The global machine safety market size grew from $4.91 billion in 2022 to $5.26 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The machine safety market size is expected to grow to $7.27 billion in 2027 at a CAGR of 8.4%.
The machine safety market segments in the report are:
By Implementation
Individual Components
Embedded Components
By Component
Presense Sensing Safety Sensors
Safety Interlock Switches,
Safety Controllers/Modules/Relays\Programmable Safety Systems
Emergency Stop Controls
Two-Hand Safety Controls
By System
Assembly
Material Handling
Metal Working
Packaging
Robotics,
Other Systems
By Industry
Oil And Gas
Energy And Power
Chemicals
Food And Beverages
Aerospace And Defense
Automotive
Semiconductor And Electronics
Healthcare And Pharmaceuticals
Metals And Mining
Other Industries
Western Europe was the largest region in the machine safety market in 2022.
Get More Information On The Machine Safety Market Report:
https://www.thebusinessresearchcompany.com/report/machine-safety-global-market-report
The table of contents in TBRC’s machine safety market report includes:
1. Executive Summary
2. Machine Safety Market Characteristics
3. Machine Safety Market Trends And Strategies
4. Machine Safety Market – Macro Economic Scenario
5. Machine Safety Market Size And Growth
……………..
26. Africa Machine Safety Market
27. Machine Safety Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Machine Safety Market
29. Machine Safety Market Future Outlook and Potential Analysis
30. Appendix
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Market OverviewMarket Research Future (MRFR) highlights In its research report that the global safety valve market size is slated to reach USD 5.12 billion by 2025, at 5.02% CAGR over the review period of 2019 to 2025.
In addition, the introduction of safety valves into the Internet of Things (IoT) system is expected to create opportunities for market players in the global security valve industry.
Nevertheless, in some parts of the world slow growth in oil & gas exploration is expected to curb the development of the safety valve market.Segmental AnalysisThe global safety valve market has been analyzed based on material, size, and end-use.
The steel segment is expected to lead the global market as these valves are durable and do not drop in hot or cold temperatures.
Based on the size, the global market is segmented into 1” to 10”, less than 1”, and 11” to 20”, and 20” & above.
The 1” to 10” segment is slated to grow with the fastest CAGR during the forecast period as the safety valves of this size range are used to control the flow and pressure of gases, liquids, and slurries within different end-use industries.
