ID: MRFR/SEM/4775-HCR | February 2021 | Region: Global | 100 pages
Market Synopsis of Global Machine Safety Market
Machines are used extensively in a number of industrial applications like assembly, packaging, robotics, material handling, and many others. Machine safety is the security and protection applied to both machines and operators working on them. Machines have the potential to cause damage and severe injuries at the workplace, hence, safeguarding the machines, and its parts, processes, or function, is essential to protect the workers from these injuries. The impact of such instances on the environment, workers, and the production has become critical for manufacturers. Companies are more inclined to adopt safety systems that provide security to employees through sustainable strategic programs.
The increasing number of accidents at workplace, along with the rising emphasis on proactive industrial safety is driving the growth of the machine safety market. Assembling is a fast and continuous process involving the movement of machinery and hazardous equipment that can cause harm to workers. Therefore, prevention to these accidents is the primary focus of organizations as there has been increasing attention on machine safety. The implementation of machine safety systems in these assembly lines act as a shield, covering the hazardous areas of a machine which is used to prevent any damage to the human body. The increasing adoption and improvements in safety devices such as safety curtains with the integration of light and digital indicators, along with the development of Industrial Revolution 4.0 can be seen as a potential growth opportunity of this market. However, the added cost associated with machine safety technology, and few instances of system failure in protecting machines and workers, is hampering the growth of the market.
In April 2018, Rockwell Automation developed controllers that can simplify and improve the safety performance of the machines. The scalability of Compact GuardLogix 5380, and Allen-BradleyLogix 5580 controllers can be increased that can assist engineers to optimize the safety system design at a comparatively lower cost. These devices are high-performance controllers that use increased processing power to achieve faster reaction times and shorter safe distances. This helps to create smaller machines, increase operation efficiencies, reduce cost, and save valuable floor space, along with preventing the machines and workers from damage.
The Global Machine Safety Market, 2018-2023 (USD Billion)
Source: MRFR Analysis
The global machine safety market is expected to reach approximately USD 6.48 billion by 2023 growing at a 6.88% CAGR over the forecast period 2018–2023
Prominent key players in the machine safety market include Rockwell (US), Honeywell (US), SICK (Germany), ABB (Switzerland), Schneider (France), Mitsubishi Electric (Japan), Pilz (Germany), Keyence (Japan), Banner Engineering (US), Omron (Japan), and IDEC Corporation (Japan)
Other global players in this market are Pepperl + Fuchs (Germany), Phoenix Contact (Germany), Euchner (Germany), and Datalogic (Italy). The prominent players keep innovating and investing in research and development to offer cost-effective products. Additionally, merger and acquisitions among the various players are changing the market structure.
The machine safety market is segmented based on component, implementation, application, and industry. These segments are sub-segmented into the following:
By component, this market is segmented into presence-sensing safety sensors, programmable safety systems, safety controllers/ modules/relays, emergency stop devices, safety interlock switches, and two-hand safety controls
By implementation, it is segmented into individual components and embedded components
By application, it is segmented into assembly, robotics, material handling, packaging, metalworking, and others
By industry, the market is segmented into oil & gas, chemicals, aerospace, food & beverages, healthcare, semiconductor & electronics, automotive, and others
The regional analysis of machine safety market has been done for North America, Europe, Asia Pacific and rest of the world. Europe is predicted to dominate this market during the forecast period with the highest market share as it is a leading player in automation. Machinery Directive 2006/45/EU is the legislation governing the machine safety requirements in Europe. It benefits harmonization with a combination of safety and health requirements. This is a mandatory directive, which ensures the protection of machines and workers in various organizations. North America is the second largest market with the presence of prominent players like Rockwell (US), Honeywell (US), and Banner Engineering (US), active in the machine safety market. Asia Pacific is also predicted to grow at the highest rate during the forecast period owing to the developing economies like China, Japan, and India owing to advances in technology that are easily adaptable.
|Market Size||USD 6.48 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Components, Implementation, Application, Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Rockwell (US), Honeywell (US), SICK (Germany), ABB (Switzerland), Schneider (France), Mitsubishi Electric (Japan), Pilz (Germany), Keyence (Japan), Banner Engineering (US), Omron (Japan), and IDEC Corporation (Japan)|
|Key Market Opportunities||The increasing adoption and improvements in safety devices such as safety curtains with the integration of light and digital indicators, along with the development of Industrial Revolution 4.0.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global machine safety market is expected to rise to a valuation of USD 6.48 billion by 2023.
The market is expected to exhibit a 6.88% CAGR over the forecast period from 2017 to 2023.
The increasing awareness about workplace accidents is the major driver for the global machine safety market.
Europe is likely to dominate the global market over the forecast period.
Leading players in the global machine safety market include Omron, SICK, Honeywell, Rockwell, Schneider, Mitsubishi Electric, and IDEC Corporation, among others.