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Machine Safety Market Share

Report ID: GMI5918
Published Date: Nov 2024
Report Format: PDF

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Machine Safety Market Share

Global Machine Safety Company Market Share Analysis (2023)

The global machine safety industry is moderately fragmented, with prominent players, such as Siemens AG, Schneider Electric, Rockwell Automation Inc., Honeywell, OMRON Corporation holding a market share of ~35-40%.

The machine safety industry is characterized by intense competition across various domains, including technological advancements, adherence to regulations, product dependability, and customer assistance. Companies invest in developing sophisticated safety solutions, incorporating artificial intelligence-driven monitoring systems and Internet of Things-enabled devices to improve functionality and anticipatory maintenance capabilities. Strict adherence to both international and local safety standards is essential, as it fosters consumer confidence and facilitates market expansion. Furthermore, the provision of comprehensive post-purchase support and industry-specific customized solutions affords companies a strategic advantage in attracting and maintaining a loyal client base.

Machine Safety Market Companies

Major players operating in the machine safety industry are:

ABB
Banner Engineering
Emerson Electric
Honeywell International
IDEC Corporation
ISE Controls
KEYENCE CORPORATION
Mitsubishi Electric Corporation
OMRON Corporation
Pepperl+Fuchs
Pilz GmbH & Co.
Rockwell Automation Inc.
Schneider Electric
SICK
Siemens

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for machine safety was reached USD 5.8 billion in 2023 and is estimated to grow at a 6% CAGR from 2024 to 2032, driven by the widespread adoption of automation and stringent regulatory requirements.

The individual components segment reached USD 3.6 billion in 2023 and is projected to grow at a 5% CAGR from 2024 to 2032, driven by the essential role of safety sensors and other technologies in ensuring machine safety.

The assembly application type dominated about 30.3% revenue share in 2023 and is expected to grow at a 5.9% CAGR from 2024 to 2032, due to its critical role in safeguarding workers during high-velocity, repetitive production processes.

The U.S. machine safety market size surpassed USD 900 million in 2023 and is expected to grow at a 5.9% CAGR from 2024 to 2032, led by its advanced manufacturing sector and comprehensive regulatory framework.

Key players in the machine safety industry include ABB, Banner Engineering, Emerson Electric, Honeywell International, IDEC Corporation, ISE Controls, KEYENCE CORPORATION, Mitsubishi Electric Corporation, OMRON Corporation, Pepperl+Fuchs, Pilz GmbH & Co., Rockwell Automation Inc., Schneider Electric, SICK, and Siemens.