Signalling Device Market Top Companies to Watch Out: R.Stahl, ABB, Bright Engineering, Federal Signal, PR Electronics, Honeywell International Inc., e2s warning signals, Hollysys Automation Technologies Ltd

Signalling device generates an alarm to warn or alert something or somebody. Alarms raised by signalling devices can be either audio- or visual-based depending on the requirements, applications or surroundings of the place of installation. Signalling devices are usually connected to a control panel that triggers the signal when the need arises. Some of the signalling devices include hooters and strobe lights.

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Growth of the Oil and Gas Industry is a Factor Fuelling Growth of the Signalling Device Market

The basic purpose of using signalling devices is to warn, alert, indicate, or provide information about a dangerous or hazardous situation. For instance, fire alarms are set up to warn people in the vicinity about a fire and alert them to proceed for evacuation. In most of the cases, the motive of installing a signalling device is to provide safety. Signalling devices are essential in various sectors, such as industrial and public areas, especially in petro-chemical and oil & gas sectors as the potential for serious accidents are far higher at oil & gas plants in comparison to other industrial environments.
Signalling devices are a prime requirement at oil & gas stations to warn and control emergency situations. From safety point of view, signalling devices are essential in this industry for it could warn and control an emergency situation. Hence, growth in oil & gas industry will considerably drive growth of the market for signalling devices. Signalling devices used at oil & gas plants include beacons, status lights, alarm sounders, disaster sirens, and temporary alarms.

Signalling Device Market: Regional Insight

North America was one of the dominant markets for signalling devices in 2016, owing to high number of oil & gas plants in the region. For instance, according to 2017 statistics by the U.S. Energy Information Administration (EIA), the production of oil in the U.S. was 14.46 million barrels per day, and that of Canada was 4.87 million barrels per day, accounting to 15% and 5% of the world’s share, respectively. Growth of the oil & gas industry is one of the major driving factors for demand of signalling devices in the region.

Asia Pacific is expected to be the fastest growing market for signalling devices in the forecast period, as this region is also witnessing significant growth in the oil & gas sector. This region includes some emerging economies such as China, India, and Japan, which are the major growth engines for signalling devices in Asia Pacific region. For instance, according to U.S. Energy Information Administration (EIA), in 2017, China was the seventh largest economy in production of oil with 4.45 million barrels per day, accounting to 5% of the total production in the world.

Signalling Device Market: Competitive Landscape

Some of the key players operating in the signalling device market are R.Stahl, ABB, Bright Engineering, Federal Signal, PR Electronics, Honeywell International Inc., e2s warning signals, Hollysys Automation Technologies Ltd., Thales Group, NHP Electrical Engineering Products, Cooper Industries, Koito Manufacturing Co., L3 Communications Holdings, Inc., Auer Signalgerate, and Koninklijke Philips Electronics N.V.

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Signalling Device Market: Taxonomy

By Product Type:

• Audible Signalling Devices
• Visual Signalling Devices
• Audible & Visual Signalling Devices

By Application:

• Oil & Gas
• Chemical & Pharmaceutical
• Food & Beverages
• Energy & Power
• Warehouse & Factories
• Marine
• Mining
• Others

By Geography:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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This release was published on openPR.