Machine Safety Market worth $4,197.04 Million by 2018

Thursday 29 August 2013, Amsterdam

According to a new market research report, “Machine Safety Market by Products (Presence Sensing Sensors, Emergency Stop Controls, Interlocks, Relays, PLC), Applications (Assembly, Metal Works, Packaging, Robotics), Standards (European, North American), Geography (2013 - 2018)”,  the total machine safety market is expected to reach $4,197.04 million by 2018, at a CAGR of 9.02% from 2013 to 2018.

The global machine safety market compromises of segmentation by safety products, application and end users. The machine safety product market is segmented as follows: presence sensing sensors, emergency stop control, safety interlock switches, programmable safety PLCs and Safety controllers/relays/modules. The safety products such as safety interlocks, emergency stop control, safety PLCs are majorly deployed in industrial processes/applications for safeguarding the machine and man. Presence sensing sensors are primarily utilized in applications involving hazardous environment and remote applications such as pharmaceutical, chemicals and food & beverages industry. Presence sensing sensors have high market share in metal working applications. Safety Controllers/Modules/Relays have high market share in welding related applications. Programmable Safety Systems (Safety PLCs) is expected to be a major machine safety product in future with CAGR projected to exceed 10% in major applications such as assembly, packaging, material handling, metal working and robotics.

Global machine safety market is expected to reach $4,197.04 million by 2018, at an estimated CAGR of 9.02% from 2013 to 2018 with metal working, packaging and robotics application contributing to the global machine safety application market with a share of 63% in 2012 and continue to remain stable till 2018.Europe is the leading region in the overall machine safety market with 52% of market share in 2012;followed by North America and APAC with 22% and 20% each in 2012. In ROW, Russia, Brazil and the Middle East are the largest contributors with total share of 6% occupied in global machine safety market.