Machine Safety Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Machine Safety Market
The machine safety market size was valued at USD 5.28 billion in 2022, and the market is now projected to grow from USD 5.43 billion in 2023 to USD 7.79 billion by 2030, exhibiting a CAGR of 5.3% during the forecast period of 2023-2030.
A huge decline in the elective procedures, operative dental procedures, orthopedic surgeries as well as emergency room visits in the hospitals and operation theatres were on a hold for a significant amount of period that caused an immense downfall in terms of number of post-operative surgeries during the pandemic period, impeding the rise of machine safety market growth. Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. During the pandemic, the social distancing protocol urged everyone to use the internet for amusement, remote work, and basic necessities. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the machine safety market growth.
Growing industry will increase need for machine safety will augment machine safety market growth during projected period. Growing industrialization and the necessity for contemporary engineering products drove a holistic need that resulted in a positive revival of machine safety demand. To further support the anticipated demand, product engineering is increasingly using sophisticated machining techniques. To support the growth of the machine safety market throughout the projected period, modern engineering processes linked with modern robotic process automation require protection from human involvement through cutting-edge safety solutions, such light curtains and safety controllers.
Growing industry will increase need for machine safety will augment machine safety market growth during projected period. Growing industrialization and the necessity for contemporary engineering products drove a holistic need that resulted in a positive revival of machine safety demand. To further support the anticipated demand, product engineering is increasingly using sophisticated machining techniques. To support the growth of the machine safety market throughout the projected period, modern engineering processes linked with modern robotic process automation require protection from human involvement through cutting-edge safety solutions, such light curtains and safety controllers.
Comprehensive Analysis of Machine Safety Market
The machine safety market and machinery and equipment industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment benefit management industry. These segmentations are methodically segregated by product types and by application. The types of product segmentations include, Safety Sensors & Switches, Safety Controllers/ Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls, and Others (Light Curtains & Scanners), By Application segmentations include Security and Detention, Automotive, Electronics and Electrical, Food and Packaging, Logistics & Automation, Life Sciences, Oil & Gas, Semiconductor, and Others (Processing).
The Asia Pacific region lead the machine safety market by benefitting a market size of USD 1.68 billion in 2022 due to the potential for the safety market is greatly increased by the increasing use of robotics and the growth of foreign direct investment in the establishment of new industrial cultures.
The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include, Rockwell Automation (U.S.), Emerson Electric Co. (U.S), Schneider Electric (France), Honeywell International Inc. (U.S.), Siemens AG (Germany), Omron Corporation (Japan), Keyence Corporation (Japan), Yokogawa Electric Corporation (Japan), General Electric (U.S.), Mitsubishi Electric Corporation (Japan), IDEC Corporation (Japan), ABB Ltd (Switzerland), Pepperl Fuchs (Germany), Hartell (Ingersoll Rand) (U.S.) these market players provide a level-playing competitive landscape.
In December 2022, The modular safety device for contemporary automated guided vehicles, or AGVs, was introduced by Pilz GmBH Co., Kg. The PSENScan is a revolutionary safety laser scanner designed to protect AGVs by detecting objects and averting workplace collisions.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 5.3% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Product Type
Safety Sensors & Switches
Safety Controllers/ Modules/Relays
Programmable Safety Systems
Emergency Stop Controls
Two-Hand Safety Controls
Others(Light Curtains & Scanners)
By Application
Security and Detention
Automotive
Electronics and Electrical
Food and Packaging
Logistics & Automation
Life Sciences
Oil & Gas
Semiconductor
Others (Processing)
By Region
North America (By Product Type, By Application, and By Country)
U.S. (By Product Type)
Canada (By Product Type)
Mexico (By Product Type)
Europe (By Product Type, By Application, and By Country)
U.K. (By Product Type)
Germany (By Product Type)
France (By Product Type)
Italy (By Product Type)
Spain (By Product Type)
Russia (By Product Type)
Rest of Europe
Asia Pacific (By Product Type, By Application, and By Country)
China (By Product Type)
India (By Product Type)
Japan (By Product Type)
South Korea (By Product Type)
Rest of Asia Pacific
Middle East & Africa (By Product Type, By Application, and By Country)
GCC (By Product Type)
Turkey (By Product Type)
South Africa (By Product Type
Rest of MEA
South America (By Product Type, By Application, and By Country)
Brazil (By Product Type)
Argentina (By Product Type)
Rest of South America
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