Machine Safety Market to Reach US$ 11.5 Billion by 2031, Fueled by Robust 7.2% CAGR: TMR Analysis

The Global Machine Safety Market, valued at US$ 5.9 billion in 2021, is expected to grow at a robust CAGR of 7.2% from 2022 to 2031, reaching an impressive US$ 11.5 billion by the end of 2031. This growth is primarily driven by increasing demand for machine safeguarding solutions across various end-use industries, including automotive, semiconductor & electronics, chemical, food & beverage, aerospace & defense, and healthcare & pharmaceutical.

According to industry analysts, the rise in awareness about operator safety and the implementation of stringent machinery safety standards are key factors propelling market expansion. Companies are adopting holistic approaches to machine safety by leveraging smart devices to achieve significantly higher overall equipment effectiveness (OEE), resulting in lower downtime and fewer injuries.

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Introduction to Machine Safety Market
Machine safeguarding solutions, such as sensors, switches, and controllers/modules/relays, play a critical role in preventing accidental contact with live electrical connections and other hazardous machines. These safety interlock switches, limit switches, and cable-pull limit switches come in various actuators, switch types, voltage and current ratings, and contact materials, making them suitable for a wide range of industrial applications. Designed to meet all pertinent OSHA and ANSI standards, these components are essential for protecting machinery and minimizing accidents.

The global machine safety market is expected to witness steady growth during the forecast period, driven by increasing awareness about workplace safety in emerging economies and the rising demand for smart safety solutions in industrial automation.

Implementation of Stringent Machinery Safety Standards
Many companies recognize the critical importance of machine safety and consider their employees valuable assets. Implementing fundamental principles and elements of machine safety enhances production capabilities and reduces employee absence rates. Poorly planned safety measures can lead to bypassing essential procedures and fail-safe operations, increasing risks and decreasing production quality. As a result, stringent machinery safety norms and standards have been implemented across various industrial sectors globally.

Safety considerations must be integrated throughout the machine lifecycle, from initial design and risk assessment to engineering, operation, and decommissioning. Standards such as EN ISO 13849, IEC 62061, and the ANSI B11 series define functional safety requirements for machines. The European machinery directive 2006/42/EC sets standards for machine safety to facilitate unrestricted trade and distribution within the European Economic Area. These standards encourage designers to focus on eliminating individual risks and ensuring performance for each safety function, positively impacting the machine safeguarding market share.

Growth in Adoption of Machinery Safety Measures in the Automotive Sector
The automotive sector is particularly focused on cost-effective production and machinery safety. Machine safety automation ensures safe and compliant operation of machinery used in vehicle manufacturing and assembly. This includes safety guards, barriers, emergency stop buttons, sensors, and other devices to prevent accidents and injuries.

Robots equipped with sensors and safety features are widely used for tasks such as welding, painting, and assembly in the automotive industry. Machine safety automation protects workers and minimizes the risk of accidents, contributing to safer and more efficient operations.

Leading companies are developing innovative devices to minimize emergency shutdowns and prevent accidents. For instance, Omron Corporation launched the K7TM condition monitor for heater equipment in April 2022, combining sensing technology with algorithms to identify abnormal conditions and enable predictive maintenance.

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Increase in Adoption of Presence Sensing Safety Sensors
The presence sensing safety sensors segment is expected to grow significantly during the forecast period. These sensors, including safety edges, laser scanners, safety light curtains, safety mats, and safety camera systems, detect hazardous conditions and trigger protective responses.
Safety sensors can detect if a person is too close to a machine, triggering an alarm or shutting down the machine. Safety light curtains create a detection screen that guards access points and perimeters, preventing human injury and machine damage.

Rise in Implementation of Embedded Components in Machine Safety Systems
Embedded components accounted for a notable share of the global market in 2021 and are expected to dominate during the forecast period. These systems offer enhanced operator safety, increased machine productivity, and lower installation costs. Embedded components reduce hardware costs, cabling needs, and circuit breakers, simplifying installation and ensuring safer working environments.

Regional Outlook
Asia Pacific held the largest value share of the global machine safety market in 2021, driven by well-established players in China, Japan, and India. Industrial growth and rising R&D activities in automotive, manufacturing, and healthcare industries are fueling market growth in the region. China, the largest manufacturer of machine safeguarding solutions, is expected to significantly contribute to market expansion.
North America and Europe also accounted for vital shares of the global market in 2021. Growth in manufacturing, automotive, and mining sectors, along with expansion of the manufacturing sector in the U.S., is augmenting market demand in these regions.

Key Players
The global machine safety market is consolidated, with many medium- and large-scale vendors controlling the majority share. Leading firms are investing significantly in R&D and adopting innovative strategies such as expanding product portfolios and forming partnerships and collaborations.
Top companies in the machine safety market include ABB Ltd., Omron Corporation, Balluff GmbH, Banner Engineering Corp., Emerson Electric Co., Sick AG, Honeywell International Inc., Rockwell Automation, Inc., Keyence Corporation, Yokogawa Electric Corp., Mitsubishi Electric Corporation, Pilz GmbH & Co. KG, Schneider Electric SE, and Siemens AG.

Recent Developments
• In September 2021, Omron Automation Americas launched the D41D high-coded non-contact door switch for safeguarding machine tools and robotic cells.
• In October 2020, Rockwell Automation, Inc. introduced the 440G-MZ and 440G-EZ safety switches, expanding their safety switch portfolio.

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