Market Size of Europe Safety Connection Devices Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Safety Connection Devices Market Analysis
The Europe Safety Connection Devices Market is estimated to grow at a CAGR of 7% during the forecast period, 2021 - 2026. New technology innovations, the growing number of profitable business models, stringent safety requirements are anticipated to fuel the market over the forecast period.
- The safety connection devices ensure that E-stops, safety interlock switches, and cable pull switches, among other things, communicate reliably. Network media, control net, power media, device net are some examples of safety connection devices. These gadgets improve the connection between multiple machines while also boosting personal safety. The safety connection system is intended to make the installation of safety devices as simple as possible.
- Additionally, the increasing consumer expectations and the ever-evolving new technologies like high-speed connectivity solutions to support 5G networks with faster, ultra-high-bandwidth, lower latency signals, miniaturized connectors, and high-density contacts to conserve space and weight to support prevailing cross-market trends towards portability and wearability are propelling the market's growth.
- Moreover, diverse categories of personnel work on automated production equipment, spanning from production workers to engineers. This wide range and increasing automation are necessitating safety connection devices from several end-user industries.
- In contrast, the COVID-19 pandemic has drastically impacted numerous manufacturing and processing industries across the globe. The supply chain of industries like robotics, building technology, electronics, and processing equipment have been disrupted. However, These industries are expected to recover rapidly due to the extensive range of applications they cater to.
- Also, the high production costs coupled with the lack of awareness about technological developments and industrial advances are the possible market constraints.
Europe Safety Connection Devices Industry Segmentation
The Europe Safety Connection Devices Market is Segmented by Type (Cables and Cords, Connectors, Gateways, Adaptors, Relays, T-Couplers, Distribution box), and By End User Application (Automotive, Manufacturing, Healthcare, Energy and Power).
Safety connection devices are complete wiring solutions intended for machine safety. They assist in reducing the maintenance and installation cost, simplify troubleshooting, ease expansion, and provide system modularity while ensuring safety.
| By Type | |
| Cables and Cords | |
| Connectors | |
| Gateways | |
| Adaptors | |
| Relays | |
| T-Couplers | |
| Distribution Box |
| By End-user | |
| Automotive | |
| Manufacturing | |
| Healthcare | |
| Energy and Power | |
| Other End-user Verticals |
| By Country | |
| Germany | |
| United Kingdom | |
| France | |
| Rest of Europe |
Europe Safety Connection Devices Market Size Summary
The Europe Safety Connection Devices Market is poised for significant growth, driven by technological innovations and the increasing demand for automation across various industries. These devices, which include E-stops, safety interlock switches, and cable pull switches, play a crucial role in enhancing machine connectivity and ensuring personal safety. The market is further bolstered by the rising consumer expectations for high-speed connectivity solutions, such as those supporting 5G networks, and the trend towards miniaturization and portability. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains, the market is expected to recover swiftly due to the diverse applications of safety connection devices in sectors like robotics, electronics, and processing equipment. However, high production costs and a lack of awareness about technological advancements remain potential constraints.
The demand for safety connection devices is also fueled by the automotive industry's pivotal role in Europe's economy and its substantial investment in research and development. As automotive manufacturers increasingly adopt robotic machinery and automation, the need for reliable safety connection systems becomes paramount. The market is moderately competitive, with major players like ABB Ltd., Bihl+Wiedemann GmbH, and Rockwell Automation Inc. dominating the landscape. These companies are actively expanding their global presence and enhancing their product offerings through strategic collaborations and technological advancements. Recent developments, such as ABB's partnership with Stäubli Electrical Connectors and Bihl + Wiedemann's launch of a new ASi BACnet/IP controller, highlight the ongoing innovation and focus on meeting industrial safety standards.
Europe Safety Connection Devices Market Size - Table of Contents
-
1. MARKET INSIGHTS
-
1.1 Market Overview
-
1.2 Industry Attractiveness - Porter's Five Forces Analysis
-
1.2.1 Bargaining Power of Suppliers
-
1.2.2 Bargaining Power of Consumers
-
1.2.3 Threat of New Entrants
-
1.2.4 Threat of Substitute Products
-
1.2.5 Intensity of Competitive Rivalry
-
-
1.3 Assessment of the Impact of COVID-19
-
-
2. MARKET SEGMENTATION
-
2.1 By Type
-
2.1.1 Cables and Cords
-
2.1.2 Connectors
-
2.1.3 Gateways
-
2.1.4 Adaptors
-
2.1.5 Relays
-
2.1.6 T-Couplers
-
2.1.7 Distribution Box
-
-
2.2 By End-user
-
2.2.1 Automotive
-
2.2.2 Manufacturing
-
2.2.3 Healthcare
-
2.2.4 Energy and Power
-
2.2.5 Other End-user Verticals
-
-
2.3 By Country
-
2.3.1 Germany
-
2.3.2 United Kingdom
-
2.3.3 France
-
2.3.4 Rest of Europe
-
-
Europe Safety Connection Devices Market Size FAQs
What is the current Europe Safety Connection Devices Market size?
The Europe Safety Connection Devices Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Europe Safety Connection Devices Market?
ABB Ltd., Bihl+Wiedemann GmbH, Siemens AG, Rockwell Automation Inc. and Honeywell International, Inc. are the major companies operating in the Europe Safety Connection Devices Market.
