Europe Safety Switches Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.70 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Safety Switches Market Analysis
The use of safety switches In this region is increasing in various industries such as oil and gas, energy and electricity, chemical, pharmaceutical, food processing, metallurgy, and mining. Various trade fairs and exhibitions have also helped safety switch companies expand their customer base and significantly contribute to the growth of the safety switch market.
- Increasing use of safety switches in industries such as food and beverage, mining, and automotive are driving the market growth. Sales of these switches are also increasing with the introduction of energy-efficient and environmentally friendly systems.
- In addition, governments in this region and across the globe are implementing safety standards that have a positive impact on the market as well, and many organizations use safety switches in the workplace to prevent work-related hazards, protect employees, and meet necessary corporate safety standards.
- The development of new industrial infrastructure, including power plants for stable and safe operation, is expected to drive market growth. Increasing investment in renewable energy and government-friendly regulations supporting new technologies is expected to boost the industry.
- Europe currently plans to increase the capacity of offshore wind turbines by 25 times by 2050. According to the European Commission, the 'Offshore Renewable Energy Strategy' shares plans to achieve 40 GW of offshore energy such as wave and tidal power in the same period.
- Due to the sudden outbreak of the COVID-19 pandemic, strict quarantine rules have been implemented in several countries, halting the import and export of safety switches. The fall in electricity demand and focus on higher renewable production has driven non-renewable generation down in the European Union. The share of various renewable energy sources in the electricity mix in several EU countries, especially Spain, Italy, and Germany, set records during the lockdown period. The share of renewables remained high as lockdown measures were softened.
Europe Safety Switches Market Trends
This section covers the major market trends shaping the Europe Safety Switches Market according to our research experts:
Safety Switches for Industrial Application to Show Significant Growth in this Region
The use of safety switches is increasing significantly in industrial applications such as oil and gas, manufacturing, material handling, and power generation. As with single machines, different types of safety switches are commonly used, such as emergency stop switches or safety limit switches.
- The demand for a safer working environment is driving the safety switch market. In hazardous areas of industries such as elevators, offshore drilling, petrochemical and wastewater treatment plants, spray booths, and hazardous waste treatment facilities, these safety switches play a key role in safe and efficient operation.
- For smart buildings, improved quality of smart and physically structural safety switches are driving the demand for buildings, which will have a positive impact on the demand for smart and safety switches and systems over the forecast period, and most of the countries are adopting these smart switches for better protection and efficiency.
- New technologies such as industrial wireless communications for the Industrial Internet of Things (IIoT) promise lower deployment costs, greater connectivity, improved operational efficiency, and improved operational analytics that require efficient switching solutions. The major countries such as the United Kingdom, Germany, France, and more also participate in im[ort and export of the electronics components across the globe, increasing the market growth locally and internationally.
- The European Agency for Safety and Health at Work conducts campaigns to create awareness and provide information on the policies and prevent risk at small and medium-sized enterprises by designing and facilitating to assess the workplace risks and share knowledge.
Emergency Stop Switches to have high demand
An emergency stop switch also called an emergency stop switch, is a form of fail-safe control. E-stop switches shut down the associated equipment and isolate any potential hazards outside the equipment's main power cabinet.
- The purpose of an E-stop switch is to avert or reduce rising and existing hazards to persons, work, or machinery caused by the undesired activity of a machine or electrical system. E-stops are integrated into the circuit of a mechanical or electrical system, where the circuit cuts and disconnects the power supply to the machine. This makes the machine physically unavailable until the switch is reset and the system goes through the restart procedure.
- According to European Union's Machinery, an emergency stop functions as a safety measure to safeguard against human error or technical failure, and it must be capable of rough handling and must be regulated with industrial standards. DIN EN ISO 13850 on the safety of machinery describes the fundamental requirements of emergency stop functions and the design of the actuators, and DIN EN 60204 addresses the electrical equipment of machinery and defines the "stop categories"."In Europe, machinery and equipment covered by the Machinery Directive (2006 /42/ EC) must be equipped with at least one certified E-Stop with a proven ability to prevent an imminent or occurring hazard. Emergency Stop Switches come in two categories that are modular switches with a separate actuator and single-piece E stop with a built-in contact block.
Europe Safety Switches Industry Overview
Europe Safety Switches Market is fragmented with key players such as Rockwell Automation, Idem Safety Switches Limited, Euchner, ABB Ltd., and Eaton; these companies are investing in research and development and driving the market to make a strong position in the industry.
