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It is expected that the compound annual growth rate of the machine safety market during the forecast period (2021-2026) will exceed 6.3%. Industries and manufacturing facilities need to comply with regional standards and regulations, which has been driving the development of the machine safety market.

New York, November 18, 2021 (GLOBE NEWSWIRE) - Reportlinker.com announced the release of the report "Machine Security Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)"-https:// www.reportlinker .com/p06184964/?utm_source=GNW Several countries in the world are striving to achieve the unification of global standards. This is particularly evident in the field of machine safety. The global machinery safety standards are managed by two organizations: IEC and ISO. In addition, regional and national standards still exist and continue to support local requirements, but in various countries/regions, international standards established by ISO and IEC have begun to be used. The main highlight The goal of industrialists is to deploy advanced machinery to increase their productivity. They are mainly concerned with the safety of the machine, rather than harming the productivity of the machine. Although this is far from a new requirement, it has become even more important in the age of Industry 4.0. In this regard, more and more machine manufacturers seek the cooperation of machine safety experts in the early stages of designing new series, aiming to integrate safety functions into machine functions to maximize productivity and high safety. Driven by the rapid global development of industrialization, the establishment of new factories has been promoting the growth of the studied market. For example, in June 2019, Schneider Electric launched a smart factory in the United States to demonstrate how its EcoStruxure architecture and related product suite can support improved operational efficiency and lower customer costs. Governments and manufacturers around the world are seriously considering plans to reduce their excessive dependence on Chinese production. For example, the Japanese government took the lead in this direction, announcing that it would provide US$2.2 billion in assistance to domestic companies to transfer production from China. It is expected that such investments in the establishment of manufacturing facilities will increase the demand for the machine safety market. In addition, the COVID-19 outbreak forced various industries to halt almost all industrial operations worldwide. In addition, in the spread of the COVID-19 pandemic, the machine safety equipment market that relies on the massive adoption of manufacturing and industrial frontiers is likely to be affected because the pandemic has caused changes in planned investments by various companies during the forecast period. Major market trends The oil and gas industry will occupy an important share The increasing demand for industrial automation products in the oil and gas industry is also expected to create opportunities for machine safety. It can upgrade existing machines, thereby creating a demand for new machine safety equipment that can meet the upgraded equipment. As the U.S. Department of the Interior plans to implement offshore exploration and drilling on approximately 90% of the OCS area under the National OCS Program for 2019-2024, the oil and gas sector in the region is expected to open up the market New opportunities. In addition, in some cases, safety factors can also affect the demand for machine safety equipment, especially in the oil and gas industry. For example, in a country like Mexico, pipelines are often vulnerable to insurgent attacks and theft, so there is an increasing demand for automation and powerful emergency stop systems and equipment that support remote operations. In Asian countries such as India, in 2021, Ahmedabad (Gujarat) rural police recovered nearly 24,000 gallons of crude oil. They arrested a man suspected of participating in the Salaya Mathura Pipeline (SMPL) project in the Bareja village of Daskroi (Gujarat). The SMPL pipeline theft was discovered for the first time in December 2020, when Indian Oil Company officials in Ahmedabad village noticed that the SMPL pipeline was partially low in Bareja village in Daskroi taluka. The officials found a gap in the pipeline with a valve on it, and a 2-inch-diameter, 50-meter-long pipeline passed through a hole in the ground. Under such circumstances, the government is increasingly investing in process automation related to pipeline safety, which is expected to increase the demand for advanced emergency shutdown systems. The increasing adoption of innovative IoT solutions (including oil and gas sensors) is creating a large demand for automated safety systems to support the growth of the market. ? With the help of this technology, users can track the amount of oil in the truck, and even find leaks in pipelines located anywhere. This is an IoT-driven device that uses volumetric sensors to detect the smallest changes in gasoline levels and quickly warn the authorities. It also allows users to monitor gas concentrations in real time to ensure the safety of equipment and workers in hazardous industrial environments. In addition, it can also help people