demand of safe zone signaling devices.
Europe Providing Growth Prospects for the Safe Zone Signaling Device Market—
Geographically, Europe is considered to be the most lucrative safe zone signaling device marketplace with a maximum revenue share of 34.81% in 2018. The growth of the market in this region is mainly attributed to the presence of highly industrialized economies such as Germany, the U.K., France, Italy, and Belgium. Moreover, government initiatives that facilitate the growth of industries in this area is also significantly contributing to market growth. For instance, the biggest E.U. research and innovation programme, Horizon 2020, with nearly €80 billion in funding, is aimed at enhancing the manufacturing sector in the areas of advanced computing, sensor technologies and robotics. The high level of industrialization represents the presence of a large number of factories and warehouses with a dire need for emergency management systems. As far as safety and security management systems are concerned, signaling devices play a crucial role. Thus, the booming industrial sector is considered to be the main factor propelling growth of the signaling market in this region. Moreover, there are a large number of committees present in this region that contribute to developing, implementing and monitoring legislation on health and safety at work. These include the Advisory Committee on Safety and Health at Work (ACSH), the Senior Labour Inspectors Committee (SLIC), the Committee for Risk Assessment (RAC) of the European Chemicals Agency (ECHA), and the Scientific Committee on Occupational Exposure Limits (SCOEL). The strict safety rules and regulations regarding industrial work safety has propelled the implementation of safe zone signaling devices, and these factors have rendered Europe with the maximum market share.
Water and Wastewater Industry Emerging as the Key Application Segment—
In terms of end-user industries, the water and wastewater industry is considered to be the key segment that is anticipated to propel at a high rate during the forecast period. Waste Water Treatment Plant (WWTP) workers are exposed to many health issues during treatment processes. The chemicals that may be spilled or dumped into the waste systems from industries have a high potential for numerous toxic or explosive gases. Toxic gases such as hydrogen sulphide and methane are present in areas where influent lines, settling and clarification tanks exist in high concentrations. Elimination of hazards from these gases is virtually impossible, so workers and operators must rely on safe zone signaling devices to protect themselves. Thus, the key application segment is projected to grow at a CAGR of 6.18% through to 2025.
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Safe Zone Signaling Device Market Company Strategies—
Major companies that are striving to build their brand in the global safe zone signaling device market are R Stahl Group, Siemens AG, Honeywell International Inc., Rockwell Automation, Inc., Emerson Electric Co., E2S Warning Signals (European Safety Systems Ltd.), Eaton Corporation Inc., ABB Group, Federal Signal Corp., Comtrol Inc., Edwards Signalling (United Technologies Corp), Werma Signaltechnik GmbH+Co. KG, Pfannenberg GmbH, and PT Mastratech Indonesia. These companies are continuously utilizing strategies such as mergers, collaborations, acquisitions, partnerships and product innovations to stay ahead of their competitors.
In 2019, E2S Warning Signals launched a new series of explosion-proof warning signals under the series named D1xB2 beacons. These products are in compliance with SIL1 and SIL2 standards, and approved by UL/cUL and ULC. These beacons are suitable for use in Class I/II Division 1, Zone 1 and Zone 21 explosion-proof environments and can be utilized as emergency signaling devices for the hearing impaired also.
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