1. Market Research
  2. > Automotive
  3. > Auto Parts Market Trends
Machine Safety Market with COVID-19 Impact, by Component, Implementation, Application, Industry And Region - Global Forecast to 2025

Machine Safety Market with COVID-19 Impact, by Component, Implementation, Application, Industry And Region - Global Forecast to 2025

  • November 2020
  • 200 pages
  • ID: 5404289
  • Format: PDF
  • MarketsandMarkets

Summary

Table of Contents

Search Inside

The machine safety market is expected to be valued at USD 4.5 billion in 2020 and is projected to reach USD 6.0 billion by 2025; it is expected to grow at a CAGR of 6.1% from 2020 to 2025. Increasing emphasis on ensuring workplace safety in oil & gas, power generation, food & beverages, automotive, and chemicals industries would increase the demand for machine safety systems in the coming years. In addition, the establishment of standards such as IEC 61508 and IEC 61511 has led to increased adoption of machine safety systems to attain the mandatory risk reduction targets. IEC 61508 and IEC 61511 are performance-based standards that promote the concept of the machine safety life cycle.

Market for embedded components to grow at higher CAGR during forecasted period
Embedded safety component systems increase efficiency and provide better flexibility to operators; these systems reduce downtime by safely resolving issues, without stopping the entire production line.In addition, the evolution of functional safety in machinery is expected to boost the demand for embedded safety components in the coming years.

Organizations have started adopting embedded safety solutions to achieve better production performance and advanced safety. These factors owing to the higher growth of embedded components as compared to individual components during forecasted period.

Market for safety PLCs to grow at highest CAGR during forecast period“
The major factors driving the machine safety market growth are stringent safety regulations, high demand for safety systems in the oil & gas industry, and rising need for reliable safety systems for personnel and asset protection.The growth of this market can be attributed to the widespread adoption of programmable safety systems in end-user industries.

Programmable safety systems or safety PLCs are considered as the backbone of machine safety systems. These systems can be easily used in close conjunction with other systems.

APAC is projected to grow at a higher CAGR during the forecast period.
APAC is expected to be the fastest-growing market for machine safety.APAC is considered as one of the fastest-growing economies.

Countries in this region focus on large-scale industrial manufacturing and, thus, has a vast number of manufacturing plants of almost all major companies across the world.Countries such as China, India, Japan, South Korea, Australia, and Indonesia are rapidly expanding their manufacturing output.

China is considered as one of the biggest manufacturing countries in the world, thereby driving the manufacturing sector in APAC.Various multinational companies have set up their manufacturing plants in APAC and are adopting higher safety standards leading to increased demand for safety systems.

However, due to the outbreak of COVID-19, various companies in APAC to witnessed a decline in demand for machine safety. The company has been temporarily stalling new projects.

Profile break-up of primary participants for the report is given below:
• By Company Type – Tier 1 = 55%, Tier 2 = 20%, and Tier 3 = 25%
• By Designation – C-level Executives = 75%, Managers = 25%,
• By Region – North America = 10%, Europe = 20%, APAC = 40%, and RoW = 30%

The study includes an in-depth competitive analysis of these key players in the machine safety market, with their company profiles, recent developments, and key market strategies. ABB Ltd. (Switzerland), Emerson Electric Co. (US), General Electric Co. (US), Honeywell International Inc. (US), Schneider Electric SE (France), Rockwell Automation, Inc. (US), Siemens AG (Germany), Yokogawa Electric Corp. (Japan), Omron Corporation (Japan), Keyence Corporation (Japan), Mitsubishi Electric Corporation (Japan), Pilz GmbH & Co. KG (Germany), Sick AG (Germany), Balluff GmbH (Germany), and Banner Engineering Corp. (US) are among the major players in the machine safety market.

The global machine safety market is segmented into implementation, component, application, industry, and region.The market based on implementation is segmented into individual and embedded component.

Based on the components, the machine safety market has been split into presense sensing safety sensors, safety interlock switches, safety controllers/modules/safety relays, programmable safety systems, emergency stop controls, and two-hand safety controls.The applications that are included in the study are assembly, material handling, metal working, packaging, robotics, and others (welding and shielding of heavy machinery).

The machine safety market is segmented into 4 regions, namely North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

Reasons to buy the report:
• Illustrative segmentation, analysis, and forecast of the market based on type, component, system, industry, and region have been conducted to give an overall view of the machine safety market.
• A value chain analysis has been performed to provide in-depth insights into the machine safety market.
• The key drivers, restraints, opportunities, and challenges pertaining to the machine safety market have been detailed in this report.
• Detailed information regarding the COVID-19 impact on the machine safety market has been provided in the report.
• The report includes a detailed competitive landscape of the market, along with key players, as well as in-depth analysis of their revenues

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at researchadvisor@reportlinker.com to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - researchadvisor@reportlinker.com or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Drive By Wire Market by Application, Sensor ,Vehicle ,Component & Region - Global Forecast to 2025

  • $ 4950
  • December 2020
  • 216 pages

The drive by wire market is projected to reach USD 31.9 billion by 2025 from an estimated USD 24.0 billion in 2020 at a CAGR of 5.9% during the forecast period. The primary reason for the growth is driven ...

  • World
  • APAC
  • Automotive
  • Motor Vehicle
  • Industry analysis
  • Vehicle Production
  • Electric Vehicle Sales

ref:plp2020

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on