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Machine Safety Market 2021: Developments and Trends, Potential of the Market from 2021-2023

Market Research Future published a research report on “Machine Safety Market Research Report - Global Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Overview:

Machines are used extensively in a number of industrial applications like assembly, packaging, robotics, material handling, and many others. Machine safety is the security and protection applied to both machines and operators working on them. Machines have the potential to cause damage and severe injuries at the workplace, hence, safeguarding the machines, and its parts, processes, or function, is essential to protect the workers from these injuries. The impact of such instances on the environment, workers, and the production has become critical for manufacturers. Companies are more inclined to adopt safety systems that provide security to employees through sustainable strategic programs.

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The increasing number of accidents at workplace, along with the rising emphasis on proactive industrial safety is driving the growth of the machine safety market. Assembling is a fast and continuous process involving the movement of machinery and hazardous equipment that can cause harm to workers. Therefore, prevention to these accidents is the primary focus of organizations as there has been increasing attention on machine safety. The implementation of machine safety systems in these assembly lines act as a shield, covering the hazardous areas of a machine which is used to prevent any damage to the human body. The increasing adoption and improvements in safety devices such as safety curtains with the integration of light and digital indicators, along with the development of Industrial Revolution 4.0 can be seen as a potential growth opportunity of this market. However, the added cost associated with machine safety technology, and few instances of system failure in protecting machines and workers, is hampering the growth of the market.

In April 2018, Rockwell Automation developed controllers that can simplify and improve the safety performance of the machines. The scalability of Compact GuardLogix 5380, and Allen-BradleyLogix 5580 controllers can be increased that can assist engineers to optimize the safety system design at a comparatively lower cost. These devices are high-performance controllers that use increased processing power to achieve faster reaction times and shorter safe distances. This helps to create smaller machines, increase operation efficiencies, reduce cost, and save valuable floor space, along with preventing the machines and workers from damage.

The global Machine Safety Market is expected to reach approximately USD 6.48 billion by 2023 growing at a 6.88% CAGR over the forecast period 2018–2023

Key Players

Prominent Key Players in the machine safety market include Rockwell (US), Honeywell (US), SICK (Germany), ABB (Switzerland), Schneider (France), Mitsubishi Electric (Japan), Pilz (Germany), Keyence (Japan), Banner Engineering (US), Omron (Japan), and IDEC Corporation (Japan)

Other global players in this market are Pepperl + Fuchs (Germany), Phoenix Contact (Germany), Euchner (Germany), and Datalogic (Italy).

Machine Safety Market – Segmentation

According to Market Research Future, the global machine safety market is segmented on the basis of component, implementation, application, and industry.

On the basis of component, the machine safety market is segmented into presence-sensing safety sensors, programmable safety systems, safety controllers/ modules/relays, emergency stop devices, safety interlock switches, and two-hand safety controls. Presence-sensing safety sensors is a leading segment in this market as there has been a rise in the requirement for protecting production units and machines. Programmable safety systems play a vital role to ensure the safety of operators and machines.

On the basis of implementation, the market is segmented into individual components and embedded components. Embedded components are driving this market as they help to achieve and implement various industry standards. These components provide benefits to applications and people as embedded components control and monitor situations and prevent them from happening.

On the basis of application, the market is segmented into assembly, robotics, material handling, packaging, metalworking, and others. Assembly and robotics application is expected to dominate the market and hold the largest market share throughout the forecast period as typical automation processes have various aspects namely controlling, positioning, limitation, and movement that requires maximum security.

On the basis of industry, the market is segmented into oil & gas, chemicals, aerospace, food & beverages, healthcare, semiconductor & electronics, automotive, and others. The automotive industry is expected to be the leading segment in the machine safety market during the forecast period due to increasing population resulting in an increased demand for automobiles, which is driving the growth of the machine safety market.

Global Machine Safety Market – Regional Analysis

The regional analysis of machine safety market has been done for North America, Europe, Asia Pacific and rest of the world. Europe is predicted to dominate this market during the forecast period with the highest market share as it is a leading player in automation. Machinery Directive 2006/45/EU is the legislation governing the machine safety requirements in Europe. It benefits harmonization with a combination of safety and health requirements. This is a mandatory directive, which ensures the protection of machines and workers in various organizations. North America is the second largest market with the presence of prominent players like Rockwell (US), Honeywell (US), and Banner Engineering (US), active in the machine safety market. Asia Pacific is also predicted to grow at the highest rate during the forecast period owing to the developing economies like China, Japan, and India owing to advances in technology that are easily adaptable.

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About Us:

Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.

Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.

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