According to Fact.MR, sales of outdoor warning sirens are estimated to decline by ~40% in 2024, amidst the COVID-19 crisis. However, in the near-term, the market will regain its position to grow at a value CAGR of 3% over the forecast period (2020-2030). Over the years, outdoor warning sirens have been used for civil and defense purposes: to warn people of natural & man-made emergencies.
Today, the global spread of COVID-19 has had an impact on all industries and across all businesses. Sales of outdoor warning sirens has been impacted due to widespread disruptions in the supply chain and halted trade activities. On the positive side however, regions badly impacted by the virus are adopting outdoor warning sirens in a big way as a unique, fast and easily operable solution to prepare masses for responding to emergency situations. Towards this, crisis teams are warning the masses about isolation and quarantine measures using outdoor warning sirens.
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Key Takeaways of the Global Outdoor Warning Sirens Market Study:
- The directional segment is projected to create an absolute $ opportunity of US$ ~0.5 Mn the during forecast period of 2024–2030. The directional segment is expected to register a CAGR of 1.5% during the forecast period.
- The below 2500 feet segment is estimated to account for ~37% of revenue share of the market by 2024 and is expected to grow by gaining 570 BPS in its market share by 2030.
- Mechanical outdoor warning sirens are quickly getting replaced by electromechanical sources, as it offers relatively low cost and less maintenance.
- The demand for outdoor warning sirens is higher in Europe & North American countries due to greater natural damage caused in these regions. Also, siren makers are focusing on investing more in European countries, which is expected to boost growth of the outdoor warning sirens market.
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“The outdoor warning sirens market is niche in nature. The COVID-19 pandemic has negatively affected its market growth. However, resumption in testing of sirens across the globe will increase outdoor warning siren sales in the coming years.” Says a Fact.MR analyst.
Emerging Technologies in Outdoor Warning Sirens Generate Profit Pools for Key Market Actors
With the rise in demand for outdoor warning sirens, the key players in the market are also adopting newer technologies such as Emergency Alert Systems (EAS). 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. Moreover, the top ten players in the market contribute around ~50% of the global revenue shares in the market. Further, exhaustive inventories are expected to sustain the short term demand. Extension of the lockdown period is expected to be detrimental in the long term.
Find More Valuable Insights on Outdoor Warning Sirens Market
Fact.MR, in its new offering, provides an unbiased analysis of the global outdoor warning sirens market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2024-2030. The study divulges compelling insights on the outdoor warning sirens market on the basis of coverage pattern (Directional, Rotating, and Omni-Directional), source (Mechanical, Electromechanical, and Electronic), range (Below 2500 Feet, 2500-5000 Feet, above 5000 Feet) across seven regions.
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