“Safety Switches Market“ offer significant and proficient insights into the current market scenario and the emerging growth dynamics. The report on Safety Switches Market provides the market players as well as the new visitors to show complete view of the market landscape. The comprehensive research will enable the well-established as well as the emerging players to establish their business strategies and achieve their short-term and long-term goals. The report also presents a significant evaluation of the scope of the regions and where the key participants might find potential growth opportunities in future.
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The Safety Switches Market players influencing the market are profiled in the study along with their SWOT analysis and market strategies. The report also focuses on leading industry players with information such as company profiles, products and services offered financial information of last 3 years, key development in past five years.
The global safety switches market is expected to register a CAGR of 8.17%, during the forecast period (2018 – 2023). The key factors contributing to the growth of the global safety switches market are – flexibility of usage in varied applications, high market demand for safe equipment, miniaturization of devices, and industrial safety standards. Operator safety is of utmost importance for any robot and machine installations and safety switches are expected to provide the expected level of protection. Safety switches play a major role in the automated production equipment. Different categories of personnel work on this automated production equipment, ranging from production workers to engineers. The increasing demand for products from various end-user industries, like food & beverages, oil& gas, pharmaceuticals, aerospace etc. and technological advancements are increasing the demand for manufacturing plants with heavy machinery. The surge in the economies of various emerging countries like Russia, Brazil, China, and India is creating opportunities for setting up of more production facilities and manufacturing plants, thus driving the market for safety switches globally. On the flipside, price sensitivity, the complexity of new technologies, and lack of adequate pro-activeness from various safety equipment manufacturers regarding product upgrades are challenging the marketâs growth in the forecast period.
Increased Emphasis on Workplace Safety Is Driving Market Growth
The workforce is a companyâs greatest asset, as the productivity depends entirely on the well being of its workforce. Hence, the safety of the workplace, which deals with the prevention of any injury or incident, becomes critical. The Occupational Safety and Health Act of 1970 of the United States Government has been promoting the use of safety systems in the factory to make work safer and thereby, protecting the physical well-being of the employee. Moreover, several regulatory standards have been prescribing threshold conditions regarding temperature and environmental conditions, under which workers are supposed to perform their duties. Safety switches can be widely used in conditions where manual labor is not advisable, as it could affect human health. Hence, an increased emphasis on workplace safety has bolstered the demand for safety systems in medium or large-scale organizations, where efficiency and throughput need to be maintained at optimal levels. In such cases, safety systems are not merely replacing human labor for monitoring purposes, but are also ensuring that the production efficiency is maintained without compromising on the workersâ safety.
Non-Contact Safety Switches to Witness High Growth Rate
The segmentation by type is majorly based on the type of actuation that is being employed. Electro-mechanical safety switches are essentially used to monitor movable guards. Non-contact safety switches are ideal for applications where the precise guidance of guards is a challenge. Non-contact safety switches are expected to perform the same function as tongue interlock switches, but provide various advantages, as the actuator and switch do not come in contact with each other. Non-contact safety switches are used especially in applications where conditions like long mechanical life, high maintenance requirements, and poor guard alignment are applicable. The major challenge of non-contact switches is their incapability to mechanically lock a door or any other moving part. However, there are products available that use electromagnets that provide force to hold the moving part in the designated position.
APAC to Witness Fastest Growth during the Forecast Period
With the increasing use of complex machines to meet the rising demand for various products, there is a need to allow safe access to them. Hence, safety switches play a critical role in a wide range of industries like industrial, commercial, healthcare, etc. The increasing manufacturing activities and the need to provide a safer workplace among various verticals is driving the market for safety switches in the APAC region. The presence of a large number of domestic and international manufacturing companies in the emerging economies of APAC, rapid industrialization, and expanding manufacturing activities are projected to drive the machine condition monitoring market in this region.
Key Developments in the Market
â¢ July 2017 – Rockwell introduced advanced cable-pull E-stop with patented, microprocessor-based technology. This product provides continued access to E-stop function, hence stopping machine risks with simple pull of attached cables
The major players include – ROCKWELL AUTOMATION, GENERAL ELECTRIC, EUCHNER GMBH, ABB LTD., BANNER ENGINEERING CORP., SICK, EATON CORPORATION, SCHNEIDER ELECTRIC, PILZ GMBH & CO. KG, OMRON INDUSTRIAL AUTOMATION, BERNSTEIN AG, amongst others
Reasons to Purchase this Report
â¢ Increased emphasis on workplace safety acting as a driver to the global market scenario
â¢ Analyzing various perspectives of the market with the help of Porterâs five forces analysis
â¢ End-user that is expected to dominate the market
â¢ Regions that are expected to witness fastest growth during the forecast period
â¢ Identifying the latest developments, market shares, and strategies employed by the major market players.
â¢ 3-month analyst support, along with the Market Estimate sheet (in Excel)
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Safety Switches Market Analyse according to leading players, Competitive landscape, geographical regions, top manufacturers, types, and applications forecast over a period of 2019 to 2024. Geographically, this report is divided into many key Regions, with production, consumption, revenue (million USD), market share and rate of Safety Switches Market 2019 in these regions, from 2018 to 2024 (forecast), covering: North America, China, Europe, Japan, Southeast Asia, India.
The Objectives of this report are:
- To define, describe, and analyze the Safety Switches market on the basis of product type, application, and region
- To forecast and analyze the size of the Safety Switches market (in terms of value) in six key regions, namely, Asia Pacific, Western Europe, Central & Eastern Europe, North America, the Middle East & Africa, and South America
- To forecast and analyze the Safety Switches market at country-level in each region
- To strategically analyze each submarket with respect to individual growth trends and its contribution to the Safety Switches market
- To analyze opportunities in the Safety Switches market for stakeholders by identifying high-growth segments of the market
Key Questions Answered in Safety Switches market report:
- What will the market size be in 2024 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Safety Switches Market Report Provides Comprehensive Analysis as Following:
Market segments and sub-segments
Market size & shares
Market trends and dynamics
Market Drivers and Opportunities
Market Analysis and Segmentation
Supply and demand
Technological inventions in Safety Switches trade
Marketing Channel Development Trend
Safety Switches Market Positioning
Distributors/Traders List enclosed in Positioning Safety Switches Market
Safety Switches Market report provides you a visible, one-stop breakdown of the leading product, submarkets and market leaders revenue forecasts till 2024. In conclusion, Safety Switches Market 2019 report presents the descriptive analysis of the Safety Switches Market Major Key-players, Types, Application and Forecast Period knowledge which is able to function a profitable guide for all the Safety Switches Market competitors.
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