Machine Safety Market Estimated To Experience A Hike In Growth By 2024-2031

June 8, 2021

Machine safety systems are aggressively being used for fire and gas monitoring as they offer a platform to enhance operational efficiencies and increase productivity while safeguarding workers.
Machines have the potential to cause damage and severe injuries at the workplace; hence, safeguarding the machines, and its parts, processes, or functions, is essential to protect the workers from these injuries. The impact of such instances on the environment, workers, and production has become critical for manufacturers. Companies are more inclined to adopt safety systems that provide security to employees through sustainable strategic programs.
A machine safety system includes components such as presence sensing sensor devices, emergency stop devices, safety interlock switches, and safety controllers/modules/relays.

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Increasing number of accidents at workplaces, along with the rising emphasis on proactive industrial safety is driving the growth of the machine safety market.
Assembling is a fast and continuous process involving the movement of machinery and hazardous equipment that can cause harm to workers. Therefore, prevention of these accidents is the primary focus of organizations due to increasing attention on machine safety. Implementation of machine safety systems in assembly lines act as a shield, covering the hazardous areas of a machine to prevent any damage to the human body.
Increasing adoption and improvement in safety devices such as safety curtains with the integration of light and digital indicators, along with the development of Industrial Revolution 4.0 can be seen as a potential growth opportunity of this market.
Further, in several cases, security factors also impact the demand for machine safety equipment, especially in the oil & gas industry. For instance, gas and oil pipelines are often prone to insurgent attacks and theft, hence leading to an increased need for automated and robust emergency stop systems and devices that support remote operations.

In terms of region, the global machine safety market can be divided into Asia Pacific, Europe, North America, Middle East & Africa, and South America.
Asia Pacific is anticipated to witness highest CAGR in the market owing to the growing investments in the industrial sector in the region. China is the largest market in Asia Pacific for machine safety products by revenue, with a roughly 40% share. In addition, the gradual improvement of technical safety standards, continuous strengthening of personal safety awareness, and gradual participation of the state and enterprises in market promotion has also accelerated the growth of the machine safety market in the country.
The market in Europe is expected to grow at a significant rate during the forecast period as it is a leading player in automation. Machinery Directive 2006/45/EU is the legislation governing machine safety requirements in Europe. It benefits harmonization with a combination of safety and health requirements. This is a mandatory directive, which ensures the protection of machines and workers in various organizations. This regulatory standard can increase the demand for machine safety systems in the European region.
The market in North America is predicted to expand at the highest rate during the forecast period due to presence of prominent players of machine safety systems such as Rockwell (US), Honeywell (US), and Banner Engineering (US) etc. in this region

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Global Machine Safety Market, by Implementation

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