Signalling device generates an alarm to warn or alert something or somebody. Alarms raised by signalling devices can be either audio- or visual-based depending on the requirements, applications or surroundings of the place of installation. Signalling devices are usually connected to a control panel that triggers the signal when the need arises. Some of the signalling devices include hooters and strobe lights. Generally, signalling devices are used in combination (siren and strobe) as they produce an alarming sound along with a visual flash/signal.
Growth of the Oil and Gas Industry is a Factor Fuelling Growth of the Signalling Device Market
The basic purpose of using signalling devices is to warn, alert, indicate, or provide information about a dangerous or hazardous situation. For instance, fire alarms are set up to warn people in the vicinity about a fire and alert them to proceed for evacuation. In most of the cases, the motive of installing a signalling device is to provide safety.
Signalling devices are essential in various sectors, such as industrial and public areas, especially in petro-chemical and oil & gas sectors as the potential for serious accidents are far higher at oil & gas plants in comparison to other industrial environments. Moreover, the sites of oil & gas plants are classified as hazardous regions as the environmental conditions are prone to explosions and toxic gas leakages. Hazardous regions are places with high concentration of flammable gases, vapours, or dust, occurring either constantly (Zones 0 and 20), under normal operating conditions (Zones 1 and 21), or unusually high (Zones 2 and 22). Products designed for hazardous locations have to meet the ever changing standards and regulations. For instance, UL 913 issued in 1971, is a US standard which classifies intrinsically safe apparatus for use in hazardous locations. The purpose of this standard is to specify limiting sources of electrical spark energy, high surface temperature, and separating distances between inflammable substances or equipment.
Signalling devices are a prime requirement at oil & gas stations to warn and control emergency situations. From safety point of view, signalling devices are essential in this industry for it could warn and control an emergency situation. Hence, growth in oil & gas industry will considerably drive growth of the market for signalling devices. Signalling devices used at oil & gas plants include beacons, status lights, alarm sounders, disaster sirens, and temporary alarms.
Signalling Device Market: Regional Insight
North America was one of the dominant markets for signalling devices in 2016, owing to high number of oil & gas plants in the region. For instance, according to 2017 statistics by the U.S. Energy Information Administration (EIA), the production of oil in the U.S. was 14.46 million barrels per day, and that of Canada was 4.87 million barrels per day, accounting to 15% and 5% of the world’s share, respectively. Growth of the oil & gas industry is one of the major driving factors for demand of signalling devices in the region.
Asia Pacific is expected to be the fastest growing market for signalling devices in the forecast period, as this region is also witnessing significant growth in the oil & gas sector. This region includes some emerging economies such as China, India, and Japan, which are the major growth engines for signalling devices in Asia Pacific region. For instance, according to U.S. Energy Information Administration (EIA), in 2017, China was the seventh largest economy in production of oil with 4.45 million barrels per day, accounting to 5% of the total production in the world.
Moreover, Asia Pacific showed significant growth in mining industry, which is another major application area for signalling devices. For instance, according to India Brand Equity Foundation (IBEF), in 2016, India was the third largest producer of coal with 539 million tonnes and had five largest estimated coal reserves in the world. According to the same source, in 2016, India stood fourth in iron ore production with 8% of the world’s deposit and was the third largest steel producer with 90.63 million tonnes of production of finished steel, in the world. Signalling devices are widely used in these sectors as part of safety measures, owing to high chances of risks associated with working in such industries. Thus, growth of oil & gas and mining sectors in Asia Pacific region will subsequently drive growth of the signalling devices market.
Signalling Device Market: Competitive Landscape
Some of the key players operating in the signalling device market are R.Stahl, ABB, Bright Engineering, Federal Signal, PR Electronics, Honeywell International Inc., e2s warning signals, Hollysys Automation Technologies Ltd., Thales Group, NHP Electrical Engineering Products, Cooper Industries, Koito Manufacturing Co., L3 Communications Holdings, Inc., Auer Signalgerate, and Koninklijke Philips Electronics N.V.
Signalling Device Market: Taxonomy
By Product Type: