Machine safeguarding solutions are comprised of components that include modular configurable relays, safe drives, laser scanners, and safety interlocks among others. Machine safeguarding solutions are critical in safeguarding machines and operators from potential hazards. Workers engaged in complex machinery across industries are exposed to several risks. This has increased the demands to deploy appropriate solutions to prevent machinery from damage. Growing investments in the manufacturing sector are likely to witness the growth of industrial equipment and machinery and hence safeguarding solutions.
MARKET SCOPE
The "Global Machine Safeguarding Solutions Market Analysis to 2028" is a specialized and inodepth study of the Manufacturing and Construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the Machine Safeguarding Solutions market with detailed market segmentation by component, industry vertical, and geography. The report provides key statistics on the market status of the leading Machine Safeguarding Solutions market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the market is segmented as sensors, controllers, switches, and others.
- On the basis of the industry vertical, the market is segmented as manufacturing, food and beverages, automotive, mining, healthcare, and others.
Drivers
- The rise in global demand for safety equipment to boost the demands for Machine Safeguarding Solutions.
- Strict government regulations concerning workplace security are driving significant demand for Machine Safeguarding Solutions worldwide.
- High cost of these systems is estimated to be a restraint to the global Machine Safeguarding Solutions market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, AsiaoPacific (APAC), the Middle East and Africa (MEA), and South America. The Machine Safeguarding Solutions market by each region is later subosegmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i. e. , drivers, restraints, opportunities, and future trends. The report also provides exhaustive Porter's Five Forces analysis, highlighting the factors affecting the Machine Safeguarding Solutions market in these regions.
IMPACT OF COVID-19 ON MACHINE SAFEGUARDING SOLUTIONS MARKET
The outbreak of the COVID-19 has severely impacted the Manufacturing and Construction industries, which resulted in lower sales of Machine Safeguarding Solutions in the year 2020. The Machine Safeguarding Solutions market players struggled to gain profits by selling their products worldwide. Further, the shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and declined the sale of Machine Safeguarding Solutions for specific periods. Overall, the sales were down in 2020, while the beginning of the 2021 market normalized the sale volume with an increase in manufacturing activities. Growth in the manufacturing and production sector is anticipated to boost the Machine Safeguarding Solutions market in the post pandemic era.
MARKET PLAYERS
The report covers key developments in the Machine Safeguarding Solutions market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as power launches, power approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from Machine Safeguarding Solutions market are anticipated to provide lucrative growth opportunities in the future with the rising demand for Machine Safeguarding Solutions in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the Machine Safeguarding Solutions market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- ABB Ltd.
- Banner Engineering Corp.
- Faztek, LLC
- Honeywell International Inc.
- OMRON Corporation
- Procter Bros Ltd
- Rockford Systems, LLC
- Rockwell Automation, Inc.
- Siemens AG
- Uniguard Machine Guards