Northbrook, IL 60062 -- (SBWIRE) -- 07/28/2022 -- 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. The rise of digital platforms in manufacturing industries is the major drivers for the safety light curtain market. Increased used of robots in packaging industry; and stringent workplace safety regulations further drives the safety light curtain market.
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The spur in global industrialization and continuous operation of process industries have led to an increase in the risk of industrial accidents across the world. According to various government associations' statistical databases, annual industrial accidents have risen rapidly in the last decade. These incidences have prompted the need for stringent safety regulations in industries, which include the use of safety light curtains. Safety light curtains are used to minimize the risk of potential hazards to operators and personnel working in the vicinity of processing machines. Besides safeguarding workers and machines, one of the primary objectives of safety light curtains is to ensure efficiency in productivity.
The standards of industrial safety and security vary across the world. For instance, the safety standards practiced in the US include the American National Standards Institute (ANSI), the National Fire Protection Association (NFPA), the Robotics Industries Association (RIA), and the US Occupational Safety & Health Administration (OSHA). Guidelines regarding the minimum requirements by employers to ensure safe working conditions are specifically provided by the Occupational Safety and Health Act (OSHA), and the compliance is checked by regional OSHA inspectors. Companies must follow such mandates in different countries; not doing so can result in heavy fines or lawsuits. Such stringent regulations are expected to change the business landscape by driving the growth of the safety light curtain market.
The safety light curtain market for type 4 segment is expected to at the higher CAGR during the forecast period. Technological advancements in type 4 safety light curtains in terms of their ability to continuously monitor processes in industries and provide the required results, along with the prevalence of Industry 4.0 and digital manufacturing, are driving the demand for type 4 safety light curtains. Rapid industrialization in developing countries such as China, India, and Mexico further fuel the growth of the market for type 4 safety light curtains.
The safety light curtain market for control units segment is expected to grow at the highest CAGR throughout the forecast period. A control unit controls the working of a safety light curtain; technological advancements in this component ensure more applications and better operating connectivity with other safety devices. A control unit ensures the least response time during the event of light penetration and carries out a regular check of the operating fitness of type 4 safety light curtains.
The safety light curtain market for healthcare industry is expected to grow at highest CAGR during the forecast period. Growth in the healthcare industry in Asia Pacific is supporting the growth of the safety light curtain market. The comparatively cheap labor available in Asia Pacific, compared to Europe or North America, is one of the major drivers for healthcare as well as pharmaceutical companies investing in this region to set up production plants. In addition, the presence of big healthcare companies such as Novartis (Switzerland), Fresenius Medical Care (Germany), Siemens Healthineers (Germany), B. Braun (Germany), and Smith & Nephew (UK) in the European region further propels the adoption of safety light curtains. These factors are contributing to the growth of the safety light curtain market for the healthcare industry.
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Safety light curtain market for Asia Pacific region is expected to grow at the highest CAGR during the forecast period. The major factor driving the growth of the safety light curtain market in Asia Pacific is the rapid adoption of automation in the region. The market in the region is expected to be driven by the growing demand for safety light curtains in China, Japan, South Korea, and India in the automotive, semiconductor & electronics, food & beverages, and other industries. All these factors contribute to the growth of the market in Asia Pacific thus making it a lucrative market for the safety light curtain OEMs.