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Machine Safety Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032

Publisher Global Market Insights
Published Nov 19, 2024
Length 225 Pages
SKU # GMI19503557

Description

Machine Safety Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032


The Global Machine Safety Market was valued at USD 5.8 billion in 2023 and is projected to grow at a CAGR of 6% between 2024 and 2032, driven by the rising adoption of automation and increasingly strict regulatory standards. As industries integrate advanced automation technologies, the need for effective safety measures to protect workers and equipment has become more critical.

Despite its growth, the industry faces challenges, particularly the high initial costs of installation. Implementing advanced safety solutions, such as sensors, controllers, and protective systems, requires significant investment. This poses difficulties for small and medium-sized enterprises (SME), which often lack the resources to adopt these technologies, even though they promise long-term benefits in safety and operational efficiency.

By implementation type, the individual components segment amassed USD 3.6 billion in 2023 and is expected to grow at a CAGR of 5% through 2032. This segment includes essential safety products like sensors, which help in detecting hazards and initiating protective actions. These devices monitor various operational parameters, ensuring a safe environment around machinery by preventing accidents and system failures.

The assembly application segment accounted for a 30.3% share in 2023 and is projected to grow at a CAGR of 5.9% during 2024-2032. Assembly processes, characterized by repetitive, high-speed operations, pose significant risks to worker safety. To address these risks, a range of machine safety solutions is utilized, including sensors, emergency stop systems, and advanced robotic safety technologies. These solutions ensure safer production environments by mitigating hazards associated with assembly operations.

U.S. machine safety market generated USD 900 million in 2023 and is anticipated to grow at a CAGR of 5.9% between 2024 and 2032. The growth is driven by the advanced manufacturing sector and stringent regulatory environment. Agencies such as the Occupational Safety and Health Administration (OSHA) and the American National Standards Institute (ANSI) enforce strict workplace safety standards, compelling companies to adopt comprehensive safety measures. Additionally, the increasing use of automation and smart technologies across industries has further boosted the demand for machine safety solutions.

Table of Contents

225 Pages
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.5 Secondary
1.5.1.1 Paid sources
1.5.1.2 Public sources
Chapter 2 Executive Summary
2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Technological landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Increased focus on sustainable and environmentally friendly mining practices
3.7.1.2 Increasing automation in industries
3.7.1.3 Rising regulatory requirements and safety standards
3.7.1.4 Growing awareness about workplace safety
3.7.2 Industry pitfalls & challenges
3.7.2.1 Advancements in machine safety technologies
3.7.2.2 High initial installation costs
3.8 Growth potential analysis
3.9 Porter’s analysis
3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Market Estimates and Forecast, By Component Type, 2021 – 2032 (USD Billion) (Million Units)
5.1 Key trends
5.2 Presence sensing safety sensors
5.2.1 Safety edges
5.2.2 Laser scanners
5.2.3 Safety light curtains
5.2.4 Safety mats
5.2.5 Safety camera systems
5.2.6 Other devices (Single & Multi-beam Devices)
5.3 Safety interlock switches
5.3.1 Electromechanical
5.3.2 Hinge pins
5.3.3 Limit switches
5.3.4 Non-contact interlock switches
5.3.5 Tongue interlock switches
5.3.6 Trapped key interlock switches
5.4 Safety controllers/Modules/Relays
5.5 Programmable safety applications
5.6 Emergency stop controls
5.7 Two-hand safety controls
Chapter 6 Market Estimates and Forecast, By Implementation Type, 2021 – 2032 (USD Billion) (Million Units)
6.1 Key trends
6.2 Individual components
6.3 Embedded components
Chapter 7 Market Estimates and Forecast, By Application, 2021 – 2032 (USD Billion) (Million Units)
7.1 Key trends
7.2 Assembly
7.3 Robotics
7.4 Packaging
7.5 Material handling
7.6 Metal working
Chapter 8 Market Estimates and Forecast, By End Use Industry, 2021 – 2032 (USD Billion) (Million Units)
8.1 Key trends
8.2 Oil & gas
8.3 Aerospace
8.4 Semiconductor & electronics
8.5 Food & beverages
8.6 Automotive
8.7 Healthcare
8.8 Others
Chapter 9 Market Estimates & Forecast, By Region, 2021 – 2032, (USD Billion) (Million Units)
9.1 Key trends
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Russia
9.4 Asia Pacific
9.4.1 China
9.4.2 Japan
9.4.3 India
9.4.4 Australia
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.6 MEA
9.6.1 South Africa
9.6.2 Saudi Arabia
9.6.3 UAE
Chapter 10 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
10.1 ABB
10.2 Banner Engineering
10.3 Emerson Electric
10.4 Honeywell International
10.5 IDEC Corporation
10.6 ISE Controls
10.7 KEYENCE CORPORATION
10.8 Mitsubishi Electric Corporation
10.9 OMRON Corporation
10.10 Pepperl+Fuchs
10.11 Pilz GmbH & Co.
10.12 Rockwell Automation Inc.
10.13 Schneider Electric
10.14 SICK
10.15 Siemens
 

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