Safety drives facilitate in reducing the downtime of machines and subsequently enhance the productivity. Further, the application of hybrid safety drive in low, medium, and high voltages equipment have numerous applications in various end-user industries.
Rise in industrial safety standards and demand for safe equipment are expected to drive the growth of the market in the coming years. Moreover, the cost-effectiveness and flexible functionality is also anticipated to fuel the adoption of the market in the coming years. However, stringent regulations associated with energy efficiency is expected to hinder the market growth during the forecast period.
The global safety drives market is segmented on the basis of by type, end-user industry, and geography. By type, the market is divided into AC motors and DC motors. By end-user industry, the market is classified into power generation, manufacturing, chemical, pharmaceutical, food & beverage, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key players profiled in the report include Rockwell Automation, SIGMATEK Safety Systems, ABB Limited, Siemens, Beckhoff, B&R, WEG, CG Global, Hoerbiger, and Pilz.
- The study provides an in-depth analysis of the global safety drives market and current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restrains, and opportunities is provided.
- Porters Five Forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global market from 2016 to 2023 is provided to determine the market potential.
Safety Drives Market Key Segments:
- AC Motors
- DC Motors
By End-User Industry
- Power Generation
- Food & Beverage
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
Key Market Players Profiled In The Report
- Rockwell Automation
- SIGMATEK Safety Systems
- ABB Limited
- CG Global