Safety Switches Market Size, Share, Trends, Forecast 2022-2027

Safety Switches Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Report Format: PDF+Excel | Report ID: SR112023A1287

Buy Now

Market Overview:

The global safety switches market size reached US$ 1.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.0 Billion by 2027, exhibiting a growth rate (CAGR) of 5.2% 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.

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.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global safety switches market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on product type, safety system, switch type and end-user.

Breakup by Product Type:

Contact Safety Switch
- Hinge Switches
- Locking Switches
- Others
Non-Contact Safety Switch
- Inductive Switches
- Magnetic Switches
- RFID Transponder Switches

Breakup by Safety System:

Burner Management Systems (BMS)
Emergency Shutdown (ESD) Systems
Fire and Gas Monitoring Systems
High Integrity Pressure Protection Systems (HIPPS)
Turbomachinery Control (TMC) Systems

Breakup by Switch Type:

Switchboard Safety Switches
Power Point Switches
Portable Safety Switches

Breakup by End-User:

Energy and Power
Oil and Gas
Chemical
Food and Beverage
Metal and Mining
Pharmaceutical
Others

Breakup by Region:

North America
Europe
Asia Pacific
Middle East and Africa
Latin America

Competitive Landscape:

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.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2021
Historical Period	2016-2021
Forecast Period	2022-2027
Units	US$ Billion
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$ 2499 Five User License: US$ 3499 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:

How has the global safety switches market performed so far and how will it perform in the coming years?
What are the key regional markets in the global safety switches industry?
What has been the impact of COVID-19 on the global safety switches market?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the safety system?
What is the breakup of the market based on the switch type?
What is the breakup of the market based on the end-user?
What are the various stages in the value chain of the global safety switches industry?
What are the key driving factors and challenges in the global safety switches industry?
What is the structure of the global safety switches industry and who are the key players?
What is the degree of competition in the global safety switches industry?
What are the profit margins in the global safety switches industry?

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Select Licence Type

Single User License $2499
Five User License $3499
Corporate License $4499

Inquire Before Buying

Speak to an Analyst

Request Brochure

Request Customization

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

Clients Testimonial

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.

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…

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

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.

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.

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.

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.

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.

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.

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.

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.