This market research report provides a comprehensive analysis of the global industrial safety integrated components market by product (safety relay, transmitter, safety PLC, and safety switches), by end user (power, automotive, oil and gas, chemical and petrochemical, food and beverage, and others), and by geography (the Americas, APAC, and EMEA). Leading vendors in this market are ABB, Rockwell Automation, Schneider Electric, and Siemens.
Technavio’s market research analysts estimate the global industrial safety integrated components market, to grow at a CAGR of close to 5% between 2016 and 2020. The demand for integrated technology and safety components that can easily interchange information is high to avoid any downtime of the plants and maintain high productivity. This requirement has pushed manufacturers to implement safety relays, safety PLC, safety switches, and transmitters in their facility that can be integrated with other systems such as control systems of the plants. The APAC dominates the global market for safety integrated components, owing to the maximum demand for these components coming from power, oil and gas, electronics, and automotive industries in the region.
The new market research report from Technavio provides a breakdown and analysis of the industrial safety integrated components segments by technology.
“Owing to growing automation among industries, the high-voltage direct current (HDVC) converter technology has become an inevitable source to supply the much-needed power. HDVC technology makes it possible for companies to use energy from multiple sources like wind or hydro to provide a reliable and long-lasting power supply. Electronic switches or valves convert AC to DC and vice versa without any interruption. An increase in HDVC line installation is bound to heighten demand for safety relays, which are a major component of the integrated components market,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research
Safety relays occupy the highest market share of the components market and are expected to account for more than 46% of the overall market share by the end of the forecast period. Safety relays play an important role in the overall automation process as they help to detect faults in electrical circuits and shut equipment down whenever necessary. This is vital for eliminating damage to equipment and personnel. With a rise in the demand for electricity, the need for safety relays is going to stay high for the foreseeable future.
The key vendors in the global industrial safety integrated components market include ABB, Rockwell Automation, Schneider Electric, and Siemens. This market is highly fragmented due to the presence of numerous international, regional, and local players. International vendors are actively increasing their presence in the market, and many local vendors find it difficult to compete on fronts such as quality and range of features. The environment is expected to intensify with innovations and even mergers between companies.
A more detailed analysis is available in the Technavio report, Global Industrial Safety Integrated Components Market 2016-2020.
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