Global Machine Safety Market, By Component (Presence-Sensing Safety Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems, Safety Interlock Switches, Emergency Stop Devices, Two-Hand Safety Controls), Implementation (Individual Components, Embedded Components), Application (Assembly, Material Handling, Metal Working, Packaging, Robotics, Others), Industry (Oil & Gas, Chemicals, Aerospace, Semiconductors & Electronics, Food & Beverages, Automotive, Healthcare, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Machine Safety Market
Global Machine Safety Market is set to rise from its initial estimated value of USD 4.41 billion in 2018 to an estimated value of USD 6.89 billion by 2026, registering a CAGR of 5.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing concerns for safety due to the increased number of accidents.
Market Definition: Global Machine Safety Market
Machine safety is the devices or a set of safeguards that are applied to the machinery and their operators so that any hazards can be avoided, and no harm comes to the machine or human life. Examples of these can be emergency buttons that are able to stop the machine’s operations in an emergency.
- Increased cases of accidents in various industries due to the unsafe conditions of machines is expected to drive the market growth
- Increased concerns
- Inability of providing proper safety and protection from secondary hazards is expected to restrain the market growth
- High cost and maintenance adding up to additional costs is also expected to restrain the market growth
Segmentation: Global Machine Safety Market
- By Component
- Presence-Sensing Safety Sensors
- Safety Edges
- Laser Scanners
- Safety Light Curtains
- Safety Mats
- Optoelectronic Devices
- Safety Controllers/Modules/Relays
- Programmable Safety Systems (Safety PLCS)
- Safety Interlock Switches
- Hinge Pin
- Trapped Key
- Emergency Stop Devices
- Push Buttons
- Rope (Cable) Pull Buttons
- Two-Hand Safety Controls
- Presence-Sensing Safety Sensors
- By Implementation
- Individual Components
- Embedded Components
- By Application
- Material Handling
- Metal Working
- By Industry
- Oil & Gas
- Semiconductors & Electronics
- Food & Beverages
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In July 2017, Schneider Electric announced that they had established an agreement for the acquisition of ASCO Power Technologies, with this acquisition aimed at expanding the product portfolio of Schneider Electric.
- In May 2018, Larsen & Toubro (L&T), announced that they signed an agreement for the divesture of its electric and automation department with Schneider Electric. This agreement will make expand Schneider Electric’s portfolio and market share in India, making it one of the major revenue generating regions for the enterprise.
Competitive Analysis: Global Machine Safety Market
Global machine safety market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine safety market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Machine Safety Market
Few of the major competitors currently working in machine safety market are Rockwell Automation Inc., Schneider Electric, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, ABB, Honeywell International Inc., Siemens AG, KEYENCE CORPORATION, IDEC Corporation, SICK AG, Pepperl+Fuchs, Euchner-USA Inc., PHOENIX CONTACT, K.A. Schmersal GmbH & Co. KG, Datalogic S.p.A., Stronghold Safety Engineering, Rockford Systems LLC, Troax Group, and Rite-Hite.
Research Methodology: Global Machine Safety Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved