Machine Safety Market Forecast to 2021–2028 for Size, Share

Global Machine Safety Market Forecast to 2028

The report on the global Machine Safety market looks at both past and present data and does a complete analysis of market dynamics. The study also discusses the main market growth stimulating and inhibiting variables that are anticipated to have an impact on market growth during the forecast period. In order to predict industry growth for the years 2022 to 2030, the Global Machine Safety Market conducts market scenario research. The study focuses on potential growth opportunities and limitations that market leaders in the industry might experience over the course of the projection period. The research focuses specifically on developing business components, specialist industries, product launches, and brand promotions that are occurring in the

According to the most recent report by Emergen Research, the global market for machine safety is anticipated to reach a market size of USD 7.25 billion at a revenue CAGR of 5.3% during the forecast period. Strict machine safety regulations enforced by international safety standard organisations like the International Electrotechnical Commission (IEC) and International Organization for Standardization (ISO), as well as the demand for effective and affordable safety systems for the protection of people and assets, are major market growth drivers. In the era of Industry 4.0, businesses are concentrating on investing in cutting-edge machinery to boost productivity. To prevent unplanned events like accidents and malfunctions, sophisticated machinery needs to be monitored constantly.

Because of this, machine safety systems are required in every industry. Machine safety is a critical consideration when utilising EDM equipment because the process involves high voltages and electrical currents that provide a risk of operator injury. To lessen these risks, producers of electrical discharge machining equipment usually include safety features like emergency stop buttons and interlocks that stop the machine from operating if certain conditions are not met.

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Competitive Terrain:

The global Machine Safety industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.

The leading market contenders listed in the report are:

ABB Ltd. , Emerson Electric Co. , General Electric Co. , Honeywell International Inc. , Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Yokogawa Electric Corp., Omron Corporation, Keyence Corporation

Research Report on the Machine Safety Market Addresses the Following Key Questions:

Who are the dominant players of the Machine Safety market?
Which regional market is anticipated to have a high growth rate over the projected period?
What consumer trends and demands are expected to influence the operations of the market players in the Machine Safety market?
What are the key growth drivers and restraining factors of the Machine Safety market?
What are the expansion plans and strategic investment plans undertaken by the players to gain a robust footing in the market?
What is the overall impact of the COVID-19 pandemic on the Machine Safety market and its key segments?

Market Overview:

The report bifurcates the Machine Safety market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.

Segments Covered in this report are:

Implementation Outlook (Revenue, USD Billion; 2021–2028)
- Individual Components
- Embedded Components

Component Outlook (Revenue, USD Billion; 2021–2028)
- Presence Sensing Safety Sensors
- Emergency Stop Devices
- Safety Interlock Switches
- Safety Controller/Modules/Relays

End-Use Outlook (Revenue, USD Billion; 2021–2028)
- Oil and Gas
- Electronics and Semiconductors
- Automotive
- Food and Beverage
- Healthcare

Regional Landscape section of the Machine Safety report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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Key Highlights of Report

In May 2020, ABB Ltd. Launched Induction xP Plus actuator for paper and packaging manufacturers. These actuators offer safe caliper control on paper machines calendars.
In February 2020, E100 electric motor overload relay was launched by Rockwell Automation to prevent motor damage and reduce downtime of operation.
Asia Pacific is expected register fastest CAGR during the forecast period, owing to rapid industrialization in countries such as India, Pakistan, China, and Japan. Moreover, government initiatives such as Made in China 2025 and Make in India encourages the establishment of advanced manufacturing units with an increased focus on safety. This creates an opportunity for further market growth in the region.

The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Machine Safety market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Points of the Geographical Analysis:

Data and information related to the consumption rate in each region
Estimated increase in the consumption rate
Proposed growth of the market share of each region
Geographical contribution to market revenue
Expected growth rate of the regional markets

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