Market Highlights:
Machine Safety refers to the devices used to safeguard workers against the hazards around machinery and equipment. There are numerous potential hazards around machinery and equipment in an industry, such as cutting edges, chains, gears, revolving shafts, and rotating blades and levers among others. These hazards can result in injuries & accidents, sickness and even death. Many of these accidents are caused by human error and hence, safeguarding a worker’s life is at utmost priority in any industry or manufacturing unit.
Machine safety devices are designed to limit the risk to workers for accident or injury at certain hazardous points. Improvements in global safety standards and technologies have made machine safety a powerful tool to optimize production. These safety technologies help keep workers safe and reduce unscheduled downtime and mean time to repair (MTTR), and also help to streamline lockout and tag-out procedures.
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Major Key Players
- Honeywell (US),
- Rockwell (US),
- SICK (Germany),
- Schneider (France),
- ABB (Switzerland),
- Mitsubishi Electric (Japan),
- Keyence (Japan),
- Pilz (Germany),
- Banner Engineering (US),
- Pepperl + Fuchs (Germany),
- Euchner (Germany),
- Phoenix Contact (Germany),
- Datalogic (Italy),
- IDEC Corporation (Japan),
- Omron (Japan).
According to MRFR, The global Machine Safety Market is expected to reach approximately USD 6.48 billion by 2023 growing at a 6.88% CAGR over the forecast period 2018–2023
Competitive Landscape
The development of Industrial Revolution 4.0 is considered as a potential growth opportunity for the market. Besides, the availability of a range of safety devices and components offering futuristic features at competitive prices is fostering the market growth. Simultaneously, the stringent government policies & regulations towards machine safety encourage the market growth.
On the other hand, factors such as the lack of technical incompetence in workers along with the initial investment associated with the implementation of safety systems are hampering the market growth. However, well-spread awareness about the importance of the machine safety and safety measures is estimated to support the market growth over the assessment period.
Segmentation:
The analysis has been segmented into five key dynamics for the better scope: –
By Components: Presence-Sensing Safety Sensors, Programmable Safety Systems, Safety Controllers/ Modules/Relays, Emergency Stop Devices, Safety Interlock Switches, And Two-Hand Safety Controls among others.
By Implementation : Individual and Embedded Components.
By Application: Assembly, Robotics, Material Handling, Packaging, and Metalworking among others.
By Industry: Oil & Gas, Chemicals, Aerospace, Food & Beverages, Healthcare, Semiconductor & Electronics, and Automotive, among others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
Regional Analysis
Globally, the European region accounts for the largest market for machine safety being a leading player in the automation. Factors such as the burgeoning manufacturing sector drive the market growth in the region. Implementation of the legislation governing the machine safety requirements in Europe such as Machinery Directive 2006/45/EU support the market growth. Machinery Directive 2006/45/EUis a mandatory directive, which ensures the protection of machines and workers in various organizations.
The North American machine safety market is another lucrative and substantially large market in terms of both, size and volume. Factors such as the growing uptake of advanced technologies and the growing demand for safety features drive the growth of the market in the region. Well-established Industries in this region create opportunities for the market to grow colossally during the review period.The US among other North American countries accounts for the dominating market in the region. Furthermore, the presence of prominent players drives the growth of the machine safety market in the region.
The Asia Pacific region is emerging as one of the promising markets for machine safety due to continuous growth in technologies and the presence of several manufacturers. China is one of the significant markets in the region. Increasing awareness about technological developments is a key driving force driving the demand in the APAC market.
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Target Audience
- Designers and manufacturers of machine safety systems
- Machine safety software providers
- Research organizations, associations, and consulting companies
- Technology consultants
- System integrators of machine safety systems
- Material handling and automation organizations
- Machine safety component providers
- System integrators
List of Tables
Table 1 Machine Safety Market: By Region, 2018-2023
Table 2 North America Machine Safety Market: By Country, 2018-2023
Table 3 Europe Machine Safety Market: By Country, 2018-2023
Table 4 Asia Pacific Machine Safety Market: By Country, 2018-2023
Table 5 The Middle East & Africa Machine Safety Market: By Country, 2018-2023
Continued………
LIST OF FIGURES
FIGURE 1 Global Machine Safety Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global Machine Safety Market
FIGURE 4 Value Chain of Global Machine Safety Market
FIGURE 5 Share of Machine Safety Market in 2018, by Country (in %)
Continued………
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