Published On : 28 Nov 2016
The industrial safety integrated components market is growing at a healthy pace on account of a huge demand for automation across industries.QYResearchReports.com has recently added a new market research study that studies the global industrial safety integrated components market in detail. The report, titled ‘Global Industrial Safety Integrated Components Sales Market Report 2016,’ is now available for sale on the website of QYResearchReports.com. The report studies the market, especially in China, India, South East Asia, Japan, North America and Europe. The study is a comprehensive analysis of the drivers and restraints affecting the market and also discusses the segmentation of the market based on key criteria. It discusses trends and opportunities in the market and enables investors and players in the market to understand the market developments, thus allowing them to make profitable decisions.
The global industrial safety integrated components market is fragmented with many regional and international players. While local players face difficulties to compete with their international counterparts owing to their high quality and range of features, international vendors are actively expanding their presence in the market. The competition among players is expected to intensify with the rising number mergers and collaborations between companies and also due to the innovations in the field. Some of the players profiled in the report are ABB, Hitachi, KEYENCE, Honeywell International, Rockwell Automation, Siemens, Littelfuse, Bosch Rexroth, Beckhoff, and IDEC.
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The market is driven by the growing concept of smart industries which does not only imply automation but also the use of safety integrated components. Extensive investments in smart grids across the globe is also expected to lead towards a growth in the industrial safety integrated components market. Industrial safety integrated components have high use – electronic switches help with the conversion of AC to DC and vice versa, high-voltage direct current helps in the supply of power, and transmitter helps in metering processes to ensure efficiency.
The market is segmented on the basis of application and type. By type, the market is segmented into safety relay, safety plc, safety switches, and transmitter. It is expected that the safety relays segment will lead in the market in the coming years as they eliminate damage to equipment and workers. It also helps in the automation process by detecting faults in electrical circuits and enables equipment shutdown whenever necessary. The need for safety relays will continue as demand for electricity grows.
On the basis of geography, it is expected that Asia Pacific will lead in the market owing to a high demand from the power, electronics, oil and gas, and automotive industries. Developing nations from Asia Pacific are investing extensively in infrastructure and industrial upgrades, which in turn will drive the industrial safety integrated components market in the region.