Machine Safety Market report includes a detailed competitive landscape, along with profiles of key players, in-depth analysis, and revenues of key players.
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Other players operating in the market include Smart scan (US), Pepperl + Fuchs (Germany), Euchner (Germany), Phoenix Contact (Germany), KA Schmersal (Germany), and Datalogic (Italy).
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The machine safety market was valued at USD 4.14 billion in 2017 and is expected to reach USD 6.58 billion by 2025, at a CAGR of 6.0% between 2018 and 2025. The key factors driving the growth of the machine safety market include increasing emphasis on industrial safety and proactive safety measures, rising number of accidents in industries, mandatory safety standards and government policies, and growing demand for presence-sensing safety devices.
However, failure to protect workers and machines from secondary hazards, along with additional costs associated with machine safety systems, is hindering the growth of the market.
“Market for assembly applications to grow at the highest rate during the forecast period”
Assembling is a continuous, fast, and precise process; it is required to be error-free. Moving parts of machinery and other potential hazards can cause harm to workers; therefore, it is necessary to adopt machine safety measures for assembly applications.
Implementation of machine safety systems in assembly lines involves the use of a shield or device covering hazardous area of a machine to prevent contact with the human body. Machine safety systems ensure injury- and hazard-free working atmosphere; therefore, these systems are of utmost importance in assembly applications.
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“Market for programmable safety systems to grow at a high CAGR during the forecast period”
The market for programmable safety systems (safety PLCs) is expected to witness a significant growth during the forecast period. Safety PLCs are considered as the backbone of machine safety systems.
Safety PLCs play an important role in ensuring the safety of machines and their operators. These PLCs help in replacing wired relay systems, which are used to bring machine processes to a safe state and/or condition.
Safety PLC systems also help in the implementation of safety standards and safety-related programming for automated machines. In addition, programmable safety systems can be easily used in close conjunction with other systems.
Owing to these factots, the machine safety market for programmable safety systems is expected to grow at a high rate during the forecast period.
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“Machine Safety Market in APAC to grow at the highest CAGR during the forecast period”
The machine safety market in APAC is expected to grow at the highest CAGR between 2018 and 2025, owing to rapid industrialization in emerging economies such as China and India. These countries have already adopted machine safety for various processes such as oil & gas exploration and power generation.
China specializes in the mass production of almost every product catering to industries such as automotive, semiconductor, electronics, chemicals, food & beverages, and healthcare, followed by India, which is also an important economy in APAC. Machine safety solutions such as safety PLCs, safety light curtains, and emergency stop devices are required to provide machine safety in automated applications such as metal working, robotics, and assembly lines.
The adoption of safety automation solutions in manufacturing industries in this region is increasing significantly with rapid industrialization, thereby contributing to market growth.
The break-up of the profiles of primary participants for the report has been given below:
- By Company Type: Tier 1 = 30%, Tier 2 = 38%, and Tier 3 = 32%
- By Designation: C–Level Executives = 44%,Directors = 38%, and Others = 18%
- By Region: North America = 30%, Europe = 32%, APAC = 26%, and RoW= 12%