Global Machine Safety market size was valued at US$ XXX Bn in 2019 and is expected to reach US$ XXX Bn by 2027 to exhibit a CAGR of XXX % during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global machine safety market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by Component, price, financial position, Component portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global machine safety market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Machine guarding is very essential for machine safety because it protects employees from dangers such as rotating parts, flying chips, and sparks with guards such as barrier guards, light curtains and two-hand operating devices. Safeguards are essential to protect workers from injury.
Growing demand for presence-sensing safety devices, an increasing number of accidents in industries and mandatory safety standards and government policies are driving the growth of the machine safety market.
Failure to protect workers and machines from secondary threats and additional costs related to machine safety systems is hampering the growth of the machine safety market. Growing complexity in safety-based software and hardware designs and failure to access all machinery-related threats are the major challenges to the growth of the market. Development of new and enhanced safety light curtains with digital indicators and evolution of industrial revolution 4.0 is creating several opportunities in the machine safety market.
Presence-sensing safety sensors segment is expected to hold the largest market share during the forecast period because of these sensors used in safety systems which are developed and designed to ensure a safe output based on sense. Also, safety sensors play a vital role in implementing machine safety solutions in various industrial applications. Presence-sensing safety devices are suitable for applications like robotic welding, stamping, hydraulic presses, filter presses, or packaging equipment. These safety sensors are often chosen over physical guards as these devices permit easier access for loading parts or for routine maintenance, thus increasing productivity.
Programmable Safety Systems play an important role in ensuring safety of equipment and their operators also PLC systems help in the implementation of safety standards and safety associated programming for automated machines.
Robotics application segment is anticipated to hold the largest market share because safety is important in the robotics industry. Industrial robots are programmable automated machines that are used for moving parts, components, materials, and tools. Machine safety purposes such as controlling, limiting, and positioning are a must for automated robotic processes. Machine safety products sense emergency conditions and stop robots from making and damaging products or harming operator. Hence, the market for robotics applications is projected to grow at a significant rate during the forecast period. The food & beverages industry is projected to grow at a high rate in forecast period owing to an integrated approach of safety and automation, creating plants more flexible, safe, and profitable.
The automotive industry held the largest share of the machine safety market in 2017. The increasing demand for automobiles owing to the rise in population with purchasing power worldwide and the possibility of easy loans is driving the progress of the market for the automotive industry. The growth of environmentally friendly electric vehicles has led to the formation of a new segment of automobiles. The increasing adoption of machine safety systems, such as safety light curtains, safety switches, emergency stop devices, and safety sensors, for assembly, presses, and material handling applications in the automotive industry is driving the development of the machine safety market for the automotive industry.
Europe is expected to hold the largest size of the machine safety market during the forecast period owing to the existence of automotive manufacturers and growing automation in the automotive industry in Europe support the progress of the machine safety market in this region. Countries in this region are continuously focusing on automating distinct and process industries, along with preserving high safety standards ensuring the safety of workers in these industries. The machine safety market in APAC is estimated to grow at the highest during the forecast period owing to rapid industrialization in developing countries such as China and India.
Scope of Global Machine Safety market
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
Global Machine Safety market, by Implementation
• Individual Components
• Embedded Components
Global Machine Safety market, by Application
• Material Handling
• Metal Working
Global Machine Safety market, by Industry
• Oil & Gas
• Semiconductor & Electronics
• Food & Beverages
Global Machine Safety market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Machine Safety market
• Schneider Electric
• Mitsubishi Electric
• Keyence Corporation
• IDEC Corporation
• Sick AG
• Banner Engineering
• Phoenix Contact
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