Machine Safety Market
Machine Safety Market: Automotive End Use Industry Segment Projected to Witness 2.3X Growth over the Forecast Period: Global Industry Analysis (2012 - 2016) and Opportunity Assessment (2017 - 2027)
- 2017-12-07
- REP-GB-650
- 356 pages
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An Incisive, In-depth Analysis on the Machine Safety Market
This study offers a comprehensive, 360 degree analysis on the Machine Safety market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Machine Safety market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
COVID -19 : Impact Analysis
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Request Covid -19 ImpactIncreasing accidents at workplaces is one of the important reasons for the growth of the global market for machine safety across the globe
Increasing accidents at workplaces are turning out to be the major threats for the industrial reputation of companies. Due to fatal injuries to the employees working near machines, industries are focussing on implementing machine safety measures. With the implementation of machine safety equipment, industries are focusing on delivering security to the employees as well as maintaining the safety of the machinery. Hence, increasing accidents at workplaces in developed countries are expected to drive the growth of the machine safety market over the forecast period.
Increasing government regulations on industries for delivering workplace occupational health to the workers is resulting in the increased importance and deployment of machine safety equipment at workplaces. These factors are resulting in the increasing importance of workplace occupational health for the employees, consequently these regulations are boosting the growth of the global machine safety market.
Emerging economies in APEJ such as India and China are witnessing a drift towards rapid urbanisation and rising consumer disposable incomes. Owing to this, 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 also expected to increase in various end use industries.
Automotive segment accounts for comparatively higher revenue share and is expected to remain dominant during the forecast period
With nearly 20% market share, automotive segment is projected to remain dominant throughout the forecast period. In terms of value, the automotive segment is projected to be the most attractive one in the global machine safety market during the forecast period. In 2017, the automotive segment is estimated to be valued at more than US$ 600 Mn, and is expected to witness steady growth in terms of revenue throughout the forecast period.
Regulations in North America, Latin America and Europe pertaining to occupational safety
Worker safety regulations in the United States are enforced through the Occupational Safety and Health Administration (OSHA). On the other hand, The Canada Labour Code (CLC) governs, among other items, occupational safety and health in federal works, undertakings and businesses including employment on ships, trains and aircraft while in operation, and employment in the oil and gas industry in Canada Lands. In Latin America machines, movable parts and safeguarding equipment shall be inspected regularly, maintained and repaired properly. It is mandatory in Mexico to train the employees about Health and Safety Documentation that is required in the workplace, and a description and format for the necessary preventive measures to ensure a safe work place.
The regulatory standards which address safety and occupational health in Brazil, known as NRs (Normas Regulamentadoras), are mandatory for public and private companies, public institutions of direct and indirect administration, as well as government organizations having employees under the Labor Laws Consolidation. European directives are crystal clear and the fundamental principal of the European community is the protection of the health of its citizens, both in the private and in the professional sphere. In accordance with the treaty on the functioning of the European Union, the European Commission and the Council of the European Union have passed various directives with the aim of achieving free movement of goods and protecting its citizens.
“Machine Safety Market: Global Industry Analysis (2012–2016) and Opportunity Assessment (2017–2027)” is the new report published by Future Market Insights that tracks the performance of the global machine safety market for a period of 10-years, i.e. between 2017 and 2027. The uniqueness of this report lies in the market share analysis and while working extensively on this, our expert team of analysts have covered expert validation, product mapping, segmental revenue and company financials. The company share analysis represents estimated market share for manufacturers and suppliers of machine safety based on their segmental revenue and product offerings. The market share analysis is subject to volatility due to recent divestments, expansions and mergers & acquisitions of players in the market.
Global Machine Safety Market: Market Share Analysis
We have validated the data through several primary interviews with industry experts and with the help of exhaustive secondary and primary research. The product mapping of machine safety manufacturers in the respective business segments of the company has been done to give the crystal clear market share scenario to our existing and potential clients. We have also mentioned the breakdown of the overall key players’ businesses into segments under which they operate in the global machine safety market. Accordingly, we have also calculated the annual revenue for each segment. Recording and analysing the overall annual revenue of key machine safety manufacturers was examined for the year 2016 on the basis of annual reports and secondary research
Forecast Assumptions and Market Sizing
When developing the market forecast, we have started by sizing the current market, which forms the basis for forecasting how the market is anticipated to perform in future. We have considered the product-wise Weighted Average Selling Price (ASP) to deduce market values at a regional level. We have used the bottom-up approach to counter-validate the reached numbers and End-Use Industry application-wise market numbers, while top-down approach has been used to assess market numbers for each product category. Macro-economic indicators such as GDP, wholesale & retail trade, merchandise trade, and prices have been considered to arrive at indicated market numbers. Market forecast has been done on the basis of current market scenario. However, in future, the market is expected to witness the entry of start-ups, which can change overall market dynamics. All values for market size are in US$ Mn (US Dollar-Million) and volume data are in units unless specified otherwise. BPS sum may not be equal to 100, due to rounding off of numbers.
Market Segmentation
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Research Methodology
Each primary interview is thoroughly analysed and average market volume is deduced and reconfirmed prior to incorporating in the report. The market value of the global machine safety market is calculated from the data provided by the average selling price and market volume. For the 10-year forecast of the global machine safety market, various macroeconomic factors and changing trends have been observed, giving an idea about the future of the market. Other important factors considered to arrive at market forecast are the size of the current market, inputs from the supply side and the demand side and other dynamics shaping the scenario of the market. In the compilation of the report, the forecasts are conducted in terms of CAGR, while other important criteria such as year-on-year growth and absolute dollar opportunity have also been incorporated presenting the client with crystal clear insights and future opportunities as far as the global machine safety market is concerned.
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