1	INTRODUCTION	32
1.1	STUDY OBJECTIVES	32
1.2	MARKET DEFINITION	32
1.2.1	INCLUSIONS AND EXCLUSIONS	33
1.3	STUDY SCOPE	33
1.3.1	MARKETS COVERED	33
1.3.2	YEARS CONSIDERED	34
1.4	CURRENCY CONSIDERED	34
1.5	LIMITATIONS	34
1.6	STAKEHOLDERS	34
1.7	SUMMARY OF CHANGES	35
1.7.1	RECESSION IMPACT ANALYSIS	35
2	RESEARCH METHODOLOGY	36
2.1	RESEARCH DATA	36
FIGURE 1	RESEARCH DESIGN	36
2.1.1	SECONDARY DATA	37
2.1.1.1	Secondary sources	37
2.1.1.2	Key data from secondary sources	38
2.1.2	PRIMARY DATA	38
2.1.2.1	Breakdown of primary interviews	38
2.1.2.2	Key data from primary sources	39
2.1.3	PRIMARY AND SECONDARY RESEARCH	40
2.1.3.1	Key industry insights	41
2.2	MARKET SIZE ESTIMATION	41
FIGURE 2	REVENUE GENERATED BY COMPANIES IN MACHINE SAFETY MARKET	42
2.2.1	BOTTOM-UP APPROACH	42
2.2.1.1	Approach to arrive at market size using bottom-up analysis (supply-side)	42
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	43
2.2.2	TOP-DOWN APPROACH	43
2.2.2.1	Approach to arrive at market size using top-down analysis (demand-side)	43
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	44
2.3	DATA TRIANGULATION	44
FIGURE 5	DATA TRIANGULATION	44
2.4	RESEARCH ASSUMPTIONS	45
FIGURE 6	RESEARCH ASSUMPTIONS	45
2.5	IMPACT ANALYSIS OF RECESSION ON MACHINE SAFETY MARKET	45
2.6	RISK ASSESSMENT	46
3	EXECUTIVE SUMMARY	47
FIGURE 7	SYSTEMS TO HOLD LARGEST MARKET SHARE IN 2024	47
FIGURE 8	PROGRAMMABLE SAFETY SYSTEMS TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD	48
FIGURE 9	PROCESS INDUSTRIES TO SECURE LEADING MARKET POSITION DURING FORECAST PERIOD	48
FIGURE 10	FOOD & BEVERAGE TO BE LARGEST PROCESS INDUSTRY DURING FORECAST PERIOD	49
FIGURE 11	AEROSPACE TO BE LARGEST DISCRETE INDUSTRY DURING FORECAST PERIOD	49
FIGURE 12	ASIA PACIFIC TO BE FASTEST-GROWING REGION DURING FORECAST PERIOD	50
4	PREMIUM INSIGHTS	51
4.1	ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN MACHINE SAFETY MARKET	51
FIGURE 13	SURGE IN INDUSTRIAL AUTOMATION TO DRIVE GROWTH	51
4.2	MACHINE SAFETY MARKET, BY OFFERING	51
FIGURE 14	SYSTEMS TO SURPASS SENSORS DURING FORECAST PERIOD	51
4.3	MACHINE SAFETY MARKET, BY COMPONENT	52
FIGURE 15	PRESENCE DETECTION SENSORS TO BE LARGEST SEGMENT DURING FORECAST PERIOD	52
4.4	MACHINE SAFETY MARKET, BY INDUSTRY	52
FIGURE 16	PROCESS INDUSTRIES TO EXHIBIT FASTEST GROWTH DURING FORECAST PERIOD	52
4.5	MACHINE SAFETY MARKET, BY COUNTRY	53
FIGURE 17	INDIA TO RECORD HIGHEST CAGR DURING FORECAST PERIOD	53
5	MARKET OVERVIEW	54
5.1	INTRODUCTION	54
5.2	MARKET DYNAMICS	54
FIGURE 18	MACHINE SAFETY MARKET DYNAMICS	54
5.2.1	DRIVERS	55
5.2.1.1	Focus of industrial sector on personnel and asset protection	55
5.2.1.2	Enforcement of stringent machinery and equipment safety regulations	55
5.2.1.3	Adoption of automation to improve efficiency and productivity	55
FIGURE 19	MACHINE SAFETY MARKET: IMPACT ANALYSIS OF DRIVERS	56
5.2.2	RESTRAINTS	56
5.2.2.1	Huge capital requirement for installing and automating machine safety systems	56
5.2.2.2	Complexities associated with machine safety systems	56
FIGURE 20	MACHINE SAFETY MARKET: IMPACT ANALYSIS OF RESTRAINTS	57
5.2.3	OPPORTUNITIES	57
5.2.3.1	Increasing awareness about workplace safety standards in emerging economies	57
5.2.3.2	Rising use of IIoT to ensure improved performance and prolonged lifespan of industrial assets	57
FIGURE 21	MACHINE SAFETY MARKET: IMPACT ANALYSIS OF OPPORTUNITIES	58
5.2.4	CHALLENGES	58
5.2.4.1	Difficulties in designing machine safety products due to continuous technological advancements	58
5.2.4.2	Failure to assess potential risks associated with machinery setup	58
