Market Overview:

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 growth rate (CAGR) of 6.60% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Machine safety is an umbrella term for various devices and safeguards employed to protect machinery and its operators. Some of the most commonly used safety devices include emergency stop devices, safety sensors and interlock switches, protective clothing, safety curtain lights, presence sensor devices and safety controllers, relays and modules. They are designed to eliminate mechanical hazards to personnel by safeguarding moving parts, hot surfaces or sharp edges of machines that might cause serious workplace injuries or accidents. As a result, machine safety devices find extensive applications across various industries, including food and beverage (F&B), automotive, manufacturing, healthcare, electronics, semiconductor, power generation, and oil and gas.

Machine Safety Market Trends:

The rising emphasis on safety in the industrial sector and the increasing number of workplace accidents represent the primary factors driving the market growth. Additionally, governments of various countries and international organizations, such as the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC), are introducing stringent safety standards for machinery. This has led to an increased need for industries and manufacturing facilities to comply with these safety standards and regulations, which in turn is propelling the market growth. Besides this, the growing investments in the upgradation of existing machinery to enhance production capacity and the escalating demand for industrial automation products are accelerating the adoption of machine safety. Furthermore, the leading manufacturers are developing innovative product variants to improve machine safety, efficiency and reliability. Moreover, the advent of Industry 4.0, growing awareness regarding occupational safety among workers, widespread adoption of IoT solutions, rapid industrialization, and extensive research and development (R&D) activities are some of the other factors creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global machine safety market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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
• Others
   

Breakup by End Use Industry:

• Automotive
• Electronics and Semiconductors
• Food and Beverages
• Healthcare and Pharmaceuticals
• Metals and Mining
• Oil and Gas
• Others
   

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
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Key Questions Answered in This Report:

• How has the global machine safety market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the global machine safety market?
• What are the key regional markets?
• What is the breakup of the market based on the implementation?
• What is the breakup of the market based on the component?
• What is the breakup of the market based on the end use industry?
• What are the various stages in the value chain of the industry?
• What are the key driving factors and challenges in the industry?
• What is the structure of the global machine safety market and who are the key players?
• What is the degree of competition in the industry?