Technology

Industrial Safety Gates Market to grow by USD 140.9 Million from 2024-2028, driven by self-closing gate features, AI-powered report highlights market trends – Technavio

Published

9 hours ago

October 8, 2024

NEW YORK, Oct. 8, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Industrial Safety Gates Market size is estimated to grow by USD 140.9 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 5.15% during the forecast period. Provision of self-closing and opening of gates is driving market growth, with a trend towards high demand for industrial safety gates from telecom industry. However, fluctuating raw material prices required for industrial safety gates poses a challenge – Key market players include Abbey Gates, Ametco Manufacturing Corp., ARA Group Ltd., ASSA ABLOY AB, Avians Innovations Technology Pvt Ltd., Avon Barrier Corp. Ltd., Benko Products Inc., FAAC Spa, Fabenco Inc., Frontier Pitts Ltd., Intrepid Industries Inc., Kee Safety Inc., Mezzanine Safeti Gates Inc., Proactive Group Australia, Procter Brothers Ltd., PS Industries Inc., Safety Rail Co. LLC, Tymetal, U.S. Netting Inc., and Wilcox Door Service.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (Swing gates, Vertical lift gates, and Others), Distribution Channel (Direct sales and Indirect sales), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

Abbey Gates, Ametco Manufacturing Corp., ARA Group Ltd., ASSA ABLOY AB, Avians Innovations Technology Pvt Ltd., Avon Barrier Corp. Ltd., Benko Products Inc., FAAC Spa, Fabenco Inc., Frontier Pitts Ltd., Intrepid Industries Inc., Kee Safety Inc., Mezzanine Safeti Gates Inc., Proactive Group Australia, Procter Brothers Ltd., PS Industries Inc., Safety Rail Co. LLC, Tymetal, U.S. Netting Inc., and Wilcox Door Service

Key Market Trends Fueling Growth

Telecom towers, with their tall structures, necessitate regular maintenance and installations by technicians and tower climbers, often on rooftops. These sites house large HVAC systems and chiller units, increasing the need for secure access. Industrial safety gates provide this access, reducing falls and non-compliance risks. Rising injuries from slips and falls in the telecom sector will fuel industrial safety gates market growth. With the highest number of telecom towers, China, India, and the US, present significant opportunities. The increasing global expansion of telecom networks is expected to boost market growth during the forecast period.

The Industrial Safety Gates market is experiencing growth due to increasing workplace safety regulations. Self-closing gates and swing gates are popular choices, while vertical lift gates and spring-loaded gates offer convenience. Direct and indirect sales channels cater to diverse customer needs. The telecom industry is a significant end-user, with moderate competition from players like self-closing gate monopolies and highly fragmented spring-loaded gate providers. Export potential is high, influenced by trade relations and tariffs. Consumer trends, such as convenience foods, disposable incomes, and health consciousness, impact demand. Corn prices, alternative starches, thickening agents, binding agents, and stabilizers influence production costs. Sustainable sourcing is crucial in industrial sectors like automotive, electronics, and healthcare. Technology evolution, driven by artificial intelligence, the Internet of Things, and 5G communication, offers new opportunities. Industries like automotive, consumer electronics, and healthcare devices continue to drive demand for industrial safety gates. Miniaturization and power efficiency are key trends in electronic devices and digital circuits, impacting gate design and functionality.

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Market Challenges

The industrial safety gates market is significantly influenced by the volatility in the prices of raw materials, primarily steel. This instability can hinder the adoption of safety gates in emerging economies due to regulatory requirements. The causes of raw material price fluctuations include increasing taxes, duties, and tariffs, as well as production disruptions in metal ore-producing countries. These factors impact the entire supply chain, necessitating advanced planning for raw material procurement, supplier selection, and inventory management. Raw materials represent a substantial portion of manufacturers’ costs, and unforeseen price increases can negatively impact profit margins. Bulk purchases of raw materials to secure inventory and maintain consistent product quality can escalate inventory and production costs. In some instances, purchasing raw materials in advance may result in higher costs than at the time of production. Consequently, the industrial safety gates market may experience growth challenges due to the unpredictability of raw material prices throughout the forecast period.The Industrial Safety Gates market faces several challenges in today’s business landscape. Import demand fluctuations can impact raw material sourcing and pricing. Consumer trends, such as convenience foods and health consciousness, influence the demand for specific gate types. Corn prices and alternative starches impact manufacturing costs. Sustainable sourcing and technology evolution, including AI and IoT, are driving the need for novel materials and gate designs. Industrial sectors like automotive, electronics, and healthcare have unique requirements. Automotive demands miniaturization, power efficiency, and in-vehicle infotainment. Consumer electronics require high-speed data processing, while communication devices need low power consumption. Healthcare devices prioritize patient monitoring systems and data processing. Manufacturing costs are a concern due to factors like thickening agents, binding agents, stabilizers, and the prices of components such as AND, OR, NOT, XOR, NAND, NOR, and XNOR gates. Field-programmable gate arrays and digital signal processing are essential for telecommunications, aerospace, and defense industries. The evolving technology landscape, including 5G communication and autonomous vehicles, presents both opportunities and challenges for the Industrial Safety Gates market. Companies must stay updated on these trends and adapt quickly to remain competitive.

