DUBLIN--(BUSINESS WIRE)--May 16, 2018--The "Global Safety Switches Market - Segmented by Type (Electromagnetic, Non-Contact), End-user and Region - Growth, Trends and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The global safety switches market is expected to register a CAGR of 8.17%, during the forecast period (2018-2023). The key factors contributing to the growth of the global safety switches market are - flexibility of usage in varied applications, high market demand for safe equipment, miniaturization of devices, and industrial safety standards.

The increasing demand for products from various end-user industries, like food & beverages, oil & gas, pharmaceuticals, aerospace etc. and technological advancements are increasing the demand for manufacturing plants with heavy machinery. The surge in the economies of various emerging countries like Russia, Brazil, China, and India is creating opportunities for setting up of more production facilities and manufacturing plants, thus driving the market for safety switches globally.

On the flipside, price sensitivity, the complexity of new technologies, and lack of adequate pro-activeness from various safety equipment manufacturers regarding product upgrades are challenging the market's growth in the forecast period.

Key Highlights

Increased Emphasis on Workplace Safety Is Driving Market Growth Non-Contact Safety Switches to Witness High Growth Rate

Key Developments in the Market

July 2017 - Rockwell introduced advanced cable-pull E-stop with patented, microprocessor-based technology. This product provides continued access to E-stop function, hence stopping machine risks with simple pull of attached cables

Companies Mentioned

Rockwell Automation General Electric Euchner GmbH ABB Ltd. Banner Engineering Corp. SICK Eaton Corporation Schneider Electric Pilz GmbH & Co. KG OMRON Industrial Automation Bernstein AG

Key Topics Covered

1. Introduction

2. Research Approach and Methodology

3. Executive Summary

4. Market Analysis

5. Market Dynamics

6. Global Safety Switches Segmentation

7. Competitive Intelligence - Company Profiles

8. Investment Analysis

9. Future Outlook of the Market

For more information about this report visit https://www.researchandmarkets.com/research/ngh5dt/safety_switches?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180516006047/en/

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Related Topics:Electrical Switches

KEYWORD:

INDUSTRY KEYWORD: MANUFACTURING ENGINEERING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 05/16/2018 11:45 AM/DISC: 05/16/2018 11:45 AM

http://www.businesswire.com/news/home/20180516006047/en