The machine safety market will jump to almost $4.2 billion by 2018, according to a new research report.
The growth will occur from 2013 to 2018 in the product areas of presence sensing sensors, emergency stop controls, interlocks, relays and PLCs and in applications such as assembly, metal works, packaging, robotics. It will also grow in standards European, North American and in geography, according to the report by MarketsandMarkets, a market research and consulting company.
The report said the total machine safety market should reach $4.197 billion by 2018, at a compounded annual growth rate (CAGR) of 9.02 percent from 2013 to 2018.
Over the past 50 years, there has been a rapid increase in the use of machines for industrial activities. This growth was due to the advancements in technology and automation which helped to make machines efficient and safe. The advancements however, were helpful in preventing accidents, but they are not perfect. That is where the growth in machine safety comes into play.
The segmentation of the global machine safety market revolves around four major parameters: components, applications, verticals and geography. It consists of segmentation by safety products, application and end users. The machine safety product market segments as follows: presence sensing sensors, emergency stop control, and safety interlock switches, programmable safety PLCs and Safety controllers/relays/modules. The safety products such as safety interlocks, emergency stop control, safety PLCs deploy in industrial processes/applications for safeguarding the machine and man. Presence sensing sensors see primary use 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) will be a major machine safety product in future with CAGR projected to exceed 10 percent in major applications such as assembly, packaging, material handling, metal working and robotics.
Global machine safety market will reach $4.197 billion by 2018, at an estimated CAGR of 9.02 percent from 2013 to 2018 with metal working, packaging and robotics application contributing to the global machine safety application market with a share of 63 percent in 2012 and continue to remain stable till 2018. Europe is the leading region in the overall machine safety market with 52 percent of market share in 2012; followed by North America and Asia/Pacific with 22 percent and 20 percent each in 2012.
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