Global Machine Safety Market Size, Trends & Analysis - Forecasts to 2026 By Implementation (Individual Components, and Embedded components); By Component (Presence Sensing Safety Sensors [Safety Mats, Safety Light Curtains, Laser Scanners, and Safety Edges, and Other Devices (single & multi-beam devices)], Safety Interlock Switches [Trapped Key Interlock Switches, Tongue Interlock Switches, Non-contact Interlock Switches, Limit Switches, Hinge Pin, and Electromechanical], Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls[Rope Pull Button, and Push Button], Two-hand Safety Controls); By System (Robotics, Packaging, Metal Working, Material Handling, Assembly, and Others [welding and shielding of heavy machinery]); By Industry (Metals & Mining, Healthcare and Pharmaceuticals, Semiconductor & Electronics, Automotive, Aerospace & Defense, Food & Beverages, Chemicals, Energy & Power, Oil & Gas, and Others [paper & pulp, water & wastewater, and textiles]); By Region (North America, Europe, Asia Pacific, MEA, and CSA); End-User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Machine Safety Market Insights
Machine safety is defined as the major precaution taken to ensure the safety and health of both the machine and the individual using the machinery. Various types of machine safety are implemented as sensing sensor devices, safety interlock switches, emergency stop devices, and safety controllers among others. These items are uniquely intended to screen, control, and assess the given exhibition and condition to guarantee the smooth working of the machine. Machine wellbeing is being utilized in different enterprises, for example, oil and gas, medical care, car, and aviation.
Increasing strict government regulations and labor safety policies and accident-free environment are triggering the demand for machine safety products. Increasing demand for Presence Sensing Devices (PSD) will help propel market growth. Also rising adoption and implementation of hazardous machines and equipment in various industries are creating lucrative opportunities for the machine safety market.
Machine Safety Market: By Implementation
Based on implementation parameters the machine safety market can be studied as individual components, and embedded components. The individual components segment is expected to dominate the market as they are compatible with one another and can be easily connected and configure. Also, individual components are easy to install therefore various organizations demand aftermarket installation of individual components safety hence end up building the segment market as compared to embedded components.
Machine Safety Market: By Component
Two-hand safety controls, safety interlock switches, presence sensing safety sensors, safety controllers/modules/relays, programmable safety systems, and emergency stop controls, are the segmentations in this section. The presence of sensing safety sensors is the highest growing market of machine safety products due to increasing demand for security requirements for protecting workers and the production unit from any accidents mandated by the stringent industrial safety regulations based on the national and international standards. Also, the rise in the industrial revolution, growing safety lights need in industries and rising accident incidents are building the market for the segment.
Machine Safety Market: By System
The system of machine safety products is bifurcated into robotics, packaging, metalworking, material handling, assembly, and others. Robotics to contribute the highest in the market. Robotic is used to perform various functions in machine safety such as controlling, limiting, and positioning.
Machine Safety Market: By Industry
Metals & mining, healthcare and pharmaceuticals, semiconductor & electronics, automotive, aerospace & defense, food & beverages, chemicals, energy & power, oil & gas, and others are the industries involved in the machine safety market. The energy and power segment will grow rapidly in the market.
Machine Safety Market: By Region
Asia Pacific is estimated to register the highest CAGR of machine safety during the aforementioned period. The huge volume of assembling ventures and the appropriation of huge size machines in these enterprises are building the interest for machine security hardware in the locale. Developing industrialization in the locale and the presence of created nations, for example, India, China, and Japan are producing a huge client base for these items by receiving a few recently created apparatus.
Company Market Share and Competitor Analysis
The key players operating in the market include Keyence Corporation, Mitsubishi Electric Corporation, Sick AG, Pilz GmbH & Co. KG, Balluff GmbH, and Banner Engineering Corp., ABB Ltd., General Electric Co., Honeywell International Inc., Emerson Electric Co., Schneider Electric SE, Siemens AG, Rockwell Automation, Inc., Yokogawa Electric Corp., and Omron Corporation among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In February 2020 Rockwell Automation recently launched the E100 electronic motor which helps to protect the damage of motor and downtime.
Check the Press Release on Global Machine Safety Market Report
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The Global Machine Safety Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 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 Machine Safety 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 companies and customer analytics.
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