The global and Chinese safety connection devices market is estimated to grow at steady CAGR over the forecast period (2013 to 2023), according to a report available on Radiant Insights, Inc. growing concern regarding personal safety while working on machines is anticipated to propel demand for safety connection devices. These devices are expected to offer safe and secure connection between various machineries to enhance personal safety. Rising demand for flexible and reliable connections between safety interlock switches, cable pull switches, e-stops, and safety relays can foster market growth. Increasing demand for automation in various sectors like healthcare and automotive can impel consumption of safety connection devices. This, in turn can augment growth of market over the forecast period. Stringent government regulations towards safety requirements are also likely to influence product demand in near future.
The report “Global and Chinese Safety Connection Devices Industry, 2018 Market Research Report” is available now at https://www.radiantinsights.com/research/global-and-chinese-safety-connection-devices-industry-2018
Moreover, rising adoption of miniaturization among manufacturing companies and introduction of variable designs can impel market growth over the forecast period (2013 to 2023). Lack of awareness among consumers and increasing product costs can restrict market expansion in the forthcoming years. To cater to rising demand for safety connection devices, most companies are likely to adopt R&D activities to develop innovative products. For instance, Murrelektronik recently launched heavy-duty connectors to offer secure transmission of energy, data, and signals. They can protect interfaces from coolants and lubricants, water, high mechanical loads, and dirt. In addition, they are expected to be available in four different types and seven different sizes each. Moreover, consumers can lock these connectors in three different ways. The safety connection devices market can be segmented on the basis of type, application, and region.
Based on type, the market can be categorized into connectors, adaptors, gateways, cables & cords, relays, distribution box, and T-couplers. Gateways segment is predicted to dominate the market and account for largest market share during the forecast period. Numerous benefits like easy installation, ground protection, duplicate address detection, and monitoring can propel demand. On the contrary, relays segment is expected to witness significant growth over the forecast period owing to its power and use in multiple safety applications. Such applications can include door switches, emergency stop buttons, light guards, and controlling the output of machines.
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Based on application, the safety connection devices market can be classified into manufacturing, automotive, energy & power, and healthcare. Automotive segment is predicted to contribute maximum to growth of market during the forecast period. Rising demand for automobiles is likely to push manufacturing companies to adopt automation and increase their productivity. This, in turn can augment demand for centralized controllers to interface autonomous machines in automobile manufacturing units. Deployment of safety connection devices in automotive sector can offer flawless communication between controllers and other devices. Thus, the automotive segment is predicted to be the fastest growing consumer of safety connection devices over the forecast period.
Regional segmentation of the safety connection devices market includes North America, Europe, Japan, China, Korea, and Taiwan. North America is estimated to account for largest market share during the forecast period. Rising automotive and healthcare sector can fuel regional growth. China is predicted to grow at a significant pace during the forecast period owing to rising adoption of automation in various sectors. Rising adoption of connected devices attributed to increasing dependency on internet of things (IoT) devices among consumers can boost regional growth. Some of the leading companies operating in the safety connection devices market are Honeywell International Inc.; Schneider Electric; Siemens AG; Solomon Technology Corp.; and Allend-bradlley.
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