Machine Safety Market is valued at USD 4.54 Billion in 2018 and expected to reach USD 6.94 Billion by 2025
Machine Safety Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2019-2025–Increasing Incidents of Industrial Accidents is the Key Driving Factor for the Global Machine Safety Market.
Machine Safety Market is valued at USD 4.54 Billion in 2018 and expected to reach USD 6.94 Billion by 2025 with a CAGR of 6.23% over the forecast period.
Machine safety equipments are the devices which are used to safeguard workers against the hazards and accidents around machinery and equipment. There are many potential hazards around machinery and equipment in an industry, such as cutting edges, chains, gears, revolving shafts, and rotating blades and levers etc. These hazards may result in injuries & accidents, sickness and even death. Many of these accidents are caused by human error and hence, safeguarding methods have to be implemented in industrial sectors. Machine safety devices are designed to minimize the risk to workers for accident or injury at hazardous points. Due to global safety standards and improving safety technologies the workers are more confident to work without worry which in turn optimizes production. These safety technologies help in keeping workers safe and in reducing unscheduled downtime and mean time to repair (MTTR), and also help to streamline lockout and tag-out procedures.
Machine safety market is segmented on the basis of component, implementation, application and region. Based on component the market is divided in to safety sensors, safety PLCs, safety modules, E-stop devices and two hand safety control. By implementation the machine safety market is classified in to individual component and embedded component. Based on application the market is segmented in to assembly, robotics, packaging, material handling, and metal working. Based on end-user the market is classified in to oil & gas, chemicals, aerospace, semiconductor & electronics, food & beverages, and automotive and healthcare.
The regions covered in this machine safety market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Machine Safety market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Key Players for Machine Safety Market Reports–
Key players of the Machine Safety marketare Rockwell Automation Inc., Schneider Electric SE, SICK, and Mitsubishi Electric Corporation, ABB, Honeywell, KA Schmersal, Omron,Honeywell International Inc, PILZ GmbH & Co. KG, Phoenix Contact GmbH & Co. KG, Siemens AG and others
Increasing incidents of industrial accidents is key growth factor driving the growth of Global Machine Safety Market.
Increasing use of heavy and complicated machineries in various sectors such as food industry, healthcare, oil & gas, automotive etc. in developed countries leads to increasing industrial accidents which propel the demand for machine safety. Strict increasing government regulations on industries for providing occupational health to the workers force the companies to provide safety equipment at workplace which is further anticipated to drive the market growth. Developing economies in APEC such as India, China and Indonesia are having rapid urbanization and rising consumer disposable incomes, due to which the demand of emergency stopcontrols, pressure sensing safety sensors and other machine safety devices have increased and thus the market is expected to grow in various industries. Even if with improvement of machine safety, still it can not protect workers from secondary hazards that are created due to machinery works and additional costs due to implementation of safety measures are the restraining factor for this market. Safety light curtains and safety laser scanners are some of the new technologies which will create opportunities for this market.
Europe is expected to dominate the Machine Safety Market
The European region holds the largest market share in machine safety market due to presence of leading automation players as well as strict government regulation. Empowerment of the legislations such as Machinery Directive 2006/45/EU supports the market growth. It is a mandatory directive which ensures safety of workers and protection of machines. In North America, factors such as growing adoption of advanced technologies and growing demand of safety features are also expected to supplement the growth of machine safety market. In addition, presence of major industrial players in this region is also expected to foster the market growth in this region. As for APAC, due to rapid economical development many big industries have developed rapidly in this region in last decade, which brings the concern of safety measures and large number of safety equipment are being supplied to the industries which is anticipated to foster the growth of machine safety market in this region.
Key Benefits for Global Machine Safety Market Reports –
- Global market report covers in depth historical and forecast analysis.
- Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
- Global market report helps to identify opportunities in market place.
- Global market report covers extensive analysis of emerging trends and competitive landscape.
Machine Safety Market Segmentation –
- Safety Sensors
- Safety PLCs
- Safety Modules
- E-Stop Devices
- Two Hand Safety Control
- Individual Component
- Embedded Component
- Material Handling
- Metal Working
- Oil & Gas
- Semiconductor & Electronics
- Food & Beverages
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- Middle East and Africa
- Rest of Middle East and Africa
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