Global Industrial Safety Relay Market

Global Industrial Safety Relay Market Size, Trends, and Analysis- Forecasts to 2026 By Product Type (Single-function, Configurable Safety Relays, Modular Safety Relays, Monitoring Safety Relays), By Terminal Type (Screw Terminal, Spring Cage Terminal), By Application (Construction, Manufacturing, Transportation, Energy & Power), By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Company Market Share Analysis & Competitor Analysis

Category Energy & Power

Format

This report was recently updated on April 16 2024 with the latest and most recent market numbers

Global Industrial Safety Relay Market: Insights

The industrial safety relay market is estimated to be valued at USD 545.99 million in 2021 and is projected to reach USD 690.23 million by 2026 at a CAGR of 4.8%. Rising mechanization in a variety of end-use industries, including factory automation and metallurgy, is being proposed to maximize demand. The governing body's legislation requiring the installation of such relays on production sites to improve workplace safety is foreseen to drive demand. Monitoring safety gateways, muting, pressure-sensitive matting, light barricades, two-hand controllers, standstill, and a variety of many other security functionalities are likely to drive up demand.

These relays attached to individual functioning, when connected all together, provide a whole monitoring system for the industries. Many industrial sectors across the world have their safety standards and guidelines to protect industrial workers from malfunctions in the functioning of the control panels, as well as to ensure the longevity of capital investments. Installing such relays and following the standard safety norms enable the industry players to be eligible of getting a certified status of safety measures. These relays are preferred by the majority of industry players as they have simpler mechanisms and ensure more efficient results. Not only do these relays assure the safety of the operators, but they also undertake self-monitoring within the relays to ensure their validity and reliability. These devices once installed can facilitate smooth working as well as low maintenance costs to the industry owners. These relays mechanize the power initiation of equipment as well as regulate the disconnecting function of industrial equipment. Increasing technological advancements and Industry 4.0, the application of the Internet of Things (IoT), and Artificial Intelligence are driving the whole mechanism of industries in different sectors. This has also brought advancements in the functioning and control panels of industrial safety relays, thus improving the safety results and giving more choices for industry players to choose from.

The industrial sector is highly vulnerable to various sorts of failures, electrical and mechanical hazards, it truly requires some measures that could assure the safety of the workers as well as protect the industrial machinery. Since the industrial revolution era, bringing in strict safety measures has been a complex task for the organizational authorities. Past experiences highlighted cases reporting injuries and fatal accidents in industry work environments, thus giving no protection guarantee to the workers. These failures and accidents have also caused huge monetary losses for the industry's owners. It has become very necessary to bring in stringent laws for the industrial sector to ensure safety and protective measures. That’s when initiatives were undertaken to bring in regulations like the Occupational Safety and Health Act of 1970. Acts like these impose stricter rules on industries to maintain safety measures. Similar kinds of acts and initiatives like OSHA were undertaken later in various countries across the world, like the Factories Act, Occupational Health and Safety (OHS) legislation, and many others. The formation of these laws and acts made it compulsory for the industry players to adopt such relays in their mechanisms.

global industrial safety relay market

Global Industrial Safety Relay Market: By Product Type

Single function safety relays are extensively used in various industrial domains. These are the most cost-effective options for the industry owners to adopt into their factories to regulate smooth precautionary measures. These single-function safety relays also facilitate digitalized operation despite being an economical option for the industry players. These also provide extra features like detecting time delays in machinery operations and monitoring the speed ratios of operating panels. The single-function relays also control start and shutdown orders given to the applications. These are very suitable for small versions of applications and support a wide range of control devices.

Modular and configurable safety relays are also considerably in demand, but comparatively less than single-function relays. These kinds of safety relays support larger control panels and applicational devices. These are also preferred when a large number of devices need to be monitored simultaneously.

Global Industrial Safety Relay Market: By Terminal Type

Generally, industries adopt multiple safety relays for monitoring various functions simultaneously. These simultaneous monitoring safety relays require terminals that can support multiple connecting devices at a time. This requirement can be fulfilled by using screw terminals in such relays. Screw terminals are extremely module and also support small-sized wiring in control panels.

Spring cage terminals act as alternative options for industry players to use. These are extremely useful when the operations and machinery function showcase high vibrations or external changes due to fluctuation in temperature.

