The global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.5 Billion by 2028, exhibiting a CAGR of 6.29% during 2022-2028.
Machine safety is an umbrella term for various devices and safeguards employed to protect machinery and its operators. Some of the most commonly used safety devices include emergency stop devices, safety sensors and interlock switches, protective clothing, safety curtain lights, presence sensor devices and safety controllers, relays and modules. They are designed to eliminate mechanical hazards to personnel by safeguarding moving parts, hot surfaces or sharp edges of machines that might cause serious workplace injuries or accidents. As a result, machine safety devices find extensive applications across various industries, including food and beverage (F&B), automotive, manufacturing, healthcare, electronics, semiconductor, power generation, and oil and gas.
2. What is the expected growth rate of the global machine safety market during 2023-2028?
3. What are the key factors driving the global machine safety market?
4. What has been the impact of COVID-19 on the global machine safety market?
5. What is the breakup of the global machine safety market based on the implementation?
6. What is the breakup of the global machine safety market based on the component?
7. What are the key regions in the global machine safety market?
8. Who are the key players/companies in the global machine safety market?
Machine safety is an umbrella term for various devices and safeguards employed to protect machinery and its operators. Some of the most commonly used safety devices include emergency stop devices, safety sensors and interlock switches, protective clothing, safety curtain lights, presence sensor devices and safety controllers, relays and modules. They are designed to eliminate mechanical hazards to personnel by safeguarding moving parts, hot surfaces or sharp edges of machines that might cause serious workplace injuries or accidents. As a result, machine safety devices find extensive applications across various industries, including food and beverage (F&B), automotive, manufacturing, healthcare, electronics, semiconductor, power generation, and oil and gas.
Machine Safety Market Trends:
The rising emphasis on safety in the industrial sector and the increasing number of workplace accidents represent the primary factors driving the market growth. Additionally, governments of various countries and international organizations, such as the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), are introducing stringent safety standards for machinery. This has led to an increased need for industries and manufacturing facilities to comply with these safety standards and regulations, which in turn is propelling the market growth. Besides this, the growing investments in the upgradation of existing machinery to enhance production capacity and the escalating demand for industrial automation products are accelerating the adoption of machine safety. Furthermore, the leading manufacturers are developing innovative product variants to improve machine safety, efficiency and reliability. Moreover, the advent of Industry 4.0, growing awareness regarding occupational safety among workers, widespread adoption of IoT solutions, rapid industrialization, and extensive research and development (R&D) activities are some of the other factors creating a positive market outlook.Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global machine safety market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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
- Others
Breakup by End Use Industry:
- Automotive
- Electronics and Semiconductors
- Food and Beverages
- Healthcare and Pharmaceuticals
- Metals and Mining
- Oil and Gas
- Others
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
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Siemens AG.Key Questions Answered in This Report
1. What was the size of the global machine safety market in 2022?2. What is the expected growth rate of the global machine safety market during 2023-2028?
3. What are the key factors driving the global machine safety market?
4. What has been the impact of COVID-19 on the global machine safety market?
5. What is the breakup of the global machine safety market based on the implementation?
6. What is the breakup of the global machine safety market based on the component?
7. What are the key regions in the global machine safety market?
8. Who are the key players/companies in the global machine safety market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Machine Safety Market
6 Market Breakup by Implementation
7 Market Breakup by Component
8 Market Breakup by End Use Industry
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 143 |
| Published | March 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 5.2 Billion |
| Forecasted Market Value ( USD | $ 7.5 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
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