Worldwide machine safeguarding market growing at over 12% annually
Dedham, MA -- Machine safeguarding is the fastest growing segment of the overall discrete manufacturing automation ...
Dedham, MA — Machine safeguarding is the fastest growing segment of the overall discrete manufacturing automation market, according to a new ARC Advisory Group study. The worldwide market for machine safeguarding solutions is expected to grow at a compounded annual growth rate (CAGR) of 12.5% over the next five years. The market was $1.5 billion in 2006 and is forecasted to be over $2.8 billion in 2011.
The overall safeguarding market is growing as a direct result of the continued demand for industrial machinery. Machinery shipments are escalating at an unprecedented rate in virtually every sector of the market. Consequently, the demand side is creating a pull in the market across the entire range of safeguarding product segments.
The challenge to suppliers of machine safeguarding components is that increasingly more control reliable safeguarding components are entering the market. This is pulling some of the growth away from the traditional safety relay module market, according to research director Sal Spada, the principal author of ARCs Machine Safeguarding Solutions Worldwide Outlook.
SAFETY RAISES PRODUCTIVITY
Global manufacturers view safety as a means to offset the decline in the availability of a large skilled labour pool. Strategic safety initiatives have moved to the forefront of critical topics for manufacturers due to an increased awareness of total return on investment.
In addition to ensuring worker safety, manufacturers are learning how an intelligent safety strategy can become a competitive advantage rather than a cost burden. As the availability of control reliable servos, fluid power, and PLCs emerge on the market, safeguarding solutions in these sectors are threatening the traditional safety relay market sector.
CONSULTING SERVICES INCREASINGLY IMPORTANT
Consulting services are increasingly more important in the selling process to assist machine builders in making the right choice for their particular application. In many ways, the machine builder today is faced with the same challenges they face when seeking to create the optimal mechatronic solution for the machine. In many cases, it required a completely new approach to the design of the machine, as the optimal balance between mechanical, electrical, and software became critical to achieving higher productivity and reliability from a machine design.
FAR EAST OFFERS LARGEST OPPORTUNITIES
The highest growth markets for Machine Safeguarding are coming from China, Japan, and India. Japan is experiencing significant growth as the aging population exits the workforce. The Japanese government has mandated that companies with greater than 20 workers must purchase machinery and equipment with safety integrated solutions. China, in contrast, is driven by the major growth in tourism and infrastructure projects. Also, the transfer of production to China by major manufacturers is moving a safety mentality to the region.
For more information on this study, visit www.arcweb.com.