Machine Safety Market: Overview
Industrialization has taken an upward trajectory and rising at a decent rate over the past few years. Globalization, increasing demand for industrialized products, and increasing technological developments has increased the demand for manufactured goods. But while working with different types of machines there are high chances of accidents. Therefore, there is a high demand for machine safety measures that will ensure the safety of their employees. Moreover, increasing regulations by governments on industrialists to provide employees working in specific industries with appropriate devices for working and safety has fueled the demand for machines safety measures.
Industries adopting machine safety measures comprises of food & beverages, automotive, machine tools , packaging & material handling, semiconductor, and printing. Among these industries, various other industries are also introducing advanced safety measures such as building and construction, health, pharmaceuticals, and others.
Rising economic development in some of the emerging economies along with increasing industrial sector and urbanization taking place has also benefitted the growth in the global machine safety market. Moreover, technological advancements taking place in machine safety measures such as pressure sensing safety sensors, emergency stop control, and others have further increased the growth chances in this market.
From player’s point of view, those manufacturers who provide better and advanced safety to their employees are certain to have higher competitive edge against their competitors. In addition, workers when feel safe and secure are encouraged to work by giving their best. This factor is also expected to contribute in the growth of the global machine safety markets. Rising awareness among employees and employers and increasing efforts made by international and national organizations is likely to benefit the market’s growth. Furthermore, strict regulations imposed by governments in spreading the knowledge about the safety at work place and providing advanced and correct equipment to workers is another factor driving demand for advanced machine safety solutions.
Global Machine Safety Market: Overview
The rapid increase in the number of industrial accidents is boosting the growth of the machine safety market over the years. Machine guarding or machine safety is a system or a feature in the engineering or the manufacturing equipment that has a shield over the dangerous parts of machines or devices like sparks or chips so that by any chance they do not exit the machine. Machine safety is considered as an important part of human safety in manufacturing industries and factories.
There are different variations to the global machine safety market on the basis of component, implementation, application, and industry. Based on segmentation by component, the market is categorized into Two-Hand Safety Controls, Emergency Stop Devices, Safety Controllers/ Modules/Relays, Safety Interlock Switches, Presence-Sensing Safety Sensors, and Programmable Safety Systems (Safety PLCs). On the basis of application, the market is grouped into Embedded Components, and Individual Components. Based on classification by application, the market for machine safety is segmented into Robotics, Packaging, Metal Working, Material Handling, and Assembly. With respect to industry, the global market for machine safety is categorized into Healthcare, Automotive, Semiconductor & Electronics, Oil & Gas, Automotive, Chemicals, Food & Beverages, and Aerospace.
The report presented above is a complete evaluation of the global machine safety market with major focus on market dynamics. It also includes market drivers, restraints, and trends and opportunities. The above presented report also offers geographical and other segmentation of the market.
Global Machine Safety Market: Trends and Opportunities
The global market for machine safety is predicted to witness a massive acceleration in the coming years due to the increase in the number of industrial accidents. Handling of giant achiness for faster and better production creates a lot of danger for the human labor that works in and around them. The number of accident cases have also increased over the years. Hence, machinery safety and guarding rules were imposed upon all industrial and manufacturing companies in order to safeguard the lives of their human employees.
Another important factor boosting the machine safety market is the rise in demand for safety devices that are presence-sensing. However, the fact that most workers have lost their lives despite machine protection may act as a hindrance in the growth of the market. Apart from that, the high expenditure related to the installation of machine safety system may also restrict the growth of the overall market.
Nevertheless, the development of improved and new safety light curtains that includes digitally functional indicators may offer lucrative opportunities of growth at a global level. Most importantly, the evolution of industrial revolution 4.0 is also prophesized to bring rapid growth in the machine safety market in the years to come.
Global Machine Safety Market: Regional Analysis
Geographically, the global machine safety market is categorized into the regions of Latin America, North America, Europe, Middle East and Africa, and Asia Pacific. Trends prevalent in these regions are studies in detail. Furthermore, the impact of prevailing government policies and economic trends on demand witnessed in these regions is also examined in detail.
Global Machine Safety Market: Competitive Analysis
Prominent players of the global machine safety market are Banner Engineering, Mitsubishi Electric, Honeywell, Keyence Corporation, and Omron. The report studies in detail various strategies adopted by these companies and gauges the impact of the same in the overall market. It also conducts analyses to study the strengths and weaknesses of the companies profiled.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.