Machine Safety Market Introduction and Overview
According to SPER Market Research, the Global Machine Safety Market is estimated to reach USD 9.23 billion by 2034 with a CAGR of 5.68%.
The report includes an in-depth analysis of the Global Machine Safety Market, including market size and trends, product mix, Applications, and supplier analysis. The increasing use of technology in oil and gas, electronics and electrical, and automotive manufacturing lines is predicted to drive the global market's gradual growth. These are a few crucial areas where operational safety for individuals might result in mishaps. In order to ensure that there are few or no accidents that occur while the machine is operating, machine safety mostly includes safety switches, safety controls, modules, and relays in addition to programmable systems. Fast monitoring, analysis, and control systems are necessary for machine safety equipment. Nonetheless, a lot of tiny and niche businesses provide items and minor parts at far lower prices than the norm, which frequently interferes with machine safety infiltration capabilities.
By Component Insights: Machine Safety is classified into four categories: Presence Sensing Safety Sensors, Emergency Stop Devices, Safety Interlock Switches and Safety Controller/Modules/Relays. The market share of the safety sensors category was the largest based on the component. Safety sensors are essential parts that identify environmental changes, like the presence of people or items in dangerous areas. The safety interlock switch market is expected to grow at the quickest rate during the forecast period. Safety interlock switches use electrical or mechanical locking devices to prevent entry to dangerous places.
By Implementation Insights: The market for Machine Safety is segmented based on Implementation, including Individual Components, Embedded Components. The largest market share was held by the embedded sector. The process of directly incorporating safety elements into the control and design of industrial machinery is known as embedded implementation. The automation and control architecture as a whole naturally incorporates safety features. Over the forecast period, the individual segment is expected to grow at the fastest rate. The independent incorporation of machine safety solutions into pre-existing industrial configurations is referred to as individual implementation.
By End User Insights: The market for Machine Safety is divided into many end users, including Automotive, Electronics and Semiconductors, Food and Beverages, Healthcare and Pharmaceuticals, Metals and Mining, Oil and Gas. The markets largest source of revenue was the automotive sector. An additional factor driving the need for machine safety goods and services is the increased consciousness of environmental sustainability and energy efficiency. Additionally, companies are investing in strong machine safety solutions as a result of the introduction of tight liability and worker safety rules. Therefore, putting in place efficient safety measures aids companies in reducing legal risks, averting expensive litigation, and preserving a positive reputation in the machine safety industry.
By Regional Insights: The Machine Safety market is expected to grow at the fastest rate in United States. Strong legislative frameworks that prioritize workplace safety, heightened industry awareness, and an increase in the rate at which advanced automation technologies are being adopted are the main drivers of this surge. Machine safety market expansion in United States is being driven by this region's dedication to improving worker safety at work and the ongoing incorporation of cutting-edge safety solutions.
Market Competitive Landscape:
Both newcomers and well-established international firms make up the competitive environment. Due to their wide range of products, widespread geographic reach, and well known brands, major rivals command large market shares. In order to innovate and enhance their product offerings, many of these businesses are making significant investments in research and development. Some of the key market players are 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.
Recent Developments:
- In July 2023, Microsoft and ABB announced their partnership to integrate generative AI into industrial digital solutions for operations that are safer, more intelligent, and more sustainable.
- In July 2023, Cavendish Renewable Technology (CRT) will work with Emersons automation and software portfolio to expedite the implementation of CRTs hydrogen production systems, the company announced.
- In August 2023, The OpreXTM Control and Safety Systems Collaborative Information Server will be upgraded by Yokogawa Electric Corporation to improve alarm management, provide access to maintenance data, and support global communication standards.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Component, By Implementation, By End User. |
| Regions covered | North America, Latin America, Asia-Pacific, Europe, and Middle East & Africa. |
| Companies Covered | 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. and others. |
Key Topics Covered in the Report:
- Global Machine Safety Market Size (FY’2021-FY’2034)
- Overview of Global Machine Safety Market
- Segmentation of Global Machine Safety Market By Component (Presence Sensing Safety Sensors, Emergency Stop Devices, Safety Interlock Switches, Safety Controller/Modules/Relays)
- Segmentation of Global Machine Safety Market By Implementation (Individual Components, Embedded Components)
- Segmentation of Global Machine Safety Market By End User (Automotive, Electronics and Semiconductors, Food and Beverages, Healthcare and Pharmaceuticals, Metals and Mining, Oil and Gas)
- Statistical Snap of Global Machine Safety Market
- Expansion Analysis of Global Machine Safety Market
- Problems and Obstacles in Global Machine Safety Market
- Competitive Landscape in the Global Machine Safety Market
- Details on Current Investment in Global Machine Safety Market
- Competitive Analysis of Global Machine Safety Market
- Prominent Players in the Global Machine Safety Market
- SWOT Analysis of Global Machine Safety Market
- Global Machine Safety Market Future Outlook and Projections (FY’2025-FY’2034)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPERs internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Machine Safety Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Machine Safety Market
7. Global Machine Safety Market, By Component (USD Million) 2021-2034
7.1. Presence Sensing Safety Sensors
7.2. Emergency Stop Devices
7.3. Safety Interlock Switches
7.4. Safety Controller/Modules/Relays
8. Global Machine Safety Market, By Implementation (USD Million) 2021-2034
8.1. Individual Components
8.2. Embedded Components
9. Global Machine Safety Market, By End User (USD Million) 2021-2034
9.1. Automotive
9.2. Electronics and Semiconductors
9.3. Food and Beverages
9.4. Healthcare and Pharmaceuticals
9.5. Metals and Mining
9.6. Oil and Gas
10. Global Machine Safety Market, (USD Million) 2021-2034
10.1. Global Machine Safety Market Size and Market Share
11. Global Machine Safety Market, By Region, (USD Million) 2021-2034
11.1. Asia-Pacific
11.1.1. Australia
11.1.2. China
11.1.3. India
11.1.4. Japan
11.1.5. South Korea
11.1.6. Rest of Asia-Pacific
11.2. Europe
11.2.1. France
11.2.2. Germany
11.2.3. Italy
11.2.4. Spain
11.2.5. United Kingdom
11.2.6. Rest of Europe
11.3. Middle East and Africa
11.3.1. Kingdom of Saudi Arabia
11.3.2. United Arab Emirates
11.3.3. Qatar
11.3.4. South Africa
11.3.5. Egypt
11.3.6. Morocco
11.3.7. Nigeria
11.3.8. Rest of Middle-East and Africa
11.4. North America
11.4.1. Canada
11.4.2. Mexico
11.4.3. United States
11.5. Latin America
11.5.1. Argentina
11.5.2. Brazil
11.5.3. Rest of Latin America
12. Company Profile
12.1. ABB Ltd
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. Banner Engineering Corp.
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. Emerson Electric Co.
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Honeywell International Inc.
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. IDEC Corporation
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. Keyence Corporation
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Mitsubishi Electric Corporation
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. OMRON Corporation
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Pilz GmbH & Co. KG
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Rockwell Automation Inc.
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