working underground (especially in mines) maintain proper oxygen levels through gas detection sensors. ? The Asia-Pacific region will occupy an important share. The Asia-Pacific region is expected to see significant growth during the forecast period, mainly due to the significant increase in investment in the region's industrial sector. Countries in this region are actively promoting the manufacture of household products. For example, the "Made in China 2025" policy encourages advanced manufacturing, leading to increased attention to safety. In terms of revenue, China is expected to become the largest market for machine safety products in the Asia-Pacific region. In addition, the continuous improvement of safety technology standards, the continuous enhancement of national personal safety awareness, and the continuous participation of the state and enterprises in market promotion have accelerated the development of the national machinery safety market. China is investing heavily in the automotive industry and adding new projects. The development of electric vehicles has greatly promoted capital investment, most of which are concentrated on new machines. In addition, China’s 13th Five-Year Plan is expected to promote the development of China’s safety standards and increase investment in safety products. The plan emphasizes the overall safety of manufacturing and aims to reduce workplace accidents by adopting new technologies and enforcing regulations. The plan clearly proposes to upgrade agricultural machinery and special equipment to meet safety requirements. The Sino-US trade war has caused many companies doing business in the United States to transfer part of their manufacturing operations back to the United States or Mexico or emerging markets in South and Southeast Asian countries. Transfer to other Asian countries is expected to promote the growth of the researched market. ? The COVID-19 outbreak is expected to further accelerate this process, as companies in South Korea and Japan are seeking to diversify their production and reduce excessive reliance on Chinese-made products. In addition, the growth of construction output value related to manufacturing plants in South and Southeast Asia has declined in 2020, reflecting the major disruption caused by COVID-19, which has affected the growth of the machine safety market. ?Governments and manufacturers around the world are seriously considering plans to reduce their excessive dependence on Chinese production. For example, the Japanese government took the lead in adopting this approach, launching a US$2.2 billion aid package for domestic companies wishing to move production out of China. Due to such expenditures for the establishment of manufacturing facilities, the need for machine safety is expected to increase. Competitive landscape The machine security market is fiercely competitive in nature, and it appears fragmented due to the presence of several well-known participants. The key strategies derived from the analysis of the recent developments of market participants include agreements and partnerships, acquisition expansion, and product launches. These major players strive to provide comprehensive security solutions with proficient technology and functions. The growth of market product innovation and technology is also expected to create a large number of investment opportunities for global participants. May 2021-IDEC added the SX5E-HU085B 8-port unmanaged industrial Ethernet switch to its product portfolio. The switch supports QoS, IGMP snooping, and broadcast storm protection functions, and is consistent with the expansion of Ethernet, IoT, and IIoT devices used in critical and challenging commercial and industrial venues. May 2020-ABB announced the launch of its Induction xP Plus actuator for paper and packaging manufacturers seeking an efficient, powerful, fast and safe way to control the calipers on the paper machine calendar. Induction xP Plus can quickly ensure efficient heating up to 100 kW/m in highly targeted areas, providing unparalleled flexibility for power density and heating zone width. Other benefits: Market estimates (ME) in Excel format. 3 months of analyst support. Read the full report: https://www.reportlinker.com/p06184964/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research Solution. Reportlinker finds and organizes the latest industry data so that you can get all the market research you need instantly in one place. __________________________

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Romania’s ruling Liberal Party and the left-wing Social Democratic Party finalized their planning alliance on Monday and agreed to support retired Army General Nikolachuka as prime minister, hoping to end the two-month political deadlock. Romania is one of the poorest member states of the European Union. It has been politically paralyzed since the split of the centrist coalition government in September, threatening economic recovery and efforts to reduce the huge budget and trade deficit. The Liberal Party and its junior partners, the Hungarian UDMR and the Social Democratic Party (PSD) stated that they will set up a cabinet on November 25 to fight the deadliest COVID-19 wave since the pandemic began.

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