Machine Safety Global Market Report 2024

Machine safety involves the use of sensors, devices, or switches to control workplace accidents and enhance production efficiency. Its primary goal is to safeguard workers from the hazards associated with machinery and its potential detrimental effects. Machine safety controllers play a crucial role in monitoring both safety and non-safety input devices, enabling safe stop and start functions for machines with motion.

The main types of machine safety implementations include individual and embedded components. Individual machine safety components are utilized for specific machine elements, encompassing structural components, mechanics, and control components. These individual components, also known as hardware, consist of presence sensing safety sensors, safety interlock switches, safety controllers/modules/relays, programmable safety systems, emergency stop controls, and two-hand safety controls. Various systems, such as those in assembly, material handling, metalworking, packing, robotics, and others, require the incorporation of machine safety measures. Industries such as chemicals, food and beverages, aircraft and military, automotive, semiconductor and electronics, healthcare and pharmaceuticals, metals and mining, and more, make use of machine safety for their operations.

The machine safety market research report is one of a series of new reports that provides machine safety market statistics, including machine safety industry global market size, regional shares, competitors with a machine safety market share, detailed machine safety market segments, market trends and opportunities, and any further data you may need to thrive in the machine safety industry. This machine safety market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The machine safety market size has grown strongly in recent years. It will grow from $5.33 billion in 2023 to $5.81 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth observed in the historical period can be attributed to factors such as a heightened awareness of occupational hazards and accidents, the expansion of industrial automation and manufacturing activities, a growing imperative to prevent accidents and ensure worker safety, a focus on employee welfare and health in workplaces, and the stringent enforcement of safety regulations in various industries.

The machine safety market size is expected to see strong growth in the next few years. It will grow to $8.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the forecast period can be attributed to several factors, including the integration of machine safety systems with Industrial IoT (IIoT) platforms, a rising demand for machine learning and AI-powered safety solutions, the expansion of robotics and collaborative robot (cobot) applications, a focus on human-machine collaboration and safe interaction, and ongoing research and development in next-generation safety devices and systems. Major trends expected in this period encompass the use of machine learning for predictive safety analysis, the implementation of emergency stop devices and alarms, the adoption of safety PLCs and programmable safety systems, real-time monitoring and reporting of safety incidents, and the utilization of safety interlock switches and lockout/tagout systems.

The machine safety market is anticipated to experience significant growth due to the enforcement of strict machine safety mandates during the forecast period. As a response to increasing workplace accidents and inadequate public safety management, government and international organizations are introducing stringent machine safety mandates for workplace machinery. These mandates aim to facilitate safer machinery use and improved safety management. For instance, in August 2021, the Bureau of Indian Standards (BIS) implemented 32 ISO standards for machinery safety, aligning with GPQI's (Global Project Quality Infrastructure) assistance. GPQI, in collaboration with the VDMA, has been aiding the Indian sector in adopting foreign standards, emphasizing the necessity of machinery rules in India. The European Union Machinery Safety Directive is presented as a model foundation for creating Indian standards, contributing to the reduction of technical trade barriers while ensuring worker and environmental protection. Consequently, the imposition of strict machine safety mandates is a driving force behind the machine safety market.

The rising demand in the oil and gas industry is expected to further propel the growth of the machine safety market. The global oil and gas industry, covering exploration, extraction, refining, distribution, and marketing of petroleum products, necessitates machine safety measures for worker protection, asset preservation, and environmental conservation. Implementing machine safety practices in this sector enhances operational efficiency and ensures compliance with legal and regulatory requirements. Notably, in October 2023, the U.S. Energy Information Administration reported an increase in U.S. crude oil output to 12.4 million b/d in 2023, up from the record-high of 11.7 million b/d in 2022. Additionally, in September 2022, the U.S. consumed an average of 86.6 billion cubic feet of natural gas per day (Bcf/d) in 2022, marking the highest annual consumption compared to the previous year. The growing demand in the oil and gas industry is thus expected to drive the machine safety market.

Technological advancement emerges as a prominent trend in the machine safety market. Major companies in this sector are committed to delivering technologically advanced solutions, incorporating next-generation technologies such as ultrasound, infrared, magnetic, radio technology, laser scanners, safety controllers, encoders, and interlock switches. These technologies effectively communicate potential mechanical issues and help control injuries caused by machines. For instance, in August 2021, OMRON Corporation introduced the VT-S10 Series, employing artificial intelligence and image technology to automate high-precision processes for PCB sub-assemblies.

Major companies in the machine safety market are focusing on innovative products, such as the 1S Series AC servo system1 with PLe/SIL3 safety functions, to drive market revenues. This system streamlines commissioning tasks and enhances equipment performance while ensuring safe machine operation in the presence of operators. In January 2021, Omron Corporation launched the 1S Series AC servo system1 with PLe/SIL3, contributing to safer working conditions and increased output in various industries. The AC Servo System with Safety Functionality offers eight safety features meeting PLe/SIL3*2 requirements, ensuring the highest level of safety for workers, equipment, and goods while optimizing manufacturing machinery efficiency.

In June 2022, Clarion Safety Systems acquired Machine Safety Specialists for an undisclosed amount. This strategic acquisition aims to expand risk compliance and assessment offerings, providing clients with additional consulting and machine safety training services. Machine Safety Specialists, specializing in OSHA machine guarding, risk assessment, and safety training, complements Clarion's portfolio in the safety systems industry.

Major companies operating in the machine safety market include ABB Group, Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Rockwell Automation Inc., Siemens AG, Mitsubishi Electric Corporation, Keyence Corporation, OMRON Corporation, SICK AG, B&R Industrial Automation GmbH, Pilz GmbH & Co. KG, IDEC Corporation, ISE Controls Pvt. Ltd., Banner Engineering Corp., Fortress Interlocks Ltd., Pepperl+Fuchs GmbH, STI GmbH, Hans Turck GmbH & Co. KG, Yokogawa Electric Corporation, Leuze electronic GmbH + Co. KG, Balluff GmbH, Datalogic S.p.A., Euchner-USA Inc., Schmersal Group, Wieland Electric GmbH

Western Europe was the largest region in the machine safety market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the global machine safety industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the machine safety market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The machine safety market consists of sales of safety sensors, safety interlock switches, and safety controllers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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