Global Machine Safety Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Component (Presence-sensing Safety Sensors, Programmable Safety Systems, Safety Controllers/ Modules/relays, Emergency Stop Devices, Safety Interlock Switches, Two-hand Safety Controls), By Implementation (Individual Components, Embedded Components), By Application (Assembly, Robotics, Material Handling, Packaging, Metalworking, Others), By Industry (Oil & Gas, Chemicals, Aerospace, Food & Beverages, Healthcare, Semiconductor & Electronics, Automotive, Others), And By Geography - Forecasts From 2021 To 2026

Global Machine Safety Market was valued at US$1,204.949 in the year 2019 and is expected to reach a market worth US$1,845.565 million by 2026, growing at a CAGR of 6.28% during the period.

The Machine Safety market includes safety devices and controls which protect a machine from unexpected damage. In an industrial setup, several types of machinery are installed and are worked upon by numerous workers. Continuous operation warms up the machine components making them prone to damage. Furthermore, improper installation, low-quality internal components, increasing heat, and human negligence have the potential to cause damage and hazards, leading to significant financial loss and loss of life. Hence machine safety solutions are employed to ensure the safe operation of machines. Growing industrialization accompanied by rising automation across industries increases the number of types of machinery in operation and hence is expected to create robust demand for machine safety solutions. Furthermore, improved operational efficiency owing to safety measures reduces significant loss and chances of potential loss caused by mishaps, making the market more attractive. The launch of new and improved products also diversifies the market scope. However, the significant initial cost may hinder the market growth.

Geographically, the machine safety market is divided into North America, South America, Europe, the Middle East, and Africa, and the Asia Pacific regions for the study. The Asia Pacific machine safety market is anticipated to surge at a promising rate during the forecast period owing to rapid industrialization in the region. The availability of a skilled labor force at low cost accompanied by promotion by industries and governments is converting the Asia Pacific region into a manufacturing hub. China, India, South Korea, Vietnam, and Thailand are leading countries that have moved or are slowly moving towards becoming manufacturing giants in the world. Furthermore, a rise in Industry 4.0 in the region is expected to create new opportunities. The rise in industrialization is projected to increase machinery and automation in the countries, creating significant demand for machine safety equipment.

The increasing adoption of robots across numerous industry verticals is projected to drive market growth.

Based on application, the machine safety market is segmented into assembly, robotics, material handling, metalworking, packaging, and others. Robotics demand for machine safety equipment is expected to grow at the fastest rate during the forecast period owing to the rise in robots’ adoption across several industry verticals. With increasing robot employment and the rise in automation, programming safety systems and safety controllers are expected to observe robust growth.

Growth Factor

• Rising industrialization and the kicking-in of Industry 4.0 are expected to create robust demand for the market.

One of the prime reasons which are projected to drive promising growth in the market for machine safety during the forecast period is booming industrialization and the rise of Industry 4.0, particularly in the Asia Pacific region, which is emerging as a fulcrum for manufacturing products.  

Covid-19 Insights

The outbreak of coronavirus forced various industries to shut down and halt operations. This negatively impacted the market for machine safety.

Key Market Segments

• By Component
  • Presence-sensing safety sensors
  • Programmable safety systems
  • Safety controllers/ modules/relays
  • Emergency stop devices
  • Safety interlock switches 
  • Two-hand safety controls
• By Implementation
  • Individual components 
  • Embedded components
• By Application
  • Assembly
  • Robotics
  • Material Handling
  • Metal Working
  • Packaging
  • Others
• By Industry
  • Oil and Gas
  • Chemical
  • Aerospace
  • Food and Beverage
  • Healthcare
  • Semiconductors & Electronics
  • Automotive
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • Spain
    • France
    • Others
  • Middle East and Africa
    • UAE
    • Saudi Arabia
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others