Market Size of NA Push Buttons & Signaling Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.56 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Push Buttons & Signaling Devices Market Analysis
The North American push button and signaling device market is expected to record a CAGR of 4.56% during the forecast period. The COVID-19 lockdowns severely impacted infrastructure modernization in commercial and industrial sectors. The pandemic adversely affected the supply chain and revenues of major companies operating in the region, mainly in the first half of 2020. However, the signaling device manufacturers and push buttons adopted new digital technology to make the supply chain more efficient in China. The pandemic led to a growth in the initiatives toward renewable energy, boosting the demand for push buttons and signaling devices.
- Push buttons are extensively used in industries, owing to the comfort and safety provided by them in several industrial and commercial applications. Thus, major factors contributing to the growth of the push button and signaling device market are the rising number of industrial safety regulations imposed by the government, the rampantly growing manufacturing sector, and rising automation in the utility sector.
- North America is one of the prominent regions in the signaling devices market. It is the major revenue contributor due to increasing automation in manufacturing plants and petrochemical units, which require monitoring systems in hazardous locations.
- According to IndustrySelect, the US manufacturing sector plays a crucial role in the economy, accounting for 20% of US capital investment, 70% of business R&D, and 60% of the nation's exports. Collectively, the sector's expansion measured in terms of revenue is worth roughly USD 6 trillion, making it a major industry to do business.
- In the United States, automotive manufacturers such as Toyota, Lexus, Ford, Nissan, and BMW are releasing new automobiles with keyless driving facilities, leading to the increasing use of push buttons and signaling devices in the automotive segment of the region.
- In the food and beverage industry, signaling devices are extensively used to store food items at a specific temperature and cold storage. In case of some changes or fluctuation, these devices alarm the workers. Thus, they are being used to avoid the spoilage or wastage of stored foods, such as RTD sensors and temperature transmitter solutions for dairy products.
