Safety Switches Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Fusible Safety Switch, Non-Fusible Safety Switch), By Installation Type (Switchboard Safety Switches, Powerpoint Safety Switches, Portable Safety Switches), By Product Type (Electro-mechanical Safety Switches, Non-contact Safety Interlock Switches, Safety Locking Devices, Safety Command Devices, Others), By Application (Light Duty Applications, Heavy Duty Applications), By End-User (Industrial, Commercial, Residential), And By Geography- Forecasts From 2020 To 2025

Published:  Aug 2021 Report Code: KSI061611489 Pages: 129

The safety switches market is anticipated to grow at a CAGR of 6.23% in order to attain a market size of US$2.681 billion by 2025, from US$1.865 billion in 2019. The market is expected to grow at a significant pace owing to immense application in various end-use industry verticals.

The potential application of safety switches in service entrance or providing protection against faults is driving the market demand in the forecast period. The growing concerns regarding the safety and security of industry personnel are further providing an impetus in burgeoning the market growth during the forecast period. Furthermore, the market is projected to grow at a significant pace due to the adoption of automation solutions in the hazardous industrial environment. Also, the presence of stringent regulations for the safety of the equipment and personnel is adding to the market growth. The increasing adoption of non-contact switches across various industries in high-safety areas will further boost the market growth over the next five years.  

On the basis of product type, the safety switches market has been segmented into electro-mechanical safety switches, non-contact safety interlock switches, safety locking switches, and safety command devices, and others. Non-contact safety interlock switches are extensively used across industries owing to their compactness and the non-contact way to interlock doors, guards, gates and etc. These switches are suitable in areas where a high level of protection against tampering is required, machine doors subject to heavy vibration, precise door guide not possible, and in wet, dusty, and oily environments

On the basis of application, the safety switches market has been broadly segmented into light-duty applications and heavy-duty applications. Heavy-duty safety switches hold a significant share in the market as they are used for commercial and industrial applications where safety, high performance, and continuity of service are essential. These switches provide increased safety with the whole range of fusible and non-fusible safety switches and are easy to install and easy to maintain.

On the basis of end-user, the safety switches market has been broadly segmented into industrial, commercial, and residential. Safety switches are increasingly used in industrial automation which includes manufacturing, healthcare, and the oil & gas industry among other industries. The installation of safety switches as per the requirement is done to ensure the safety of people and equipment at the place. Big industries such as the manufacturing industry, and the oil & gas industry utilize high-performance safety switches so as to ensure the safety and continuity of machinery.

Geographically, the safety switches market has been segmented into North America, Europe, Middle East & Africa, Asia-Pacific, and the South American region. Asia Pacific region is expected to grow at a fast pace over the forecast period owing to the increasing use of complex machinery so as to meet the rising demand for various products, having a high consumer base. The burgeoning automation in industries, rapid urbanization, and expanding manufacturing activities will drive the growth of the safety switches market in the region.

The presence of stringent regulations on industrial safety is driving the market growth in the forecast period.

It is important to maintain a safe and healthy working environment and in order to achieve these conditions, the industries must comply with the government regulatory standards failing to which may lead to deleterious effects for the company and the individual both. Many people are killed every year on the industrial site and many suffer from work-related disabilities. This results in no or poor work output thus bringing in the loss to the company and business. However, it is not possible to eliminate the cause of accidents, but one can make arrangements to provide shielding in order to provide safety and avoid such mishappenings. Thus, regulatory standards provide safety against these untoward incidents.

One of the examples includes the Occupational Safety and Health Act (OSHA) which came into force in 1970. The role of OSHA is to help and ensure safe workplaces for men and women in America. Under the Act, the workers receive training and education regarding hazards in workplaces, prevention methods, and OSHA standards applicable to a particular workplace.  All businesses are required to comply with OSHA standards.

The OSH Act covers most of the private sector employers and their workers, also some of the public employers and workers in the 50 states and certain territories and jurisdictions fall under the federal authority. The jurisdictions include the District of Columbia, Puerto Rico, the Virgin Islands, American Samoa, Guam, Northern Mariana Islands, Wake Island, Johnston Island, and the Outer Continental Shelf Lands as defined in the Outer Continental Shelf Lands Act.