FIGURE 22	MACHINE SAFETY MARKET: IMPACT ANALYSIS OF CHALLENGES	59
5.3	SUPPLY CHAIN ANALYSIS	59
FIGURE 23	SUPPLY CHAIN ANALYSIS	59
5.3.1	RAW MATERIAL PROVIDERS	60
5.3.2	COMPONENT MANUFACTURERS	60
5.3.3	SYSTEM INTEGRATORS	60
5.3.4	DISTRIBUTORS AND RETAILERS	60
5.3.5	END USERS	60
5.3.6	POST-SALES SERVICE PROVIDERS	60
5.4	ECOSYSTEM MAPPING	61
FIGURE 24	ECOSYSTEM MAPPING	61
TABLE 1	ROLE OF COMPANIES IN ECOSYSTEM	61
5.5	PRICING ANALYSIS	62
TABLE 2	AVERAGE SELLING PRICE OF MACHINE SAFETY COMPONENTS OFFERED BY KEY PLAYERS (USD)	63
FIGURE 25	AVERAGE SELLING PRICE OF MACHINE SAFETY COMPONENTS OFFERED BY KEY PLAYERS (USD)	63
FIGURE 26	AVERAGE SELLING PRICE OF MACHINE SAFETY SYSTEMS, 2023–2028 (USD)	63
TABLE 3	AVERAGE SELLING PRICE OF MACHINE SAFETY SYSTEMS, BY REGION (USD)	64
5.6	TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	64
FIGURE 27	TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES	64
5.7	PORTER’S FIVE FORCES ANALYSIS	65
FIGURE 28	PORTER’S FIVE FORCES ANALYSIS	65
TABLE 4	PORTER’S FIVE FORCES ANALYSIS	65
5.7.1	THREAT OF NEW ENTRANTS	66
5.7.2	THREAT OF SUBSTITUTES	66
5.7.3	BARGAINING POWER OF SUPPLIERS	66
5.7.4	BARGAINING POWER OF BUYERS	66
5.7.5	INTENSITY OF COMPETITIVE RIVALRY	66
5.8	CASE STUDIES	67
5.8.1	ELOPAK INSTALLS ASEPTIC FILLING MACHINE FOR GABLE TOP PACKAGING WITH ROBUST PNEUMATICS FROM EMERSON AVENTICS	67
5.8.2	MP EQUIPMENT COLLABORATES WITH ROCKWELL AUTOMATION SAFETY CONSULTANTS TO RE-EVALUATE PROTEIN PORTIONING MACHINE DESIGN	67
5.8.3	MOLLART ENGINEERING SELECTS PROCTER MACHINE SAFETY’S ENCLOSED GUARDS TO INSTALL IN ITS MACHINE TOOLS	68
5.9	TECHNOLOGY TRENDS	68
5.9.1	COMPUTER VISION	68
5.9.2	AUTOMATED MACHINE LEARNING (AUTOML)	68
5.9.3	INTERNET OF THINGS (IOT)	68
5.9.4	VIRTUAL REALITY (VR)	69
5.10	KEY STAKEHOLDERS AND BUYING CRITERIA	69
5.10.1	STAKEHOLDERS IN BUYING PROCESS	69
FIGURE 29	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF MACHINE SAFETY SYSTEMS, BY INDUSTRY	69
TABLE 5	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS OF MACHINE SAFETY SYSTEMS, BY INDUSTRY (%)	70
5.10.2	BUYING CRITERIA	70
FIGURE 30	BUYING CRITERIA FOR MACHINE SAFETY SYSTEMS, BY INDUSTRY	70
TABLE 6	BUYING CRITERIA FOR MACHINE SAFETY SYSTEMS, BY INDUSTRY	70
5.11	TRADE ANALYSIS	71
FIGURE 31	IMPORT DATA FOR HS CODE 8536, BY COUNTRY, 2018–2022 (USD MILLION)	71
FIGURE 32	EXPORT DATA FOR HS CODE 8536, BY COUNTRY, 2018–2022 (USD MILLION)	72
5.12	PATENT ANALYSIS	72
FIGURE 33	TOP PATENT APPLICANTS, 2014–2023	72
FIGURE 34	NUMBER OF PATENTS PUBLISHED, 2014–2023	73
TABLE 7	TOP PATENT OWNERS, 2014–2023	73
TABLE 8	PATENT ANALYSIS	74
5.13	KEY CONFERENCES AND EVENTS, 2024–2025	76
TABLE 9	KEY CONFERENCES AND EVENTS, 2024–2025	76
5.14	STANDARDS RELATED TO MACHINE SAFETY	77
5.14.1	IEC 61508	77
5.14.2	IEC 61511	77
5.14.3	IEC 62061	77
5.15	REGULATORY LANDSCAPE	78
TABLE 10	NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	78
TABLE 11	EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	78
TABLE 12	ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	79
TABLE 13	REST OF THE WORLD: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS	80
6	MACHINE SAFETY MARKET, BY IMPLEMENTATION	81
6.1	INTRODUCTION	81
FIGURE 35	MACHINE SAFETY MARKET, BY IMPLEMENTATION	81
6.2	INDIVIDUAL	81
6.3	EMBEDDED	81
7	MACHINE SAFETY MARKET, BY SALES CHANNEL	82
7.1	INTRODUCTION	82
FIGURE 36	MACHINE SAFETY MARKET, BY SALES CHANNEL	82
7.2	DIRECT	82
7.3	INDIRECT	82
8	MACHINE SAFETY MARKET, BY APPLICATION	83
8.1	INTRODUCTION	83