Global Industrial Safety Relay Market: By Application

Considering the stringent rules formed by various acts and laws, a lot of industries have to apply these safety relays into their mechanisms to ensure protection for their workers and to prevent them from facing any mechanical failures and accidents. Construction, Manufacturing, Transportation, Energy & Power are some sectors where safety relays are applied to monitor their operational working. Amongst these, the Energy and Power sectors have these safety applications in the majority of their industries. These industries are highly vulnerable to electrical shortcoming and extreme mishaps in power plant stations which can major be dangerous for the complete industry as well as to its operators. These energy resources are in high demand today and increasing research and development on nuclear energy sources and power plants can be extremely explosive if not monitored efficiently. These factors call for effective safety relay application into these industries worldwide.

asia pacific industrial safety relay market

Global Industrial Safety Relay Market: By Region

The Asia Pacific region holds its dominance when it comes to applicational purposes of safety relays. China and India are the biggest users of industrial safety relays attributing to the growing construction, automobile, and energy industry. India has one of the largest energy and power sectors and has had a huge history in many fatal explosions in the power industries. This and many other incidences have compelled the governments in the APAC region to bring OHS laws into their legislatures. These countries are also encouraging and adopting the motto of utilizing self-made products and decreasing import rates, which is leading to increased growth rates in the manufacturing sectors, correspondingly increasing the chances of industrial accidents. To avoid these, manufacturing industries are undertaking safety relays. The increasing awareness about worker safety and guaranteed protection is also compelling industries in the APAC region to adopt industrial safety relays. North America and Europe have stringent standards and regulations in place to provide a safe working environment. Because of its customizable modular construction, the usage of safety relay as an integral element of the device network has affected the safety relay market. Furthermore, the simple framework and no training requirement for operating safety relays encourages development.

Global Industrial Safety Relay Market: By Share & Competitor Analysis

PHOENIX CONTACT, Galco Industrial Electronics, wenglor sensoric GmbH, Rockwell Automation, Inc., IDEC Corporation, Pilz GmbH & Co. KG, OMRON Corporation, Leuze electronic, Inc, ABB, and Schneider Electric are some of the prominent market players.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1 Methodology

