Press release
Machine Safety Market – Global Industry Analysis, Size, Share, Trends and Forecast 2018 – 2024
Machine Safety Market
The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encourage the expansion of the Machine Safety Market during the said period. The report also provides market attractiveness analysis, by geography, and market share analysis, by key players respectively. Some of the prominent participants in the Global Machine Safety Market are Honeywell International Inc, Euchner GmbH + Co. Kg, ABB Ltd., PILZ GmbH & Co. Kg, Rockwell Automation Inc, Mitsubishi Electric Corporation, Schneider Electric SE, Phoenix Contact GmbH & Co. Kg, Siemens AG, and IDEC Corporation.
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Machine Safety Market to Grow at a CAGR of 6.1%
Adoption of machine safety standards irrespective of government involvement is expected to drive the machine safety market. Additionally, increasing accidents at workplaces in developed and emerging countries, mandatory safety standards & government regulations, and increasing demand for presence-sensing safety devices are some of the important factors, driving the demand for the machine safety. However, additional cost associated with machine safety systems restrains the growth of the market. Moreover, the evolution of industrial revolution 4.0 and increasing inclination towards the machine safety industries and the adoption of automation in various end-use industries to create future growth opportunities for machine safety market.
Asia Pacific Region to Emerge as a Most Lucrative Market Over the Coming Years
Europe holds the largest market share in machine safety market in 2017. The presence of automotive manufacturers and increasing automation in the automotive industry in Europe support the growth of the machine safety market in this region. Besides this, countries in Europe maintains high safety standards ensuring the safety of workers in various end-use industries. Asia Pacific region is projected to grow at the highest CAGR during the forecast period due to rapidly increasing urbanization in emerging countries like India, China, and South East Asian countries.
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Segments Covered in this Premium Report
The report on global machine safety market covers segments such as product, implementation, and application. The product segments include PLCs, modules, safety sensors, controllers, relays and e-stop controls. On the basis of implementation, the global machine safety market is categorized into individual components and embedded components. Furthermore, on the basis of application the machine safety market is segmented as material handling, robotics, assembly, metalworking, packaging, welding, and others.
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Major Key Players mentioned in this Premium Report
The report provides profiles of the companies in the global machine safety market such as Honeywell International Inc, Euchner GmbH + Co. Kg, ABB Ltd., PILZ GmbH & Co. Kg, Rockwell Automation Inc, Mitsubishi Electric Corporation, Schneider Electric SE, Phoenix Contact GmbH & Co. Kg, Siemens AG, and IDEC Corporation.
Report Highlights:
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global machine safety market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of machine safety market. Moreover, the study highlights current market trends and provides forecast from 2018 to 2024. We also have highlighted future trends in the machine safety market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market. This report will help manufacturers, suppliers and distributors of the machine safety market to understand the present and future trends in this market and formulate their strategies accordingly.
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