Safety Switch Market Size, Share, and Industry Report [2030]
Safety Switch Market Size, Share, and Industry Report [2030]
Segments - Global Safety Switch Market by Type (Electromagnetic and Non-contact), End-user (Industrial, Commercial, and Oil & Gas), and Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Industry Analysis, Growth, Trends, Covid-19 Impact and Forecasts 2021-2028
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| Report ID :ICT-SE-3287
| 4.6 Rating
| 77 Reviews
| 180 Pages
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Report Description
The global safety switch market size is expected to expand a considerable CAGR of 4.11% during the forecast period, 2021-2028. The growth of market is attributed to increasing demand of automated production equipment such as a safety switch.
Safety switch is a device used to instantly turns off the power supply if an electrical faulty is detected. By shutting off the power supply automatically, this decreases the chance of electrical fires, electric shock injuries, and death. These switches are widely used in industries such as pharmaceuticals, oil & gas, and aerospace and also many businesses use safety switches in workplace to avoid workplace risks, protect employees, and achieve corporate safety regulations.
The Covid-19 pandemic affected the supply chain of safety switch market. Lockdown across the globe, supply chain disorders and oscillating supply raw material forced manufacturers to shut down production leading to unfortunate decline in market growth.
Market Trends, Drivers, Restraints, and Opportunities
- Operator safety is most important for any robot and machine installations, safety switches are commonly found in automated production equipment, and they perform an important function, which are projected to boost the market.
- Products from several end-user sectors, such as food & beverage, oil & gas, pharmaceuticals, aerospace, and others, are in high demand due to the wide range and rising automation is projected to boost the market.
- Safety switches helps to maintain safe working environment in many hazardous locations, which is projected to drive the market.
- Product compatibility with different existing platform is estimated to hamper the market growth.
- Demand of heavy machinery is increasing as a result technological improvement which is projected to create lucrative opportunities for the key players.
- Factor such as flexibility in use, increasing market demand for safe equipment, device downsizing, and industrial safety standards projected to drive the market.
Scope of the Report
The report on the global safety switch market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
|
Report Title |
Safety Switch Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Type (Electromagnetic-, and Non-contact), End-user (Industrial, Commercial, and Oil & Gas) |
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Geography Scope |
North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Euchner GmbH.; Rockwell Automation.; ABB Ltd.; Banner Engineering Corp.; Eaton Corporation |
Market Segment Insights
The non-contact segment is expected to grow at a high CAGR
Based on type, the global safety switch market is bifurcated into electromagnetic and non-contact. The non-contact segment is expected to grow at a rapid pace during the forecast period owing to its application in accurate guidance of guards. These gadgets are usually long-lasting, need little maintenance, and are shock and vibration resistant. A non-contact safety switch is usually made up of two parts a sensor and an actuator. When utilizing a non-contact safety switch, the machine must be able to stop quickly enough because this sort of switch will not prevent from opening the door. Smaller and medium-sized machines have a shorter stopping time.
Industrial segment is expected to grow at a rapid pace
Based on end-user the global safety switch market is divided into industrial, commercial, and oil & gas. The end-user segment is expected to grow at a rapid pace during the forecast period owing to safety switches are used in various industries, such as oil & gas, manufacturing, material handling, and power generation industries, which is projected to drive the market. These safety switches are essential for safe and efficient operation in hazardous environments such as grain elevators, offshore drilling, petrochemical and waste treatment plants, paint booths, and hazardous waste processing facilities. Safer working environment is a need of current market. According to JISHA, the mining and construction industries set a new record in 2017 with over 450 accident events (Japan Industrial Health and Safety Association).
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the global safety switch market is classified as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to constitute a key share of the market during the projected period due to highly-growing use of safety switches in the region. However, Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to growing industrialization, and expanding manufacturing activities help to drive the market.