1.1 Market Scope & Definitions

1.2 Estimates & Forecast Calculation

1.3 Historical Data Overview and Validation

1.4 Data Sources

1.4.1 Secondary

1.4.2 Primary

Chapter 2 Report Outlook

2.1 Industrial Safety Relay Industry Overview, 2016-2026

2.1.1 Industry Overview

2.1.2 Product Type Overview

2.1.3 Terminal Type Overview

2.1.4 Application Overview

2.1.5 Regional Overview

Chapter 3 Industrial Safety Relay Market Trends

3.1 Market Segmentation

3.2 Industry Background, 2016-2026

3.3 Market Key Trends

3.3.1 Positive Trends

3.3.1.1 Growing Awareness About the Worker Safety

3.3.1.2 Rising Mechanization in A Variety of End-Use Industries

3.3.2 Industry Challenges

3.3.2.1 Lack of Standardization

3.4 Prospective Growth Scenario

3.4.1 Product Type Growth Scenario

3.4.2 Terminal Type Growth Scenario

3.4.3 Application Growth Scenario

3.5 COVID-19 Influence over Industry Growth

3.6 Porter’s Analysis

3.7 PESTEL Analysis

3.8 Value Chain & Supply Chain Analysis

3.9 Regulatory Framework

3.9.1 North America

3.9.2 Europe

3.9.3 APAC

3.9.4 LATAM

3.9.5 MEA

3.10 Technology Overview

3.11 Market Share Analysis, 2020

3.11.1 Company Positioning Overview, 2020

Chapter 4 Industrial Safety Relay Market, By Product Type

4.1 Product Type Outlook

4.2 Single-function

4.2.1 Market Size, By Region, 2016-2026 (USD Million)

4.3 Configurable Safety Relays

4.3.1 Market Size, By Region, 2016-2026 (USD Million)

4.4 Modular Safety Relays

4.4.1 Market Size, By Region, 2016-2026 (USD Million)

4.5 Monitoring Safety Relays

4.5.1 Market Size, By Region, 2016-2026 (USD Million)

Chapter 5 Industrial Safety Relay Market, By Terminal Type

5.1 Terminal Type Outlook

5.2 Screw Terminal

5.2.1 Market Size, By Region, 2016-2026 (USD Million)

5.3 Spring Cage Terminal

5.3.1 Market Size, By Region, 2016-2026 (USD Million)

Chapter 6 Industrial Safety Relay Market, By Application

6.1 Application Outlook

6.2 Construction

6.2.1 Market size, By Region, 2016-2026 (USD Million)

6.3 Manufacturing

6.3.1 Market size, By Region, 2016-2026 (USD Million)

6.4 Transportation

6.4.1 Market size, By Region, 2016-2026 (USD Million)

6.5 Energy & Power

6.5.1 Market size, By Region, 2016-2026 (USD Million)

Chapter 7 Industrial Safety Relay Market, By Region

7.1 Regional outlook

7.2 North America

7.2.1 Market Size, By Country 2016-2026 (USD Million)

7.2.2 Market Size, By Product Type, 2016-2026 (USD Million)

7.2.3 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.2.4 Market Size, By Application, 2016-2026 (USD Million)

7.2.5 U.S.

7.2.5.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.2.5.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.2.5.3 Market Size, By Application, 2016-2026 (USD Million)

7.2.6 Canada

7.2.6.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.2.6.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.2.6.3 Market Size, By Application, 2016-2026 (USD Million)

7.3 Europe

7.3.1 Market Size, By Country 2016-2026 (USD Million)

7.3.2 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.3 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.4 Market Size, By Application, 2016-2026 (USD Million)

7.3.5 Germany

7.2.5.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.2.5.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.2.5.3 Market Size, By Application, 2016-2026 (USD Million)

7.3.6 UK

7.3.6.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.6.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.6.3 Market Size, By Application, 2016-2026 (USD Million)

7.3.7 France

7.3.7.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.7.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.7.3 Market Size, By Application, 2016-2026 (USD Million)

7.3.8 Italy

7.3.8.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.8.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.8.3 Market Size, By Application, 2016-2026 (USD Million)

7.3.9 Spain

7.3.9.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.9.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.9.3 Market Size, By Application, 2016-2026 (USD Million)

7.3.10 Russia

7.3.10.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.3.10.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.3.10.3 Market Size, By Application, 2016-2026 (USD Million)

7.4 Asia Pacific

7.4.1 Market Size, By Country 2016-2026 (USD Million)

7.4.2 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.3 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.4.4 Market Size, By Application, 2016-2026 (USD Million)

7.4.5 China

7.4.5.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.5.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.4.5.3 Market Size, By Application, 2016-2026 (USD Million)

7.4.6 India

7.4.6.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.6.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.4.6.3 Market Size, By Application, 2016-2026 (USD Million)

7.4.7 Japan

7.4.7.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.7.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.4.7.3 Market Size, By Application, 2016-2026 (USD Million)

7.4.8 Australia

7.4.8.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.8.2 Market size, By Terminal Type, 2016-2026 (USD Million)

7.4.8.3 Market Size, By Application, 2016-2026 (USD Million)

7.4.9 South Korea

7.4.9.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.4.9.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.4.9.3 Market Size, By Application, 2016-2026 (USD Million)

7.5 Latin America

7.5.1 Market Size, By Country 2016-2026 (USD Million)

7.5.2 Market Size, By Product Type, 2016-2026 (USD Million)

7.5.3 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.5.4 Market Size, By Application, 2016-2026 (USD Million)

7.5.5 Brazil

7.5.5.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.5.5.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.5.5.3 Market Size, By Application, 2016-2026 (USD Million)

7.5.6 Mexico

7.5.6.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.5.6.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.5.6.3 Market Size, By Application, 2016-2026 (USD Million)

7.5.7 Argentina

7.5.7.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.5.7.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.5.7.3 Market Size, By Application, 2016-2026 (USD Million)

7.6 MEA

7.6.1 Market Size, By Country 2016-2026 (USD Million)

7.6.2 Market Size, By Product Type, 2016-2026 (USD Million)

7.6.3 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.6.4 Market Size, By Application, 2016-2026 (USD Million)

7.6.5 Saudi Arabia

7.6.5.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.6.5.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.6.5.3 Market Size, By Application, 2016-2026 (USD Million)

