Safety Switch Market: Global Industry Analysis (2022-2027) by Product Type, Safety System, Vertical, and Region

Safety Switch Market size was valued at US$ 1.42 Bn. in 2021 and the total Safety Switch revenue is expected to grow at 4.2 % through 2022 to 2027, reaching nearly US$ 1.82 Bn.

Safety Switch Market Overview:

A safety switch is a device that detects faults of various electrical applications by monitoring electric current. In the event of an electrical leak, short-circuit, or equipment failure the safety switch will cut off power instantly (within milliseconds). When an electrical fault is detected, a safety switch immediately shuts down the power supply. By shutting off the electrical supply automatically, Safety Switch decreases the risk of electricity-related fires, electric shock, injury, and death. As a result, these switches are commonly used in several industries such as pharmaceuticals, oil & gas, and chemicals. Furthermore, many organizations use safety switches in the workplace to avoid workplace hazards, protect employees, and achieve corporate safety regulations. According to the National Fire Protection Association's National Electrical Code (NEC), safety switches are required in all commercial and industrial applications (NFPA). According to NEC code 430.102B, a safety switch must be installed on all motors or production equipment. Safety Switch Market To know about the Research Methodology :- Request Free Sample Report In this report, the Safety Switch market's growth reasons, as well as the market's many segments (Product Type, Safety System, Vertical, and Region), are discussed. Data has been given by market players, regions, and specific requirements. This market report includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the Safety Switch market's Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the global Safety Switch market situation.

Safety Switch Market Dynamics:

The growing use of safety switches in industries such as food and beverage, mining, pharmaceuticals, oil and gas and automotive is helping to drive the Safety Switch market. Strict safety regulations to protect workers in manufacturing industries are one of the primary drivers for the safety switch market. Safety sensors and switches are employed in a wide range of applications in manufacturing procedures such as assembly, material handling, conveyor systems, and transport systems. Thus, the introduction of energy-efficient and environmentally friendly systems is fueling demand for these safety switches during the forecast period. Technological innovation has increased the manufacturing plants with heavy machinery. The growing economies of developing and emerging countries are creating opportunities for setting up more production facilities. Hence, the demand for safety switches for safety purposes in manufacturing plants is also increased during the forecast period. Furthermore, the need for safety switches is being driven by the desire for a safer working environment. These safety switches are essential for safe and efficient operation in hazardous areas such as grain elevators, offshore drilling, petrochemical, and waste treatment plants, paint booths, and hazardous waste processing facilities. The safety switch market is restrained by high costs associated with automation and maintenance of equipment in hazardous environments, whereas the response to false signals and the ease of illegally overriding safety switches will pose a hurdle to safety switch market growth. Safety Switch Market

Safety Switch Market Segment Analysis:

By Product Type, the Non-contact Safety Switch segment is used widely at a global level. Non-contact safety switches are a type of safety switch that completes or breaks the circuit without the use of conductive contacts. It can be used in machine-guarding operations to protect employees in potentially hazardous areas. Non-contact safety switches are preferable since they last a long time and require little maintenance. They are also shock-proof and can withstand higher levels of vibration, and they are also tamper-proof to some extent. By Safety System, Fire & Gas Monitoring Systems segment is expected to grow at the highest CAGR of 4.1% during the forecast period. Fire-rated switch disconnectors maintain the power of the essential equipment to facilitate the safe evacuation from buildings, parking, construction sites, or other public areas in case of fire. The emergency shutdown system segment has also boosted the growth of the safety switch market nowadays and is predicted to grow its revenue throughout the forecast period. The purpose of an emergency shutdown switch is to reduce existing hazards to persons, work, or machinery caused by the activity of a machine. An emergency shutdown switch is connected to the circuit of a mechanical or electrical system, where the circuit cuts and disconnects the power supply to the machine in case of an emergency.

