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Global Safety Light Curtains Market to Reach $1.2 Billion by 2026
SAN FRANCISCO, June 9, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Safety Light Curtains - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: January 2021
Executive Engagements: 4757
Companies: 63 - Players covered include Banner Engineering; Carlo Gavazzi Holding; Datalogic S.p.A.; K.A. Schmersal Holding; Keyence Corporation; Leuze Electronic; Omron Corporation; Panasonic Corporation; Pinnacle Systems; Pilz GmbH & Co. KG; Pepperl+Fuchs; ReeR; Rockwell Automation, Inc.; Schneider Electric; SICK AG and Others.
Coverage: All major geographies and key segments
Segments: Safety Level (Type 2, Type 4); End-Use (Automotive, Semiconductor & Electronics, Food & Beverages, Healthcare, Other End-Uses)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Rest of World.
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ABSTRACT-
Global Safety Light Curtains Market to Reach $1.2 Billion by 2026
Safety light curtains are highly critical security systems that are deployed mainly in production centers. The efficiency, cost effectiveness and small footprint (physical) is contributing to the increasing adoption of safety light curtains in areas such as packaging, healthcare, food and beverage, and manufacturing, among others. Further, the growing pressure on production units worldwide to make better their safety measures, on account of the surging number of accidents in such facilities, is propelling the use of safety light curtains. The growing trend towards automation and Industry 4.0, increasing penetration of robots in packaging industry, and strict safety standards in variousindustries are also driving market growth. Further, the implementation of government regulations such as OSHA related to worker protection is fueling demand for these curtains. In response to the expanding automotive sector, leading vendors are creating systems with PLC (programmable logic controller) to work as a safety device. Demand for these systems is also expected to rise in the packaging sector, especially in end-of-line packaging, as these machines function automatically and have the likelihood of unauthorized access.
Amid the COVID-19 crisis, the global market for Safety Light Curtains estimated at US$959.2 Million in the year 2020, is projected to reach a revised size of US$1.2 Billion by 2026, growing at a CAGR of 4.6% over the analysis period. Type 2, one of the segments analyzed in the report, is projected to grow at a 3.6% CAGR to reach US$365.4 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Type 4 segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 70.2% share of the global Safety Light Curtains market. Type 2 safety light curtains are used where the extent of risk is lower. These curtains are extensively used in equipment protection, small-size packaging machines, pick-and-place machines, automated production equipment, robotic work cells, and in small assembly systems, among others. Type 2 safety light curtains are anticipated to register strong demand owing to their relatively lower cost. Type 4 curtains are required when the risk is greater, and they need to comply with higher safety standards. Type 4 safety light curtains can perform instantaneous failure detection with reduced response time due to their automatic cross-checking design. Owing to the greater protection offered and their surging use in key industries such as food and beverages and manufacturing, Type 4 systems are expected to register robust growth.
The U.S. Market is Estimated at $254.8 Million in 2021, While China is Forecast to Reach $171.8 Million by 2026
The Safety Light Curtains market in the U.S. is estimated at US$254.8 Million in the year 2021. The country currently accounts for a 26.02% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$171.8 Million in the year 2026 trailing a CAGR of 6.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 3.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.3% CAGR while Rest of European market (as defined in the study) will reach US$183.6 Million by the end of the analysis period. Growth in North America and Europe region is being supported by the presence of several leading industry players in the regions and the various initiatives taken by them to expand market presence. Growth in Asia-Pacific region is being driven by expanding industrial sector, growing demand for vehicles, and rising adoption of electronics products. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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