Players Include ABB, Schneider Electric, Honeywell International and Emerson Electric
DUBLIN, March 6, 2023 /PRNewswire/ — The “Machine Safety Global Market Report 2022” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global machine safety market.
The global machine safety market is expected to grow from $4.59 billion in 2021 to $4.88 billion in 2022 at a compound annual growth rate (CAGR) of 6.37%. The machine safety market is expected to reach $6.63 billion in 2026 at a compound annual growth rate (CAGR) of 7.97%.
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Major players in the machine safety market are ABB Ltd, Schneider Electric SE, Honeywell International Inc, Emerson Electric Co, Rockwell Automation Inc, Mitsubishi Electric Corporation, Sick AG, Siemens AG, Keyence Corporation, Omron Corporation, Banner Engineering Corp, General Electric Co, IDEC Corporation, Pilz GmbH & Co KG and Balluff GmbH.
The machine safety market consists of sales of machine safety-related products and services by entities (organizations, sole traders, and partnerships) that refers to the sensor, devices, or switches used to control workplace accidents and improve production efficiency. The objective of machine safety is to protect workers from the hazards of machinery and hazardous effect related to it. Machine safety controllers monitor safety and non-safety input devices providing safe stop and start functions for machines with motion.
The main types of implementations of machine safety are individual and embedded components. Individual machine safety components are used for individual machine components. Individual components, also known as hardware, are primary component of a machine that includes structural components, mechanics, and control components.
Presence sensing safety sensors, safety interlock switches, safety controllers/modules/relays, programmable safety systems, emergency stop controls, and two-hand safety controls are some parts employed in machine safety. Systems including assembly, material handling, metalworking, packing, robotics, and others, require machine safety. Chemicals, food and drink, aircraft and military, automotive, semiconductor and electronics, healthcare and pharmaceuticals, metals and mining, and other industries that employ machine safety are among those that use machine safety.
Western Europe was the largest region in the machine safety market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the machine safety market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The strict machine safety mandates is expected to propel the growth of the machine safety market during the forecast period. Due to the increasing workplace accidents and poor public safety management, many government and international organizations are introducing strict machine safety mandates for machinery at the workplace. These safety mandates aim to enable safer use of machinery and improved safety management
Technological advancement is the key market trend gaining popularity in the machine safety market. Major companies operating in the machine safety market are focused on providing technologically-advanced solutions to strengthen their market position. These companies are implementing next-generation machine safety solutions technologies into their products and related services, such as ultrasound, infrared, magnetic, radio technology, laser scanners, safety controllers, encoders and interlock switches, and others to communicate potential mechanical issues and control the injuries caused by machines.
For instance, in August 2021, OMRON Corporation, a Japanese electronics company, announced the VT-S10 Series. This new inspection system employs artificial intelligence and image technology to automate high-precision processes for PCB sub-assemblies.
In June 2022, Clarion Safety Systems, a US-based safety systems company, acquired Machine Safety Specialists for an undisclosed amount. With this acquisition, the clarion and machine safety specialists will expand their risk compliance and assessment offerings, providing their clients with additional consulting and machine safety training services. Machine Safety Specialists is a US-based machine safeguarding company that offers OSHA machine guarding, risk assessment, and safety training.
The countries covered in the machine safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Key Topics Covered:
1. Executive Summary
2. Machine Safety Market Characteristics
3. Machine Safety Market Trends And Strategies
4. Impact Of COVID-19 On Machine Safety
5. Machine Safety Market Size And Growth
5.1. Global Machine Safety Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Machine Safety Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Machine Safety Market Segmentation
6.1. Global Machine Safety Market, Segmentation By Implementation, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.2. Global Machine Safety Market, Segmentation By Component, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
Presense Sensing Safety Sensors
Safety Interlock Switches
Programmable Safety Systems
Emergency Stop Controls
Two-Hand Safety Controls
6.3. Global Machine Safety Market, Segmentation By System, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
6.4. Global Machine Safety Market, Segmentation By Industry, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7. Machine Safety Market Regional And Country Analysis
7.1. Global Machine Safety Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Machine Safety Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/29s4ll
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