Global Safety Switches Market to Reach US$ 2.0 Billion by 2027, Stimulated by Launch of High-Performance Products

February 26, 2020

According to the latest report by IMARC Group, titled “Safety Switches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global safety switches market reached a value of US$ 1.5 Billion in 2021. Safety switches, also known as disconnect or load break switches, refer to devices whose primary function is to disconnect the source of electricity when an electrical fault is detected. These switches detect the change in the electrical current and turn the power off in about 0.3 seconds. Nowadays, safety switches are increasingly being used to provide protection against overcurrent, circuit overloads, short-circuiting and heat generated damage.

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 Safety Switches Market Trends:

Safety switches minimize the risk of electricity-related fires, electric shock, injury and death. They also protect personnel by providing physical interlocking of guard doors and equipment. On account of these advantages, they are utilized in numerous industries, ranging from automotive, food and pulp and paper to robotics and pharmaceutical. Apart from this, governments of various nations are implementing regulations for equipment and personnel safety. Due to this, the installation of safety switches has become mandatory in commercial, industrial and residential verticals across various countries. Furthermore, the arrival of energy-efficient and environment-friendly systems have also boosted the sales of these switches worldwide. Moreover, the leading companies are focusing on producing safety switches with the latest technology. For instance, Siemens AG, a German multinational conglomerate, has introduced non-metallic and stainless-steel switches that offer corrosion-resistance to assure trouble-free performance in the most severe conditions. Owing to these factors, the market value is projected to reach US$ 2.0 Billion by 2027, expanding at a CAGR of 5.2% during the forecast period (2022-2027).

Market Summary:

  • Based on the product type, the market has been bifurcated into contact safety, which includes hinge, locking and other switches, and non-contact safety switches, including inductive, magnetic and RFID transponder switches.
  • On the basis of the safety system, the market has been classified into burner management systems (BMS), emergency shutdown (ESD) systems, fire and gas monitoring systems, high integrity pressure protection (HIPPS) systems and turbomachinery control (TMC) systems.
  • The market has been categorized based on the switch type into switchboard safety, power point and portable safety switches.
  • On the basis of the end-user, the market has been divided into oil and gas, energy and power, chemical, food and beverage, metal and mining, pharmaceutical and others.
  • Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has also been examined, with some of the key players being ABB Group, General Electric Company, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Eaton Corporation Inc., Honeywell International Inc., Omron Corporation, Pilz GmbH & Co. KG and Sick AG.


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group

USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal

Global Safety Switches Market to Reach US$ 2.0 Billion by 2027, Stimulated by Launch of High-Performance Products
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More