FIGURE 37	MACHINE SAFETY MARKET, BY APPLICATION	83
8.2	ASSEMBLY	83
8.3	ROBOTICS	84
8.4	PACKAGING	84
8.5	MATERIAL HANDLING	84
8.6	METALWORKING	85
8.7	WELDING & SHIELDING	85
9	MACHINE SAFETY MARKET, BY OFFERING	86
9.1	INTRODUCTION	87
FIGURE 38	MACHINE SAFETY MARKET, BY OFFERING	87
FIGURE 39	SYSTEMS TO DOMINATE MARKET DURING FORECAST PERIOD	87
TABLE 14	MACHINE SAFETY MARKET, BY OFFERING, 2020–2023 (USD MILLION)	87
TABLE 15	MACHINE SAFETY MARKET, BY OFFERING, 2024–2029 (USD MILLION)	88
9.2	SYSTEMS	88
9.2.1	COMPLIANCE WITH STRINGENT SAFETY STANDARDS TO DRIVE GROWTH	88
9.3	SENSORS	88
9.3.1	ADVANCEMENTS IN TECHNOLOGY TO DRIVE GROWTH	88
10	MACHINE SAFETY MARKET, BY COMPONENT	89
10.1	INTRODUCTION	90
FIGURE 40	MACHINE SAFETY MARKET, BY COMPONENT	90
FIGURE 41	PRESENCE DETECTION SENSORS TO DOMINATE MARKET DURING FORECAST PERIOD	91
TABLE 16	MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)	91
TABLE 17	MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)	91
TABLE 18	MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (THOUSAND UNITS)	92
TABLE 19	MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (THOUSAND UNITS)	92
10.2	PRESENCE DETECTION SENSORS	92
10.2.1	ADVENT OF INDUSTRY 4.0 AND INDUSTRIAL INTERNET OF THINGS TO DRIVE GROWTH	92
TABLE 20	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	93
TABLE 21	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	93
TABLE 22	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	94
TABLE 23	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	94
TABLE 24	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	94
TABLE 25	PRESENCE DETECTION SENSORS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	95
10.2.1.1	Safety edges	95
10.2.1.2	Laser scanners	95
10.2.1.3	Safety light curtains	95
10.2.1.3.1	Light-emitting diodes (LEDs)	96
10.2.1.3.2	Photoelectric cells	96
10.2.1.3.3	Control units	96
10.2.1.3.4	Displays	96
10.2.1.3.5	Enclosures	97
10.2.1.4	Safety mats	97
10.2.1.5	Other devices	97
10.3	PROGRAMMABLE SAFETY SYSTEMS	97
10.3.1	RISING ADOPTION OF PROGRAMMABLE LOGIC CONTROLLERS TO DRIVE GROWTH	97
TABLE 26	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	98
TABLE 27	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	98
TABLE 28	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	98
TABLE 29	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	99
TABLE 30	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	99
TABLE 31	PROGRAMMABLE SAFETY SYSTEMS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	99
10.4	SAFETY CONTROLLERS/MODULES/RELAYS	100
10.4.1	EXPANDING PRODUCT PORTFOLIO OF MANUFACTURING COMPANIES TO DRIVE GROWTH	100
TABLE 32	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	100
TABLE 33	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	100
TABLE 34	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	101
TABLE 35	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	101
TABLE 36	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	101
TABLE 37	SAFETY CONTROLLERS/MODULES/RELAYS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	102
10.5	SAFETY INTERLOCK SWITCHES	102
10.5.1	GOVERNMENT INTERVENTION FOR EQUIPMENT AND PERSONNEL SAFETY TO DRIVE GROWTH	102
10.5.1.1	Electromechanical switches	102
10.5.1.2	Hinge pin switches	102
10.5.1.3	Limit switches	103
10.5.1.4	Non-contact interlock switches	103
10.5.1.5	Tongue interlock switches	103
10.5.1.6	Trapped key interlock switches	103
TABLE 38	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	103
TABLE 39	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	104