Growing industrial automation will pave way for the use of safety switch devices in the upcoming years.

Global industrial automation is expected to soar in the upcoming years with the growing inclination towards the adoption of digitized technologies. Also, with the growing labour charges, there is a high demand for creating automated solutions for failure management in the future. The growing need for the reduction of the risk of accidents in industrial sites is fueling the market demand in the coming years, with burgeoning high demand for effective automation solutions such as the use of an automated safety switch. With advancements in technology, the market is expected to see robust growth in the upcoming years. Furthermore, the increasing need to cut the overall cost of production is augmenting the market demand, with growing automation in industries. Automation allows organizations to get real-time information regarding processes, and hence, continuous monitoring is also possible. The emergence of the industrial internet of things (IIoT) is further supporting the use of automation in industries, promoting market growth as well in the coming years.

Rapid urbanization is fueling the market demand in the forecast period.

Rapid urbanization, along with the global population rise has resulted in the expansion of cities, complex infrastructure development, rapid industrialization, and technological advancements with the evolving needs of the consumers. This is due to the changing living conditions of the urban population in order to keep pace with the fast life of cities. Additionally, as the bigger cities demand more energy in order to suffice the need of their large population, there is a high demand for facilities as well. With developments in the infrastructure sector (residential, commercial, and industrial), the market demand for safety switches is expected to surge in the forecast period and in the upcoming years. As per the United Nations estimates, by 2030, around USD57 trillion is required for urban infrastructure investment. The number of inhabitants in housing is estimated to grow from over 1 billion in 2017 to 3 billion in 2030, with the rise of the urban population.

Safety Switches Market Scope:

Report Metric Details
 Market size value in 2019  US$1.865 billion
 Market size value in 2025  US$2.681 billion
 Growth Rate  CAGR of 6.23% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Type, Installation Type, Product Type, Application, End-User, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  OMRON Corporation, ABB, Schneider Electric, SICK AG, Panasonic Corporation,   Honeywell International Inc., Rockwell Automation, Inc., IDEC Corporation, Siemens,   Leuze electronic GmbH
 Customization scope  Free report customization with purchase.

 

Segmentation:

  • By Type
    • Fusible safety switch
    • Non-Fusible safety switch
  • By Installation Type
    • Switchboard safety switches
    • Powerpoint safety switches
    • Portable safety switches
  • By Product Type
    • Electro-mechanical safety switches
    • Non-contact safety interlock switches
    • Safety locking devices
    • Safety command devices
    • Others
  • By Application
    • Light duty applications
    • Heavy duty applications
  • By End-User
    • Industrial
    • Commercial
    • Residential
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • UK
      • Germany
      • France
      • Others
    • Middle East and Africa
      • UAE
      • Israel
      • Saudi Arabia
      • Others
    • Asia Pacific
      • Japan
      • China
      • India
      • Australia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the safety switches market by 2025?
A1. The safety switches market is anticipated to reach a market size of US$2.681 billion in 2025.


Q2. What is the size of the safety switches market?
A2. Safety Switches Market was valued at US$1.865 billion in 2019.


Q3. What are the growth prospects for the safety switches market?
A3. The global safety switches market is anticipated to grow at a CAGR of 6.23% over the forecast period.


Q4. Which market holds the maximum market share of the safety switches market?
A4. Asia Pacific region is expected to grow at a fast pace over the forecast period owing to the increasing use of complex machinery so as to meet the rising demand for various products, having a high consumer base. 


Q5. What factors are anticipated to drive the safety switches market growth?
A5. The presence of stringent regulations on industrial safety is driving the safety switches market growth in the forecast period.