Safety Switch Market Segment Analysis:

By Product Type, the Non-contact Safety Switch segment is used widely at a global level. Non-contact safety switches are a type of safety switch that completes or breaks the circuit without the use of conductive contacts. It can be used in machine-guarding operations to protect employees in potentially hazardous areas. Non-contact safety switches are preferable since they last a long time and require little maintenance. They are also shock-proof and can withstand higher levels of vibration, and they are also tamper-proof to some extent. By Safety System, Fire & Gas Monitoring Systems segment is expected to grow at the highest CAGR of 4.1% during the forecast period. Fire-rated switch disconnectors maintain the power of the essential equipment to facilitate the safe evacuation from buildings, parking, construction sites, or other public areas in case of fire. The emergency shutdown system segment has also boosted the growth of the safety switch market nowadays and is predicted to grow its revenue throughout the forecast period. The purpose of an emergency shutdown switch is to reduce existing hazards to persons, work, or machinery caused by the activity of a machine. An emergency shutdown switch is connected to the circuit of a mechanical or electrical system, where the circuit cuts and disconnects the power supply to the machine in case of an emergency. Safety Switch Market By Vertical, the oil & gas industry segment uses high-performance safety switches to ensure the safety and continuity of machinery and process. Safety switches can prevent overspill or run dry situations. Explosions and failures that occur in the Oil and gas industry have led to dangerous results. Thus, the oil and gas industries installed the safety switches to detect the smallest amounts of liquid, expensive damage, loss of service, and downtime.

Safety Switch Market Regional Insights:

In Europe, Safety Switch Market is expected to grow at CAGR of xx% during the forecast period, owing to stringent safety standards made by government authorities which have a positive impact on the market. Many industries use safety switches in the workplace to prevent work-related hazards, protect their employees, and meet necessary safety standards. In North America, Industrial equipment safety has been going through a major transformation in the past years. Governments and many agencies have made stricter regulations regarding workplace safety. Thus, the safety switches market will experience growth over the forecast period. The objective of the report is to present a comprehensive analysis of the Safety Switch market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Safety Switch market dynamics, and structure by analyzing the market segments and projecting the Safety Switch market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Safety Switch market make the report investor’s guide.

Safety Switch Market Scope: Inquiry Before Buying

Global Safety Switch Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2027
Historical Data: 2017 to 2021 Market Size in 2021: US $ 1.42 Bn.
Forecast Period 2022 to 2027 CAGR: 4.2 % Market Size in 2027: US $ 1.82 Bn.
Segments Covered: by Product Type • Contact Switch • Non-contact Switch
by Safety System • Emergency Shutdown Systems • High Integrity Pressure Protection Systems • Burner Management Systems • Fire & Gas Monitoring Systems • Turbomachinery Control Systems
by Vertical • Oil & Gas • Energy & Power • Chemical • Pharmaceutical • Pulp & Paper • Metal & Mining • Water & Wastewater Treatment • Food & Beverage • Packaging • Commercial • Others

Safety Switch Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Safety Switch Market Key Players