TABLE 40	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	104
TABLE 41	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	104
TABLE 42	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	105
TABLE 43	SAFETY INTERLOCK SWITCHES: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	105
10.6	EMERGENCY STOP CONTROLS	105
10.6.1	NEED TO PREVENT POTENTIAL HAZARDS IN INDUSTRIAL SETTINGS TO DRIVE GROWTH	105
TABLE 44	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	106
TABLE 45	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	106
TABLE 46	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	106
TABLE 47	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	107
TABLE 48	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	107
TABLE 49	EMERGENCY STOP CONTROLS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	107
10.6.1.1	Push buttons	107
10.6.1.2	Rope pull buttons	108
10.7	TWO-HAND SAFETY CONTROLS	108
10.7.1	EMPHASIS ON WORKPLACE SAFETY TO DRIVE GROWTH	108
TABLE 50	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	108
TABLE 51	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	109
TABLE 52	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	109
TABLE 53	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	109
TABLE 54	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	110
TABLE 55	TWO-HAND SAFETY CONTROLS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	110
11	MACHINE SAFETY MARKET, BY INDUSTRY	111
11.1	INTRODUCTION	112
FIGURE 42	MACHINE SAFETY MARKET, BY INDUSTRY	112
FIGURE 43	PROCESS INDUSTRIES TO DOMINATE MARKET DURING FORECAST PERIOD	112
TABLE 56	MACHINE SAFETY MARKET, BY INDUSTRY, 2020–2023 (USD MILLION)	113
TABLE 57	MACHINE SAFETY MARKET, BY INDUSTRY, 2024–2029 (USD MILLION)	113
11.2	PROCESS INDUSTRIES	113
TABLE 58	PROCESS INDUSTRIES: MACHINE SAFETY MARKET, BY TYPE, 2020–2023 (USD MILLION)	113
TABLE 59	PROCESS INDUSTRIES: MACHINE SAFETY MARKET, BY TYPE, 2024–2029 (USD MILLION)	114
11.2.1	CHEMICAL	114
11.2.1.1	Focus on improving operational efficiency to drive growth	114
TABLE 60	CHEMICAL: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	115
TABLE 61	CHEMICAL: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	115
11.2.2	FOOD & BEVERAGE	115
11.2.2.1	Automation in food processing plants to drive growth	115
TABLE 62	FOOD & BEVERAGE: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	116
TABLE 63	FOOD & BEVERAGE: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	116
11.2.3	METAL & MINING	116
11.2.3.1	Installation of machine safety systems for prevention of gas leakage to drive growth	116
TABLE 64	METAL & MINING: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	117
TABLE 65	METAL & MINING: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	117
11.2.4	OIL & GAS	117
11.2.4.1	Stringent safety regulations and standards to drive growth	117
TABLE 66	OIL & GAS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	118
TABLE 67	OIL & GAS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	118
11.2.5	PHARMACEUTICAL	118
11.2.5.1	Deployment of machine safety solutions to enhance productivity to drive growth	118
TABLE 68	PHARMACEUTICAL: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	119
TABLE 69	PHARMACEUTICAL: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	119
11.2.6	POWER GENERATION	119
11.2.6.1	Improved awareness about safety to drive growth	119
TABLE 70	POWER GENERATION: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	120
TABLE 71	POWER GENERATION: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	120
