04-23-2019 10:59 AM CET - Industry, Real Estate & Construction

Machine Safety Market Analysis 2019: Datalogic, K.A. Schmersal GmbH & Co. KG, Phoenix Contact Brasil, EUCHNER-USA, Pepperl+Fuchs GmbH, SICK, IDEC Corporation, KEYENCE CORPORATION, Siemens, Honeywell, ABB

Press release from: Data Bridge Market Research
Global Machine Safety Market
Global Machine Safety Market

The Machine Safety Market report is very useful in identifying brand awareness, market landscape, possible future issues, industry trends and customer behaviour with which superior business strategies can be set. This Machine Safety report provides with an actionable market insight to the clients with which they can make out the sustainable and profitable business strategies. The report provides the key statistics on the market status of Global and Regional manufacturers and hence works as an important source of guidance for companies and individuals interested in the industry. Moreover, the prerequisites of Semiconductors and Electronics industry have been understood at the fullest to endow them with the premium market research report.

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Machine safety is the devices or a set of safeguards that are applied to the machinery and their operators so that any hazards can be avoided, and no harm comes to the machine or human life. Examples of these can be emergency buttons that are able to stop the machine’s operations in an emergency. The Global Machine Safety Market is set to rise from its initial estimated value of USD 4.41 billion in 2018 to an estimated value of USD 6.89 billion by 2026, registering a CAGR of 5.75% in the forecast period of 2019-2026. This rise in market value can be attributed to the growing concerns for safety due to the increased number of accidents.

Few of the major competitors currently working in machine safety market are:

Rockwell Automation Inc., Schneider Electric, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, ABB, Honeywell International Inc., Siemens AG, KEYENCE CORPORATION, IDEC Corporation, SICK AG, Pepperl+Fuchs, Euchner-USA Inc., PHOENIX CONTACT, K.A. Schmersal GmbH & Co. KG, Datalogic S.p.A., Stronghold Safety Engineering, Rockford Systems LLC, Troax Group, and Rite-Hite.

Market Drivers:

• Increased cases of accidents in various industries due to the unsafe conditions of machines is expected to drive the market growth

• Increased concerns

Market Restraints:

• Inability of providing proper safety and protection from secondary hazards is expected to restrain the market growth

• High cost and maintenance adding up to additional costs is also expected to restrain the market growth

Key Developments in the Market:

In July 2017, Schneider Electric announced that they had established an agreement for the acquisition of ASCO Power Technologies, with this acquisition aimed at expanding the product portfolio of Schneider Electric.

In May 2018, Larsen & Toubro (L&T), announced that they signed an agreement for the divesture of its electric and automation department with Schneider Electric. This agreement will make expand Schneider Electric’s portfolio and market share in India, making it one of the major revenue generating regions for the enterprise.

Competitive Analysis: Global Machine Safety Market

Global machine safety market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of machine safety market for global, Europe, North America, Asia Pacific and South America.

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Segmentation: Global Machine Safety Market

By Component

• Presence-Sensing Safety Sensors
• Safety Controllers/Modules/Relays
• Programmable Safety Systems (Safety PLCS)
• Safety Interlock Switches
• Emergency Stop Devices
• Two-Hand Safety Controls

By Implementation

• Individual Components
• Embedded Components

By Application

• Assembly
• Material Handling
• Metal Working
• Packaging
• Robotics
• Others

By Industry

• Oil & Gas
• Chemicals
• Aerospace
• Semiconductors & Electronics
• Food & Beverages
• Automotive
• Healthcare
• Others

By Geography

• North America

• South America

• Europe

• Asia-Pacific

• Middle East and Africa

Key Insights in the report:

• Complete and distinct analysis of the market drivers and restraints

• Key Market players involved in this industry

• Detailed analysis of the Market Segmentation

• Competitive analysis of the key players involved

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