Machine Safety Market 2018 – Global Forecast to 2023, research report added by “Market Research Future”, Machine Safety Market shows rapid growth at 6.88% CAGR for the forecast period of 2018 to 2023. Global Machine Safety Market is segmented by Components (Safety Sensors, Controllers, Others), Implementation (Individual and Embedded Components), Application (Assembly, Robotics, Others), Industry (Oil & Gas, Chemicals, Others) — Forecast till 2023
Today we live in a world of automation where most of the manual work is getting automated i.e., industrial automation, and business automation. A number of machines are deployed to make the automation process work systematically. Machines have moving and rotating equipment such as rotating gears, chains, sprockets, belts, and pulleys. Sometimes, these parts can pose grave hazards and cause damage to the machines as well as the workers around. To safeguard the machines as well as workers in an industrial setting, machine safety is implemented in organizations. Accidents at workplace can often be fatal and result in loss of work hours which can hamper the overall production, therefore, the awareness of safety and health among employees is imperative. In this regard, the Government has introduced mandatory safety standards which are driving the growth of machine safety market as all organizations have to implement these regulations and deploy safety system for safeguarding their environment.
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The increasing number of accidents at workplace, along with the rising emphasis on proactive industrial safety is driving the growth of the machine safety market. Assembling is a fast and continuous process involving the movement of machinery and hazardous equipment that can cause harm to workers. Therefore, prevention to these accidents is the primary focus of organizations as there has been increasing attention on machine safety. The implementation of machine safety systems in these assembly lines act as a shield, covering the hazardous areas of a machine which is used to prevent any damage to the human body. The increasing adoption and improvements in safety devices such as safety curtains with the integration of light and digital indicators, along with the development of Industrial Revolution 4.0 can be seen as a potential growth opportunity of this market. However, the added cost associated with machine safety technology, and few instances of system failure in protecting machines and workers, is hampering the growth of the market.
Major Key Players
- Rockwell (US),
- Honeywell (US),
- SICK (Germany),
- ABB (Switzerland),
- Schneider (France),
- Mitsubishi Electric (Japan),
- Pilz (Germany),
- Keyence (Japan),
- Banner Engineering (US),
- Omron (Japan), and IDEC Corporation (Japan)
Other global players in this market are Pepperl + Fuchs (Germany), Phoenix Contact (Germany), Euchner (Germany), and Datalogic (Italy). The prominent players keep innovating and investing in research and development to offer cost-effective products. Additionally, merger and acquisitions among the various players are changing the market structure.
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
The machine safety market is segmented based on component, implementation, application, and industry. These segments are sub-segmented into the following:
By component, this market is segmented into presence-sensing safety sensors, programmable safety systems, safety controllers/ modules/relays, emergency stop devices, safety interlock switches, and two-hand safety controls
By implementation, it is segmented into individual components and embedded components
By application, it is segmented into assembly, robotics, material handling, packaging, metalworking, and others
By industry, the market is segmented into oil & gas, chemicals, aerospace, food & beverages, healthcare, semiconductor & electronics, automotive, and others
The regional analysis of machine safety market has been done for North America, Europe, Asia Pacific and rest of the world. Europe is predicted to dominate this market during the forecast period with the highest market share as it is a leading player in automation. Machinery Directive 2006/45/EU is the legislation governing the machine safety requirements in Europe. It benefits harmonization with a combination of safety and health requirements. This is a mandatory directive, which ensures the protection of machines and workers in various organizations. North America is the second largest market with the presence of prominent players like Rockwell (US), Honeywell (US), and Banner Engineering (US), active in the machine safety market. Asia Pacific is also predicted to grow at the highest rate during the forecast period owing to the developing economies like China, Japan, and India owing to advances in technology that are easily adaptable.
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- 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
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