Machine Safety Market Size To Reach US$ 7.5 Billion by 2028 | Industry Growth Rate CAGR 6.2%

March 22 01:11 2023
Machine Safety Market Size To Reach US$ 7.5 Billion by 2028 | Industry Growth Rate CAGR 6.2%
Machine Safety Market Report 2023-2028
The global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

IMARC Group latest research study “Machine Safety Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, finds that the global machine safety market size reached US$ 5.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Machine safety is essential for protecting machinery, minimizing work-related injuries, and improving operational efficiency. Some commonly used machine safety devices include safety sensors and interlock switches, safety edges, laser scanners, safety light barriers, safety camera systems, protective clothing, two-hand safety control, emergency stop devices, presence sensor devices, safety controllers, relays, and modules. They are designed to eliminate mechanical hazards to personnel by safeguarding hot surfaces, moving parts, and sharp edges of machines that might lead to serious workplace injuries or accidents. They also provide enhanced productivity, reduce machine downtime and maintenance costs, and speed up operations. As a result, machine safety devices are widely adopted in the automotive, semiconductor, power generation, healthcare, and food and beverage (F&B) sectors.

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Machine Safety Market Trends and Drivers:

The market is primarily driven by the rising workplace accidents and injuries across various industrial sectors, such as manufacturing, electronics, and oil and gas. In addition, rapid industrialization, the growing awareness regarding machine safety among workers, and extensive investments in the upgradation of existing machinery to eliminate safety risks are contributing to the market growth.

Moreover, the introduction of the internet of things (IoT) for integrated safety and compliance and real-time monitoring and analysis, resulting in enhanced performance, and the advent of industry 4.0 represent other major growth-inducing factors. Besides this, governments of several countries and international organizations are introducing stringent safety standards for machinery in industries and manufacturing facilities, providing a positive thrust to market growth.

Furthermore, the introduction of innovative product variants to enhance reliability, efficiency, and safety and ongoing research and development (R&D) activities and mergers and acquisitions among key players are also creating a favorable market outlook.

Machine Safety Market Report Scope

Report Coverage


Market size value in 2022

US$ 5.2 Billion

Market forecast in 2028

US$ 7.5 Billion

Growth Rate

CAGR of 6.2% from 2023 to 2028

Base year for estimation


Historical data


Forecast period


Global Machine Safety Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Machine Safety Companies:


Banner Engineering Corp.

Emerson Electric Co. (NYSE: EMR)

Honeywell International Inc. (NASDAQ: HON)

IDEC Corporation

Keyence Corporation

Mitsubishi Electric Corporation

OMRON Corporation

Pilz GmbH & Co. KG

Rockwell Automation Inc.

Schneider Electric SE

Sick AG 

Siemens AG.

The report has segmented the market on the basis of region, implementation, component and end use industry.

Breakup by Implementation:

  • Individual Components
  • Embedded Components

Breakup by Component:

  •  Presence Sensing Safety Sensors
  • Emergency Stop Devices
  • Safety Interlock Switches
  • Safety Controller/Modules/Relays
  • Others

Breakup by End Use Industry:

  • Automotive
  • Electronics and Semiconductors
  • Food and Beverages
  • Healthcare and Pharmaceuticals
  • Metals and Mining
  • Oil and Gas
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

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If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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