Market Overview:
The global safety relay market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for safety relays from various end-use industries, such as automotive, energy & power, manufacturing, pharmaceuticals and construction. In addition, the growing awareness about safety among consumers is also contributing to the growth of this market. The global safety relay market can be segmented on the basis of type into single function safety relays and modular and configurable safety relays. The modular and configurable type segment is expected to grow at a higher CAGR during the forecast period owing to its ability to be customized as per specific application requirements. On the basis of application, the global Safety Relay Market can be divided into automotive, energy & power generation plants (utilities), manufacturing sector (process industry), pharmaceuticals sector (biotech/pharma companies) and construction sector (infrastructure projects). Among these applications segments, automotive is expected witness highest growth during 2018-2030 due mainly increase in production volumes across developed countries such as U.S.
Product Definition:
A safety relay is a device used in industrial control systems to protect personnel and equipment from potentially hazardous situations. The purpose of a safety relay is to detect an abnormal condition, such as an overload or short circuit, and take appropriate action to stop the process or shut down the machine.
Single Function Safety Relays:
Single-function safety relays are used in various applications such as fire alarm, life support systems, and medical emergencies. They perform a single safety function and have no other purpose than that. The market for single-function safety relays is expected to grow at a CAGR of XX% from 2016 to 2024.
Modular and Configurable Safety Relays:
Modular and configurable safety relays are used in the safety relay market to provide a wide range of functions. These devices can be easily programmed using an easy-to-use front panel interface, making them highly reliable for use in critical applications such as fire alarm systems. They are available with different configurations and sizes, which makes them suitable for various applications across industries such as oil & gas, power generation, healthcare & life sciences and manufacturing among others.
Application Insights:
The automotive application segment accounted for the largest revenue share in 2016 and is projected to continue leading over the forecast period. The growing demand for safety relays in automobiles is attributed to their increasing use in airbags, seat belts, anti-lock brake systems (ABS), and other components. ABS uses safety relays to control wheel speed which prevents skidding on gravel roads or snow when vehicles are braked hard enough.
Safetyrelay modules with integrated protection functions such as Over Current Protection (OCP) and Under Voltage Protection (UVP) are used extensively across power distribution networks owing to high reliability requirements of industrial machinery & equipment. These modules protect against short circuit formation by limiting electric current through protective relay contacts during a overload situation resulting from internal failure of equipment or wiring faults at either ends of the protected device/circuitry circuit breaker point.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to continue its dominance over the forecast period as well, owing to growing industrial automation and a rising number of high-risk activities in industries such as oil & gas, manufacturing, pharmaceuticals, and construction. Europe accounted for more than 25% of the overall revenue share in 2017 on account of stringent regulations pertaining to employee safety coupled with increasing demand for smart factories from major economies including Germany and France.
Asia Pacific is projected to be one of the fastest-growing regions during the forecast period owing to rapid industrialization along with increasing adoption across emerging countries such as China and India that are witnessing an upsurge in manufacturing facilities being set up due to low labor costs coupled with easy availability of raw materials at economical prices. Moreover, governments’ efforts towards creating smart cities are anticipated favorably impact regional growth over next few years.
Growth Factors:
- Increasing demand for safety relay in the automotive industry
- Growing awareness about the benefits of using safety relay in various industries
- Rising number of industrial accidents and subsequent need for safety relay products
- Technological advancements in the field of safety relays that are making them more efficient and reliable
- Growing demand from developing countries due to increasing industrialization
Scope Of The Report
Report Attributes
Report Details
Report Title
Safety Relay Market Research Report
By Type
Single Function Safety Relays, Modular and Configurable Safety Relays
By Application
Automotive, Energy & Power, Manufacturing, Pharmaceutical, Construction
By Companies
Allen-Bradley, Phoenix, Rockwell Automation, Schneider Electric, Omron, Siemens, Pilz, IDEC, SICK, Eaton, Panasonic, Hongfa, wenglor sensoric GmbH, MITSUBISHI, ABB, Contrinex
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.
