Machine Safety Market by Growth Analysis and Precise Outlook – 2028 | Key Players – ABB Ltd. , Emerson Electric Co. , General Electric Co.
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. Another reason for the rise in demand for machine safety systems is global rapid industrialisation. Machine safety system technology developments are another factor in the market’s expansion. For instance, in order to show off the efficiency of its EcoStruxure architecture, Schneider Electric launched Smart Factory in the US in June 2019.
Key Highlights of Report
For paper and packaging producers, ABB Ltd. launched the Induction xP Plus actuator in May 2020. These actuators provide secure calliper control for calendars used with paper machines.
To avoid motor damage and minimise downtime, Rockwell Automation introduced the E100 electric motor overload relay in February 2020.
Because of the fast-paced industrialisation of nations like India, Pakistan, China, and Japan, the Asia Pacific region is anticipated to have the highest CAGR during the projection period. Additionally, government programmes like Made in China 2025 and Make in India promote the development of modern manufacturing facilities with a stronger emphasis on safety. This is a chance for the region’s market to grow even more.
ABB Ltd., Emerson Electric Co., General Electric Co., Honeywell International Inc., Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Yokogawa Electric Corp., Omron Corporation, and Keyence Corporation are significant players in the intelligent power module market.
Emergen Research has segmented global machine safety market based on implementation, component, end use, and region.
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
- Food and Beverage
Regional Outlook (Revenue, USD Billion; 2021–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- North America
Browse Full Report Description + Research Methodology + Table of Content + Infographics@ https://www.emergenresearch.com/industry-report/machine-safety-market
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