DUBLIN--(BUSINESS WIRE)--The "Safety Light Curtains - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
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.
Select Competitors (Total 63 Featured) -
- 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
- Rockwell Automation, Inc.
- Schneider Electric
- SICK AG
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 Pandemic and Looming Global Recession
- Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
- Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
- World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- Industrial Activity to Remain Subdued in the Immediate Term, Inducing Weakness into the Market
- Global PMI Index Points for the Years 2018, 2019 & 2020
- Business Confidence Index (BCI) Points for 3Q 2019, 4Q 2019, 1Q 2020, & 2Q 2020
- An Introduction to Safety Light Curtains
- History of Light Curtain for Safety
- Specifications of Safety Light Curtain
- Functions of Light Curtains
- Type 2 & Type 4 Safety Light Curtains
- Global Market Prospects & Outlook
- Advanced Features of Type 4 Safety Light Curtains Boost Adoption
- Type 2 Safety Light Curtains: Widespread Deployment in Low Risk Areas
- Automotive Sector Emerges As the Largest End-Use Category
- Developing Economies Poised to Drive Long-term Growth
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- High Risk of Mortality and Injuries from Occupational Hazards Drives Importance of Safety Light Curtains
- High Levels of Workplace Related Accidents Bring Renewed Emphasis on Safety Light Curtains: Breakdown of Annual Work Related Fatalities (In Thousands) Worldwide by Region
- Total Cost of Workplace Injuries in the US: Breakdown of Expenditure (in %) for 2018
- Safety Hazards Driving Adoption of Safety Light Curtains in Manufacturing Industries
- Workplace Safety Index: Cost to Businesses (in US$ Billion) by Disabling Workplace Injuries
- Sustained Emphasis on Industrial Automation Augurs Well for Long-Term Growth of Safety Light Curtains Market
- COVID-19 Mandates Additional Automation Changes to Plant Floor & Factory Operations
- Shift Towards Industry 4.0 and Industrial Automation Enhances Importance of Safety Light Curtains
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020E
- IoT Sensors Step In to Further Automate Industrial Environments & Augment Workplace Safety
- Rising Use of Robots in Industrial Facilities and the Imperative Need to Ensure Safety of Work Environments Drives Market Growth
- Global Industrial Robots Market Size (in US$ Billion) for the Years 2019, 2021, 2023 & 2025
- Combination of Smart Safety Automation and Software for Reduced Injuries Risk for Humans on Robotic Manufacturing Floors
- Human Robot Collaboration: Significance of Risk Assessment of Robotic Systems
- Packaging Industry: Growing Use of Automation and Robotics Fuels Market Prospects
- Increasing Automation in Packaging Industry to Drive Adoption of Safety Light Curtains: Global Packaging Automation Market Size (in US$ Billion) for the Years 2019, 2022 & 2025
- Post COVID-19 Recovery in Auto Industry & Growing Use of Automated Machinery in Production Operations to Propel Market
- World Automobile Production in Million Units: 2008-2022
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/z7ztz9