Safety Relay Market by Type (Single-Function Safety Relays and Modular & Configurable Safety Relays), Contact (Normally Closed, Time Open (NCTO), Normally Closed, Time Closed (NCTC), Normally Open, Time Open (NOTO), Normally Open, Time Closed (NOTC)) and End User (Automotive, Energy & Power, Manufacturing, Pharmaceutical, Construction, Semiconductors, and Oil & Gas): Global Opportunity Analysis and Industry Forecast, 2019–2026
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Jul 2020 |
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Safety relay are devices which are used to protect the machinery or plant. In case of hazard, a safety relay operates to protect the system and reduce the risk to acceptable level. When an error occurs, a safe and reliable response is initiated by safety relay. Integration of safety relays in a network, total monitoring of a machine or plant is achieved. Safety relay is a simple and efficient manner to meet the safety standards, resulting in safe operation for equipment as well as long service life. Risk reduction is the priority of all business in terms of both employee safety and reduce the possibility of costly accidents or equipment replacement. Therefore, the use of safety relays in companies and industries for safety is uplifting safety relay market.
Safety relays can simply be operated and have a clear architecture which does not require skill and training to operate, other than basic electrical knowledge. The industries thus prefer to use safety relays to maintain a safe environment. Further, the market of safety relay has grown due to the compact design, high reliability, and most significantly the fact that they meet all the required safety standards. Therefore, making them integral part of the safety system of the industries with new machines and plants for which safety is necessary. Thus, making them use for every environment possible has boomed the safety relay market growth.
The safety relay is commonly used in light curtains, safety mats, three position devices, two hand control devices, magnetic switches, and emergency stop buttons. Safety relays are cost efficient and economical in terms of maintenance. They do not require any software to operate saving further investments. However, the use of safety relays also uses too many wires which makes it a difficult process to rectify on occurrence of any failure of the relay network. Therefore, it requires entire wire network to get changed. They are used in various industry verticals like automotive, energy & power, manufacturing, pharmaceutical, construction, semiconductors, oil & gas and other.
North America and Europe have strict protocols and certifications for safe work environment. The use of safety relay as an integrated part of the device network due to its flexible modular structure has influenced the safety relay market. Further, the easy structure and no training for operating safety relays boosts the growth. However, the complexity of standards of safety relay restraint the market growth. The future market of the safety relay has a wide application in the development of the smart cities for functional safety of system. This assists in providing lucrative opportunities for safety relay market globally.
The safety relay market can be segmented by type, contact, end user, and region. Based on type, it is divided into single-function safety relays and modular & configurable safety relays. Based on contact, it is classified into Normally Closed, Time Open (NCTO), Normally Closed, Time Closed (NCTC), Normally Open, Time Open (NOTO), Normally Open, and Time Closed (NOTC). Based on end user, is categorized into automotive, energy & power, manufacturing, pharmaceutical, construction, semiconductors and oil & gas. Based on region it is studied across North America, Europe, Asia-Pacific, and LAMEA.
The key players covered in the safety relay industry are Rockwell Automation, OMRON Industrial Automation, SICK, Pilz, Eaton, Siemens, ABB, Macromatic, DARE Electronics, Inc. IDEC, and TE Connectivity.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the global safety relay market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market size is quantitatively analyzed from 2018 to 2025 to benchmark the financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the market.
KEY MARKET SEGMENTS
BY TYPES
- SINGLE-FUNCTION SAFETY RELAYS
- MODULAR & CONFIGURABLE SAFETY RELAYS
BY CONTACT
- Normally Closed, Time Open (NCTO)
- Normally Closed, Time Closed (NCTC)
- Normally Open, Time Open (NOTO)
- Normally Open, Time Closed (NOTC)
BY END USE
- Automotive
- Energy & Power
- Manufacturing
- Pharmaceutical
- Construction
- Semiconductors
- Oil & Gas
BY REGION
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
KEY MARKET PLAYERS PROFILED
- Rockwell Automation
- ABB Group
- Schneider Electric
- Siemens AG
- Mitsubishi Electric
- Eaton Corporation
- Allis Electric
- Larsen & Toubro Limited
- Pima Controls
- Togami Electric
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