Global Machine Safety Market is Anticipated to grow at a Significant Pace i.e., USD 6.6 Billion during the Forecast Period 2021-2027

Published Date: Jul, 2021

The global machine safety market is expected to witness a CAGR of 6.2% during the forecast period. The machine's safety system reduces the possibility of work-related injuries, thus, increasing the efficiency of machine operators. Strict machine safety mandates, high requirements for reliable safety systems to ensure personnel and asset protection are the factors that drive the demand for the machine safety market. Moreover, the increase in workplace accidents due to unsafe machine conditions and increase in demand for automobiles owing to an increase in population and purchasing power are boosting the growth of the machine safety market. Developed countries such as Germany and U.S. are the key players in the machine safety market and the fast-growing economies such as China, India is projected to play a significant role in the market in the future. Manufacturers have realized the importance of safety in establishing a good public image, which can give them a competitive advantage, so they have opted for a machine safety system.

The Covid-19 outburst has disrupted the supply chain across various industries worldwide. But pharmaceuticals and food & beverage are the two industries that manufacture essential goods and their manufacturing facilities cannot be closed. So, there is a demand for machine safety solutions in these industries.

Browse 63 market data Tables and 35 Figures spread through 225 Pages and in-depth TOC on " Machine Safety Market by Component (Presence-Sensing Safety Sensors, Safety Interlock Switches, Safety Controllers/Modules/Relays, Programmable Safety Systems (Safety PLCs), Emergency Stop controls, Two-Hand safety Controls, and Others), by Implementation (Individual Components and Embedded Components), by Application (Assembly, Material Handling, Metalworking, Packaging, and Robotics), and by Industry (Oil & Gas, Energy & Power, Chemicals, Food & Beverages, Aerospace & Defense, Automotive, Semiconductor & Electronics, Healthcare and Pharmaceuticals, Metals & Mining, and Others), and Region - Global Forecast to 2027"

Oil and Gas Industry to Hold a Significant Share during the forecast period 2021-2027.

The oil & gas is expected to have a high CAGR due to the rising demand for industrial automation products. It can upgrade existing machines, thus creating a demand for new machine safety devices that can meet the requirement of the updated equipment. Moreover, safety factors can also affect the demand for machine safety equipment, especially in the oil and gas industry. For example, in a country like Mexico, pipelines are often vulnerable to insurgency attacks and theft, so there is a growing demand for automated and robust emergency stop systems and equipment to support remote operations.

Global Machine Safety Market Segmentation Analysis

Segment

Categorization

Leading Category

Component

Presence-Sensing Safety Sensors, Safety Interlock Switches, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls, and Others

Presence-Sensing Safety Sensors (Largest)

Implementation

Individual Components and Embedded Components

Embedded Components

(Highest)

Application

Assembly, Material Handling, Metalworking, Packaging, Robotics

Robotics (Largest)

Industry

Oil & Gas, Energy & Power, Chemicals, Food & Beverages, Aerospace & Defense, Automotive, Semiconductor & Electronics, Healthcare and Pharmaceuticals, Metals & Mining, and Others

Food & Beverages (Highest)

 

Region

North America, Europe, Asia-Pacific, and Rest of the World

Europe (Largest)

Asia-Pacific (Highest)

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“The machine safety market in Europe is expected to witness the largest market share over the projected period.”

Europe is a leading producer of products related to machine safety. European legislation governs the machine safety requirements in Europe which focus on harmonization with a combination of safety and health requirements. It is a mandatory directive that ensures the protection of machines and workers in the organization. The growing automation in the automotive industry is focused on machine safety and worker safety. Thus, will drive the machine safety market in the region.

Some of the major players in the global machine safety market include ABB, Honeywell International Inc., Schneider Electric, Rockwell Automation, Inc., Siemens, Yokogawa Electric Corporation, OMRON Corporation, KEYENCE CORPORATION, Mitsubishi Electric Corporation, and SICK AG.

Scope of the Report

Report Metric

Details

Market Size Available for the Years in the Study

2015–2027

Historical Period

2015–2020

Base Year

2020

Forecast Period

2021–2027

Segments Covered in the Study

Component, Implementation, Application, Industry, and Region

Geographies Covered in the Study

North America (U.S., Canada, Mexico), Europe (Germany, U.K., France, Italy, Spain, Russia), Asia-Pacific (China, Japan, India, South Korea), and Rest of the World (Brazil, Saudi Arabia, South Africa, U.A.E.)

Companies Covered in the Study

ABB, Honeywell International Inc., Schneider Electric, Rockwell Automation, Inc., Siemens, Yokogawa Electric Corporation, OMRON Corporation, KEYENCE CORPORATION, Mitsubishi Electric Corporation, and SICK AG.

Global Machine Safety Market Coverage

Component Insight and Forecast 2015-2027

  • Presence-Sensing Safety Sensors
  • Safety Interlock Switches
  • Safety Controllers/Modules/Relays
  • Programmable Safety Systems
  • Emergency Stop Controls
  • Two-Hand Safety Controls
  • Others

Implementation Insight and Forecast 2015-2027

  • Individual Components
  • Embedded Components

Application Insight and Forecast 2015-2027

  • Assembly
  • Material Handling
  • Metalworking
  • Packaging
  • Robotics

Industry Insight and Forecast 2015-2027

  • Oil & Gas
  • Energy & Power
  • Chemicals
  • Food & Beverages
  • Aerospace & Defense
  • Automotive
  • Semiconductor & Electronics
  • Healthcare and Pharmaceuticals
  • Metals & Mining
  • Others

Geographical Segmentation

Machine Safety Market by Region

North America

  • By Component
  • By Implementation
  • By Application
  • By Industry
  • By Country – U.S., Canada, and Mexico

Europe

  • By Component
  • By Implementation
  • By Application
  • By Industry
  • By Country – Germany, U.K., France, Italy, Spain, Russia, and Rest of Europe

Asia-Pacific (APAC)

  • By Component
  • By Implementation
  • By Application
  • By Industry
  • By Country – China, Japan, India, South Korea, and Rest of Asia-Pacific

Rest of the World (RoW)

  • By Component
  • By Implementation
  • By Application
  • By Industry
  • By Country – Brazil, Saudi Arabia, South Africa, U.A.E., and Other Countries
Our Industry
Global Machine Safety Market is Anticipated to grow at a Significant Pace i.e., USD 6.6 Billion during the Forecast Period 2021-2027