• Schneider Electric • BERNSTEIN • Eaton • Emerson • EUCHNER • Fortress Interlocks • General Electric • Honeywell • IDEC • IDEM • Pepperl+Fuchs • R. Stahl AG • Rockwell • Schmersal • SICK • Siemens • Rockwell Automation, Inc. • Banner Engineering Corp. • ABB • Pilz GmbH & Co. KG • OMRON Corporation • Honeywell International Inc. FAQs: 1. Which is the potential market for the Safety Switch in terms of the region? Ans. In Europe region, many industries use safety switches in the workplace to prevent work-related hazards, protect their employees, and meet necessary safety standards. 2. What is expected to drive the growth of the Safety Switch market in the forecast period? Ans. Strict safety regulations to protect workers in manufacturing industries are one of the primary drivers for the safety switch market. 3. What is the projected market size & growth rate of the Safety Switch Market? Ans. Safety Switch Market size was valued at US$ 1.42 Bn. in 2021 and the total Safety Switch revenue is expected to grow at 4.2 % through 2022 to 2027, reaching nearly US$ 1.82 Bn. 4. What segments are covered in the Safety Switch Market report? Ans. The segments covered are Product Type, Safety System, Vertical, and Region.
1. Global Safety Switch Market: Research Methodology 2. Global Safety Switch Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Safety Switch Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Safety Switch Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Safety Switch Market Segmentation 4.1 Global Safety Switch Market, by Product Type (2022-2027) • Contact Switch • Non-contact Switch 4.2 Global Safety Switch Market, by Safety System (2022-2027) • Emergency Shutdown Systems • High Integrity Pressure Protection Systems • Burner Management Systems • Fire & Gas Monitoring Systems • Turbomachinery Control Systems 4.3 Global Safety Switch Market, by Vertical (2022-2027) • Oil & Gas • Energy & Power • Chemical • Pharmaceutical • Pulp & Paper • Metal & Mining • Water & Wastewater Treatment • Food & Beverage • Packaging • Commercial • Others 5. North America Safety Switch Market (2022-2027) 5.1 North America Safety Switch Market, by Product Type (2022-2027) • Contact Switch • Non-contact Switch 5.2 North America Safety Switch Market, by Safety System (2022-2027) • Emergency Shutdown Systems • High Integrity Pressure Protection Systems • Burner Management Systems • Fire & Gas Monitoring Systems • Turbomachinery Control Systems 5.3 North America Safety Switch Market, by Vertical (2022-2027) • Oil & Gas • Energy & Power • Chemical • Pharmaceutical • Pulp & Paper • Metal & Mining • Water & Wastewater Treatment • Food & Beverage • Packaging • Commercial • Others 5.4 North America Safety Switch Market, by Country (2022-2027) • United States • Canada • Mexico 6. Europe Safety Switch Market (2022-2027) 6.1. European Safety Switch Market, by Product Type (2022-2027) 6.2. European Safety Switch Market, by Safety System (2022-2027) 6.3. European Safety Switch Market, by Vertical (2022-2027) 6.4. European Safety Switch Market, by Country (2022-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Safety Switch Market (2022-2027) 7.1. Asia Pacific Safety Switch Market, by Product Type (2022-2027) 7.2. Asia Pacific Safety Switch Market, by Safety System (2022-2027) 7.3. Asia Pacific Safety Switch Market, by Vertical (2022-2027) 7.4. Asia Pacific Safety Switch Market, by Country (2022-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Safety Switch Market (2022-2027) 8.1 Middle East and Africa Safety Switch Market, by Product Type (2022-2027) 8.2. Middle East and Africa Safety Switch Market, by Safety System (2022-2027) 8.3. Middle East and Africa Safety Switch Market, by Vertical (2022-2027) 8.4. Middle East and Africa Safety Switch Market, by Country (2022-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Safety Switch Market (2022-2027) 9.1. South America Safety Switch Market, by Product Type (2022-2027) 9.2. South America Safety Switch Market, by Safety System (2022-2027) 9.3. South America Safety Switch Market, by Vertical (2022-2027) 9.4 South America Safety Switch Market, by Country (2022-2027) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 Schneider Electric 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 BERNSTEIN 10.3 Eaton 10.4 Emerson 10.5 EUCHNER 10.6 Fortress Interlocks 10.7 General Electric 10.8 Honeywell 10.9 IDEC 10.10 IDEM 10.11 Pepperl+Fuchs 10.12 R. Stahl AG 10.13 Rockwell 10.14 Schmersal 10.15 SICK 10.16 Siemens 10.17 Rockwell Automation, Inc. 10.18 Banner Engineering Corp. 10.19 ABB 10.20 Pilz GmbH & Co. KG 10.21 OMRON Corporation 10.22 Honeywell International Inc.

About This Report

Report ID 6833
Category Electronics
Published Date oct 2019
Updated Date April 2022
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