Global Safety Drives Market 2017-2021

Overview of the global safety drives market

Technavio's market study identifies the increasing need for energy-efficient products to be one of the primary growth factors for the safety drives market. Several process and discrete industries are taking measures to conserve energy by using energy-efficient equipment such as safety drives in their plant premises. Safety drives optimizes the energy consumption and reduces energy wastage, while providing superior operation control. Stringent regulations laid down by authorities for energy conservation and energy shortage faced by several countries influence the demand and utilization of safety drives since they offer high potential high energy savings. According to our market reseach analysts, this market will grow steadily at a CAGR of almost 7% by 2021.

The emergence of hybrid safety drives wil be one of the major trends thar will gain traction in this global market in the coming years. Safety drives are usually used for low voltage industrial applications. However, with modifications in the components, the drives can function efficiently in high and medium voltage applications. Insulated-gate bipolar transistor (IGBT) vendors are constantly focusing on developing the technology and applications of IGBT that is primarily used in low voltage and medium voltage applications. The improved IGBT technology will enable high-power applications and also help in smooth controlling, soft start and stop functions, and reverse recovery. This in turn, will help in reducing losses by almost 30%.

Competitive landscape and key vendors

The safety drives market is highly fragmented due to the presence of several international and regional vendors. Safety drive vendors are investing significantly in innovation by reducing the size and complexity of the products and attracting new customers by offering a distinct range of products at competitive price. The international vendors have monopolized the market competition in terms of durability, technological innovation, reliability, and quality.

The leading vendors in the market are -

• ABB
• Beckhoff
• Rockwell Automation
• Siemens
• SIGMATEK

The other prominent vendors in the market are B&R (Part of ABB group), HOERBIGER, WEG, Kollmorgen, Pilz, CG Global, Technosoft, Ketterer, Shenzhen INVT Electric, Schneider Electric, and Shenzhen Sikes Electric.

Segmentation by end user and analysis of the safety drives market

• Utility industry
• Manufacturing
• Healthcare industry
• Oil and gas industries
• Food and beverage industry

The utility industries are deploying increasing number of power grids to cater to the growing demand for power while, improving the energy efficiency to reduce the carbon footprint. Investment in the power industry will encourage power generation from renewable energy resources. Additionally, these industries are also focusing on modernizing the grid and are moving toward IoT-enabled devices and intelligent power grids.

Geographical segmentation and analysis of the safety drives market

• Americas
• APAC
• EMEA

Several countries in EMEA such as the UK and Germany are witnessing a high demand for safety drives from several sectors such as utility, oil and gas, and water and wastewater industry. This is mainly influenced by the need for safety compliance and the use of safety drives to enhance productivity and increasing energy efficiency.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global safety drives market?
• What are the key market trends impacting the growth of the global safety drives market?
• What are the challenges to market growth?
• Who are the key vendors in the global safety drives market?
• What are the market opportunities and threats faced by the vendors in the global safety drives market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global safety drives market?

Technavio also offers customization on reports based on specific client requirement.

This industry research report on the global safety drives market by Technavio is an integral part of the industrial automation portfolio and offers insights into the major trends and evolving drivers inducing the growth of the automation industry. The market research experts at Technavio also considers the market forecast, market size, and increasing demand for various transportation and distribution products and services and offers an all-inclusive picture of the global safety drives market for the estimated period of 2017-2021.

This upcoming market research report on the global safety drives market covers vendors like Rockwell Automation, Siemens, ABB, GE, Schneider Electric, and Solomon . To help the clients to identify potential market opportunities and expand in niche markets, this report on the global safety drives market also covers geographies like the Americas, APAC, and EMEA.

According to our market research experts, rising demand for safety equipment, industry safety standards and the need for cost-effective systems may influence the demand for safety drives in the coming years. Our market research analysis includes qualitative and quantitative research techniques like vendor analysis, drivers, challenges, and trend analysis. Additionally, an analysis of the market share and market size using statistical models is also carried out to help clients develop active growth strategies and keep pace with the frequently changing market landscape.

The upcoming industry report on the global perishable goods sea transportation market also offers insights into fast-growing segments within the industrial automation industry, including sectors like robotics. Furthermore, this market report also presents insights into the varying competitive landscape to give clients a realistic picture of the future direction of the industry.

Our market research methodology for the safety drives market

Technavio also offers clients the option to customize every report to suit their specific requirements and offers attractive discounts on all upcoming reports and future purchases.