Emergency Stop Switches Market Technological Improvements Steering Growth during 2018-2028
This factor is expected to proliferate the adoption of emergency stop switches for equipment safety, thereby augmenting the growth of the global emergency stop switches market during the period of forecast.
[UKPRwire, Tue Sep 10 2019] Emergency stop switches are employed in machinery, used as safety mechanism to shut off the equipment in emergency or when it cannot be shut down in usual manner. Stringent government and agencies regulations regarding workplace safety have been the demand driving determinant for emergency stop switches. Growing adoption of safe methods as well as safe equipment in core industrial sectors to avoid any hazardous incidents are likely to influence the development of emergency stop switches market. Growing focus of manufactures to developed emergency stop switches that fit all required industrial safety standards along with improving their reliability and stability at different hazardous location is likely to create growth opportunities for emergency stop switches market.
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Incorporation of advanced and wireless technology in emergency stop switches to provide effective management of industrial equipment will possibly influence progress of the market. Growing government investment in rapidly expanding industrial sector in emerging economies such as China and India is expected to fuel growth of Emergency Stop Switches Market in the Asia Pacific region. Concentration of market players in developed countries of North America and Europe will further shape the future of emergency stop switches market. In addition, industrial revolution across the globe is likely to favor the market growth.
Taking on Capital Intensive Equipment Protection With E-Stop Switches
Emergency stop switches (or E-stop switches) are becoming an essential component in every equipment and production machinery with growing focus on machine safety as well as operator protection. A wide range of electrical equipment are incorporated with specialized switch controls to carry out emergency shutdown with a view to meet workplace safety according to established regulatory requirements. As per international standards for equipment protection, function of emergency stop switches must be initiated by single operator with a manually controlled actuating device. Emergency stop switches, being different from simple stop switches, provide foolproof protection and shutdown of equipment in case of emergencies consequently avoiding additional hazards. Companies have been incorporating emergency stop switches in their plants to assure safety of their equipment, that being capital intensive, in order to avoid machinery and production losses. This factor is expected to proliferate the adoption of emergency stop switches for equipment safety, thereby augmenting the growth of the global emergency stop switches market during the period of forecast.
Application of Internet of Things (IoT) in Emergency Stop Switches Makes Protection Simpler
Manufacturing sector is on the cusp of revolution with introduction of new technologies offering effective management along with plant and machine safety. Technology based on Internet of Things has radically improvised visibility in manufacturing processes to a level where each production step can be monitored. Emergency stop switches are no different, as operators or machine personnel can monitor machine performance and actuate emergency stop switches remotely in case of equipment failure or during other scenarios such as spillage. With emergence of IoT in protection and safety of operators as well as machinery, development of emergency stop switches is evident which can offer potential opportunities for manufacturers to develop advanced emergency stop switches to cater to demand from manufacturing units. Moreover, this trend is supported with growing influence of Industry 4.0 that has taken the manufacturing sector to an altogether new level of automation, wherein personnel are able to operate machines remotely while carrying out other important tasks. This industrial revolution is anticipated to further the growth of the global market for emergency stop switches in the years to follow.
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Emergency Stop Switches go Wireless
Growing incidences of worker fatalities has pushed companies to incorporate advanced personnel and machine safety systems. OSHA (Occupational Safety and Health Organization) reported 5,000 worker fatalities owing to industrial accidents in the United States. With this, key players involved in the manufacturing and development of emergency stop switches are focusing on enhancing the user confidence in their products by introducing novel technologies that in e-stop switches offer convenience and efficiency. With growing proliferation of IoT and trend of Industry 4.0, era of becoming wireless is significantly growing in the industrial space. Emergency stop switches are no exception to this change. Understanding the importance of machinery, products and worker safety, manufacturers have introduced wireless emergency stop switches allowing workers to shut down the machine without making them frantically rush to it. Wireless emergency stop switches haven taken safety of equipment to the next level to speed up response time allowing workers to engage in different tasks. This development has leveraged the use of emergency stop switches thus aiding the growth of the global emergency stop switches market.
For instance, Laird has developed wireless emergency stop switch system SIL 3 a cost effective wireless emergency stop switch that can be easily integrated into the existing hardwired emergency stop switch system. This Safe E-Stop system offers status indicators with help of LCD and LED readouts. Likewise, IDEC has developed the Safe Break Design a revolutionary development in the global emergency stop switches market for its emergency stop switches. Its XW and XA emergency stop switches include this technology with which they can be used in Level 4 safety category applications as they can withstand high stress during an emergency situation. Other key participants in the global emergency stop switches market include Eaton, Schneider Electric, Siemens, Safety Technologies, Honeywell Micro Switch, REES Inc., Securitron, General Electric and REMA Group.
Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.
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