Machine Safeguarding Solutions Market by Product and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR45244
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The machine safeguarding solutions market has the potential to grow by USD 1.34 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 6.25%.

This machine safeguarding solutions market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (switches, controllers, sensors, and others) and geography (Europe, North America, APAC, MEA, and South America). The machine safeguarding solutions market report also offers information on several market vendors, including ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Honeywell International Inc., OMRON Corp., Rockford Systems LLC, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Uniguard Machine Guards among others.

What will the Machine Safeguarding Solutions Market Size be in 2021?

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Machine Safeguarding Solutions Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growth of end-user industries is notably driving the machine safeguarding solutions market growth, although factors such as poor implementation of workplace safety norms in developing countries may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the machine safeguarding solutions industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The growth of end-user industries is one of the critical reasons that will drive machine safeguarding solutions market growth.
  • Handling machine tools such as mills, boring tools, cutting tools, and punching tools in the automotive and industrial machine manufacturing industries can pose a significant safety hazard to operators. This creates the demand for adequate machine safeguarding solutions to ensure their safety.
  • There is a rise in investments in manufacturing automotive components.
  • New investment opportunities and the growing usage of drive and motion systems for conveyors and packaging lines in the pharmaceutical industry will positively boost the demand for machine safeguarding solutions.
  • The increasing use of robots in industrial manufacturing will drive machine safeguarding solutions market growth during the forecast period.
  • Industries are adopting robots for the careful handling of small and delicate parts such as silicon wafers.
  • Robots are used in automotive manufacturing for painting metal parts, welding, and assembly.
  • The purchases of robots by industrial manufacturers are increasing with the growing availability of small robots. This drives the need for sophisticated safeguarding equipment such as pressure-sensitive mats, laser scanners, safety light curtains, and perimeter guards to avoid potential injuries by these robots to the operators or maintenance personnel.

This machine safeguarding solutions market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Machine Safeguarding Solutions Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • Eaton Corp. Plc
  • Emerson Electric Co.
  • Honeywell International Inc.
  • OMRON Corp.
  • Rockford Systems LLC
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Uniguard Machine Guards

 

This statistical study of the machine safeguarding solutions market encompasses successful business strategies deployed by the key vendors. The machine safeguarding solutions market is fragmented and the vendors are deploying growth strategies such as launching machine safeguarding solutions that can be integrated with overarching industrial automation systems to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The machine safeguarding solutions market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Machine Safeguarding Solutions Market?

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34% of the market’s growth will originate from Europe during the forecast period. Germany and the UK are the key markets for machine safeguarding solutions in Europe. Market growth in this region will be faster than the growth of the market in MEA and North America.

The strict compliance with workplace safety regulations will facilitate the machine safeguarding solutions market growth in Europe over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Machine Safeguarding Solutions Market?

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The machine safeguarding solutions market share growth by the switches segment will be significant during the forecast period. This segment includes products such as interlocks, two-hand control switches, emergency stop devices, and safety relays. The growth of the discrete manufacturing industry is increasing the demand for machine tools and associated machine safeguarding solutions such as switches. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the machine safeguarding solutions market size and actionable market insights on post COVID-19 impact on each segment.

 

Machine Safeguarding Solutions Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 6.25%

Market growth 2021-2025

$ 1.34 billion

Market structure

Fragmented

YoY growth (%)

4.92

Regional analysis

Europe, North America, APAC, MEA, and South America

Performing market contribution

Europe at 34%

Key consumer countries

US, Germany, Japan, UK, and China

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Honeywell International Inc., OMRON Corp., Rockford Systems LLC, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Uniguard Machine Guards

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

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What are the Key Factors Covered in this Machine Safeguarding Solutions Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive machine safeguarding solutions market growth during the next five years
  • Precise estimation of the machine safeguarding solutions market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the machine safeguarding solutions industry across Europe, North America, APAC, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of machine safeguarding solutions market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The machine safeguarding solutions market growth will increase by $774.41 million during 2019-2024.
The machine safeguarding solutions market is expected to grow at a CAGR of 3.54% during 2019-2024.
Technavio has segmented the machine safeguarding solutions market by product (Switches, Controllers, Sensors, and Others) and geographic (Europe, North America, APAC, MEA, and South America).
ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., Honeywell International Inc., OMRON Corp., Rockford Systems LLC, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Uniguard Machine Guards are a few of the key vendors in the machine safeguarding solutions market.
Europe will register the highest growth rate of 32.97% among the other regions. Therefore, the machine safeguarding solutions market in Europe is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the machine safeguarding solutions market growth are:
  • Growth of end-user industries
  • Increasing use of robots in industrial manufacturing
The machine safeguarding solutions market vendors should focus on grabbing business opportunities from the switches segment as it accounted for the largest market share in the base year.
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