San Francisco, November 16, 2021/PRNewswire/ - A new market research published by the Global Industry Analyst Corporation (GIA) is a major market research company and today released the title "Buttons and Signal Devices-Global Market trajectory and analysis". The report presents a new perspective on the opportunities and challenges of major changes in the market after COVID-19.

Fact Overview Version: 7; Release Date: November 2021 Executive Talent Pool: 8,198 Companies: 286-Participants covered include ABB Group; American Distributor LLC; BACO Controls, Inc.; Eaton Corporation; EUCHNER (India) Pvt. Limited; Honeywell International; Johnson Electric Group; Omron; Patlet Corporation; Rockwell Automation; Schneider Electric; Siemens Industries and other companies. Coverage: All major regions and key market segments Segmentation: Type (signaling equipment, buttons); end use (automotive, energy and power, manufacturing, food and beverage, other end use) Geography: World; United States; Canada; Japan ; China; Europe (France; Germany; Italy; the United Kingdom; and the rest of Europe); Asia Pacific; the rest of the world.

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By 2026, the global market for pushbuttons and signaling devices will reach $2.4 billion in pushbutton switches for opening and closing control circuits. A switch is a control tool widely used in automatic electrical control circuits to manually transmit control signals to control contactors, electromagnetic starters and relays. Although industrial safety regulations have promoted market growth and progress over the years, the healthy development trajectory of various end-use verticals and the wider availability of complex signal equipment have greatly promoted market expansion. Entities such as the Occupational Safety and Health Administration (OSHA) and the National Fire Protection Association (NFPA) have long established and implemented industrial safety rules and regulations, while mandating or recommending the use of safety technologies in hazardous and non-hazardous industries. website. Regulatory thrust has led to the widespread deployment of AV signal equipment, which generates signals when dangerous events occur in the workplace to help people evacuate from dangerous areas. Utility companies are facing pressure to adopt energy-efficient and sustainable technologies. The favorable conditions of public utilities in the post-pandemic period will bring opportunities for worker safety technology including buttons and signaling devices. The post-pandemic outlook for buttons and signaling devices is quite encouraging, as the recovery of factory/production activities will lead to simultaneous attention to the safety and health of workers.

During the COVID-19 crisis, the global market for buttons and signaling devices in 2020 is estimated to be 1.9 billion U.S. dollars, and is expected to reach a revised 2.4 billion U.S. dollars by 2026, a period of growth at a CAGR of 4.3% in the analysis. Signaling equipment is one of the market segments analyzed in the report and is expected to grow at a compound annual growth rate of 4.8% by the end of the analysis period, reaching 1.8 billion US dollars. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the button business was re-adjusted to a revised compound annual growth rate of 3.3% in the next 7 years. This segment currently accounts for 30.2% of the global button and signaling equipment market.

The US market in 2021 is estimated at 496.4 million US dollars, while China is expected to reach 284.3 million US dollars by 2026. The US button and signaling equipment market is estimated at 496.4 million US dollars in 2021. The country currently accounts for 26.03% of the global market share. China is the second largest economy in the world, and the market size is expected to reach 284.3 million U.S. dollars by 2026, with a compound annual growth rate of 5.6% during the entire analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 3.9% and 4.2%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 3.9%, while other European markets (as defined in the study) will reach $303.1 million by the end of the analysis period. The huge oil and gas industry, rapid industrial growth, and increasingly loose strategies and policies adopted by Western companies are creating a healthy demand for AV signal equipment in these emerging economies. The increased distribution of safety equipment in oil fields, refineries, chemical plants, and food processing units has greatly promoted the wider adoption of AV signal equipment in developing regions. more

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