11.2.7	OTHER PROCESS INDUSTRIES	120
TABLE 72	OTHER PROCESS INDUSTRIES: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	121
TABLE 73	OTHER PROCESS INDUSTRIES: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	121
11.3	DISCRETE INDUSTRIES	121
TABLE 74	DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY TYPE, 2020–2023 (USD MILLION)	121
TABLE 75	DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY TYPE, 2024–2029 (USD MILLION)	122
11.3.1	AEROSPACE	122
11.3.1.1	Innovations in aerospace manufacturing plants to drive growth	122
TABLE 76	AEROSPACE: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	122
TABLE 77	AEROSPACE: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	123
11.3.2	AUTOMOTIVE	123
11.3.2.1	Rising use of machine safety systems in automobiles to drive growth	123
TABLE 78	AUTOMOTIVE: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	123
TABLE 79	AUTOMOTIVE: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	124
11.3.3	SEMICONDUCTOR & ELECTRONICS	124
11.3.3.1	Need for high precision in manufacturing to drive growth	124
TABLE 80	SEMICONDUCTOR & ELECTRONICS: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	124
TABLE 81	SEMICONDUCTOR & ELECTRONICS: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	125
11.3.4	OTHER DISCRETE INDUSTRIES	125
TABLE 82	OTHER DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	125
TABLE 83	OTHER DISCRETE INDUSTRIES: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	126
12	MACHINE SAFETY MARKET, BY REGION	127
12.1	INTRODUCTION	128
FIGURE 44	MACHINE SAFETY MARKET, BY REGION	128
FIGURE 45	EUROPE TO DOMINATE MARKET FOR MACHINE SAFETY DURING FORECAST PERIOD	129
TABLE 84	MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	129
TABLE 85	MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	129
12.2	NORTH AMERICA	130
12.2.1	RECESSION IMPACT ANALYSIS	130
FIGURE 46	NORTH AMERICA: MACHINE SAFETY MARKET SNAPSHOT	131
TABLE 86	NORTH AMERICA: MACHINE SAFETY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	131
TABLE 87	NORTH AMERICA: MACHINE SAFETY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	132
TABLE 88	NORTH AMERICA: MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)	132
TABLE 89	NORTH AMERICA: MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)	132
TABLE 90	NORTH AMERICA: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	133
TABLE 91	NORTH AMERICA: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	133
TABLE 92	NORTH AMERICA: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	133
TABLE 93	NORTH AMERICA: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	134
12.2.2	US	134
12.2.2.1	Rise in installation of safety-related systems to drive growth	134
12.2.3	CANADA	134
12.2.3.1	Enforcement of stringent government regulations for workplace safety to drive growth	134
12.2.4	MEXICO	135
12.2.4.1	Advancements in machine safety technologies to drive growth	135
12.3	EUROPE	135
12.3.1	RECESSION IMPACT ANALYSIS	135
FIGURE 47	EUROPE: MACHINE SAFETY MARKET SNAPSHOT	136
TABLE 94	EUROPE: MACHINE SAFETY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	136
TABLE 95	EUROPE: MACHINE SAFETY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	137
TABLE 96	EUROPE: MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)	137
TABLE 97	EUROPE: MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)	137
TABLE 98	EUROPE: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	138
TABLE 99	EUROPE: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	138
