Global Machine Safety Market is valued at approximately USD 4.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 5.4 % during the forecast period 2023-2030. Machine safety encompasses the procedures, protocols, and regulatory frameworks implemented to safeguard the welfare of individuals engaged in interactions with machinery. Ensuring machine safety is a vital aspect in workplaces where machinery is employed. By adhering to appropriate safety protocols, employers can effectively safeguard workers from accidents and injuries, thereby fostering a conducive work environment conducive to enhanced morale and productivity. The integration of technology to automate industrial operations has raised concerns regarding the efficient handling of machines and technologies involved, thereby driving the machine safety market. Strict government regulations in industries utilizing heavy and modern machinery aim to prevent damage and loss, thus fostering demand for products and services within this market.
The integration of AI and technologies into industries for automation has been increasing since the onset of the pandemic, driven by regulations promoting contactless operations. According to the International Federation of Robotics, the latest World Robotics report reveals a record-breaking installation of 517,385 new industrial robots in global factories during 2021, marking a 31% year-on-year growth and surpassing the pre-pandemic installation record of 2018 by 22%. Presently, the worldwide inventory of operational robots has reached an unprecedented high of approximately 3.5 million units. The increasing moral standards by industries for the welfare of the employees is on the rise which is a vital opportunity for the Machine Safety Market to grow in the forecasted period. However, the lack of awareness of certain vital safety products and services tends to act as a barrier to the effective utilization of the machines and equipment in various industries.
The key regions considered for the Global Machine Safety Market study include Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the stringent regulatory frameworks by the government emphasizing workplace safety and employee welfare along with the integration of technology into the operations have been great contributors to the market in that region. Asia Pacific is expected to grow significantly over the forecast period, owing to the burgeoning industrial advancements in China and India, coupled with the proliferation of robotic utilization and increasing foreign direct investments aimed at establishing novel industrial frameworks, significantly expanding the potential of the Machine Safety Market.
Major market player included in this report are:
- Schneider Electric
- Honeywell International, Inc.
- ABB
- Rockwell Automation, Inc.
- Siemens AG
- OMRON Corporation
- Emerson Electric Co.
- General Electric
- Mitsubishi Electric Corporation
- Sick AG
Recent Developments in the Market:
- In December 2023, Honeywell Automation India Limited secured a contract with Reliance Life Sciences (RLS) to deploy advanced building management and safety technology solutions. Under this collaboration, Honeywell is now responsible for supplying, installing, testing, and commissioning integrated building management systems, including fire detection and voice evacuation systems, across multiple RLS plants located in Nashik, Maharashtra, India.
- In December 2023, Siemens Smart Infrastructure is boosting fire safety for Building X with new apps and an API for greater transparency. This enhances user experience, performance, and sustainability, integrated within Siemens Xcelerator, enabling seamless digital transformation for customers.
- In October 2022, OMRON introduces the Safety Virtual Experience: A comprehensive guide to secure automation in adaptable manufacturing environments. The Safety Virtual Experience offered by OMRON offers a comprehensive perspective on safety solutions tailored for factory floors in automotive and intralogistics sectors, providing a 360-degree insight.
Global Machine Safety Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Offerings, Component, Process Industry, Discrete Industry, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Offerings:
By Components:
- Presence Detection Sensors
- Safety Controllers/Modules/Relays
- Programmable Safety Systems
- Safety Interlock Switches
- Emergency Stop Controls
- Two-Hand Safety Controls
By Process Industry:
- Chemicals
- Food & Beverages
- Metals & Mining
- Oil & Gas
- Pharmaceuticals
- Power Generation
- Others
By Discrete Industry:
- Aerospace
- Automotive
- Semiconductor & Electronics
- Others
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Machine Safety Market, by Region, 2020-2030 (USD Billion)
- 1.2.2.Machine Safety Market, by Offerings, 2020-2030 (USD Billion)
- 1.2.3.Machine Safety Market, by Components, 2020-2030 (USD Billion)
- 1.2.4.Machine Safety Market, by Process Industry, 2020-2030 (USD Billion)
- 1.2.5.Machine Safety Market, by Discrete Industry, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Machine Safety Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Machine Safety Market Dynamics
- 3.1.Machine Safety Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Rising adoption of Industry Automation
- 3.1.1.2.Strict standards of regulation for safety enhancement in workplaces
- 3.1.2.Market Challenges
- 3.1.2.1.Lack of consumer awareness on the necessity for machine safety products and services.
- 3.1.2.2.High initial cost of the Machine Safet Products and Services
- 3.1.3.Market Opportunities
- 3.1.3.1.The rising ethical consciousness within industries concerning the upliftment and welfare of workers.
- 3.1.3.2.The rise in the adoption of hazardous machinery and equipment across various industries.
