Emergency Stop Switches Market Research Reveals Industry Taxonomy, Opportunities and Challenges, Demand and Key Regions with Growth Forecast till 2028
Recently, a novel report developed using proven research methodologies at the headquarters of Fact. MR has identified various prominent factors and trends prompting market growth of emergency stop switches market. The study is titled as “Emergency Stop Switches Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2027”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of 2018-2027. For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global emergency stop switches market.
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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. It’s 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.
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