Global Safety Switch Market

Global Safety Switch Market is estimated US$ XX Bn in 2019 and is expected to reach US$ XX Billion by 2026, at a CAGR of XX % during the forecast period.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.

Global Safety Switch Market

The global safety switch market is segmented by product, safety systems, vertical, and region. In terms of product, the global safety switch market is classified into contact switch and non-contact switch. Based on systems, the global safety switch market is categorized into emergency shutdown systems, high integrity pressure protection systems, burner management systems, fire & gas monitoring systems, and turbo-machinery control systems. On the basis of vertical, the global safety switch market is divided into oil & gas, energy & power, chemical, pharmaceutical, pulp & paper, metal & mining, water & wastewater treatment, food & beverage, packaging, commercial, and others. Region wise into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

The key factors contributing to the growth of the global safety switch market are the flexibility of usage in varied applications, high market demand for safety equipment, the miniaturization of devices, and industrial safety standards. Operator safety is of utmost importance for any robot and machine installations and safety switch are anticipated to provide the expected level of protection. The surge in the economies of various emerging countries like Russia, Brazil, China, and India is creating opportunities for setting up of more production facilities and manufacturing plants, thus driving the market for safety switch globally. On the flip side, price sensitivity, the complexity of new technologies, and lack of adequate pro-activeness from various safety equipment manufacturers regarding product upgrades are challenging the growth of the market in the forecast period.

The safety switch market for non-contact safety switch is anticipated to grow at the highest CAGR between 2017 to 2024. Awareness regarding the benefits of non-contact safety switches, such as aligned measurement of guards and multiple doors switching error identification, is one of the most significant factors estimated to drive the growth of the non-contact safety switch market.

The safety switch market for food & beverage vertical is anticipated to grow at the highest CAGR between 2017 to 2024. Changes in consumer preferences have propelled manufacturers to focus on the production of food products with improved taste and quality. Companies in the food & beverage vertical are using advanced automation solutions to rise their production.

In terms of region, Europe is anticipated to hold the largest share of the safety switch market during the forecast period. The demand for safety switches in the European region is rising due to the implementation of safety systems in process industries. Moreover, the stringent safety regulations in the region have propelled the installation of safety systems in hazardous environments.

Some of the key players in the global safety switch market are General Electric, Schneider Electric, Rockwell, Siemens, ABB, Eaton, Honeywell, Omron, Pilz, and SICK.

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Scope of the Global Safety Switch Market

Global Safety Switch Market, by Product

• Contact Switch
o Single Pole Single Throw (SPST)
o Single Pole Double Throw (SPDT)
o Double Pole Single Throw (DPST)
o Double Pole Double Throw (DPDT)
• Non-contact Switch
Global Safety Switch Market by Safety Systems

• Emergency Shutdown Systems
• High Integrity Pressure Protection Systems
• Burner Management Systems
• Fire & Gas Monitoring Systems
• Turbo-machinery Control Systems
Global Safety Switch Market by Vertical

• Oil & Gas
• Energy & Power
• Chemical
• Pharmaceutical
• Pulp & Paper
• Metal & Mining
• Water & Wastewater Treatment
• Food & Beverage
• Packaging
• Commercial
• Others
Global Safety Switch Market by Geography

• North America
• Europe
• Asia-Pacific
• Middle East & Africa
• Latin America
Key Players operating in the Global Safety Switch Market

• ABB
• Banner Engineering
• BERNSTEIN
• Eaton
• Emerson
• EUCHNER
• Fortress Interlocks
• General Electric
• Honeywell
• IDEC
• IDEM
• Omron
• Pepperl+Fuchs
• Pilz
• R. Stahl AG
• Rockwell
• Schmersal
• Schneider Electric
• SICK
• Siemens

 

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