Safety Switch Market

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

  • Report ID: ICT-SE-3287
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 1
  • No. Of Pages: 180
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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 Market Key Takeaways

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.

Attributes

Details

Report Title

Safety Switch Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type (Electromagnetic-, and Non-contact), End-user (Industrial, Commercial, and Oil & Gas)

Geography Scope

North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

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.

Safety Switch Market By Regions

Segments

The global safety switch market has been segmented on the basis of
Type
  • Electromagnetic
  • Non-contact
End-User
  • Industrial
  • Commercial
  • Oil & Gas
Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
Key Players
  • 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.

Safety Switch Market By Key Players

1. Executive Summary
2. 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
The global safety switch market has been segmented on the basis of
Type
  • Electromagnetic
  • Non-contact
End-User
  • Industrial
  • Commercial
  • Oil & Gas
Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa
Key Players
  • Euchner GmbH
  • Rockwell Automation
  • ABB Ltd
  • Banner Engineering Corp
  • Eaton Corporation

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.

Safety Switch Market By Key Players

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