6/17/2002 - A new report from Venture Development Corporation (VDC) titled "The U.S. Market for Machine Automatic Safeguarding Equipment" has found that demand for this equipment was down significantly in 2001. The U.S. market for these products began softening in the 4th quarter of 2000, and experienced an overall decline estimated at between 20 and 25% in 2001. The study forecasts that significant market recovery will not occur for these products in 2002. However, pent-up demand is expected to lead to significant growth in 2003, with a slowing of the growth thereafter over the subsequent 3 years to a more sustainable level. The overall market estimated at $196 million in 2001 is forecast to reach $308 million in 2006, increasing at a 9.5% Compound Annual Growth Rate (CAGR). Propelling on-going market growth for these products will be the continuing trend to automation of factory operations, increasing safety awareness, concerns over liability by manufacturers, and increasing tighter safety regulations.
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