 
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
 
2. Research Methodology
2.1. Research Data
2.2. Assumptions
 
3. Executive Summary
3.1. Research Highlights
 
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
 
5. Safety Switches Market Analysis, by Type
5.1. Introduction
5.2. Fusible safety switch
5.3. Non-Fusible safety switch
 
6. Safety Switches Market Analysis, by Installation Type
6.1. Introduction
6.2. Switchboard safety switches
6.3. Powerpoint safety switches
6.4. Portable safety switches
 
7. Safety Switches Market Analysis, by Product Type
7.1. Introduction
7.2. Electro-mechanical safety switches
7.3. Non-contact safety interlock switches
7.4. Safety locking devices
7.5. Safety command devices
7.6. Others
 
8. Safety Switches Market Analysis, by Application
8.1. Introduction
8.2. Light duty applications
8.3. Heavy duty applications
 
9. Safety Switches Market Analysis, by End-User
9.1. Introduction
9.2. Industrial
9.3. Commercial
9.4. Residential
 
10. Safety Switches Market Analysis, by Geography
10.1. Introduction
10.2. North America
10.2.1. North America Safety Switches Market, By Type, 2019 to 2025
10.2.2. North America Safety Switches Market, By Installation Type, 2019 to 2025
10.2.3. North America Safety Switches Market, By Product Type, 2019 to 2025
10.2.4. North America Safety Switches Market, By Application, 2019 to 2025
10.2.5. North America Safety Switches Market, By End-User, 2019 to 2025
10.2.6. By Country
10.2.6.1. United States
10.2.6.2. Canada
10.2.6.3. Mexico
10.3. South America
10.3.1. South America Safety Switches Market, By Type, 2019 to 2025
10.3.2. South America Safety Switches Market, By Installation Type, 2019 to 2025
10.3.3. South America Safety Switches Market, By Product Type, 2019 to 2025
10.3.4. South America Safety Switches Market, By Application, 2019 to 2025
10.3.5. South America Safety Switches Market, By End-User, 2019 to 2025
10.3.6. By Country
10.3.6.1. Brazil
10.3.6.2. Argentina
10.3.6.3. Others
10.4. Europe
10.4.1. Europe Safety Switches Market, By Type, 2019 to 2025
10.4.2. Europe Safety Switches Market, By Installation Type, 2019 to 2025
10.4.3. Europe Safety Switches Market, By Product Type, 2019 to 2025
10.4.4. Europe Safety Switches Market, By Application, 2019 to 2025
10.4.5. Europe Safety Switches Market, By End-User, 2019 to 2025
10.4.6. By Country
10.4.6.1. UK
10.4.6.2. Germany
10.4.6.3. France
10.4.6.4. Others
10.5. Middle East and Africa
10.5.1. Middle East and Africa Safety Switches Market, By Type, 2019 to 2025
10.5.2. Middle East and Africa Safety Switches Market, By Installation Type, 2019 to 2025
10.5.3. Middle East and Africa Safety Switches Market, By Product Type, 2019 to 2025
10.5.4. Middle East and Africa Safety Switches Market, By Application, 2019 to 2025
10.5.5. Middle East and Africa Safety Switches Market, By End-User, 2019 to 2025
10.5.6. By Country
10.5.6.1. United Arab Emirates
10.5.6.2. Israel
10.5.6.3. Saudi Arabia
10.5.6.4. Others
10.6. Asia Pacific
10.6.1. Asia Pacific Safety Switches Market, By Type, 2019 to 2025
10.6.2. Asia Pacific Safety Switches Market, By Installation Type, 2019 to 2025
10.6.3. Asia Pacific Safety Switches Market, By Product Type, 2019 to 2025
10.6.4. Asia Pacific Safety Switches Market, By Application, 2019 to 2025
10.6.5. Asia Pacific Safety Switches Market, By End-User, 2019 to 2025
10.6.6. By Country
10.6.6.1. Japan
10.6.6.2. China
10.6.6.3. India
10.6.6.4. Australia
10.6.6.5. Others
 
11. Competitive Environment and Analysis
11.1. Major Players and Strategy Analysis
11.2. Emerging Players and Market Lucrativeness
11.3. Mergers, Acquisitions, Agreements, and Collaborations
11.4. Vendor Competitiveness Matrix
 
12. Company Profiles
12.1. OMRON Corporation
12.2. ABB
12.3. Schneider Electric
12.4. SICK AG
12.5. Panasonic Corporation
12.6. Honeywell International Inc.
12.7. Rockwell Automation, Inc.
12.8. IDEC Corporation
12.9. Siemens
12.10. Leuze electronic GmbH

OMRON Corporation

ABB

Schneider Electric

SICK AG

Panasonic Corporation

Honeywell International Inc.

Rockwell Automation, Inc.

IDEC Corporation

Siemens

Leuze electronic GmbH

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