DUBLIN, May 9, 2018 /PRNewswire/ --
The "Safety Switch Market by Product (Contact Switch and Non-Contact Switch), Safety System (ESD, HIPPS, BMS, Fire & Gas Monitoring Systems, and Turbomachinery Control Systems), Vertical (Oil & Gas, Chemical), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The safety switch market is expected to grow from USD 1.24 Billion in 2018 to USD 1.55 Billion by 2023, at a CAGR of 4.5% between 2018 and 2023.
The growth of this market is fueled by the growing adoption of automation in hazardous industrial areas, increasing government intervention for equipment and personnel safety in industries, and rising demand for non-contact door switches to improve the stability of doors and guards. Developments in the safety switch market ecosystem through organic and inorganic growth strategies, such as product developments, merger and acquisition, partnerships, collaborations, and agreements further drive the growth of this market.
The key restraining factor for the growth of the safety switch market is the high investment required for automation implementation and maintenance of equipment in hazardous environments. The consumers of safety switch are the key players in industries such as metal & mining, utility, oil & gas, consumer electronics, medical, food & beverage, chemical, and other discrete industries.
The major demand for safety switches is from the oil & gas and food & beverage industries. Oil & gas drilling and servicing activities are undertaken in hazardous environments, which, in turn, mandate the installation of safety systems for such activities. The growing automation in food & beverage industry to satisfy changing demands also contributes to the growth of safety switch market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Safety Switch Market
4.2 Safety Switch Market, By Product Type
4.3 Safety Switch Market, By Safety System
4.4 Safety Switch Market, By Vertical
4.5 Safety Switch Market in APAC, By Country and Vertical
4.6 Safety Switch Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Adoption of Automation in Hazardous Industrial Areas
5.2.1.2 Increasing Government Intervention for Equipment and Personnel Safety in Industries
5.2.1.3 Increasing Demand for Non-Contact Door Switches to Improve the Stability of Doors Or Guards
5.2.2 Restraints
5.2.2.1 High Investment Required for Automation Implementation and Maintenance of Equipment in Hazardous Environments
5.2.3 Opportunities
5.2.3.1 Rising Acceptance of Workplace Safety Standards in Emerging Economies
5.2.4 Challenges
5.2.4.1 Management of Competitiveness in the Supply Chain
5.3 Value Chain Analysis
6 Safety Switch Market, By Product Type
6.1 Introduction
6.2 Contact Safety Switch
6.2.1 Hinge Switches
6.2.2 Locking Switches
6.2.3 Other Contact Safety Switches
6.3 Non-Contact Safety Switch
6.3.1 Inductive Switches
6.3.2 Magnetic Switches
6.3.3 RFID Transponder Switches
7 Safety Switch Market, By Safety System
7.1 Introduction
7.2 Burner Management Systems (BMS)
7.3 Emergency Shutdown (ESD) Systems
7.4 Fire & Gas Monitoring Systems
7.5 High Integrity Pressure Protection Systems (HIPPS)
7.6 Turbomachinery Control (TMC) Systems
8 Safety Switch Market, By Vertical
8.1 Introduction
8.2 Oil & Gas
8.3 Energy & Power
8.4 Chemical
8.5 Pharmaceutical
8.6 Food & Beverage
8.7 Metal & Mining
8.8 Pulp & Paper
8.9 Water & Wastewater Treatment
8.10 Packaging
8.11 Commercial
8.12 Others
9 Safety Switch Market, By Region
10 Competitive Landscape
10.1 Introduction
10.2 Ranking Analysis of Market Players
10.3 Competitive Scenario
10.3.1 Product Launches and Developments
10.3.2 Agreements, Collaborations, Partnerships, Joint Ventures, Expansions, and Contracts
11 Company Profile
11.1 Introduction
11.2 Key Players
11.2.1 ABB
11.2.2 General Electric
11.2.3 Rockwell
11.2.4 Schneider Electric
11.2.5 Siemens
11.2.6 Eaton
11.2.7 Honeywell
11.2.8 Omron
11.2.9 Pilz
11.2.10 SICK
11.3 Other Players
11.3.1 Banner Engineering
11.3.2 BERNSTEIN
11.3.3 Emerson
11.3.4 EUCHNER
11.3.5 Fortress Interlocks (Halma PLC)
11.3.6 IDEC
11.3.7 IDEM
11.3.8 Pepperl+Fuchs
11.3.9 Schmersal
11.3.10 R. Stahl AG
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