Segments
The global safety switch market has been segmented on the basis ofType
- Electromagnetic
- Non-contact
- Industrial
- Commercial
- Oil & Gas
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
- Euchner GmbH
- Rockwell Automation
- ABB Ltd
- Banner Engineering Corp
- Eaton Corporation
Competitive Landscape
Key players competing in the global safety switch market include Euchner GmbH.; Rockwell Automation.; ABB Ltd.; Banner Engineering Corp.; Eaton Corporation
For instance, ABB announced the acquisition of the General Electric Industrial Solutions group in July 2018. By combining ABB's digital products, USD 2.6 billion transaction adds value to the company and opens up additional opportunities.
Rockwell Automation launched a patented, microprocessor-based improved cable-pull E-stop in July 2017. This device gives continuous access to the E-stop function, allowing to stop the machine with a simple pull of the associated cords.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Safety Switch Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Safety Switch Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Safety Switch Market - Supply Chain
4.5. Global Safety Switch Market Forecast
4.5.1. Safety Switch Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Safety Switch Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Safety Switch Market Absolute $ Opportunity
5. Global Safety Switch Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Safety Switch Market Size and Volume Forecast by Types
5.3.1. Electromagnetic Non-contact
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Safety Switch Market Analysis and Forecast by End Users
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by End Users
6.2.2. Y-o-Y Growth Projections by End Users
6.3. Safety Switch Market Size and Volume Forecast by End Users
6.3.1. Industrial Commercial Oil & Gas
6.4. Absolute $ Opportunity Assessment by End Users
6.5. Market Attractiveness/Growth Potential Analysis by End Users
7. Global Safety Switch Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Safety Switch Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Safety Switch Demand Share Forecast, 2019-2026
8. North America Safety Switch Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Safety Switch Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Safety Switch Market Size and Volume Forecast by Types
8.4.1. Electromagnetic Non-contact
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Safety Switch Market Size and Volume Forecast by End Users
8.7.1. Industrial Commercial Oil & Gas
8.8. Basis Point Share (BPS) Analysis by End Users
8.9. Y-o-Y Growth Projections by End Users
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Safety Switch Demand Share Forecast, 2019-2026
9. Latin America Safety Switch Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Safety Switch Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Safety Switch Market Size and Volume Forecast by Types
9.4.1. Electromagnetic Non-contact
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Safety Switch Market Size and Volume Forecast by End Users
9.7.1. Industrial Commercial Oil & Gas
9.8. Basis Point Share (BPS) Analysis by End Users
9.9. Y-o-Y Growth Projections by End Users
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Safety Switch Demand Share Forecast, 2019-2026
10. Europe Safety Switch Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Safety Switch Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Safety Switch Market Size and Volume Forecast by Types
10.4.1. Electromagnetic Non-contact
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Safety Switch Market Size and Volume Forecast by End Users
10.7.1. Industrial Commercial Oil & Gas
10.8. Basis Point Share (BPS) Analysis by End Users
10.9. Y-o-Y Growth Projections by End Users
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Safety Switch Demand Share Forecast, 2019-2026
11. Asia Pacific Safety Switch Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Safety Switch Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Safety Switch Market Size and Volume Forecast by Types
11.4.1. Electromagnetic Non-contact
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Safety Switch Market Size and Volume Forecast by End Users
11.7.1. Industrial Commercial Oil & Gas
11.8. Basis Point Share (BPS) Analysis by End Users
11.9. Y-o-Y Growth Projections by End Users
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Safety Switch Demand Share Forecast, 2019-2026
12. Middle East & Africa Safety Switch Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Safety Switch Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Safety Switch Market Size and Volume Forecast by Types
12.4.1. Electromagnetic Non-contact
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Safety Switch Market Size and Volume Forecast by End Users
12.7.1. Industrial Commercial Oil & Gas
12.8. Basis Point Share (BPS) Analysis by End Users
12.9. Y-o-Y Growth Projections by End Users
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Safety Switch Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Safety Switch Market: Market Share Analysis
13.2. Safety Switch Distributors and Customers
13.3. Safety Switch Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Euchner GmbH Rockwell Automation ABB Ltd Banner Engineering Corp Eaton Corporation
Methodology
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