Machine Safety Market 2022-2031 | TMR

 Increase in demand for machine safeguarding solutions in end-use industries such as automotive, semiconductor & electronics, chemical, food & beverage, aerospace & defense, and healthcare & pharmaceutical is driving the global market for machine safety. Furthermore, rise in awareness about operator safety is fueling market expansion.

Companies are aggressively adopting holistic approaches to machine safety by leveraging smart devices in order to achieve significantly higher overall equipment effectiveness (OEE). These companies have lower downtime and less than half the injury rate of average performers.

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Rise in Implementation of Embedded Components in Machine Safety Systems

In terms of implementation, the embedded components segment accounted for notable share of the global market in 2021. It is likely to dominate the industry during the forecast period.

Embedded component system offers enhanced operator safety and increased machine productivity. It also entails lower installation costs. The system reduces hardware cost by as much as 30%, since just a single device is required instead of two. It offers complementary savings on reduced cabling needs, fewer circuit breakers, and simplified installation.

Embedded components ensure a safer working environment for machine operators. Thus, fewer devices and less cabling mean little scope of system failure.

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Regional Outlook of Global Machine Safety Business

Asia Pacific held the largest value share of the global machine safety market in 2021. The region is anticipated to witness lucrative machine guarding industry opportunities in the near future. China was the largest market in the region with more than 30.0% share in 2021.

Machine safety market growth in Asia Pacific can be ascribed to the presence of well-established players across the region, especially in China, Japan, and India. Additionally, rise in R&D activities in automotive, manufacturing, and healthcare industries is fueling machine safety business growth in Asia Pacific.

Many companies in Asia Pacific are striving to develop novel products pertaining to machine safety in order to compete with other well-established players in the region. China is the largest manufacturer of machine safeguarding solutions. Industrial growth in China is likely to fuel machine safety market statistics in Asia Pacific during the forecast period.

North America and Europe accounted for vital share of the global market in 2021. Growth in manufacturing, automotive, and mining sectors is driving the machine safety market demand in these regions. Expansion of the manufacturing sector in the U.S. is also augmenting the market in North America.

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Analysis of Key Players in Machine Safety Market

Many medium- and large-scale vendors control majority of the share of the consolidated global machine safety market. Leading firms are investing significantly in R&D activities and focusing on adopting innovative strategies such as expansion of product portfolios and partnerships & collaborations.

Top machine safety companies include ABB Ltd., Omron Corporation, Balluff GmbH, Banner Engineering Corp., Emerson Electric Co., Sick AG, Honeywell International Inc., Rockwell Automation, Inc., Keyence Corporation, Yokogawa Electric Corp., Mitsubishi Electric Corporation, Pilz GmbH & Co.KG, Schneider Electric SE, and Siemens AG.

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