Machine Safety Market Report: Insights on Product Types (Safety Sensors, Safety Controllers, Safety Interlocks, Safety Relays, Safety Switches, Others), Implementation Strategies (Individual Components, Embedded Components, Fully Integrated Safety Systems), and End-Use Industries (Automotive, Food and Beverage, Healthcare, Aerospace and Defense, Chemical, Oil and Gas, Others) with a Forecast Through 2033
The Machine Safety Market is projected to grow from USD 5,500 million in 2022 to USD 7,100 million by 2033, demonstrating a compound annual growth rate (CAGR) of 5.5% during the 2023-2033 forecast period.
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This market has experienced notable expansion in recent years, driven by a heightened focus on workplace safety and the enforcement of government regulations that mandate stringent safety measures across various sectors. As awareness of workplace safety increases and the adoption of sophisticated safety systems accelerates, the market is poised for sustained growth in the forthcoming years.
Market Drivers and Trends:
The growth of the machine safety market is being significantly driven by stringent safety regulations. In response to rising workplace accidents and inadequate public safety management, both governmental and international organizations are enforcing strict machine safety mandates. These regulations aim to facilitate safer machinery use and enhance overall safety management. For example, in August 2021, the Bureau of Indian Standards (BIS) implemented 32 ISO standards in accordance with the Indian Standard (Type - A) for Electrical Machine: 16504 (Part 1): 2017 / IEC 60204 -1: 2008, thanks to the support from the Global Project Quality Infrastructure (GPQI). The GPQI collaborates with the Indian sector to adopt international standards in partnership with VDMA. The establishment of the Das Komitee Safety of Machinery (MED 40) by BIS will facilitate the adoption of thirty-two ISO standards. This initiative is crucial for making machinery safety a standard practice in India, and experts have highlighted the need for clear machinery regulations. Through various expert exchanges, GPQI fosters a shared understanding of the challenges faced by the German equipment sector in India. Furthermore, German specialists have presented the EU Machinery Safety Directive to the Indian DHI as a foundational model for developing local standards. These standards aim to reduce technical trade barriers while simultaneously safeguarding workers and the environment. Thus, the imposition of rigorous machine safety mandates continues to drive growth in the machine safety market.
Another key trend shaping the machine safety market is technological advancement. Leading companies are focused on integrating advanced solutions to strengthen their market presence. Many are adopting next-generation technologies, such as ultrasound, infrared, magnetic, radio technology, laser scanners, safety controllers, encoders, interlock switches, and others, to detect potential mechanical issues and mitigate injury risks associated with machinery. For instance, in August 2021, OMRON Corporation, a Japanese electronics company, introduced the VT-S10 Series. This innovative inspection system utilizes artificial intelligence and image technology to automate high-precision processes for PCB sub-assemblies.
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Report Scope and Attributes
Description:
Detailed insights on production, consumption, company share, company heatmap, company production capacity, growth factors, and more.
Market Size in 2022:
USD 5,500 Million
Market Forecast in 2033:
USD 7,100 Million
CAGR % (2023-2033):
5.5%
Base Year:
2022
Historic Data:
2020-2021
Forecast Period:
2023-2033
Segments Covered:
Product Type, Implementation, End Use Industry
Regional Scope:
North America, Europe, APAC, South America, Middle East, and Africa
Country Scope:
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
Key Companies:
Rockwell Automation
Schneider Electric
ABB
Honeywell International Inc.
Siemens AG
Omron Corporation
Emerson Electric Co.
Pilz GmbH Co. KG
SICK AG
Keyence Corporation
Machine Safety Market - Segmental Analysis
Based On Product Type:
- Safety Sensors
- Safety Controllers
- Safety Interlocks
- Safety Relays
- Safety Switches
- Others
Based On Implementation:
- Individual Components
- Embedded Components
- Fully Integrated Safety Systems
Based On End Use Industry:
- Automotive
- Food and Beverage
- Healthcare
- Aerospace and Defense
- Chemical
- Oil and Gas
- Others
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