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Market research analysts at Technavio predict that the global push buttons and signaling devices market will grow at a CAGR of around 5% by 2021. Benefits such as easy setup and low maintenance cost will be the major factors fueling the market’s growth prospects in the coming years. Push buttons are simple to install on a panel and the new models of push buttons enable one-handed installation without using any special tools. Push buttons come with round milled holes without a groove and do not involve ring nut fastening. Actuators, holders, and contact buttons can be individually ordered and then assembled. Moreover, push buttons that are manufactured in compliance with SIRIUS Act also have drag and drop options making the installation easier. Similarly, signaling devices are generally wall mounted and are placed in appropriate locations to allow employees receive audio or visual messages. Push buttons and signaling devices require very less maintenance and are designed to withstand explosions, fire, and corrosion.
In terms of geographic regions, APAC will be the major revenue contributor to the push buttons and signaling devices market throughout the forecast period. The growth of the market in APAC is attributed to the developing automotive, oil and gas, and power industries. The growth of the Chinese and Indian automotive industries will also drive the growth of the market in this region.
Owing to the presence of organized and unorganized players, the push buttons and signaling devices market appears to be fragmented. The emergence of local players in APAC, specifically in China, is expected to affect the total revenue generated by the key vendors in the market. Moreover, the local players charge lesser prices for their offerings, which makes the distributors cut down on the margin offered on the product offering of the top players.
The leading vendors in the market are -
The other prominent vendors in the market are EUCHNER, Honeywell, Johnson Electric, American Distributors (ADI), AT Components (Assembly Technology Components), BACO Controls, PATLITE, and OMRON.
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During 2016, the signaling devices segment accounted for the major shares of the push buttons and signaling devices market. Factors such as the increased usage of the signaling devices in the oil and gas, automotive, and food processing industries will contribute to the growth of this industry segment in the coming years. Additionally, government initiatives to undertake safety measures in industrial areas will also fuel the demand for signaling devices over the next four years.
According to this market research report, the automotive industry will be the largest end-user to the push buttons and signaling devices market by 2021. The rise in production of automobiles around the world will be a major driver for the growth of the market in this end-user segment. Countries such as China and India are the major markets for global automotive companies.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Market segmentation by end-user
PART 08: Geographical segmentation
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Appendix
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