Machine Safety Market Overview:
According to the latest report by IMARC Group, titled “Machine Safety Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global machine safety market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global machine safety market size reached a value of US$ 4.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 7.33 Billion by 2027 exhibiting a CAGR of 6.60% during 2022-2027.
Machine safety involves using various safeguards and devices to protect machinery and its operators. Some commonly used safety devices are safety interlock switches, emergency stop devices, safety sensors, safety curtain lights, protective clothes, presence sensor devices, safety controllers, relays, and modules. They assist in protecting workers from moving parts, hot surfaces, and sharp edges of machines that might cause serious workplace injuries or accidents. Since they eliminate mechanical hazards, machine safety devices find extensive applications across various industries, such as automotive, manufacturing, healthcare, semiconductor, oil and gas, food and beverage (F&B), and power generation.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Machine Safety Market Trends and Drivers:
The global machine safety market is primarily driven by rising workplace accidents and growing safety awareness in the industrial sector. Moreover, the surging investments in the upgradation of existing machinery to increase production capacity and the rising demand for industrial automation products are accelerating the product adoption rate.
Additionally, governments of various countries and international organizations, including the International Electrotechnical Commission (IEC) and the International Organization for Standardization (ISO), are implementing stringent safety regulations for machinery. In line with this, the increasing need for industries and manufacturing units to comply with these standards is propelling market growth.
Furthermore, several key players are launching innovative product variants to improve machine safety, efficacy, and reliability. Other factors, including the emergence of Industry 4.0, surging adoption of the internet of things (IoT) solutions, rapid industrialization, and growing occupational safety awareness among workers, are also anticipated to drive the market further.
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Global Machine Safety Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ABB Ltd
- Banner Engineering Corp.
- Emerson Electric Co.
- Honeywell International Inc.
- IDEC Corporation
- Keyence Corporation
- Mitsubishi Electric Corporation
- OMRON Corporation
- Pilz GmbH & Co. KG
- Rockwell Automation Inc.
- Schneider Electric SE
- Sick AG
- Siemens AG
The report has segmented the market on the basis of region, implementation, component and end use industry.
Breakup by Implementation:
- Individual Components
- Embedded Components
Breakup by Component:
- Presence Sensing Safety Sensors
- Emergency Stop Devices
- Safety Interlock Switches
- Safety Controller/Modules/Relays
Market Breakup by End Use Industry:
- Electronics and Semiconductors
- Food and Beverages
- Healthcare and Pharmaceuticals
- Metals and Mining
- Oil and Gas
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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