TABLE 100	EUROPE: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	138
TABLE 101	EUROPE: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	139
12.3.2	UK	139
12.3.2.1	Robust legal framework for workplace safety to drive growth	139
12.3.3	GERMANY	139
12.3.3.1	Automation in manufacturing processes to drive growth	139
12.3.4	FRANCE	140
12.3.4.1	Implementation of occupational health and safety policies to drive growth	140
12.3.5	REST OF EUROPE	140
12.4	ASIA PACIFIC	140
12.4.1	RECESSION IMPACT ANALYSIS	141
FIGURE 48	ASIA PACIFIC: MACHINE SAFETY MARKET SNAPSHOT	141
TABLE 102	ASIA PACIFIC: MACHINE SAFETY MARKET, BY COUNTRY, 2020–2023 (USD MILLION)	142
TABLE 103	ASIA PACIFIC: MACHINE SAFETY MARKET, BY COUNTRY, 2024–2029 (USD MILLION)	142
TABLE 104	ASIA PACIFIC: MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)	142
TABLE 105	ASIA PACIFIC: MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)	143
TABLE 106	ASIA PACIFIC: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	143
TABLE 107	ASIA PACIFIC: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	143
TABLE 108	ASIA PACIFIC: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	144
TABLE 109	ASIA PACIFIC: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	144
12.4.2	CHINA	144
12.4.2.1	Adoption of advanced manufacturing technologies by domestic manufacturers to drive growth	144
12.4.3	JAPAN	145
12.4.3.1	Expanding process industries to drive growth	145
12.4.4	INDIA	145
12.4.4.1	Power for All and Make in India initiatives to drive growth	145
12.4.5	SOUTH KOREA	145
12.4.5.1	Increasing investments in machine safety solutions to drive growth	145
12.4.6	REST OF ASIA PACIFIC	146
12.5	REST OF THE WORLD	146
12.5.1	RECESSION IMPACT ANALYSIS	146
FIGURE 49	SOUTH AMERICA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD	147
TABLE 110	REST OF THE WORLD: MACHINE SAFETY MARKET, BY REGION, 2020–2023 (USD MILLION)	147
TABLE 111	REST OF THE WORLD: MACHINE SAFETY MARKET, BY REGION, 2024–2029 (USD MILLION)	147
TABLE 112	REST OF THE WORLD: MACHINE SAFETY MARKET, BY COMPONENT, 2020–2023 (USD MILLION)	148
TABLE 113	REST OF THE WORLD: MACHINE SAFETY MARKET, BY COMPONENT, 2024–2029 (USD MILLION)	148
TABLE 114	REST OF THE WORLD: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2020–2023 (USD MILLION)	148
TABLE 115	REST OF THE WORLD: MACHINE SAFETY MARKET, BY PROCESS INDUSTRY, 2024–2029 (USD MILLION)	149
TABLE 116	REST OF THE WORLD: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2020–2023 (USD MILLION)	149
TABLE 117	REST OF THE WORLD: MACHINE SAFETY MARKET, BY DISCRETE INDUSTRY, 2024–2029 (USD MILLION)	149
12.5.2	SOUTH AMERICA	150
12.5.2.1	Increasing inclination of organizations toward workplace safety to drive growth	150
12.5.3	GCC	150
12.5.3.1	Investments in industrialization and infrastructure development to drive growth	150
12.5.4	AFRICA & REST OF MIDDLE EAST	150
13	COMPETITIVE LANDSCAPE	151
13.1	INTRODUCTION	151
13.2	STRATEGIES ADOPTED BY KEY PLAYERS	151
TABLE 118	STRATEGIES ADOPTED BY KEY PLAYERS, 2022–2023	151
13.3	REVENUE ANALYSIS, 2020–2023	154
FIGURE 50	REVENUE ANALYSIS OF KEY PLAYERS, 2020–2023	154
13.4	MARKET SHARE ANALYSIS, 2023	154
TABLE 119	MACHINE SAFETY MARKET: DEGREE OF COMPETITION	155
FIGURE 51	MARKET SHARE ANALYSIS OF KEY PLAYERS, 2023	155
13.5	COMPETITIVE EVALUATION MATRIX, 2023	156
13.5.1	STARS	156
13.5.2	EMERGING LEADERS	156
13.5.3	PERVASIVE PLAYERS	157
13.5.4	PARTICIPANTS	157
FIGURE 52	COMPANY EVALUATION MATRIX, 2023	157
13.5.5	COMPANY FOOTPRINT	158
TABLE 120	COMPONENT FOOTPRINT	158
TABLE 121	INDUSTRY FOOTPRINT	158
