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The global safety switches market reached a value of US$ 1.36 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026. 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.
A safety switch is a device that instantly turns off the power supply if an electrical fault is detected. This reduces the risk of electricity-related fires, electric shock, injury and death by cutting off the electrical supply automatically. As a result, these switches are extensively utilized across various industry verticals including pharmaceutical, oil and gas, and aerospace. Moreover, numerous organizations are using safety switches in their workplace in order to prevent work-related hazards, safeguard workforce and meet the required corporate safety standards.
The increasing utilization of safety switches in industries such as food and beverages, mining and automotive is contributing to the growth of the market. Moreover, the introduction of energy-efficient and environment-friendly systems is also providing thrust to the sales of these switches. Additionaly, governments across both developed and developing countries are implementing safety norms which are also creating a positive impact for the market. For instance, the installation of safety switches has been made mandatory for commercial, industrial and residential verticals across various countries to ensure equipment and personnel safety. Furthermore, the growth of various end-use industries, such as oil & gas, healthcare, chemical, food & beverage, etc. is also creating a positive impact on the demand of safety switches. Some of the other major factors driving the market include rising adoption of automation in hazardous industrial areas, increasing demand for non-contact door switches, rising urbanization rates, technological advancements and upgrades, etc.
IMARC Group provides an analysis of the key trends in each sub-segment of the global safety switches market, along with forecasts at the global and regional level from 2021-2026. Our report has categorized the market based on product type, safety system, switch type and end-user.
Breakup by Product Type
Breakup by Safety System:
Breakup by Switch Type:
Breakup by End-User:
Breakup by Region:
The report has also analysed the competitive landscape of the market with some of the key players being ABB, General Electric, Rockwell, Schneider Electric, Siemens, Eaton, Honeywell, Omron, Pilz, SICK, etc.
|Base Year of the Analysis||2020|
|Segment Coverage||Product Type, Safety System, Switch Type, End-User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||ABB, General Electric, Rockwell, Schneider Electric, Siemens, Eaton, Honeywell, Omron, Pilz and SICK|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
Key Questions Answered in This Report:
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