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Press Release
Machine Safety Market is expected to grow CAGR of 5.3% by 2030
Fortune Business Insights recently released “The Machine Safety Market Report 2024,” offering in-depth market analysis and critical insights to help clients gain a competitive edge. This comprehensive study delivers key findings for strategic advantage.
Machine Safety Market Share, Size & COVID-19 Impact Analysis, By Product Type (Safety Sensors & Switches, Safety Controllers/ Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls, and Others (Light Curtains & Scanners)), By Application (Security and Detention, Automotive, Electronics and Electrical, Food and Packaging, Logistics & Automation, Life Sciences, Oil & Gas, Semiconductor, and Others (Processing)), and Regional Forecast, 2023 – 2030
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The market’s competitive landscape for machine safety market is evaluated by analyzing key industry players, their production capacities and utilization rates, machine safety marketM’s production chain, manufacturer pricing, and the revenue each manufacturer generates globally in the machine safety marketM sector.
Major companies of machine safety market:
- 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.)
Market atributes:
| Report Componant | Aspects |
| Forecast Period | 2022-2030 |
| Projected Market Value for 2022: | USD 5.28 billion |
| Forecasted Market Value for 2030: | USD 7.79 billion |
| Compound Annual Growth Rate (CAGR): | 5.3 |
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Key Drivers and restraints:
- Driver: Increasing Workplace Safety RegulationsStricter safety regulations and standards across industries drive the demand for machine safety solutions to ensure compliance and reduce the risk of workplace accidents and injuries.
- Driver: Growing Automation and IndustrializationThe expansion of automation and industrialization increases the use of complex machinery, boosting the need for advanced machine safety systems to protect workers and equipment from potential hazards.
- Driver: Technological AdvancementsInnovations in safety technology, such as advanced sensors, safety controllers, and integrated safety systems, enhance the effectiveness of machine safety solutions, contributing to market growth.
- Restraint: High Implementation CostsThe significant costs associated with purchasing and integrating advanced machine safety systems can be a barrier for smaller businesses and manufacturers with limited budgets.
- Restraint: Complexity of Compliance and IntegrationEnsuring compliance with safety standards and integrating safety systems into existing machinery can be complex and time-consuming, potentially leading to additional costs and operational challenges.
Regional atributes:
- 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
Industry developments:
- December 2022: Pilz GmBH Co., Kg. launched the modular safety device for modern automated guided vehicles AGVs. The new safety laser scanner PSENScan for safeguarding AGVs that can detect objects and prevent a collision at the workplace.
- October 2022: Omron Automation, a leading safety system manufacturer, launched the Heater conditioning monitor K7TM. The monitor system provides support from preventive maintenance to prevent the failure of the heater.s
- July 2022: Pepperl+Fuchs, offering a more comprehensive sensor solution, launched a flexible pellet and conveyor lines detection sensor integrated with photoelectric and ultrasonic sensors.
- December 2019: Sick, a safety solution provider, expanded local production facilities in China that will create sensor products and construction systems in China.
Table of Content :
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Industry Developments – Merger, Acquisitions, and Partnerships
- Porter’s Five Forces Analysis
- SWOT Analysis
- Technological Developments
- Value Chain Analysis
TOC Continued…!
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