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Asia-Pacific to lead machine safety expansion

A Venture Development product story
Edited by the Engineeringtalk editorial team Jun 19, 2008

The worldwide market for machine automatic safeguarding products is forecast to reach US $2504.3 million in 2012, increasing at a compound annual growth rate of 8.7%.

A new market study by Venture Development Corporation (VDC), covering 27 types of machine automatic safeguarding products, finds the worldwide 2007 market for these devices to have been US $1647.1 million.

Product categories covered in the study were: emergency-stop controls (two types); presence-sensing safety sensors (five technologies); programmable safety systems (safety PLCs) - both stand-alone and integrated with machine controllers; safety controllers/modules/relays (six types); safety interlock switches (10 types); and two-hand safety controls (two types).

The worldwide market for these products is forecast to reach US $2504.3 million in 2012, increasing at a compound annual growth rate (CAGR) of 8.7%.

Via the implementation of these products users gain cost savings in operations through more efficient operation of high-speed and powerful machinery and equipment without fear of personal injury or equipment damage.

Nonetheless, many factors will determine the rate of shipment growth for these products.

Automation innovations are bringing about needs for newer equipment and machinery, including safeguarding methods and equipment for these.

Often these innovations are driven by the need for higher productivity at lower cost as well as the need for new equipment or machinery for new products.

Other factors include: changing machine safeguarding safety standards, regulations and enforcement, and the pace of these changes; concerns over lawsuits from noncompliance and injuries or death, and changing company safety policies; increasing levels of understanding and acceptance of machine automatic safeguarding technologies in various regions and countries; and growth expectations in the various worldwide economies, and likely growth in levels of capital investment in manufacturing.

By far the highest overall growth rate is forecast for shipments to Asia-Pacific markets.

The most significant reason for this forecast is the rapidly increasing manufacturing operations in Asia-Pacific countries with emerging economies, particularly China.

Manufacturing businesses in these countries are being formed and expanded.

In addition, manufacturers in other regions are moving operations to these countries with low labour costs.

Part of the increases in capital investment by these firms will be the need for machine automatic safeguarding products.

In addition, governments in the Asia-Pacific region are becoming more concerned about worker safety, with stricter enforcement of standards/regulations.

Also expanding the market are global firms opening manufacturing operations in the region who will tend to implement the same type of machine automatic safeguarding they use elsewhere.

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