Industrial Warning Lights Market: Introduction
Industrial warning lights are used in the industries with the purpose to keep the workers safe and aware with heavy machinery or industrial vehicles such as forklifts. Industrial warning lights come in various colors with each colors having different meaning, for instance, red lights are often used to warn workers of hazardous process performed at industrial facilities while the color green represents safety. Industrial warning lights comes with different shapes, colors, beam pattern and light intensity to produce an acceptable level of safety defined by international regulations and national standards. Industrial warning lights alerts people from the potential hazards. Among all industries construction segment is expected to key driver for the demand of industrial warning lights preventing accidents such as dangerous collisions and injuries.
Industrial Warning Lights Market: Dynamics
As the safety of a worker being the priority in the industries the demand for industrial warning lights is expected to grow along with the rapid industrial growth. The demand and subsequent use of industrial warning lights in construction industry, has also created a spike in growth of the global industrial warning lights market. Further, rapid growth of mining industry across the globe is also expected to fuel the demand of industrial warning lights over the coming years. One of the key trend observed in the industrial warning lights market is utilization solar powered industrial warning lights for outdoor application. Growth in oil & gas as well as power generation industry has also significantly driven the growth of the industrial warning lights market requiring robust warning signals for the employees’ safety in the workspace.
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Advancement in LED lighting technology has led to development of high quality lighting products available which has been ably incorporated in the industrial warning lights market. Moreover, reducing LED lights prices is set to provide opportunity for the manufacturers of industrial warning lights manufacturers to enhance profit margins and offer products to the customers at a compatible prices. Furthermore, market participants of industrial warning lights are directing efforts on research and development activities to gain competitive edge over competitors with respect to product promotion and preemptive marketing. Moreover, the industrial warning lights market is expected to be significantly driven by increasingly stringent government regulations to ensure safety on the construction sites and manufacturing plants.
Industrial Warning Lights Market: Segmentation
On the basis of light design, industrial warning lights can be segmented into:
- Rotating Lights
- Flashing Strobe Lights
- Blinking Lights
On the basis of products type, industrial Warning Lights can be segmented into:
- Incandescent bulbs
- Xenon tubes
On the basis of End Use, Industrial Warning Lights can be segmented into:
- Oil and Gas industry
- Mining Industry
- Construction Industry
- Automotive Industry
- Manufacturing Industry
- Power Plants
Industrial Warning Lights Market: Regional Overview
The Global Industrial Warning Lights Market is expected to grow with a significant pace over the forecast period. Asia Pacific is expected to hold significant share in the global industrial warning lights market and in expected to cater promising opportunity for the industrial warning lights market participants. Rapid urbanization and industrialization coupled with the increasing trend of shifting global manufacturing bases in developing economics such as India, China and ASEAN countries is expected to propel the demand for industrial warning lights market.
North America and Europe industrial warning lights are comparatively matured markets with well-developed warning response systems and guidelines. Stringent norms and guidelines are projected to propel the demand for the industrial warning lights market growth. Industrial warning lights market in Middle East and Africa is expected to grow with significant growth rate due to boom in oil and gas industry in the upcoming year. Positive economic outlook and favorable political scenario coupled with growing mining industry in Latin America is expected to witness robust opportunity for the industrial warning lights market participants during the forecast period.
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Industrial Warning Lights Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Industrial Warning Lights Market includes:
- North American Signal Company
- Federal Signal Corporation
- Tri-Lite Inc.
- PATLITE Corporation
- SWS Warning Lights Inc.
- ECCO Safety Group
- Wolo Manufacturing Corp.
- Tomar Electronics
- Mechtric Electrical & Mechanical Engineering Products