The global Machine Safety market is expected to grow from USD 5.2 billion in 2023 to USD 6.8 billion by 2028, registering a CAGR of 5.7%. The market's growth is attributed to the surging demand for modular end effectors by various industries.
Emerson Electric Co. (US), Schneider Electric (France), Honeywell International Inc. (US), Rockwell Automation, Inc. (US) and Siemens AG (Germany) are the top five players in the Machine Safety market. These companies have a worldwide presence and offer a wide range of Machine Safety and related solutions and services. They rely on their R&D capabilities and diversified product and service portfolios to increase their market share.
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Top 3 Players in Machine Safety Market:
Emerson Electric Co. manufactures and develops process controls, systems, valves, and analytical instruments. The company offers industrial, commercial, automation, and residential solutions worldwide. It operates through three business segments—Automation Solutions, AspenTech, and Commercial & Residential Solutions.
Emerson Electric Co. provides machine safety solutions under the Automation Solutions segment. The company offers safety solutions to customers operating in the process and discrete industries. With the company's extensive industry experience as a foundation, automation businesses can create more comprehensive solutions for clients. Emerson Electric Co. uses global reach, subject-matter knowledge, and industrial software to support industries in achieving important operational and sustainability objectives. The company's robust technological and engineering capabilities give it a competitive advantage in the machine safety market. Emerson offers a range of safety components for machine safety solutions, including actuators, valves, digital valve controllers, solenoid valves, and pressure transmitters. These products meet the safety requirements outlined by the Safety Requirements Specifications (SRS). Also, the SIL level is maintained throughout the lifetime of the installation of the products offered by the company.
Schneider Electric offers hardware, software, and services related to energy management and automation solutions. It is strategically positioned to provide software solutions to conduct visualization and supervisory control, real-time operation management, asset management, and information management activities in process industry plants. Schneider Electric operates through two main business segments: Energy Management and Industrial Automation.
The company offers machine safety solutions through the Industrial Automation business segment. The company provides SIL 3 -certified safety solutions that ensure the fail-safe performance of controllers for energize-to-trip and de-energize-to-trip applications. Triconex, a brand of Schneider Electric, provides Trident safety instrumented systems with SIL 3 certification. These safety systems feature high scalability, with applications as low as 32 I/O points per system to as high as 40,000 I/O points. Schneider Electric has a robust portfolio of machine safety-certified emergency stop devices and safety instrumented systems. The company also has expertise in distributed control systems (DCS).
Honeywell International Inc.
Honeywell International Inc. is one of the leading players in industrial automation. The company offers aerospace products and services; control, sensing, and security technologies for homes, buildings, and industrial facilities; performance materials; and safety and productivity solutions. It also offers automotive products, specialty chemicals, turbochargers, and electronic materials, including electronic chemicals and polymers, targets, coil sets, metals, advanced materials, such as environmentally preferable refrigerants, and reagents for chemical and analytical materials. The company operates through four business segments—Aerospace, Performance Materials and Technologies, Honeywell Building Technologies, and Safety and Productivity Solutions. Honeywell offers a wide range of solutions related to machine safety through its Safety and Productivity Solutions segment. The company offers safety systems and solutions such as integrated control and safety systems, distributed control systems, control monitoring and safety systems, and industrial wireless solutions for control, monitoring, and safety systems. It also offers safety solutions to deploy in manufacturing execution systems (MES), sensors, and switches. The company is well known for its safety solution capabilities, safety life cycle services, and vertical domain expertise. Safety products offered by the company are SIL-certified. Honeywell Process Solutions (HPS) is a business unit of Honeywell International, Inc. The company is a pioneer in process automation control. HPS offers safety instrumented systems for chemical plants, emergency shutdown systems for oil companies, safety management systems for power plants, etc., across many industries, including oil & gas, paper & pulp, chemical & petrochemical, power generation, biofuels, life sciences, and metals.
Machine Safety Market by Component (Presence detection Sensors, Safety Controllers/Modules/Relays, Programmable Safety Systems, Emergency Stop Controls, Two-Hand Safety Controls), offerings, Industry & Region - Forecast to 2028
Functional Safety Companies
Mr. Aashish Mehra
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