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Safety Switches Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Safety Switches Market is Segmented by Type (Electromagnetic, Non-contact), End-User (Industrial, Commercial, Oil and Gas), and Geography.

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Market Snapshot

safety switches market
Study Period:

2018 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6.0 %

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Market Overview

The Safety Switches market is expected to grow at a CAGR of 4.11% over the forecast period (2021 - 2026). 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 significant role in automated production equipment.

  • Different categories of personnel work on automated production equipment, ranging from production workers to engineers. This wide range and increasing automation are demanding for products from various end-user industries, like food and beverage, oil and gas, pharmaceuticals, aerospace, etc.
  • Technological advancements are increasing the demand for manufacturing plants with heavy machinery. The growing economies of various developing and emerging economies such as Brazil, China, and India are creating opportunities for setting up of more production facilities and manufacturing plants. Hence, driving the market for safety switches, globally.
  • The key factors contributing to the growth of the safety switches market are the need and flexibility of usage in a wide range of applications, high market demand for safer equipment, miniaturization of devices, and industrial safety standards.

Scope of the Report

In the study of the safety switches market, a different type of switches is considered according to its applications. As in a single machine, it is common that various kinds of safety switches are used such as emergency shutdown switches or safety limit switches. Thus, segmentation by end users is also covered in the market studied.

By Type
Electromagnetic
Non-contact
Other Types
By End Users
Industrial
Commercial
Healthcare
Oil and Gas
Other End Users
Geography
North America
United States
Canada
Europe
United Kingdom
Germany
France
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
Latin America
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa
United Arab Emirates
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Safety Switches for Industrial Application to Show Significant Growth

  • Industrial applications, such as in oil and gas, manufacturing, material handling, and power generation industries show significant growth for safety switches. As in a single machine, it is common that various kinds of safety switches are used such as emergency shutdown switches or safety limit switches.
  • The need for a safer working environment is driving the market for safety switches. In hazardous locations in industries like grain elevators, offshore drilling, petrochemical, and waste treatment plants, paint booths and hazardous waste handling facilities, these safety switches are the key players for safe and efficient work.
  • The fatalities have been increasing over the years. In 2017, the mining and construction industry led in record with a total of over 450 accident incidents, according to JISHA (Japan Industrial Health and Safety Association).
safety switches market

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Asia-Pacific to Witness the Fastest Growth

  • Asia-Pacific is estimated to be the fastest-growing region for the safety switches market. The industries are adopting automation, thus making the machines more complex. This ultimately demands more sensors and safety switches applications.
  • The presence of a large number of domestic and international manufacturing companies in the emerging economies of Asia-Pacific, rapid industrialization, and expanding manufacturing activities are projected to drive the machine condition monitoring activities on the industry floor and is expected to drive the safety switches market in this region.
  • Strong demand for consumer automobiles, medium and heavy buses, and trucks are estimated to drive the demand for non-destructive testing equipment and services in this region. To safeguard such high-value industrial assets the market is expected to continue to generate the demand over the forecast period. For instance, the market for new vehicles in Asia-Pacific, which includes passenger vehicles, buses, and trucks, crossed 40 million units in 2017, driven strongly by countries such as China and India.
safety switches market

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Competitive Landscape

The availability of several players offering safety switches has intensified the competition in the market. Therefore, the market is fragmented with many companies developing expansion strategies.

  • July 2018 - ABB announced the acquisitions of General Electric Industrial solutions division. This USD 2.6 billion transactions is creating value for ABB and is also creating potential opportunities by coupling its digital offerings.
  • July 2017 - Rockwell Automation 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 a simple pull of attached cables.
safety switches market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

      1. 4.3.1 Increased Emphasis on Workplace Safety

      2. 4.3.2 Stringent Regulations on Machine and Personnel Safety

    4. 4.4 Market Restraints

      1. 4.4.1 Product Compatibility with Different Existing Platforms

    5. 4.5 Industrial Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Electromagnetic

      2. 5.1.2 Non-contact

      3. 5.1.3 Other Types

    2. 5.2 By End Users

      1. 5.2.1 Industrial

      2. 5.2.2 Commercial

      3. 5.2.3 Healthcare

      4. 5.2.4 Oil and Gas

      5. 5.2.5 Other End Users

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

      2. 5.3.2 Europe

        1. 5.3.2.1 United Kingdom

        2. 5.3.2.2 Germany

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Latin America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Mexico

        3. 5.3.4.3 Argentina

        4. 5.3.4.4 Rest of Latin America

      5. 5.3.5 Middle East & Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 Saudi Arabia

        3. 5.3.5.3 South Africa

        4. 5.3.5.4 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Schneider Electric

      2. 6.1.2 Rockwell Automation Inc.

      3. 6.1.3 Banner Engineering Corp.

      4. 6.1.4 Eaton Corporation

      5. 6.1.5 Euchner GmbH

      6. 6.1.6 SICK AG

      7. 6.1.7 Pilz GmbH & Co. KG

      8. 6.1.8 Siemens AG

      9. 6.1.9 Omron Electronics LLC

      10. 6.1.10 Honeywell International Inc.

      11. 6.1.11 Murrelektronik GmbH

      12. 6.1.12 Parmley Graham Ltd

      2. *List Not Exhaustive

  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Safety Switches Market market is studied from 2018 - 2026.

The Safety Switches Market is growing at a CAGR of 6.0% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

  • Rockwell Automation
  • Euchner GmbH
  • ABB Ltd
  • Banner Engineering Corp.
  • Eaton Corporation

Are the major companies operating in Safety Switches Market.

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