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Segment Overview

This industrial safety gates market report extensively covers market segmentation by

Product 1.1 Swing gates1.2 Vertical lift gates1.3 OthersDistribution Channel2.1 Direct sales2.2 Indirect salesGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 Swing gates- Swing gates are a popular choice in the industrial safety gates market due to their functionality and advantages. In 2023, swing gates accounted for a significant market share, primarily due to their ease of installation, lesser maintenance, cost-efficiency, and smooth operation. These gates are commonly used near rooftop hatches and ladder access openings. Health and safety organizations, such as OSHA and HSE, mandate their use in unprotected areas. Vendors offer self-closing swing gates, eliminating the need for manual closure. The swing gates segment is poised for growth in the industrial safety gates market during the forecast period.

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Research Analysis

The Industrial Safety Gates market encompasses a range of gate designs, including self-closing, swing, vertical lift, and spring-loaded options. Workplace safety regulations mandate the use of these gates to prevent accidents and ensure worker protection. Self-closing gates are popular due to their automatic closing feature, while swing gates offer ease of use and accessibility. Vertical lift gates are ideal for limited spaces, and spring-loaded gates provide a quick and efficient solution. The market exhibits varying degrees of competition, from monopolistic to highly fragmented, with key factors influencing this dynamic. Export potential is significant, particularly in industries such as telecom, where electronic devices, digital circuits, information processing, consumer electronics, communication devices, and technology evolution drive demand for safety gates. The automotive sector also presents a lucrative opportunity, with in-vehicle infotainment systems and 5G communication leading the way. Artificial Intelligence and the Internet of Things are transforming the safety gates industry, with intelligent gate systems offering enhanced functionality and improved safety features. The integration of these technologies is expected to further fuel market growth and competition.

Market Research Overview

The Industrial Safety Gates market is a significant sector that caters to the need for workplace safety in various industries. Self-closing gates are a crucial part of this market, ensuring the automatic closure of gates after use, preventing accidents. Workplace safety regulations mandate the installation of safety gates in numerous sectors. Swing gates and vertical lift gates are popular choices due to their functionality and ease of use. The market exhibits moderate competition with key players accounting for a significant share. Spring-loaded gates and powder-coated gates are other offerings in this market. Export potential is high due to the global demand for industrial safety. Trade relations and tariffs can impact import demand. Industries like telecom, electronics, automotive, and healthcare drive the market growth. Technological advancements such as Artificial Intelligence, Internet of Things, and 5G communication are transforming the safety gates industry. The market is highly fragmented with numerous players catering to diverse industrial sectors. Industrial sectors like automotive, electronics, and healthcare have a significant impact on the market due to their high demand for safety gates. Miniaturization and power efficiency are key trends in the electronics sector influencing the market. The healthcare sector’s focus on patient monitoring systems and high-speed data processing necessitates the use of advanced safety gates. Autonomous vehicles and manufacturing costs are emerging trends in the automotive sector. The manufacturing industry’s shift towards Field-Programmable Gate Arrays (FPGAs) and digital signal processing is also driving the market. Novel materials and the development of advanced gate designs continue to shape the market landscape. In conclusion, the Industrial Safety Gates market is a dynamic and evolving sector that caters to the safety needs of various industries. It is influenced by factors such as workplace safety regulations, technological advancements, and industry trends. The market’s future growth prospects are promising, driven by the increasing demand for safety and automation in various sectors.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSwing GatesVertical Lift GatesOthersDistribution ChannelDirect SalesIndirect SalesGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

Technology

DAHON & RoyalBaby Unveils New Strategic Partnership

Published

52 mins ago

October 9, 2024

BEIJING, Oct. 9, 2024 /PRNewswire/ — DAHON, a global leader in folding bikes, and RoyalBaby, a global leader in children’s bikes, announced a strategic partnership during a press conference at the Shangri-La Hotel in Beijing, China, on August 9, 2024.

