DUBLIN--(BUSINESS WIRE)--The "Safety Light Curtain Market - Growth, Trends, Forecasts (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The safety light curtain market is expected to register a CAGR of 5% over the forecast period 2020-2025. Rise in industrial automation is one of the primary growth factors for this market that is increasing the adoption of automation in facilities to perform repetitive tasks and allows better allocation of resources, resulting in improved quality of manufactured products.
Key Market Trends
Automotive Sector to Hold a Significant Market Share
- The automotive sector will experience significant growth in the forecast period due to growing construction of a smart factory that relies on smart manufacturing by employing technology such as artificial intelligence (AI), robotics, analytics, big data and the internet of things (IoT) and can run largely autonomously with the ability to self-correct. A smart factory is an important outcome of Industry 4.0.
- According to Capgemini's Smart factories 2019 report, most organizations are progressing their smart factory initiatives and one-third of factories have already been transformed into smart facilities. They also plan to make 40% more smart factories in the next five years and increase their annual investments by 1.7 times compared to the last three years. This will open up new opportunities for the safety light curtains in the future.
- As the automotive factories' floor is always busy and bustling with robots and equipment there is a huge risk on the health and safety of workers. Thousands of pounds of metal hanging above workers, sharp tools in use, and repetitive motions a mainstay technique, clearly demands proper systems to prevent some of the more foreseeable incidents. The most common reported injuries in automotive factories were sprains (39% of the total), lacerations (22%), and contusions (15%).
Asia-Pacific Will Experience Significant Growth
- Surging mortality rate due to occupational hazards in developing countries of Asia Pacific region and reinforcement of industry 4.0 due to technological advancements are the primary factors that will boost the demand for safety light curtains devices.
- According to the International Labour Organization (ILO), more than 1.1 people die from occupational accidents or work-related diseases in the Asia Pacific every year. This is due to the poor attention paid to the safety measures of the workforce by the manufacturing companies. Governments, worker, employers are now increasing their efforts to prevent accidents and diseases in the workplace. The ILO is also trying to strengthen national occupational safety and health (OSH) systems through labour inspections, occupational injury reporting, training and information, and national OSH campaigns which have created the awareness as well as forced manufacturing companies to implement safety instruments in the vicinity and provide efficient training to employees beforehand.
- The packaging industry which runs on huge machines is blossoming in Asian countries due to growing population and income levels. According to the Indian Institute of Packaging, packaging industry in India is anticipated to reach USD 73.6 billion by 2020 and it is predicted to grow at the rate 18% annually with flexible packaging at 25% and rigid packaging at 15%. It is expected to drive the growth of the market in the future.
- The COVID-19 pandemic has affected most to the manufacturing industry due to the lockdown of almost all the facilities across the globe. Asian countries are more stringent regarding temporary closing down their borders that will hamper the growth of the market. Prices of the safety light curtains are expected to rise due to disruption in raw material supply chain as most of the Asian countries have shut down their borders to prevent the spread of COVID-19.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rapid Adoption of Automatic Machines in Automotive Sector
4.2.2 Rising Mortality Rate Due to Occupational Hazards
4.3 Market Restraints
4.3.1 High Maintenance Requirements and Inability to Provide Secondary Protection
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 Safety Level
5.1.1 Type 2
5.1.2 Type 4
5.2.1 Photoelectric Cells
5.2.2 Light Emitted Diodes (LEDs)
5.2.3 Control Units
5.2.4 Display Units
5.3.2 Material Handling
5.4 End User
5.4.1 Food and Beverages
5.4.3 Semiconductor and Electronics
5.4.4 Aerospace and Defense
5.5.1 North America
5.5.4 Latin America
5.5.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Rockwell Automation, Inc
6.1.2 Keyence Corporation
6.1.3 Sick AG
6.1.4 Banner Engineering Corporation
6.1.5 Omron Corporation
6.1.6 IFM efector, Inc
6.1.7 Leuze electronic GmbH + Co. KG,
6.1.8 HTM Sensors
6.1.9 Wenglor Sensoric GmbH
6.1.10 Panasonic Electric Works Co., Ltd
6.1.11 Pepperl+Fuchs International
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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