Machine Safety Market Report: Trends, Forecast and Competitive Analysis to 2030

Machine Safety Trends and Forecast

The future of the global machine safety market looks promising with opportunities in the oil and gas, healthcare, automotive, and metals and mining markets. The global machine safety market is expected to reach an estimated $8.2 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are growing emphasis on safety within the industrial sector, rigorous regulations governing the safety of machinery and equipment, as well as, increasing adoption of IIoT (Industrial Internet of Things) to ensure enhanced management and performance optimization of industrial assets.

A more than 150-page report is developed to help in your business decisions.

Machine Safety by Segment

The study includes a forecast for the global machine safety by implementation, component, end use, and region.

Machine Safety Market by Implementation [Shipment Analysis by Value from 2018 to 2030]:

• Individual
• Embedded

Machine Safety Market by Component [Shipment Analysis by Value from 2018 to 2030]:

• Safety Sensors
• Safety Interlock Switches
• Safety Controller
• Others

Machine Safety Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Oil and Gas
• Healthcare
• Automotive
• Metals and Mining
• Others

Machine Safety Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Machine Safety Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies machine safety companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the machine safety companies profiled in this report include-

• B&R Automation
• Schneider Electric
• Honeywell International
• Mitsubishi Electric
• Emerson Electric
• KEYENCE
• Rockwell Automation
• ABB
• Siemens

Machine Safety Market Insights

Lucintel forecasts that safety interlock switch is expected to witness highest growth over the forecast period.

APAC is expected to witness highest growth over the forecast period due to rapid industrialization and an expansion of manufacturing activities in countries like China, India, and South Korea, as well as, increasing awareness of workplace safety and the growing adoption of automation technologies in these regions.

Features of the Global Machine Safety Market

Market Size Estimates: Machine safety market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Machine safety market size by implementation, component, end use, and region in terms of value ($B).

Regional Analysis: Machine safety market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different implementation, component, end use, and regions for the machine safety market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the machine safety market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1 What is the machine safety market size?

Answer: The global machine safety market is expected to reach an estimated $8.2 billion by 2030.

Q.2 What is the growth forecast for machine safety market?

Answer: The global machine safety market is expected to grow with a CAGR of 6.0% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the machine safety market?

Answer: The major drivers for this market are growing emphasis on safety within the industrial sector, rigorous regulations governing the safety of machinery and equipment, as well as, increasing adoption of IIoT (Industrial Internet of Things) to ensure enhanced management and performance optimization of industrial assets.

Q4. What are the major segments for machine safety market?

Answer: The future of the global machine safety market looks promising with opportunities in the oil and gas, healthcare, automotive, and metals and mining markets.

Q5. Who are the key machine safety market companies?

Answer: Some of the key machine safety companies are as follows:

• B&R Automation
• Schneider Electric
• Honeywell International
• Mitsubishi Electric
• Emerson Electric
• KEYENCE
• Rockwell Automation
• ABB
• Siemens

Q6. Which machine safety market segment will be the largest in future?

Answer: Lucintel forecasts that safety interlock switch is expected to witness highest growth over the forecast period.

Q7. In machine safety market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rapid industrialization and an expansion of manufacturing activities in countries like China, India, and South Korea, as well as, increasing awareness of workplace safety and the growing adoption of automation technologies in these regions.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the machine safety market by implementation (individual and embedded), component (safety sensors, safety interlock switches, safety controller, and others), end use (oil and gas, healthcare, automotive, metals and mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?