PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1108384
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1108384
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The safety light curtain market is expected to grow from USD 1.1 billion in 2022 to USD 1.4 billion by 2027, at a CAGR of 5.8% during the forecast period. Rise of digital platforms in manufacturing is driving the market for safety light curtain.The growing adoption of automated and digital technologies, the increasing penetration of robots in the packaging industry, and stringent safety standards that manufacturers must adhere to are all driving market growth. Furthermore, the inability of safety light curtain to protect from secondary hazards; and need for regular maintenanceare major restraints to the market.
"Asia Pacific to dominate the safety light curtain market for automotive industry from 2022 to 2027"
Asia Pacific is expected to dominate the safety light curtain market for the automotive industry during the forecast period. It is expected to grow at the highest CAGR from 2022 to 2027. The automotive industry plays a major role in the growth of developing economies such as India, China, and Brazil. According to the Organization Internationale des Constructeursd'Automobiles (OICA), the automotive market registered a growth of ~6% in Asia Pacific (in terms of sales of new vehicles). Further, according to OICA, from 2020 to 2021, the increase in registration or sales of new vehicles (of all types) in India was ~4% year-on-year and reached 26.3 million vehicle units. These numbers indicate that the automotive industry in India is on the rise, supporting the growth of the safety light curtain market for the automotive industry in the country.
"Robotics segment is expected to dominate the safety light curtain market throughout the forecast period"
The robotics application is expected to account for the largest size of the safety light curtain market throughout the forecast period. The safety light curtains with resolution ranging from 25mm to 90mm include hand and arm detection are generally deployed in robotics application; this specification is available for both type 2 and 4 safety light curtains. Besides, the stringent safety regulations associated with robot deployment at workplaces are fueling the demand for safety light curtains.The increasing deployment of robots in various industries, such as automotive, semiconductor & electronics, and food & beverage, is propelling the segment's growth.
"Safety light curtain market in Asia Pacific region to register highest CAGR between 2022 and 2027"
The safety light curtain market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Further, Asia Pacific is also expected to account for the largest share of safety light curtain market throughout the forecast period. Asia Pacific accounted for ~40% of the safety light curtain market in 2021. The region is a major provider as well user of safety light curtain technology and is expected to provide ample growth opportunities for the safety light curtain providers in the market. Asia Pacific has been a major contributor to the growth of the overall safety light curtain market as the region is emerging as an important hub for automobile manufacturing. In addition, the presence of major safety light curtain OEMs in the region such as OMRON (Japan), KEYENCE (Japan), and IDEC (Japan) further boosts the adoption of safety light curtains in Asia Pacific.
Breakdown of primaries
Key players in the safety light curtain market are OMRON (Japan), KEYENCE (Japan), SICK (Germany), Rockwell Automation (US), Pepperl+Funch (Germany), Panasonic (Japan), Schneider Electric (France), Datalogic (Italy), Banner Engineering (US), Balluff (Switzerland), Smartscan (UK), Leuze Electronic (Germany), ABB (Switzerland), EUCHNER (Germany), IDEC (Japan), Pilz(Germany), ifm electronic (Germany), WenglorSensoric (Germany), Schmersal (Germany), Rockford Systems (US), Contrinex (Switzerland), Orbital Systems (India), Pinnacle Systems (US), HTM Sensors (US), and ISB (Canada).
The report describes the detailed information regarding the major factors such as drivers, restraints, challenges, and opportunities influencing the growth of the safety light curtain market. It also includes value chain analysis and pricing analysis. This research report categorizes the safety light curtain market based on safety level type, component, resolution, application, industry, and region. A detailed analysis of the key industry players was carried out to provide insights into their business overviews; products/solutions offered; key strategies adopted that include new product launches, deals (acquisitions, andpartnerships), and others (expansions) insafety light curtain market.
Key Benefits of Buying the Report
1. This report segments the safety light curtain market comprehensively and provides the closest market size projection for all subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, product developments and launches, partnerships, and mergers & acquisitions.
4. The analysis of the top 25 companies, based on market share/rank as well as the product footprint will help stakeholders visualize the market positioning of these key players.
5. Value chain analysis, and pricing analysis that will shape the market in the coming years has also been covered in this report.