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According to a new report Global Machine Safety Market, published by KBV research, the Global Machine Safety Market size is expected to reach $5.6 billion by 2023, rising at a market growth of 5.9% CAGR during the forecast period.
The Embedded Component market holds the largest market share in Global Machine Safety Market by Implementation in 2016, and would continue to be a dominant market till 2023. The Individual Component market is expected to witness a CAGR of 7.2% during (2017 - 2023).
The KBV Cardinal Matrix is a visual representation about the key players in the industry. The matrix is designed considering the major strategic developments including Mergers & Acquisitions, product launches, partnership among others and the financial strength of the company in the considered years. The major strategies followed by the market participants are Product launches and Partnerships & Collaborations.
KBV Cardinal Matrix - Machine Safety Market
Source: KBV Research Analysis, Company Publications and Secondary Research
The Europe market holds the largest market share in Global Presence-Sensing Safety Sensors Market by Region in 2016, and would continue to be a dominant market till 2023; growing at a CAGR of 4.7 % during the forecast period. The North America market is expected to witness a CAGR of 5.1% during (2017 - 2023) in Global Emergency Stop Devices Market. Additionally, The Asia Pacific market is expected to witness a CAGR of 6.3% during (2017 - 2023).
The Automotive & Transportation market holds the largest market share in Global Machine Safety Market by End User in 2016, and would continue to be a dominant market till 2023. The Oil & Gas market is expected to witness a CAGR of 5.6% during (2017 - 2023). Additionally, The Chemicals market would garner market size of $836.0 million by 2023.
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the Global Machine Safety Market have been discussed in the report with the competition analysis and elaborated company profiles of Rockwell Automation, Schneider Electric SE, Mitsubishi Electric Corporation, Omron Corporation, ABB Group, Siemens AG, Honeywell International, Inc., SICK AG, Keyence Corporation, and Banner Engineering.
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