“The safety connection devices market is expected to register a CAGR of 7% during the forecast period of 2019-2024.”
– Different categories of personnel work on automated production equipment, ranging from production workers to engineers. This wide range and increasing automation are demanding for safety connection devices from various end-user industries.
– Factory automation ensures safe working environment for the workers. Hence, as the demand for automation in industries is increasing, safety connection devices will also witness an increase.
– On the other hand, the high cost of safety connection devices and lack of awareness about its developments in the industry is restraining the market growth.
Safety Connection Devices Market report contains a forecast of the next 5 years, starting 2019 and ending 2024 with a host of metrics like supply-demand ratio, Safety Connection Devices market frequency, dominant players of Safety Connection Devices market, driving factors, restraints, and challenges. The report also contains market revenue, sales, Safety Connection Devices production and manufacturing cost that could help you get a better view on the market. The Report Focuses on the key Singapore Safety Connection Devices manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
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Top Companies in the Singapore Safety Connection Devices Market: Rockwell Automation, Inc., ABB Ltd., Advantech Co., Ltd., Bihl + Wiedemann GmbH, Honeywell International Inc., Schneider Electric S.E., Lumberg Automation Components GmbH, Murrelektronik Inc., Weidmuller Interface GmbH & Co. KG, TE Connectivity Ltd., Ifm electronic gmbh, Banner Engineering Corp. And others.
Automotive Industry to Drive the Market Growth:
– The automotive industry is one of the fastest growing consumers of safety connection devices. With the growing demand for automobiles across the world, companies are pushing towards automated systems, to increase the productivity of the existing plants.
– Many automotive manufacturers are either establishing new manufacturing infrastructures across the world or moving the processes of automotive manufacturing from manual labor to robotic machinery. For instance, BMW is launching a new factory in Hungary by 2023 having a capacity of producing 150,000 vehicles per year.
– Thus, with the increase in the number of industrial robots & automation, there is a need for interfacing these systems with centralized controllers. In 2017, the automotive industry 126,000 new installations of industrial robots, which is the maximum across the industries.
– The automotive industry is thus deploying safety connection devices, so as to make controllers, and other devices communicate with each other.
Asia-Pacific to Execute the Fastest Growth:
– Asia-Pacific is estimated to be the fastest growing region for the safety connection device market. The industries are adopting automation, thus making the machines more complex; which ultimately demands more secure and reliable connection devices for the applications.
– The presence of a large number of domestic and international manufacturing companies in the emerging economies of Asia-Pacific, rapid industrialization, and expanding manufacturing activities are projected to drive the machine condition monitoring market in this region.
– India is the third largest economy in the world and the government initiatives like Make in India to make the country a manufacturing hub. It has a strong emphasis on transforming the domestic manufacturing sector and aims to pull up the GDP share to 25% from 16% by 2022.
– Moreover, the sales of new vehicles in China, which includes passenger vehicles, buses, and trucks, crossed 28 million units in 2018. Therefore, the automotive market in Asia-Pacific is driven strongly by production activities in countries such as China and India further demanding safety devices across industries.
Regional Analysis For Safety Connection Devices Market:
–North America (United States, Canada and Mexico)
-Asia-Pacific (China-Europe, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam)
-Europe (Germany, France, UK, Italy, Russia, Rest of Europe)
-Central & South America (Brazil, Rest of South America)
–Middle East & Africa (GCC Countries, Turkey, Egypt, South Africa, Other)
The report has 150 tables and figures browse the report description and TOC:
Some major points from Table of Content:
- Safety Connection Devices market Overview
- Safety Connection Devices market Economic Impact
- Competition by Manufacturer
- Production, Revenue (Value) by Region (2019-2025)
- Supply (Production), Consumption, Export, Import by Regions (2019-2025)
- Production, Revenue (Value), Price Trend by Type
- Safety Connection Devices market Analysis by Application
- Market by Manufacturing Cost Analysis
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders.
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