The global machine safety market size was US$ 4.1 billion in 2020. The global machine safety market size is forecast to reach the value of US$ 7.6 billion by 2030 by growing at a compound annual growth rate (CAGR) of 6.8% during the forecast period from 2021-2030.

Machine safety is a set of safety measures and devices that are implemented to prevent people from hazards. The emergency buttons, a type of machine safety device, stop the operation automatically during an emergency. 

COVID-19 Impact Analysis

Due to the onset of the COVID-19 pandemic, industrial operations were halted globally. It resulted in an economic downturn for various nations. Moreover, declining investments for plant operation halted the growth of the global machine safety market. Machine safety measures and devices are adopted by healthcare, aerospace, oil & gas, and automotive. All of these sectors, except healthcare, witnessed a significant decline in revenue generation. Thus, it ultimately declined the growth of the global machine safety market. 

Factors Influencing

• The rising industrialization, mainly in emerging countries, would propel the growth of the global machine safety market. As the new factories begin to increase in numbers, the adoption of machine safety would ultimately grow. 
• Increasing workplace accidents and related concerns may propel the growth of the global machine safety market. 
• Increasing government regulations to maintain safety standards would drive the market for machine safety. 
• The evolution of environment-friendly electric vehicles is surging the demand for machine safety. The market is forecast to grow as the demand for electric automobiles increases. 
• Rising innovation in the machine safety industry is forecast to gain huge popularity in the coming years. Rockwell Automation introduced an E100 electronic motor overload relay to obstruct the motor damage. Such innovations and launches are forecast to increase during the forecast period, thereby increasing the growth of the global machine safety market. 
• The demand for massive capital for installation may slow down the growth of the overall market during the analysis period. 

Geographic Analysis

Europe is forecast to register the highest revenue in the global machine safety market. It is because of the growing machine safety standards and favorable government policies in the European Economic Area. Apart from that, the presence of automotive manufacturers may garner the growth of the global machine safety market during the analysis period. In addition, the trending automation in the automotive industry is forecast to propel market growth in the future.

North America is forecast to be the second-largest shareholder in the global machine safety market due to the presence of various leading players such as Honeywell, Rockwell, Banner Engineering, etc. On the other hand, the market would witness considerable growth in the Asia Pacific region because of growing industrialization in developing economies such as China and India.

Competitors in the Market

• ABB
• Honeywell International Inc.
• Schneider Electric
• Rockwell Automation, Inc.
• Siemens
• Yokogawa Electric Corporation
• OMRON Corporation
• KEYENCE CORPORATION
• Mitsubishi Electric Corporation
• SICK AG
• Other prominent players

Market Segmentation

Machine Safety Market by Implementation

• Individual components
• Embedded components

Machine Safety Market by Component

• Presense Sensing Safety Sensors
  • Safety Edges
  • Laser Scanners
  • Safety Light Curtains
  • Safety Mats
  • Other Devices (single & multi-beam devices)
• Safety Interlock Switches
  • Electromechanical
  • Hinge Pin
  • Limit Switches
  • Non-contact Interlock Switches
  • Tongue Interlock Switches
  • Trapped Key Interlock Switches
• Safety Controllers/Modules/Relays
  • Programmable Safety Systems
  • Emergency Stop Controls
  • Push Button
  • Rope Pull Button
  • Two-hand Safety Controls

Machine Safety Market by System

• Assembly
• Material Handling
• Metal Working
• Packaging
• Robotics
• Others (welding and shielding of heavy machinery)

Machine Safety Market by Industry

• Oil & Gas
• Energy & Power
• Chemicals
• Food & Beverages
• Aerospace & Defense
• Automotive
• Semiconductor & Electronics
• Healthcare and Pharmaceuticals
• Metals & Mining

Machine Safety Market by Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America