Global Machine Safety Market Size study & Forecast, by Offerings (Systems, Sensors), by Components (Presence Detection Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems), by Process Industry (Chemicals, Food & Beverages, Metals & Min

Global Machine Safety Market Size study & Forecast, by Offerings (Systems, Sensors), by Components (Presence Detection Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems), by Process Industry (Chemicals, Food & Beverages, Metals & Mining, Others), by Discrete Industry (Aerospace, Automotive, Others) and Regional Analysis, 2023-2030

Global Machine Safety Market is valued at approximately USD 4.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.4 % during the forecast period 2023-2030. Machine safety encompasses the procedures, protocols, and regulatory frameworks implemented to safeguard the welfare of individuals engaged in interactions with machinery. Ensuring machine safety is a vital aspect in workplaces where machinery is employed. By adhering to appropriate safety protocols, employers can effectively safeguard workers from accidents and injuries, thereby fostering a conducive work environment conducive to enhanced morale and productivity. The integration of technology to automate industrial operations has raised concerns regarding the efficient handling of machines and technologies involved, thereby driving the machine safety market. Strict government regulations in industries utilizing heavy and modern machinery aim to prevent damage and loss, thus fostering demand for products and services within this market.

The integration of AI and technologies into industries for automation has been increasing since the onset of the pandemic, driven by regulations promoting contactless operations. According to the International Federation of Robotics, the latest World Robotics report reveals a record-breaking installation of 517,385 new industrial robots in global factories during 2021, marking a 31% year-on-year growth and surpassing the pre-pandemic installation record of 2018 by 22%. Presently, the worldwide inventory of operational robots has reached an unprecedented high of approximately 3.5 million units. The increasing moral standards by industries for the welfare of the employees is on the rise which is a vital opportunity for the Machine Safety Market to grow in the forecasted period. However, the lack of awareness of certain vital safety products and services tends to act as a barrier to the effective utilization of the machines and equipment in various industries.

The key regions considered for the Global Machine Safety Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the stringent regulatory frameworks by the government emphasizing workplace safety and employee welfare along with the integration of technology into the operations have been great contributors to the market in that region. Asia Pacific is expected to grow significantly over the forecast period, owing to the burgeoning industrial advancements in China and India, coupled with the proliferation of robotic utilization and increasing foreign direct investments aimed at establishing novel industrial frameworks, significantly expanding the potential of the Machine Safety Market.

Major market player included in this report are:
Schneider Electric
Honeywell International, Inc.
ABB
Rockwell Automation, Inc.
Siemens AG
OMRON Corporation
Emerson Electric Co.
General Electric
Mitsubishi Electric Corporation
Sick AG

Recent Developments in the Market:
 In December 2023, Honeywell Automation India Limited secured a contract with Reliance Life Sciences (RLS) to deploy advanced building management and safety technology solutions. Under this collaboration, Honeywell is now responsible for supplying, installing, testing, and commissioning integrated building management systems, including fire detection and voice evacuation systems, across multiple RLS plants located in Nashik, Maharashtra, India.
 In December 2023, Siemens Smart Infrastructure is boosting fire safety for Building X with new apps and an API for greater transparency. This enhances user experience, performance, and sustainability, integrated within Siemens Xcelerator, enabling seamless digital transformation for customers.
 In October 2022, OMRON introduces the Safety Virtual Experience: A comprehensive guide to secure automation in adaptable manufacturing environments. The Safety Virtual Experience offered by OMRON offers a comprehensive perspective on safety solutions tailored for factory floors in automotive and intralogistics sectors, providing a 360-degree insight.

Global Machine Safety Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Offerings, Component, Process Industry, Discrete Industry, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Offerings:
Systems
Sensors

By Components:
Presence Detection Sensors
Safety Controllers/Modules/Relays
Programmable Safety Systems
Safety Interlock Switches
Emergency Stop Controls
Two-Hand Safety Controls

By Process Industry:
Chemicals
Food & Beverages
Metals & Mining
Oil & Gas
Pharmaceuticals
Power Generation
Others

By Discrete Industry:
Aerospace
Automotive
Semiconductor & Electronics
Others

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.