TABLE 122	PROCESS INDUSTRY FOOTPRINT	159
TABLE 123	DISCRETE INDUSTRY FOOTPRINT	160
TABLE 124	REGION FOOTPRINT	160
TABLE 125	COMPANY FOOTPRINT	161
13.6	START-UP/SME EVALUATION MATRIX, 2023	162
13.6.1	PROGRESSIVE COMPANIES	162
13.6.2	RESPONSIVE COMPANIES	162
13.6.3	DYNAMIC COMPANIES	162
13.6.4	STARTING BLOCKS	162
FIGURE 53	START-UP/SME EVALUATION MATRIX, 2023	163
13.6.5	COMPETITIVE BENCHMARKING	164
TABLE 126	KEY START-UPS/SMES	164
TABLE 127	COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES	165
13.7	COMPETITIVE SCENARIO	166
13.7.1	PRODUCT LAUNCHES/DEVELOPMENTS	166
TABLE 128	MACHINE SAFETY MARKET: PRODUCT LAUNCHES/DEVELOPMENTS, 2022–2023	166
13.7.2	DEALS	168
TABLE 129	MACHINE SAFETY MARKET: DEALS, 2022–2023	168
13.7.3	OTHERS	169
TABLE 130	MACHINE SAFETY MARKET: OTHERS, 2022–2023	169
14	COMPANY PROFILES	170
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
14.1	KEY PLAYERS	170
14.1.1	SCHNEIDER ELECTRIC	170
TABLE 131	SCHNEIDER ELECTRIC: COMPANY OVERVIEW	170
FIGURE 54	SCHNEIDER ELECTRIC: COMPANY SNAPSHOT	171
TABLE 132	SCHNEIDER ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED	171
TABLE 133	SCHNEIDER ELECTRIC: PRODUCT LAUNCHES/DEVELOPMENTS	172
TABLE 134	SCHNEIDER ELECTRIC: DEALS	172
14.1.2	HONEYWELL INTERNATIONAL INC.	174
TABLE 135	HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW	174
FIGURE 55	HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT	175
TABLE 136	HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	175
TABLE 137	HONEYWELL INTERNATIONAL INC.: DEALS	176
14.1.3	ABB	178
TABLE 138	ABB: COMPANY OVERVIEW	178
FIGURE 56	ABB: COMPANY SNAPSHOT	179
TABLE 139	ABB: PRODUCTS/SOLUTIONS/SERVICES OFFERED	179
TABLE 140	ABB: DEALS	180
14.1.4	ROCKWELL AUTOMATION, INC.	181
TABLE 141	ROCKWELL AUTOMATION, INC.: COMPANY OVERVIEW	181
FIGURE 57	ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT	182
TABLE 142	ROCKWELL AUTOMATION, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	182
TABLE 143	ROCKWELL AUTOMATION, INC.: PRODUCT LAUNCHES/DEVELOPMENTS	183
14.1.5	SIEMENS	185
TABLE 144	SIEMENS: COMPANY OVERVIEW	185
FIGURE 58	SIEMENS: COMPANY SNAPSHOT	186
TABLE 145	SIEMENS: PRODUCTS/SOLUTIONS/SERVICES OFFERED	186
TABLE 146	SIEMENS: PRODUCT LAUNCHES/DEVELOPMENTS	187
TABLE 147	SIEMENS: OTHERS	187
14.1.6	OMRON CORPORATION	189
TABLE 148	OMRON CORPORATION: COMPANY OVERVIEW	189
FIGURE 59	OMRON CORPORATION: COMPANY SNAPSHOT	190
TABLE 149	OMRON CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	190
TABLE 150	OMRON CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS	191
TABLE 151	OMRON CORPORATION: DEALS	191
14.1.7	KEYENCE CORPORATION	192
TABLE 152	KEYENCE CORPORATION: COMPANY OVERVIEW	192
FIGURE 60	KEYENCE CORPORATION: COMPANY SNAPSHOT	192
TABLE 153	KEYENCE CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	193
TABLE 154	KEYENCE CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS	193
14.1.8	YOKOGAWA ELECTRIC CORPORATION	194
TABLE 155	YOKOGAWA ELECTRIC CORPORATION: COMPANY OVERVIEW	194
FIGURE 61	YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT	195
TABLE 156	YOKOGAWA ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	195
TABLE 157	YOKOGAWA ELECTRIC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS	196
TABLE 158	YOKOGAWA ELECTRIC CORPORATION: OTHERS	196
14.1.9	EMERSON ELECTRIC CO.	197
TABLE 159	EMERSON ELECTRIC CO.: COMPANY OVERVIEW	197
FIGURE 62	EMERSON ELECTRIC CO.: COMPANY SNAPSHOT	198
TABLE 160	EMERSON ELECTRIC CO.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	198
TABLE 161	EMERSON ELECTRIC CO.: PRODUCT LAUNCHES/DEVELOPMENTS	199
