(MENAFN- GlobeNewsWire - Nasdaq) Rockville, Nov. 24, 2022 (GLOBE NEWSWIRE) -- In this report, Fact.MR provides key insights into the global outdoor warning sirens market. The global outdoor warning sirens market is predicted to expand at a CAGR of 3.4% over the forecast period and is expected to have a market value of US$ 222.8 Million in 2032.
The global outdoor warning sirens market is categorized into various clusters such as coverage pattern, source, and range. In the coverage pattern category, Omni-directional leads in the market by contributing 65.4% of market share in 2021 and will be foreseen to reach the valuation of US$ 154 Mn by the end of the forecast period.
As a global strategy, leading outdoor warning sirens manufacturers have been reported to work in tandem with domestic players to increase their footprints in developing countries. The top ten players in the market contribute to about 50% of the global market share.
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Europe is expected to retain its dominance in the market. Focusing on local supply contracts is expected to be beneficial for the companies in the long run.
Key Takeaways from Market Study
The global outdoor warning sirens market is projected to grow at a CAGR of 3.4% and be valued at US$ 222.8 million by 2032. The market witnessed (4.5)% CAGR for the period of 2017-2021. Under coverage pattern, Omni-directional dominates the market and are estimated to be valued at US$ 104.9 million in 2022. Europe dominated the market with 32.2% market share in 2021. Mechanical source likely to represent 5.2% market share in 2022. Below 2500 feet outdoor warning sirens to have a market value of US$ 61.4 Mn in 2022.
“Growth of Power & Energy Sectors such as Chemical and Nuclear Plants to Drive Growth of the Outdoor Warning Sirens” says a Fact.MR analyst.
Segmentation of Outdoor Warning Siren Industry Research
By Coverage Pattern: Directional Rotating Omni-directional
By Source: Mechanical Electromechanical Electronic
By Range: Below 2500 Feet 2500-5000 Feet Above 5000 Feet
By Region: North America Latin America Europe East Asia South Asia and Oceania Middle East and Africa
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Market Development
In the past decade, natural disasters have struck more frequently along with natural disasters. Violent changes in the atmosphere have caused several unforeseen disasters in the near past. In 2020, meteorological disasters were recorded such as storms, cyclones, floods, etc. Due to a rise in natural disasters, various economies are installing outdoor warning sirens to protect individuals from such disasters. Thus, due to an increase in natural disasters, the demand for outdoor warning sirens has also increased, and the trend goes the same over the forecast period.
Fact.MR has identified various market development in its report such as Acoustic Technology, Inc., in 2020 successfully implemented and tested the first cost-effective Tsunami Siren System on the Puerto Rico shoreline.
Key Companies Profiled
Acoustic Technology, Inc. American Signal Corporation Federal Signal Corporation Earth Networks E2S Warning Signals Whelen Engineering Co., Inc. Sentry Siren, Inc. Anything Weather Communications, Inc. HÖRMANN Group Perfect Corporation (Industrial Siren) Edwards Signaling Company Mechtric Group
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Fact.MR, in its new offering, presents an unbiased analysis of the global outdoor warning sirens market, presenting historical market data 2017-2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of coverage pattern (directional, rotating, omni-directional), source (mechanical, electromechanical, electronic), range (below 2500 feet, 2500-5000 feet, above 5000 feet) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia and Oceania and Middle East & Africa).
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