Chapter 4.Global Machine Safety Market Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economical
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Machine Safety Market, by Offerings
- 5.1.Market Snapshot
- 5.2.Global Machine Safety Market by Offerings, Performance - Potential Analysis
- 5.3.Global Machine Safety Market Estimates & Forecasts by Offerings 2020-2030 (USD Billion)
- 5.4.Machine Safety Market, Sub Segment Analysis
- 5.4.1.Systems
- 5.4.2.Sensors
Chapter 6.Global Machine Safety Market, by Components
- 6.1.Market Snapshot
- 6.2.Global Machine Safety Market by Components, Performance - Potential Analysis
- 6.3.Global Machine Safety Market Estimates & Forecasts by Components 2020-2030 (USD Billion)
- 6.4.Machine Safety Market, Sub Segment Analysis
- 6.4.1.Presence Detection Sensors
- 6.4.2.Safety Controllers/Modules/Relays
- 6.4.3.Programmable Safety Systems
- 6.4.4.Safety Interlock Switches
- 6.4.5.Emergency Stop Controls
- 6.4.6.Two-Hand Safety Controls
Chapter 7.Global Machine Safety Market, by Process Industry
- 7.1.Market Snapshot
- 7.2.Global Machine Safety Market by Process Industry, Performance - Potential Analysis
- 7.3.Global Machine Safety Market Estimates & Forecasts by Process Industry 2020-2030 (USD Billion)
- 7.4.Machine Safety Market, Sub Segment Analysis
- 7.4.1.Chemicals
- 7.4.2.Food & Beverages
- 7.4.3.Metals & Mining
- 7.4.4.Oil & Gas
- 7.4.5.Pharmaceuticals
- 7.4.6.Power Generation
- 7.4.7.Others
Chapter 8.Global Machine Safety Market, by Discrete Industry
- 8.1.Market Snapshot
- 8.2.Global Machine Safety Market by Discrete Industry, Performance - Potential Analysis
- 8.3.Global Machine Safety Market Estimates & Forecasts by Discrete Industry 2020-2030 (USD Billion)
- 8.4.Machine Safety Market, Sub Segment Analysis
- 8.4.1.Aerospace
- 8.4.2.Automotive
- 8.4.3.Semiconductor & Electronics
- 8.4.4.Others
Chapter 9.Global Machine Safety Market, Regional Analysis
- 9.1.Top Leading Countries
- 9.2.Top Emerging Countries
- 9.3.Machine Safety Market, Regional Market Snapshot
- 9.4.North America Machine Safety Market
- 9.4.1.U.S. Machine Safety Market
- 9.4.1.1.Offerings breakdown estimates & forecasts, 2020-2030
- 9.4.1.2.Components breakdown estimates & forecasts, 2020-2030
- 9.4.1.3.Process Industry breakdown estimates & forecasts, 2020-2030
- 9.4.1.4.Discrete Industry breakdown estimates & forecasts, 2020-2030
- 9.4.2.Canada Machine Safety Market
- 9.5.Europe Machine Safety Market Snapshot
- 9.5.1.U.K. Machine Safety Market
- 9.5.2.Germany Machine Safety Market
- 9.5.3.France Machine Safety Market
- 9.5.4.Spain Machine Safety Market
- 9.5.5.Italy Machine Safety Market
- 9.5.6.Rest of Europe Machine Safety Market
- 9.6.Asia-Pacific Machine Safety Market Snapshot
- 9.6.1.China Machine Safety Market
- 9.6.2.India Machine Safety Market
- 9.6.3.Japan Machine Safety Market
- 9.6.4.Australia Machine Safety Market
- 9.6.5.South Korea Machine Safety Market
- 9.6.6.Rest of Asia Pacific Machine Safety Market
- 9.7.Latin America Machine Safety Market Snapshot
- 9.7.1.Brazil Machine Safety Market
- 9.7.2.Mexico Machine Safety Market
- 9.8.Middle East & Africa Machine Safety Market
- 9.8.1.Saudi Arabia Machine Safety Market
- 9.8.2.South Africa Machine Safety Market
- 9.8.3.Rest of Middle East & Africa Machine Safety Market
Chapter 10.Competitive Intelligence
- 10.1.Key Company SWOT Analysis
- 10.2.Top Market Strategies
- 10.3.Company Profiles
- 10.3.1 Schneider Electric
- 10.3.1.1.Key Information
- 10.3.1.2.Overview
- 10.3.1.3.Financial (Subject to Data Availability)
- 10.3.1.4.Product Summary
- 10.3.1.5.Recent Developments
- 10.3.2.Honeywell International, Inc.
- 10.3.3.ABB
- 10.3.4.Rockwell Automation, Inc.
- 10.3.5.Siemens AG
- 10.3.6.OMRON Corporation
- 10.3.7.Emerson Electric Co.
- 10.3.8.General Electric
- 10.3.9.Mitsubishi Electric Corporation
- 10.3.10.Sick AG
Chapter 11.Research Process
- 11.1.Research Process
- 11.1.1.Data Mining
- 11.1.2.Analysis
- 11.1.3.Market Estimation
- 11.1.4.Validation
- 11.1.5.Publishing
- 11.2.Research Attributes
- 11.3.Research Assumption