TABLE 162	EMERSON ELECTRIC CO.: DEALS	199
14.1.10	GENERAL ELECTRIC	200
TABLE 163	GENERAL ELECTRIC: COMPANY OVERVIEW	200
FIGURE 63	GENERAL ELECTRIC: COMPANY SNAPSHOT	201
TABLE 164	GENERAL ELECTRIC: PRODUCTS/SOLUTIONS/SERVICES OFFERED	201
14.1.11	MITSUBISHI ELECTRIC CORPORATION	202
TABLE 165	MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW	202
FIGURE 64	MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT	203
TABLE 166	MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	204
14.1.12	SICK AG	205
TABLE 167	SICK AG: COMPANY OVERVIEW	205
FIGURE 65	SICK AG: COMPANY SNAPSHOT	206
TABLE 168	SICK AG: PRODUCTS/SOLUTIONS/SERVICES OFFERED	207
TABLE 169	SICK AG: PRODUCT LAUNCHES/DEVELOPMENTS	207
TABLE 170	SICK AG: DEALS	208
14.1.13	HIMA	209
TABLE 171	HIMA: COMPANY OVERVIEW	209
TABLE 172	HIMA: PRODUCTS/SOLUTIONS/SERVICES OFFERED	209
14.1.14	IDEC CORPORATION	210
TABLE 173	IDEC CORPORATION: COMPANY OVERVIEW	210
FIGURE 66	IDEC CORPORATION: COMPANY SNAPSHOT	211
TABLE 174	IDEC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	211
TABLE 175	IDEC CORPORATION: PRODUCT LAUNCHES/DEVELOPMENTS	212
14.2	OTHER MAJOR PLAYERS	213
14.2.1	BALLUFF GMBH	213
14.2.2	BANNER ENGINEERING CORP.	214
14.2.3	BAUMER	215
14.2.4	PILZ GMBH & CO. KG	215
14.2.5	PEPPERL+FUCHS SE	216
14.3	SMALL AND MEDIUM-SIZED ENTERPRISES	216
14.3.1	EUCHNER GMBH + CO. KG	216
14.3.2	DATALOGIC S.P.A.	217
14.3.3	LEUZE ELECTRONIC PVT. LTD.	218
14.3.4	FORTRESS INTERLOCKS	218
14.3.5	K.A. SCHMERSAL GMBH & CO. KG	219
14.3.6	ROCKFORD SYSTEMS	220
14.3.7	STEUTE TECHNOLOGIES GMBH & CO. KG	221
14.3.8	KSA CARLO GAVAZZI CO. LTD.	221
14.3.9	MURRELEKTRONIK GMBH	222
14.3.10	EAO AG	222
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
15	ADJACENT MARKETS	223
15.1	INTRODUCTION	223
15.2	STUDY LIMITATIONS	223
15.3	HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING	223
15.3.1	INTRODUCTION	223
TABLE 176	HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING, 2018–2021 (USD MILLION)	224
TABLE 177	HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY OFFERING, 2022–2027 (USD MILLION)	224
15.3.2	COMPONENTS	224
TABLE 178	COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)	225
TABLE 179	COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)	225
TABLE 180	COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)	225
TABLE 181	COMPONENTS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)	226
15.3.2.1	Filed initiators	226
15.3.2.2	Logic solvers	226
TABLE 182	LOGIC SOLVERS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)	227
TABLE 183	LOGIC SOLVERS: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)	227
15.3.2.2.1	Solid-state logic solvers	227
15.3.2.2.2	Others	227
15.3.2.3	Valves	227
15.3.2.4	Actuators	228
15.3.2.5	Other components	228
15.3.3	SERVICES	228
TABLE 184	SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2018–2021 (USD MILLION)	228
TABLE 185	SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY TYPE, 2022–2027 (USD MILLION)	229
TABLE 186	SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)	229
TABLE 187	SERVICES: HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)	229
15.3.3.1	Testing, inspection, and certification (TIC)	229
15.3.3.2	Maintenance	230
15.3.3.3	Training and consultation	230
16	APPENDIX	231
16.1	KEY INSIGHTS FROM INDUSTRY EXPERTS	231
16.2	DISCUSSION GUIDE	231
16.3	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	235
16.4	CUSTOMIZATION OPTIONS	237
16.5	RELATED REPORTS	237
16.6	AUTHOR DETAILS	238
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