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Machine Safety Market Size 2023| Share, Growth, Trends 2028

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The latest research study “Machine Safety Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Machine safety involves using various safeguards and devices to protect machinery and its operators. Some commonly used safety devices are safety interlock switches, emergency stop devices, safety sensors, safety curtain lights, protective clothes, presence sensor devices, safety controllers, relays, and modules. They assist in protecting workers from moving parts, hot surfaces, and sharp edges of machines that might cause serious workplace injuries or accidents. Since they eliminate mechanical hazards, machine safety devices find extensive applications across various industries, such as automotive, manufacturing, healthcare, semiconductor, oil and gas, food and beverage (F&B), and power generation.

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Machine Safety Market Trends and Drivers:

The global machine safety market is primarily driven by rising workplace accidents and growing safety awareness in the industrial sector. Moreover, the surging investments in the upgradation of existing machinery to increase production capacity and the rising demand for industrial automation products are accelerating the product adoption rate.

Additionally, governments of various countries and international organizations, including the International Electrotechnical Commission (IEC) and the International Organization for Standardization (ISO), are implementing stringent safety regulations for machinery. In line with this, the increasing need for industries and manufacturing units to comply with these standards is propelling market growth.

Furthermore, several key players are launching innovative product variants to improve machine safety, efficacy, and reliability. Other factors, including the emergence of Industry 4.0, surging adoption of the internet of things (IoT) solutions, rapid industrialization, and growing occupational safety awareness among workers, are also anticipated to drive the market further.

Global Machine Safety Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Machine Safety Companies:

ABB Ltd, Banner Engineering Corp., Emerson Electric Co., Honeywell International Inc., IDEC Corporation, Keyence Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Pilz GmbH & Co. KG, Rockwell Automation Inc., Schneider Electric SE, Sick AG and Siemens AG.

The report has segmented the market on the basis of region, implementation, component and end use industry.

Breakup by Implementation:

  • Individual Components
  • Embedded Components

Breakup by Component:

  • Presence Sensing Safety Sensors
  • Emergency Stop Devices
  • Safety Interlock Switches
  • Safety Controller/Modules/Relays
  • Others

Breakup by End Use Industry:

  • Automotive
  • Electronics and Semiconductors
  • Food and Beverages
  • Healthcare and Pharmaceuticals
  • Metals and Mining
  • Oil and Gas
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=5173&flag=C

If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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