This strong alliance between DAHON and RoyalBaby signifies an important milestone for China’s bicycle market. DAHON is a world-renowned folding bike brand that also stands at the forefront of scientific innovation for bicycle frames and components, while RoyalBaby is a global leader in children’s bicycles with a strong focus on the R&D and manufacturing of high-quality products. The synergy between the two global brands and their complementary strengths will not only inject fresh vitality into the children’s bicycle market, but also promote the quality and healthy development of the bicycle industry in China.

“As DAHON and RoyalBaby have accumulated a wealth of knowledge and outstanding performance in their respective fields, this strategic cooperation will surely set a new benchmark for the industry. I sincerely hope that this cooperation can drive more enterprises to actively explore their frontier of innovation and jointly promote the sustainable and healthy development of China’s toy and baby products industry.”, said Ms. Liang Mei, President of the China Toy and Juvenile Products Association at her keynote speech.

Ms. Zheng Xiaoling, Director of the China Bicycle Association, expressed that the partnership was a practical embodiment of the concepts of “sharing, win-win, and co-development.” It is believed that through in-depth cooperation, DAHON and RoyalBaby will lead the entire bicycle industry to move towards a more intelligent, personalized and green direction.

Dr. David Hon, Founder of DAHON, delivered a keynote titled “Driving High-Quality Industry Development through Shared Economy.” He remarked that DAHON had been always committed to developing lightweight and green transportation solutions. So far, the company had obtained over 500 bicycle-related patents, which had gone beyond the adoption by DAHON’s own products to sharing with other manufacturers through the “Sharing 360” global initiative. The partnership with RoyalBaby was a crucial step in this initiative and it marked a significant leap forward for China’s bicycle market.

Mr. Tong Lixin, Chairman of RoyalBaby, spoke about RoyalBaby’s dedication to the children’s bicycle sector, focusing on independent research and innovation to provide safe, practical products for children worldwide. He expressed confidence that the collaboration with DAHON would elevate both brands in technology, product innovation, and global market influence.

During the event, Dr. David Hon and Mr. Tong Lixin jointly unveiled five co-branded children’s bikes. RoyalBaby’s Brand Director, Mr. Liu Chang, introduced the new models featuring upgraded designs, manufacturing processes, safety features, and riding experiences. These offer new choices for the children’s bicycle market and provide users with a one-stop solution.

The creation of co-branded children’s bicycles is just the beginning of the strategic partnership. Mr. Xu Hongchen, Domestic Sales Manager of DAHON, discussed future market trends and emphasized that DAHON and RoyalBaby will further collaborate in areas such as technological innovation, channel marketing, and service promotion, creating richer, more diverse consumer experiences and supporting the trend towards green urban mobility.

The partnership will cover a comprehensive range of bikes, from large-wheel bikes (DAHON road and mountain bikes), to medium-to-small wheels (DAHON folding bikes under 20 inches) and small-wheel models.

In the future, DAHON and RoyalBaby plan to collaborate further through joint marketing and cross-industry partnerships, building their brand image and promoting the values of health and environmental sustainability, driving rapid development in the bicycle sector.

SOURCE DAHON

Technology

SARAH BETH LARDIE JOINS SOCIAL CURRENT AS CHIEF DEVELOPMENT OFFICER

Published

52 mins ago

October 9, 2024

Lardie to Lead Multi-Faceted Development Strategies Across Social and Human Services Funders and Foundations

WASHINGTON, Oct. 9, 2024 /PRNewswire/ — Social Current today announced that Sarah Beth Lardie has joined the organization as chief development officer to oversee and coordinate funding and development strategies across a broad range of social sector and human services funders and foundations.

With nearly two decades of experience in advancing the mission, vision, and goals of nonprofit organizations, Ms. Lardie has helped to lead the growth and sustainability of a wide range of successful organizations, raising more than $20 million dollars annually for civil society actors ranging from United Nations to local food banks. She began her career as a social worker working with children and families before transitioning to a career in development. As a member of the founding leadership team of Joshua Venture, a fellowship program for social entrepreneurs, she was responsible for providing fellowships for 16 entrepreneurs across the U.S. She has also been a mentor with MIT’s LaunchX program and an advisor to the African Venture Philanthropy Network.

“Sarah Beth’s extensive experience in development and her understanding and familiarity with the social sector as a social worker will help us grow our strategic partners across the sector,” noted Jody Levison-Johnson, president and CEO of Social Current. “She will be a critical asset in our efforts to activate the power of the social sector to help build an equitable society where all people can thrive.”