Global Safety Relay Market Report Segments:
The global Safety Relay market is segmented on the basis of:
Types
Single Function Safety Relays, Modular and Configurable Safety Relays
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Energy & Power, Manufacturing, Pharmaceutical, Construction
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Allen-Bradley
- Phoenix
- Rockwell Automation
- Schneider Electric
- Omron
- Siemens
- Pilz
- IDEC
- SICK
- Eaton
- Panasonic
- Hongfa
- wenglor sensoric GmbH
- MITSUBISHI
- ABB
- Contrinex
Highlights of The Safety Relay Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Single Function Safety Relays
- Modular and Configurable Safety Relays
- By Application:
- Automotive
- Energy & Power
- Manufacturing
- Pharmaceutical
- Construction
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Safety Relay Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A safety relay is a device that helps to ensure the safe operation of equipment. It monitors conditions and sends an alarm if something goes wrong.
Some of the major players in the safety relay market are Allen-Bradley, Phoenix, Rockwell Automation, Schneider Electric, Omron, Siemens, Pilz, IDEC, SICK, Eaton, Panasonic, Hongfa, wenglor sensoric GmbH, MITSUBISHI, ABB, Contrinex.
The safety relay market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Safety Relay Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Safety Relay Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Safety Relay Market - Supply Chain
4.5. Global Safety Relay Market Forecast
4.5.1. Safety Relay Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Safety Relay Market Size (000 Units) and Y-o-Y Growth
4.5.3. Safety Relay Market Absolute $ Opportunity
5. Global Safety Relay Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Safety Relay Market Size and Volume Forecast by Type
5.3.1. Single Function Safety Relays
5.3.2. Modular and Configurable Safety Relays
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Safety Relay Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Safety Relay Market Size and Volume Forecast by Application
6.3.1. Automotive
6.3.2. Energy & Power
6.3.3. Manufacturing
6.3.4. Pharmaceutical
6.3.5. Construction
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Safety Relay Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Safety Relay Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Safety Relay Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Safety Relay Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Safety Relay Demand Share Forecast, 2019-2029
9. North America Safety Relay Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Safety Relay Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Safety Relay Market Size and Volume Forecast by Application
9.4.1. Automotive
9.4.2. Energy & Power
9.4.3. Manufacturing
9.4.4. Pharmaceutical
9.4.5. Construction
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Safety Relay Market Size and Volume Forecast by Type
9.7.1. Single Function Safety Relays
9.7.2. Modular and Configurable Safety Relays
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Safety Relay Demand Share Forecast, 2019-2029
10. Latin America Safety Relay Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Safety Relay Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Safety Relay Market Size and Volume Forecast by Application
10.4.1. Automotive
10.4.2. Energy & Power
10.4.3. Manufacturing
10.4.4. Pharmaceutical
10.4.5. Construction
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Safety Relay Market Size and Volume Forecast by Type
10.7.1. Single Function Safety Relays
10.7.2. Modular and Configurable Safety Relays
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Safety Relay Demand Share Forecast, 2019-2029
11. Europe Safety Relay Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Safety Relay Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Safety Relay Market Size and Volume Forecast by Application
11.4.1. Automotive
11.4.2. Energy & Power
11.4.3. Manufacturing
11.4.4. Pharmaceutical
11.4.5. Construction
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Safety Relay Market Size and Volume Forecast by Type
11.7.1. Single Function Safety Relays
11.7.2. Modular and Configurable Safety Relays
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Safety Relay Demand Share, 2019-2029
12. Asia Pacific Safety Relay Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Safety Relay Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Safety Relay Market Size and Volume Forecast by Application
12.4.1. Automotive
12.4.2. Energy & Power
12.4.3. Manufacturing
12.4.4. Pharmaceutical
12.4.5. Construction
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Safety Relay Market Size and Volume Forecast by Type
12.7.1. Single Function Safety Relays
12.7.2. Modular and Configurable Safety Relays
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Safety Relay Demand Share, 2019-2029
13. Middle East & Africa Safety Relay Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Safety Relay Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Safety Relay Market Size and Volume Forecast by Application
13.4.1. Automotive
13.4.2. Energy & Power
13.4.3. Manufacturing
13.4.4. Pharmaceutical
13.4.5. Construction
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Safety Relay Market Size and Volume Forecast by Type
13.7.1. Single Function Safety Relays
13.7.2. Modular and Configurable Safety Relays
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Safety Relay Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Safety Relay Market: Market Share Analysis
14.2. Safety Relay Distributors and Customers
14.3. Safety Relay Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Allen-Bradley
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Phoenix
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Rockwell Automation
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Schneider Electric
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Omron
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Siemens
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Pilz
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. IDEC
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. SICK
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Eaton
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Panasonic
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. Hongfa
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. wenglor sensoric GmbH
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. MITSUBISHI
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. ABB
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Contrinex
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