7.6.6 UAE

7.6.6.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.6.6.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.6.6.3 Market Size, By Application, 2016-2026 (USD Million)

7.6.7 South Africa

7.6.7.1 Market Size, By Product Type, 2016-2026 (USD Million)

7.6.7.2 Market Size, By Terminal Type, 2016-2026 (USD Million)

7.6.7.3 Market Size, By Application, 2016-2026 (USD Million)

Chapter 8 Company Landscape

8.1 Competitive Analysis, 2020

8.2 PHOENIX CONTACT

8.2.1 Company Overview

8.2.2 Financial Analysis

8.2.3 Strategic Positioning

8.2.4 Info Graphic Analysis

8.3 Galco Industrial Electronics

8.3.1 Company Overview

8.3.2 Financial Analysis

8.3.3 Strategic Positioning

8.3.4 Info Graphic Analysis

8.4 wenglor sensoric GmbH

8.4.1 Company Overview

8.4.2 Financial Analysis

8.4.3 Strategic Positioning

8.4.4 Info Graphic Analysis

8.5 Rockwell Automation,Inc.

8.5.1 Company Overview

8.5.2 Financial Analysis

8.5.3 Strategic Positioning

8.5.4 Info Graphic Analysis

8.6 IDEC Corporation

8.6.1 Company Overview

8.6.2 Financial Analysis

8.6.3 Strategic Positioning

8.6.4 Info Graphic Analysis

8.7 Pilz GmbH & Co. KG

8.7.1 Company Overview

8.7.2 Financial Analysis

8.7.3 Strategic Positioning

8.7.4 Info Graphic Analysis

8.8 OMRON Corporation

8.8.1 Company Overview

8.8.2 Financial Analysis

8.8.3 Strategic Positioning

8.8.4 Info Graphic Analysis

8.9 Leuze electronic, Inc.

8.9.1 Company Overview

8.9.2 Financial Analysis

8.9.3 Strategic Positioning

8.9.4 Info Graphic Analysis

8.10 ABB

8.10.1 Company Overview

8.10.2 Financial Analysis

8.10.3 Strategic Positioning

8.10.4 Info Graphic Analysis

8.11 Schneider Electric

8.11.1 Company Overview

8.11.2 Financial Analysis

8.11.3 Strategic Positioning

8.11.4 Info Graphic Analysis

8.12 Other Companies

8.12.1 Company Overview

8.12.2 Financial Analysis

8.12.3 Strategic Positioning

8.12.4 Info Graphic Analysis

The Global Industrial Safety Relay Market has been studied from the year 2019 till 2026. However, the CAGR provided in the report is from the year 2021 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Industrial Safety Relay Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

What is the projected market size of the global industrial safety relay market?

The global industrial safety relay market size is projected to grow from USD 545.99 million in 2021 to USD 690.23 million by 2026, at a CAGR of 4.8% during the forecast period.

Who are the major vendors in the industrial safety relay market?

Key and innovative vendors in the industrial safety relay market include PHOENIX CONTACT, Galco Industrial Electronics, wenglor sensoric GmbH, Rockwell Automation, Inc., IDEC Corporation, Pilz GmbH & Co. KG, OMRON Corporation, Leuze electronic, Inc, ABB, and Schneider Electric.

Which region has the highest market share in the industrial safety relay market?

The Asia Pacific region is estimated to hold the highest market share in the industrial safety relay market.

What is the Covid-19 impact on future industrial safety relay manufacturers?

Globally, Covid-19 impact on the future industrial safety relay market will be quite significant for the manufacturers. The Asia Pacific region would be leading because of the encouragement and adoption of the motto of utilizing self-made products and decreasing import rates. Subsequently, North America is the major revenue-generating market for industrial safety relay due to increasing awareness about worker safety and guaranteed protection. Europe is expected to expand significantly because of the simple framework and no training requirement for operating safety relays.

What are the major drivers in the industrial safety relay market?

The major driving factors for the industrial safety relay market include rising mechanization in a variety of end-use industries; increasing governing bodys legislation requiring the installation of such relays on production sites to improve workplace safety; soaring technological advancements and Industry 4.0 revolution with the application of the Internet of Things (IoT) and Artificial Intelligence.