The global safety switches market size reached US$ 1.36 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 4% during 2021-2026, according to a new report by IMARC Group.
Safety switches, also known as disconnect or load break switches, refer to devices whose primary function is to disconnect the source of electricity when an electrical fault is detected. These switches detect the change in the electrical current and turn the power off in about 0.3 seconds. Nowadays, safety switches are increasingly being used to provide protection against overcurrent, circuit overloads, short-circuiting and heat generated damage.
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Market Trends
Safety switches minimize the risk of electricity-related fires, electric shock, injury and death. They also protect personnel by providing physical interlocking of guard doors and equipment. On account of these advantages, they are utilized in numerous industries, ranging from automotive, food and pulp and paper to robotics and pharmaceutical. Apart from this, governments of various nations are implementing regulations for equipment and personnel safety. Due to this, the installation of safety switches has become mandatory in commercial, industrial and residential verticals across various countries. Furthermore, the arrival of energy-efficient and environment-friendly systems have also boosted the sales of these switches worldwide. Moreover, the leading companies are focusing on producing safety switches with the latest technology. For instance, Siemens AG, a German multinational conglomerate, has introduced non-metallic and stainless-steel switches that offer corrosion-resistance to assure trouble-free performance in the most severe conditions.
Competitive Landscape:
Some of the key players being ABB Group, General Electric Company, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Eaton Corporation Inc., Honeywell International Inc., Omron Corporation, Pilz GmbH & Co. KG and Sick AG.
For more information about this report visit: https://www.imarcgroup.com/safety-switches-market
The report has segmented the market on the basis of Product Type, Application, Safety System, Switch Type, End-User and Region.
Breakup by Product Type
Contact Safety Switch
Non-Contact Safety Switch
Breakup by Safety System:
Burner Management Systems (BMS)
Emergency Shutdown (ESD) Systems
Fire and Gas Monitoring Systems
High Integrity Pressure Protection Systems (HIPPS)
Turbomachinery Control (TMC) Systems
Breakup by Switch Type:
Switchboard Safety Switches
Power Point Switches
Portable Safety Switches
Breakup by End-User:
Energy and Power
Oil and Gas
Chemical
Food and Beverage
Metal and Mining
Pharmaceutical
Others
Breakup by Region:
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
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