Press release
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
Global Machine Safety Market
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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
Access Detailed TOC at https://databridgemarketresearch.com/toc/?dbmr=global-machine-safety-market
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