- Feb 2021 - Idem Safety Switches released a new product, New IP69K Emergency Stop, designed for strict washdown environments. The body is constructed using 316-grade stainless steel with a mirror-polished finish. The curved design reduces the likelihood of contaminating the building up. Should for any reason the button get damaged and fall into the supply chain, the material is X-Ray detectable.
- July 2021 - Eaton announced the global launch of the 9PX lithium-ion uninterruptible power supply (UPS). Building on its leadership in delivering innovative lithium-ion battery capabilities in backup power solutions, Eaton's new UPS provides longer battery life and a smaller footprint than valve-regulated lead-acid (VRLA) battery-powered UPS technology, making it ideal for distributed, 'edge' environments and light industrial applications ranging from healthcare to education.
- July 2021 - Rockwell Automation, Inc. announced a partnership with Kezzler AS, cloud-based product digitization and traceability platform, to help manufacturers capture the journey of their products from raw material sources to point-of-sale or beyond using cloud-based supply chain solutions that focus on product traceability.
Europe Safety Switches Market Leaders
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Rockwell Automation
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Idem Safety Switches
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ABB Ltd.
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EUCHNER GmbH
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Eaton
*Disclaimer: Major Players sorted in no particular order
Europe Safety Switches Market News
- Feb 2021 - Idem Safety released a new product, and The Z-Range has been designed to maintain SIL3, PLe, even when connected in series. This new technology has been augmented into IDEM's existing mechanical products for an 'all in one, machine guarding solution that does not compromise on safety.
- June 2021- Rockwell Automation expands industrial cloud software offering by acquiring Plex Systems; this acquisition speeds up the company'ss strategy to bring the Connected Enterprise to life and increase the adoption of cloud solutions to improve the agility and sustainabiliRockwell'swell's operations.
Europe Safety Switches Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Awareness of Environmental Issues and Adoption of New Regulatory Standards
- 4.2.2 Surging Number of Chronic Disease Cases in India
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4.3 Market Restraints
- 4.3.1 Fluctuations in Raw Material Cost Due to Suppliers Bargaining Power
- 4.4 Value Chain / Supply Chain Analysis
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4.5 Porter's Five Force Analysis
- 4.5.1 Threat of New Entrants
- 4.5.2 Bargaining Power of Buyers
- 4.5.3 Bargaining Power of Suppliers
- 4.5.4 Threat of Substitute Products
- 4.5.5 Intensity of Competitive Rivalry
- 4.6 Assessment of COVID-19 Impact on the Industry
5. MARKET SEGMENTATION
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5.1 Type
- 5.1.1 Safety Limit Switches
- 5.1.2 Emergency Stop Switches
- 5.1.3 Safety Interlock Switches
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5.2 End-User
- 5.2.1 Automobile
- 5.2.2 Industrial
- 5.2.3 Energy and Power
- 5.2.4 Chemical
- 5.2.5 Pharmaceutical
- 5.2.6 Oil and Gas
- 5.2.7 Food and Beverages
- 5.2.8 Semiconductors
- 5.2.9 Others
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Rockwell Automation
- 6.1.2 Idem Safety Switches
- 6.1.3 Euchner GmBH
- 6.1.4 Eaton
- 6.1.5 E.Dold & Sohne GmBH & Co.
- 6.1.6 OMRON Industrial Automation
- 6.1.7 Sick Sensor Intelligence
- 6.1.8 Pilz GmBH & Co. KG
- 6.1.9 Schneider Electric
- 6.1.10 Banner Engineering
- *List Not Exhaustive
7. Investment Analysis
8. Future of the Market
Europe Safety Switches Industry Segmentation
A safety switch is a device that shuts off the power immediately when an electrical failure is detected. This reduces the risk of electric shock, electric shock, injury, and death through automatic power outages. The different types of switches are Safety Limit Switches, Emergency Stop Switches, and Safety Interlock Switches. In the study, technological aspects along with market trends have been analyzed along with its end-user segment in various industries.
Europe Safety Switches Market Research FAQs
What is the current Europe Safety Switches Market size?
The Europe Safety Switches Market is projected to register a CAGR of 6.70% during the forecast period (2024-2029)
Who are the key players in Europe Safety Switches Market?
Rockwell Automation, Idem Safety Switches, ABB Ltd., EUCHNER GmbH and Eaton are the major companies operating in the Europe Safety Switches Market.
What years does this Europe Safety Switches Market cover?
The report covers the Europe Safety Switches Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Safety Switches Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Safety Switches Industry Report
Statistics for the 2024 Europe Safety Switches market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Europe Safety Switches analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
