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Market Analysis: Security Light Curtain Market, Flow Transducer Market, Modular PLC Market forecasted for 2023-2030

Market Analysis: Security Light Curtain Market, Flow Transducer Market, Modular PLC Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 15, 2023/EINPresswire.com/ --

The Security Light Curtain Market is expected to grow from USD 1.10 Billion in 2022 to USD 1.70 Billion by 2030, at a CAGR of 5.50% during the forecast period.The Security Light Curtain market refers to a specialized industrial safety device that utilizes infrared or visible light beams to detect potential hazards and prevent accidents. The market caters primarily to manufacturing plants, warehouses, and other industrial facilities where heavy machinery and robotics are in use. The key drivers of the Security Light Curtain market's revenue growth are the increasing adoption of automated manufacturing processes and the need for stringent workplace safety regulations.In recent years, there has been a growing trend towards the integration of Security Light Curtains with other safety devices, such as safety laser scanners and safety relays. This has enabled manufacturers to offer comprehensive safety solutions that effectively safeguard machinery and personnel. Additionally, the development of wireless security light curtains has opened up new opportunities for industries, as they can now be used in areas where cabling is not possible or is impractical.

The three primary types of Security Light Curtains are:

• 9-24mm
• 24-90mm
• More Than 90mm

These ratings refer to the distance between the emitter and receiver of the Security Light Curtain and determine the protection area size.

Security light curtains are safety devices used to prevent injury to workers by creating a barrier of infrared beams. These curtains are widely used in various industries such as automotive, semiconductor & electronics, food & beverages, healthcare, and others. In the automotive industry, security light curtains are used in manufacturing plants to protect workers from hazardous machinery and equipment. In semiconductor & electronics industry, these curtains are employed to provide safety during the manufacture of microchips and semiconductor devices. Similarly, in the food & beverage industry, security light curtains are used to protect workers from sharp tools such as knives and saws.

The Asia-Pacific region is expected to dominate the Security Light Curtain market in terms of market share. The region is projected to hold a significant share of the Security Light Curtain market due to the growing demand for industrial automation, especially in the emerging economies of China and India. The report also states that the Americas and Europe are likely to follow the Asia-Pacific region in terms of market share in the coming years.As per the report, the Asia-Pacific region is expected to hold a market share of around 40% by 2025, followed by the Americas with a share of around 30% and Europe with a share of around 25%. The remaining market share is expected to be held by the Middle East & Africa region. This growth in market share can be attributed to the increasing adoption of robots in the manufacturing industry and the need for worker safety regulations.

The security light curtain market is highly competitive, with several players offering a variety of products and solutions globally. Some notable players in the market include Keyence, Omron, Rockwell, Sick, Pepperl + Fuchs, Banner Engineering, Panasonic, Schneider, Datalogic, Leuze Electronic, Wenglor Sensoric Elektronische Geräte, Pinnacle Systems, Contrinex, ABB, IDEC, Balluff, Pilz, KA Schmersal, Carlo Gavazzi, and IFM Electronic.

Some sales revenue figures of the above-listed companies include Keyence with a revenue of $5.15 billion in 2020, Omron with a revenue of $7.83 billion in 2020, Rockwell with a revenue of $6.7 billion in 2020, Sick with a revenue of $2.21 billion in 2020, and Pepperl+Fuchs with a revenue of $782 million in 2020.

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The Flow Transducer Market is expected to grow from USD 815.00 Million in 2022 to USD 1486.30 Million by 2030, at a CAGR of 7.80% during the forecast period.Flow transducers are important measuring instruments that are extensively used in various industries such as chemical processing, power generation, food, and beverages, pharmaceutical, and water treatment plants for measuring the flow rate of liquids and gases. The global flow transducer market is expected to witness significant growth due to various factors such as increasing demand from end-use industries, rising adoption of digitalization and automation, and government initiatives for high-quality process control. Technological advancements leading to enhanced accuracy, reliability, and cost-effectiveness of flow transducers are also driving the growth of the market.One of the latest trends in the flow transducer market is the increasing use of wireless flow transducers. Wireless flow transducers offer several benefits such as easy installation, reduced maintenance, and remote monitoring, which is driving their adoption in industries such as oil and gas and chemical processing. However, the high cost of wireless flow transducers is a major challenge that is hindering their widespread adoption.

The Asia-Pacific region is expected to dominate the Flow Transducer market in the forecast period. This dominance can be attributed to the increased manufacturing and industrial activities in countries such as China and India. The market share percent valuation of the Asia-Pacific region is expected to be around 40%. The North American and European regions are also expected to have a significant market share, with market share percent valuations of around 28% and 22%, respectively. The rest of the world region is expected to have a market share percent valuation of around 10%. However, these numbers may vary depending on various factors such as economic growth, government policies, and technological advancements.

The global flow transducer market is highly competitive and fragmented, with the presence of several multinational and regional players. Some of the notable players operating in the market include ABB, Honeywell International, NXP, Infineon, Analog Devices Inc, Delphi Automotive, Meggitt Sensing Systems, McMillan Company, Omega Engineering, Motorola Solutions, and Azbil (Yamatake).

In terms of sales revenue, Honeywell International reported revenue of $36.7 billion, while ABB reported revenue of $27.6 billion in 2020. Analog Devices Inc reported revenue of $5.8 billion, and Infineon reported revenue of €8.6 billion ($10.4 billion) in the same year.

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The Modular PLC Market is expected to grow from USD 359.00 Million in 2022 to USD 491.32 Million by 2030, at a CAGR of 4.00% during the forecast period.Modular PLCs (Programmable Logic Controllers) are electronic devices used to control and automate industrial processes. They are designed to be modular in nature, allowing users to expand and customize their capabilities as needed. The target market for Modular PLCs includes industries such as manufacturing, oil and gas, chemical processing, and water treatment facilities.The major factors driving revenue growth of the Modular PLC market include the increasing demand for automation in manufacturing processes, the need for improved productivity and efficiency, and the growing trend towards Industry 4.0. As businesses strive to optimize their operations and reduce costs, Modular PLCs offer a flexible and efficient solution. Furthermore, the integration of IoT (Internet of Things) technology into Modular PLCs is expected to fuel growth in this market in the coming years.

Europe and North America are expected to dominate the modular PLC market with a combined market share of over 60%. The growth of these regions is attributed to the increasing adoption of automation in various industries such as automotive, food and beverage, and pharmaceuticals. The Asia-Pacific region is also expected to witness substantial growth due to the rise in manufacturing activities and government initiatives promoting automation.In terms of market share by segmentation, the modular PLC market is expected to grow at a CAGR of over 5% during the forecast period. The market is segmented by type (rack-based and standalone), application (automotive, food and beverage, pharmaceuticals, and others), and geography. The industrial automation segment is expected to have the highest market share, followed by the automotive sector.

Modular Programmable Logic Controller (PLC) Market is highly competitive and comprises several key players. ABB Limited, B&R Industrial Automation, General Electric, IDEC Corporation, Mitsubishi Electric Company, Omron Corporation, Rockwell Automation Inc., Siemens AG, Schneider Electric SE, and Robert Bosch GmbH are the prominent players operating in this market. These players focus on product innovation, partnerships, collaborations, and mergers & acquisitions to gain a competitive advantage over other players.

In 2019, ABB Limited reported sales revenue of $28.6 billion, while Siemens AG reported sales revenue of €58.5 billion. General Electric reported sales revenue of $23.4 billion, Rockwell Automation Inc. reported sales revenue of $6.6 billion, and Schneider Electric SE reported sales revenue of €27.2 billion.

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Amrita Pandey
Prime PR Wire
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