Sellbyville, DE -- (SBWire) -- 01/09/2019 --Increasing governmental regulations and policies for labor safety and accident-free environment are increasing the demand for the products in machine safety market, which will ensure workplace safety. The high costs associated with workplace accidents are wages to disabled & sick workers and damaged machine repair cost & insurance claim that needs to be controlled by the management. For instance, the Occupational Safety and Health Act (OSHA) was enacted in 1970 to address and respond to the growing number of accidents and injuries in workplaces. It is administered by the Department of Labor in the guidance of Assistant Secretary of Labor for Occupational Safety and Health.
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The rising adoption & implementation of hazardous machines and equipment in the industries is projected to be an opportunity in the machine safety market. The large machines that carry out several complex processes and operations in the industries require these safety products. For instance, in chemical industries, these products are in high demand for machines such as boilers, reactors, and heat exchanger. The growing industrialization in the developing countries and the implementation of several large machines in these sectors are the factors that drive the demand for these products, thus fueling the machine safety market growth.
Embedded safety modules are expected to account for the majority share in the machine safety market. These products are embedded inside a machine to provide safety precautions and lock the machines in case of failures. Individual type of safety products needs to be purchased separately and this incurs separate additional costs to the company. The disadvantage of embedded systems is that these products need to be changed during failures, which requires the opening of machine parts and systems. This process is very expensive and complicated. Moreover, the machine working has to be paused till the time of repair of the safety products to avoid further failures and accidents.
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The Europe machine safety market accounted for the majority of the customer base among other regions. The high availability of the manufacturing industries and the adoption of large size machines in these industries are increasing the demand for this equipment in the region. Growing industrialization in the region is the major factor driving the requirements of these components for the safety of the workforce in these sectors. Developed countries in the region are generating a large customer base for these products by adopting several newly developed machinery.
The key players operating in the machine safety market are Pilz, Schneider, Mitsubishi Electric, ABB, Omron, Keyence, Sick, IDEC Corporation, Rockwell, Honeywell, Banner Engineering, Phoenix Contact, Pepperl + Fuchs, Euchner, and Datalogic.
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Machine Safety Market 2024: Global Analysis by Key Players Pilz, Schneider Electric, ABB, KEYENCE CORPORATION, SICK, Rockwell Automation, Honeywell, Banner Engineering, Phoenix Contact, Pepperl+Fuchs GmbH, Datalogic
The growing demand for Presence Sensing Devices (PSD) for the safety of machines is increasing the need and requirement of these products in machine safety market