IMARC Group, a leading market research company, has recently releases report titled “Machine Safety Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How Big is the Machine Safety Market?
The global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Industry Overview of Machine Safety
Machine safety encompasses a wide range of mechanisms and precautions implemented to safeguard both machinery and those operating it. It involves a variety of safety devices, such as emergency stop mechanisms, safety sensors, interlock switches, safety curtain lights, protective clothing, presence sensor devices, and safety controllers, relays, and modules. These measures are specifically designed to mitigate potential harm to individuals caused by moving parts, hot surfaces, or sharp edges of machines, thus reducing the risk of workplace injuries or accidents. Consequently, machine safety devices are extensively utilized in diverse sectors, including food and beverage (F&B), manufacturing, healthcare, automotive, electronics, semiconductor, power generation, and oil and gas.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/machine-safety-market/requestsample
What are the growth prospects and trends in the machine safety industry?
The growing focus on safety in the industrial sector and the escalating number of workplace accidents is primarily driving the machine safety market. Furthermore, governments of different countries and international organizations like ISO and IEC are introducing stringent safety standards for machinery.
As a result, industries and manufacturing facilities are compelled to comply with these regulations, which contributes to the expansion of the market. Additionally, there is a growing trend of investing in the upgrade of existing machinery to enhance production capacity, as well as a rising demand for industrial automation products, both of which are fostering the adoption of machine safety measures. Leading manufacturers are actively involved in the development of innovative product variants that aim to improve machine safety, efficiency, and reliability.
Moreover, the advent of Industry 4.0, increased awareness regarding occupational safety among workers, widespread adoption of IoT solutions, rapid industrialization, and extensive research and development (R&D) activities are among the other factors that contribute to a positive market outlook for machine safety.
Leading Companies Operating in the Global Machine Safety Industry:
- ABB Ltd
- Banner Engineering Corp.
- Emerson Electric Co.
- Honeywell International Inc.
- IDEC Corporation
- Keyence Corporation
- Mitsubishi Electric Corporation
- OMRON Corporation
- Pilz GmbH & Co. KG
- Rockwell Automation Inc.
- Schneider Electric SE
- Sick AG
- Siemens AG
Machine Safety Market Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Implementation:
- Individual Components
- Embedded Components
Breakup by Component:
- Presence Sensing Safety Sensors
- Emergency Stop Devices
- Safety Interlock Switches
- Safety Controller/Modules/Relays
- Others
Breakup by End Use Industry:
- Automotive
- Electronics and Semiconductors
- Food and Beverages
- Healthcare and Pharmaceuticals
- Metals and Mining
- Oil and Gas
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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