The Philippines machine
safety market is anticipated to grow at a significant CAGR for the forecast
period, 2023-2027. Implementation of strict safety standards and the growing awareness
about the benefits of installing safety systems in industries are the key
factors driving the demand of the Philippines machine safety market.
Outbreak of COVID-19 Fuels the Market
Demand
Pandemic COVID-19 adversely impacted the
country's economy as production was halted in the majority of the manufacturing
industries. During this period, the demand for automated machine safety systems
witnessed a hike to ensure workplace safety as the government imposed social
distancing and prevented public gatherings. To ensure the production was not
affected, the majority of the companies installed an automated system. The rise
in the number of patients suffering from novel coronavirus influenced the demand
for medicines which ultimately boosted the demand of pharmaceutical and medical
devices industries. Medical devices and pharmaceutical sectors made efforts to
continue their expected production, the food & beverage industry, and the
essential commodities manufacturing industries. The demand from these
industries to not affect the production volume is expected to significantly
contribute to the increased demand for machine safety solutions in the country.
Stringent Policies Emphasizing Worker’s
Safety Fuels Market Growth
Rising efforts by the leading
authorities to improve the economic status of the country and the increasing
number of industries and manufacturing units are boosting the country's overall
development. Presence of worker's safety laws and regulations for the safety of
lives and health of workers and optimize the productivity which may suffer due
to occurrence of some accidents. Machine safety systems are installed in the
workplace for fire and gas monitoring and raise alarms to alert the concerned
authorities to contain the spread of damage at the industrial place. Machine
safety systems integrated with automation technology can be operated from
remote locations, are in high demand as they add to the convenience and raise
safety standards of the enterprises.
Technological Advancements Propels the
Market Growth
Digital transformation of the business
and the change in how businesses operate are creating opportunities for the
adoption of advanced technologies and equipment focusing on boosting the
productivity of the industries. Cloud computing, big data, Industry 4.0,
artificial intelligence, Industrial Internet of Things (IIoT), machine learning
are major technologies revolutionizing industrial growth. The use of IIoT in
industries raises safety standards as it collects real-time information from
the sensors to send the collected information to the monitoring systems.
Machine safety systems can gather the data from the wired and wireless networks
to provide real-time alerts and generate possible solutions in emergencies.
Industries are actively adopting the industrial internet of things as it allows
for quick monitoring, analysis, and control and offers virtual management of
the physical systems, resulting in improved performance and output. Growing
awareness and the cost-effective solutions provided by these advanced
technologies are expected to influence the demand of the Philippines machine
safety market for the next five years.
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Market Segmentation
The Philippines machine safety market is
segmented on the basis of component, implementation, end user, regional distribution, and company. Based
on the component, the market is divided into presence sensing safety sensors,
emergency stop devices, safety interlock switches, safety controller and others.
Based on the implementation, the market is bifurcated into individual and embedded.
Based on the end user, the market is divided into electronics and
semiconductors, oil and gas, healthcare, food, and beverage, automotive, others.
To analyze the market based on the region, the Philippines machine safety market
is studied in major regions namely National Capital Region (NCR), Region IV -
Southern Tagalog, Region III - Central Luzon, Region VII - Central Visayas and
Region I -Ilocos Region.
Market Players
ABB Limited, Schneider Electric SE,
Mitsubishi Electric Corporation, Honeywell International Inc., Siemens AG, TUV
Rheinland Group, ROHM Electronics Philippines Inc., Rite-Hite, Rockwell
Automation, General Electric, Emerson Electric, are among the major market
players in the Philippines that lead the market growth of the Philippines machine
safety market.
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Attribute
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Details
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Base Year
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2021
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Historic Data
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2017 –
2020
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Estimated Year
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2022
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Forecast Period
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2023
– 2027
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Quantitative Units
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Revenue in USD Million, and CAGR for 2017-2021 and 2022-2027
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Report coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments covered
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·
Component
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Implementation
·
End User
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Regional scope
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National
Capital Region (NCR), Region IV - Southern Tagalog, Region III - Central
Luzon, Region VII - Central Visayas, Region I -Ilocos Region, Others
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Key companies profiled
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ABB Limited, Schneider Electric SE, Mitsubishi Electric
Corporation, Honeywell International Inc., Siemens AG, TUV Rheinland Group, ROHM
Electronics Philippines Inc., Rite-Hite, Rockwell Automation, General
Electric, Emerson Electric
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Customization scope
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10%
free report customization with purchase. Addition or alteration to regional
& segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request)
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Report Scope:
In this report, Philippines Machine
Safety market has been segmented into following categories, in addition to the
industry trends which have also been detailed below:
- Philippines Machine Safety Market, By Component:
- Presence Sensing Safety Sensors
- Emergency Stop Devices
- Safety Interlock Switches
- Safety Controller
- Others
- Philippines Machine Safety Market, By Implementation:
- Philippines Machine Safety Market, By End User:
- Electronics and Semiconductors
- Oil and Gas
- Healthcare
- Food and Beverage
- Automotive
- Others
- Philippines Machine
Safety Market, By Region:
- National Capital Region (NCR)
- Region IV - Southern Tagalog
- Region III - Central Luzon
- Region VII - Central Visayas
- Region I -Ilocos Region
- Others
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in Philippines Machine Safety market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
Philippines Machine Safety Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]