A recent report published by Infinium Global Research on machine safety market provides in depth analysis of segments and sub-segments in global as well as regional markets of machine safety market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional markets of machine safety over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global machine safety market. According to report the global machine safety market is projected to grow at a CAGR of 6.1% over the forecast period of 2018 - 2024.
Adoption of standards irrespective of government involvement is expected to drive the machine safety market. Additionally, increasing accidents at workplaces in developed countries is one of the important factors driving the demand for the machine safety. However, invasion of additional cost may restrain the growth of the market. Moreover, the demand for machine safety products such as emergency stop controls, pressure sensing safety sensors, and other machine safety devices have suddenly increased and thus the growth of the market is providing certain growth opportunities for global machine safety market in the upcoming years.
The report on global machine safety market covers segments such as product, implementation and application. The product segments include PLCS, modules, safety sensors, controllers, relays and e-stop controls. On the basis of implementation the global machine safety market is categorized into individual components and embedded components. Furthermore, on the basis of application the machine safety market is segmented as material handling, robotics, assembly, metal working, packaging, welding and others.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2016 – 2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia and among others. Moreover, European region covers countries such as Germany, UK, France, Spain, and rest of Europe. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018 - 2024.
The report provides profiles of the companies in the global machine safety market such as, Honeywell International Inc, Euchner GmbH + Co. Kg , ABB Ltd. , PILZ GmbH & Co. Kg , Rockwell Automation Inc, Mitsubishi Electric Corporation , Schneider Electric SE , Phoenix Contact GmbH & Co. Kg, Siemens AG , and IDEC Corporation .
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