Machine Safety Market Size, Share, Growth Report 2032

Machine Safety Market Insights

According to a report from Zion Market Research, the global Machine Safety Market was valued at USD 5.21 Billion in 2023 and is projected to hit USD 8.66 Billion by 2032, with a compound annual growth rate (CAGR) of 5.8% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Machine Safety Market industry over the next decade.

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Machine safety is the systems used in industries to ensure the safety of machines and workers operating around the machine. Various types of safety devices and systems are employed to provide a safe working environment to the employees and prevent a kind of mishap. These machine safety systems involve sensors that detect the possible threats and implement the changes to ensure the safety of the workers. Ex. Interlocks detects human presence and stops the motor to ensure safety.

The machine safety is increasingly being implemented across the industries due to strict machine safety regulations and to assure a safe working environment for workers.

The emerging trend of integrating of IoT with the safety is getting popular among the end user industries. IoT systems transmits data to monitoring systems and provide quick and real - time solutions in case of mishap.

Machine Safety Market Growth Factors

The machine safety market is primarily driven by rapid industrialization, leading to deployment of machines with higher productivity and efficiency. The increase in the number of accidents at production facilities is another major factor driving the market. Owing to growing industrialization, industrial manufacturers around the globe are focusing on cost-effective and fast production and hence they are deploying new and advance machinery to ensure higher productions. This is expected to drive the demand for machine safety systems. In addition to this, rising concerns for employee safety and asset protection are contributing to demand for machine safety systems. Further, growing business expansions following the stringent government regulations for safety of workers are estimated to drive the market demand in the forecast period. The leading economies are investing in their manufacturing sector to decline their dependence on other countries, boost their economy and to create new job opportunities. This development of the manufacturing industry is estimated to drive the market demand in the forecast period.

Component Segment Analysis Preview

The Presence sensing safety sensor segment held a share of around 36.79% in 2020. This is attributable to the growing need for security requirements to ensure the safety of workers and conduct efficient production. The strict international and national regulations for employee safety at the workplace are forcing manufacturers to implement machine safety systems to provide a secure working environment for the workers. The features of presence sensing safety sensors like detecting possible threat and implementing programmed instructions like making threat alert and stops the machine on detection of humans in machine premises. These features are majorly contributing to the dominance of the Presence sensing safety sensor segment. The rising trend of automation in the industries across the globe is estimated to drive the segment growth in the forecast period.

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End Use Industry Segment Analysis Preview

Oil and gas segment will grow at a CAGR of over 5.8% from 2024 to 2028. This is attributable to rising demand for automation products in the industry is creating demand for machine safety in the industry. The automation enables upgradation of existing machinery, this is driving the need for machine safety systems. The technological advancements are leading to an upsurge in the demand for machine safety systems.

Machine Safety Market: Report Scope

Machine Safety Market Regional Analysis

The European region held a share of 27.05% in 2020. This is attributable to stringent regulations for machine safety standards by authority bodies within the European region. These regulations prohibit the use of machinery who fails to meet the machine safety standards mentioned by the regulatory authorities. To ensure efficient production and safety of employee’s manufacturers in all European Union Countries implement machine safety systems.

The Asia Pacific region is projected to grow at a CAGR of 7.8% over the forecast period. This surge is due to rising investments in the industrial sector in the APAC region. China, among the other countries in this region, is anticipated to have higher demand for machine safety systems in the forecast period. The dominance of China is due to government initiatives towards advance manufacturing and the rapidly growing manufacturing industry are contributing to demand for machine safe safety systems. In addition to this, rising employee safety awareness and technical safety regulations are driving the market growth in this region.

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Machine Safety Market Key Market Players & Competitive Landscape

Some key players in the machine safety market are:

• Emerson Electric Co.
• ABB Ltd.
• Schneider Electric SE
• Emerson Electric Co.
• Honeywell International Inc.
• Rockwell Automation
• Siemens AG
• General Electric Co.
• Keyence Corporation
• Banner Engineering Corp.

The leading market players are implementing strategies like mergers and acquisitions, collaborations and partnerships. Companies are focusing on new product innovations to technological advancements.

Ex. In October 2020, ABB a leading automation company offering machine safety systems and solutions. The company had launched manufacturing processes safety software. This software helps risk assessments based on digitalized safety data.

The global machine safety market is segmented as follows:

By Component

• Safety Interlock Switches
  • Electromechanical
  • Hinge Pin
  • Limit Switches
  • Non-Contact Interlock Switches
  • Tongue Interlock Switches
  • Trapped Key Interlock Switches
• Presence Sensing Safety Sensors
  • Safety Edges
  • Laser Scanners
  • Safety Light Curtains
  • Safety Mats
  • Other Devices (Single & Multi-Beam Devices)
• Emergency Stop Controls
  • Push Button
  • Rope Pull Button
• Safety Controllers/Modules/Relays
• Two-Hand Safety Controls

By Implementation

• Individual Components
• Embedded Components

 By Application

• Assembly
• Metal Working
• Manufacturing
• Packaging
• Robotics
• Others (Welding and Shielding of Heavy Machinery)

End User

• Oil And Gas
• Healthcare
• Food And Beverage
• Automotive
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa