According to the latest report by IMARC Group, titled “Global Machine Safety Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global machine safety market reached a value of US$ 4.88 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 7.33 Billion by 2027 exhibiting a CAGR of 6.60% during 2022-2027.
Machine safety refers to devices used to ensure the safety of the machinery and operators. It consists of various devices such as emergency stop devices, safety sensors, interlock switches, protective clothing, safety curtain lights, presence sensor devices, safety controllers, relays, and modules. Machine safety reduces the exposure of equipment and machines to damage and lengthen its lifecycle. It also helps in machine guarding, increases efficiency, and decreases waste and costly mistakes. Consequently, machine safety finds extensive application in oil and gas, automotive, mining and metal, healthcare, and other industries.
Base Year: 2021
Forecast Year: 2022-2027
Machine Safety Market Trends and Drivers:
The global machine safety market is primarily driven by the increasing demand for presence-sensing safety devices across organizations. In addition, with the rising number of workplace accidents, multinational companies across the globe are installing enhanced safety systems in machines and equipment setup during factory construction processes while adhering to security standards.
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In addition, governing agencies and international organizations are introducing stringent safety measures for machinery. Nowadays, the advent of Industry 4.0, and the adoption of the Internet of Things (IoT) solutions are also creating occupational safety awareness among workers, thus significantly influencing the market growth.
Moreover, technological advancements in machine safety have resulted in the development of innovative product variants that improve safety, efficiency, and reliability, which is expected to drive the market further in the upcoming years.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Machine Safety Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
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The report has segmented the market on the basis of region, 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
Breakup by End Use Industry:
- Electronics and Semiconductors
- Food and Beverages
- Healthcare and Pharmaceuticals
- Metals and Mining
- Oil and Gas
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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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