Machine Safety Market Research Report 2017 of 194 pages explores Global Machine Safety Market reaching $4.98 billion by 2020. Report provides Machine Safety Market Size, Share, Manufacturers, Statistics, and Opportunities Forecast to 2020. The global Machine Safety market is estimated to grow at a CAGR of 7.5% between 2017 and 2020.
Machine Safety Company analysed in report are ABB Ltd. (Switzerland), EUCHNER GMBH CO.
KG (Germany), Honeywell International (U.S.), IDEC Corp. (Japan), Mitsubishi Electric Corp.
(Japan), PHOENIX CONTACT GmbH & Co. KG (Germany), Pilz GmbH & Co.
KG (Germany), Rockwell Automation, Inc.
(U.S.), Schneider Electric SE (France), and Siemens AG (Germany)among others.
“The Machine Safety market is estimated to witness significant growth between 2017 and 2020”
Key factors driving the growth of the Machine Safety include the increasing need for worker safety, the growing requirement for improving productivity, and the reduction in operating costs. However, the depletion of natural resources is a major restraining factor for the growth of the market.
“The market for integrated components is projected to grow rapidly in the coming years”
The machine safety market is segmented on the basis of implementation of these systems. The market for machine integrated safety components is expected to grow at the highest CAGR in the coming years.
The machine integrated safety solutions increase efficiency, provide better flexibility to the operators, and reduce downtimes. Therefore, machine manufacturers focus on embedding safety components in various machines, thereby, offering comprehensive solutions to the users.
“APAC is expected to be the fastest-growing market for machine safety during the forecast period”
The market in APAC is expected to grow at the highest CAGR between 2015 and 2020. The major developing countries in the region, China and India, are expected to increasingly adopt the machine safety systems.
Increasing emphasis on the machine and industrial safety regulations by various safety standard organizations, growing industrialization, and increasing adoption of safety cultures by multinational companies are projected to drive the market for machine safety systems in the region. The safety regulations in APAC are expected to become stringent for the organizations to follow.
Thus, the market in APAC is likely to grow considerably in the coming years.
Break-up of profile of primary participants for the report as given below:
- By Company Type - Tier 1 –49%, Tier 2 – 27%, and Tier 3 – 24%
- By Designation – C-level – 54%, Director level– 25%, Manager level – 21%
- By Region – North America - 35%, Europe – 20%, APAC – 37%, RoW – 8%
Key Benefits of Downloading the Report:
- Market statistics pertaining to product, implementation, application, and region
- Porter’s five forces framework, utilized along with the value chain analysis, to provide an in-depth insight of the machine safety systems market
- Major drivers, restraints, and opportunities for the machine safety market
- Analysis, forecast, illustrative segmentation of the market based on product, implementation, application, and geography
- Detailed competitive landscape, in-depth analysis, and revenue of key players