The global safety switch market size will reach USD 1.36 billion in 2020.Looking ahead, IMARC Group expects the market to grow at a CAGR of around 4% between 2021 and 2026, according to a new report by IMARC Group.
A safety switch, also known as a disconnect or load break switch, is a device whose primary function is to disconnect power when an electrical fault is detected.These switches detect changes in current and turn off the power in about 0.3 seconds.Today, safety switches are increasingly used to provide protection against overcurrent, circuit overload, short circuits and thermal damage.
Safety switches minimize power-related risks of fire, electric shock, injury and death.They also protect personnel by providing physical interlocking of guard doors and equipment.Because of these advantages, they are used in many industries, from automotive, food, pulp and paper to robotics and pharmaceuticals.In addition to this, governments are enforcing regulations regarding the safety of equipment and personnel.Therefore, installation of safety switches is mandatory in commercial, industrial and residential verticals in various countries.In addition, the arrival of energy-saving and environmentally friendly systems has also boosted the sales of these switches worldwide.In addition, leading companies are focusing on producing safety switches with the latest technology.For example, the German multinational group Siemens AG has introduced non-metallic and stainless steel switches that are corrosion-resistant and ensure trouble-free operation under the harshest conditions.
Some of the key players include ABB Group, General Electric Company, Rockwell Automation, Schneider Electric SE, Siemens AG, Eaton Corporation, Honeywell International, Inc., Omron Corporation, Pilz GmbH & Co. KG, and Sick AG.
This report segments the market on the basis of product type, application, safety system, switch type, end user, and region.
Burner Management System (BMS) Emergency Shutdown (ESD) System Fire and Gas Monitoring System High Integrity Pressure Protection System (HIPPS) Turbomachinery Control (TMC) System
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