“Building civil society, bringing more people and resources to the critical work being done is fulfilling,” commented Sarah Beth Lardie. “Nonprofit organizations are where innovations to solve society’s most difficult problems are happening, and I love being part of that. That’s what drew me to Social Current.”

Lardie received her bachelor’s in sociology and labor studies from Rutgers University, her master’s in social work from the Columbia University School of Social Work and her master’s in public administration from Carnegie Mellon University/University of Pittsburgh in a dual degree program. She is based in New York City.

Media Notes: Photo available upon request. Please contact Jennifer Devlin at jdevlin@social-current.org.

About Social Current
Social Current is the premier partner and solutions provider to a diverse network of more than 1,800 human and social service organizations. Together with our network, we are activating the power of the social sector to effect broader systemic change that is needed to achieve our vision of an equitable society where all people can thrive. We support, strengthen, and amplify the work of the social sector in six core integrated areas including brain science and trauma-informed approaches; COA Accreditation; child, family, and community well-being; equity, diversity, and inclusion; government affairs and advocacy; and leadership and organizational development.

CONTACT:

Jennifer Devlin, 703-966-3241
jdevlin@social-current.org

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SOURCE Social Current

Technology

IDA Is Integrating Chainlink To Enhance Transparency of Its HKDA Stablecoin Backed 1:1 By the Hong Kong Dollar

Published

52 mins ago

October 9, 2024

HONG KONG, Oct. 9, 2024 /PRNewswire/ — IDA, a Hong Kong-based fiat-referenced stablecoin issuer, is integrating Chainlink’s industry-standard services for tokenized assets. Those include Chainlink Proof of Reserve (PoR) for verifying asset collateralization and the Chainlink Cross-Chain Interoperability Protocol (CCIP) for the secure movement of cross-chain data and value to support its upcoming HKDA stablecoin issuance, which is backed 1:1 by the Hong Kong dollar.

The Chainlink integration gives HKDA users enhanced visibility into the reserves backing the stablecoin through Chainlink’s secure and reliable onchain PoR data. IDA also plans to integrate Chainlink CCIP, which will enable IDA to securely mobilize HKDA across multiple blockchains, ultimately enhancing the token’s utility and accessibility.

“Chainlink is the industry standard for verifying the collateralization of digital assets onchain and moving them cross-chain, providing our ecosystem partners with enhanced assurances regarding the stability and backing of HKDA, as well as increased accessibility to HKDA by making it available across various chains” said Sean Lee, co-founder and CSO of IDA.

IDA is currently collaborating with leading financial institutions, banks, traditional exchanges, virtual asset exchanges, retail businesses, and real-world asset (RWA) issuers on the use of HKDA as a secure payments vehicle and institutional trading instrument in digital asset markets. “The ability to tokenize RWAs not only streamlines transactions and reduces costs, but also enhances market efficiency, making it easier for businesses to manage and trade their assets. This innovation will undoubtedly stimulate the economy and transform the financial landscape,” Lee added.

Angie Walker, Global Head of Banking and Capital Markets at Chainlink Labs said, “We are excited to be IDA’s technical partner and provide a solution that enables greater visibility into the asset collateralization behind the stablecoin while powering secure cross-chain movement. Our goal is to not only advance the adoption of HKDA as a payments vehicle for cross-border transactions but also support the development of tokenized real-world assets. Tokenized money, including stablecoins, has the potential to unlock quadrillions of dollars of tokenized assets, bringing more liquidity to the market.”

About IDA Finance Hong Kong Limited (IDA)
IDA is the premier digital asset technology company to spearhead the widespread adoption of blockchain finance and to empower businesses to seamlessly integrate between Web2 and Web3.

HKDA, a fiat-referenced stablecoin built on public blockchain protocols, will be the first product launched by IDA. HKDA is designed to drive enhanced digital connectivity for seamless commerce and payments between Hong Kong and global markets, 24/7/365. To maintain the highest level of security and stability, all circulating HKDA will always be fully backed by at least 100% reserve assets in regulated Hong Kong based authorized institutions.

To maximize the network effect of HKDA for domestic and cross-border usage, IDA is partnering with key industry players to facilitate the minting, redemption and widespread acceptance of HKDA as a payment and settlement digital currency. In subsequent phases, IDA will also launch key products denominated in other US Dollar (USD) pegged currencies with ecosystem partners across regulated financial institutions and Web3 platforms.

More information can be found at idafi.xyz / LinkedIn / X

About Chainlink
Chainlink is the universal platform for pioneering the future of global markets onchain. Chainlink has enabled over $15 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

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SOURCE Chainlink; IDA