- An emergency stop switch is a safety instrument used in emergency situations for shutdown of machinery if it cannot be shut down in the usual manner. Emergency stop switches are also referred to as kill switches, emergency power off switches, or emergency off switches.
- Emergency stop switches, usually known as E-stops, ensure the safety of machinery and individuals and provide predictable, consistent, and failsafe control response
- Emergency stop switches are used in manufacturing and processing plants in industries such as food & beverages, healthcare, construction, and metalworking
- The global emergency stop switches market is projected to expand at a rapid pace during the forecast period, due to increasing demand for emergency stop switches from food & beverages, healthcare, and metalworking sectors
Global Emergency Stop Switches Market: Key Drivers and Restraints
- Stringent government regulations regarding workplace safety are expected to boost the demand for emergency stop switches in end-use industries during the forecast period
- Rising adoption of safety methods along with safe equipment in essential industrial sectors to avoid dangerous incidents is expected to boost the demand for emergency stop switches during the forecast period. Increasing demand to reduce the operation time and improve the performance and production capacity and rising demand for improving the reliability and stability of machinery at different hazardous locations are some of the major factors projected to boost the global emergency stop switches market in the next few years.
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- Growing focus of manufacturers on the development of emergency stop switches that comply with the required industrial safety standards is a major factor driving the usage of emergency stop switches. This factor is estimated to propel the global emergency stop switches market during the forecast period.
- Incorporation of advanced and wireless technologies in emergency stop switches to provide effective management of industrial equipment is anticipated to boost the demand for emergency stop switches during the forecast period.
Impact of COVID-19 on Global Emergency Stop Switches Market
- Increasing cases of COVID-19 across the globe are resulting in economic slowdown. The impact of COVID-19 is being absorbed in each sector of the economy, including the global manufacturing automation industry. This, in turn, is projected to indirectly hinder the global emergency stop switches market in the next few years.
- Some of the events in the manufacturing industry have been cancelled or postponed due to COVID-19 pandemic. For instance, ISA AEC Automation Expo and Conference 2020 has been postponed until October 2020. The Montreal Manufacturing Technology Show has also been postponed.
North America to Hold a Major Share of Global Emergency Stop Switches Market
- In terms of region, the global emergency stop switches market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the global emergency stop switches market in 2018, due to presence of well-established and technologically advanced manufacturers in the region. The U.S. is a key market in North America, due to high demand for emergency stop switches in the country.
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- The emergency stop switches market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to rising government investments in providing advanced personnel and safety systems in the region. China is a key market in Asia Pacific.
Global Emergency Stop Switches Market: Competition Landscape
Several local, regional, and international players are active in the emergency stop switches market. Hence, the market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Rapid technological advancements have led to opportunities in the global emergency stop switches market. Market players are gradually focusing on merger and acquisition activities to develop new products and improve their existing product offerings.