Safety Connection Devices Market

Global Safety Connection Devices Market Size (2024 to 2029)

The global safety connection devices market is expected to grow at a CAGR of 7.1% from 2024 to 2029 and the global market size is anticipated to be worth USD 28.22 billion by 2029 from USD 20.03 billion in 2024.

Safety connection devices are those that are used to ensure the safety of humans, other lives, and equipment or machinery in various industries. They consist of various components, such as sensors, switches, etc., that monitor and control any harmful activity, as these devices are designed to prevent industrial accidents and injuries by restricting ongoing operations when safety risks arise. Safety connection devices play a crucial role in workers' safety, maintaining the proper functioning of the machinery and equipment and offering a secure work environment. These systems are used in various industries like automotive, healthcare, manufacturing and others that help to boost the overall functionality of the equipment and hence enhance productivity.

Global Safety Connection Devices Market Drivers:

One of the major drivers of the safety connection devices market is the growing focus on the safety of workers in various industries. Nowadays, workers' safety is the topmost priority of all industries, resulting in a higher need for safety connection devices as these devices make sure machines and equipment stop working when there is a risk to the safety of people. Emergency stop buttons and safety switches are some commonly used safety connection devices to meet safety standards and protect employees. This growing trend that aims to create a safe working environment for everyone is boosting the safety connection devices market demand.

The growing industrial automation is another major driver of the market growth. As technological advancements are rapidly increasing, many industries are using machines and equipment that are automated. This increasing industrial automation leads to more machines working independently, and hence there is a higher risk of accidents or injuries. Hence, these industries are highly adopting safety connection devices to keep a close eye on the machines and detect if there is any danger or risk to workers so that they immediately stop the machines or equipment from working. Furthermore, the strict regulations of the government are driving the market growth. The government has set up strict rules and safety standards for industries to ensure workplaces are safe for employees, which includes using safety connection devices and industries also want to follow the rules to keep their employees safe; for that, they need to adopt safety connection devices.

A significant opportunity for the market is offered by the growing demand for the Internet of Things (IoT) enabled safety connection devices. Because this involves the connection of safety connection devices that are smart and advanced to the internet, it helps devices to give real-time data or updates about safety situations at any workplace. This can help to know risks or dangers in advance more quickly and accurately to keep their workers safe from any harm. Hence, these IoT-enabled safety connection devices will boost the market growth.

Also, the customization for industry-specific requirements offers a growth opportunity for the market. Because every industry has its specific safety requirements. Hence, the customization option opens the door for all industries to adopt safety connection devices as per their safety needs. Through this, safety connection device companies can serve a wide range of industries and can offer safety solutions as per their specific requirements. This attribute can create a wide scope for the safety connection devices market to expand.

Global Safety Connection Devices Market Restraints:

The high cost of implementation is one of the major restraints on the market size expansion. Nowadays, most industries or businesses are adopting safety connection devices at their places as it is crucial to safeguard their employees and the overall working environment. However the high purchasing and installation costs of safety connection devices like sensors and detectors are not affordable for everyone, and this can become a challenge for small businesses or businesses with limited budgets. This high cost becomes a barrier and restricts the market growth.

Another major restraint to the market is the lack of awareness and knowledge about safety connection devices. People are not very aware of these devices, and that might restrict the adoption of safety connection devices at their workplaces. Also, knowledge about the devices is crucial, like how to operate and maintain them properly. Because without knowing these things, one cannot handle these devices. This lack of knowledge and training is further restricting the market demand in various small and medium-sized industries.

Impact of COVID-19 on the global safety connection devices market:

COVID-19 significantly impacted the market growth. On the one hand, disrupted supply chains, manufacturing processes, and transportation restrictions caused delays in production and delivery. Also, the lockdowns led to the shutdown of various industries, due to which there was a decline in market demand. On the other hand, the increased safety measures during the pandemic led to an increase in the adoption of safety connection devices in the pharmaceutical industries, particularly in manufacturing units and healthcare facilities. That boosted the market demand during the pandemic.

REPORT COVERAGE:

This research report on the global safety connection devices market has been segmented and sub-segmented based on type, application and region.

Global Safety Connection Devices Market Type:

• Cables and Cords
• Connectors
• Gateways

The cable and cords segment is anticipated to dominate the safety connections device market share during the forecast period. Because it is used to connect various equipment and machinery, and it provides safety features like ensuring quick disconnection in risky situations. This attribute is boosting the demand for this segment.

However, the connectors segment is expected to grow at the fastest CAGR during the forecasted period. These connectors ensure proper communication and functionality of safety connection devices as they create secure connections between various components of machinery or equipment.

Global Safety Connection Devices Market Application:

• Automotive
• Manufacturing
• Energy and Power
• Healthcare

The automotive industry segment is ruling the market share in the forecasted period. As this industry involves huge manufacturing and assembly units, safety connection devices play a crucial role in ensuring the safety of the workers who work there. These devices help to detect and control accidents and injuries that can happen on the production line. This attribute is contributing to an expansion in the market size. At the same time, the manufacturing segment is expected to grow at a healthy CAGR in the upcoming years because the manufacturing sector is using safety connection devices widely to protect workers from any danger or harm in a wide range of production processes and various machinery or equipment.

Global Safety Connection Devices Market – By Region:

• North America
• Europe
• Asia Pacific
• Latin America 
• Middle East and Africa

North America is dominating the market share in the projected period owing to the presence of various industries such as manufacturing, automotive, and healthcare in this region is leading to an increase in the demand for these devices. Also, the strict government regulations and increased focus on workplace safety further contributed to an increase in safety connection devices market share. However, the Asia Pacific region is expected to grow at the fastest CAGR in the upcoming years. Owing to rapid industrialization and a growing focus on worker safety, and strict government regulations for safety measures in this region. Also, the rising manufacturing and automation industries in some countries like China, India, and Russia are further propelling market growth. 

KEY MARKET PLAYERS:

Companies playing a leading role in the global safety connection devices market include Rockwell Automation, Inc., ABB Ltd, Advantech Co. Ltd, Bihl + Wiedemann GmbH, Siemens AG, Schneider Electric S.E., Lumberg Automation Components GmbH, Murrelektronik Inc., TE Connectivity Ltd., Ifm electronic gmbh and Banner Engineering Corp.

RECENT HAPPENINGS IN THE MARKET:

• In May 2019, LAPP, a top provider of integrated solutions for cable and connection technologies, introduced the new EPIC line of connectors. This new series offers enhanced functionality and includes features like an effective quick lock system.