Report

The Philippines machine safety market is anticipated to grow at a significant CAGR for the forecast period, 2023-2027. The market growth can be attributed to the implementation of strict safety standards and increasing awareness about the benefits of installing safety systems across various end-user industries.
The COVID-19 pandemic negatively impacted the country's economy because production in the majority of manufacturing industries was halted. During this time, the demand for automated machine safety systems increased as the government imposed social distancing and prohibited public gatherings. Most companies installed an automated system to ensure that production was not disrupted. Machine safety systems are installed in the workplace to monitor fire and gas levels and raise alarms to alert the appropriate authorities and limit the spread of damage in the workplace. Machine safety systems integrated with automation technology and operated from remote locations are in high demand because they improve enterprise convenience and safety standards.
Increase in the number of patients suffering from novel coronaviruses influenced the demand for medicines, which boosted the demand for pharmaceuticals and medical devices. Industries associated with the manufacturing of medical devices, pharmaceuticals, food and beverage, and essential commodities made consistent efforts to maintain the expected output. High demand from these industries to reduce impact on production volume is expected to significantly contribute to the country's rising demand for machine safety solutions.
Rising efforts by the government to improve the country's economic situation and increase in the number of industries and manufacturing units are boosting the overall demand for machine safety. Presence of worker safety laws and regulations for the protection of workers' lives and health and enhance their productivity are supporting the growth of the machine safety solutions market.
The digital transformation of business and changes in how businesses operate is creating opportunities for adopting advanced technologies and equipment to increase industry productivity. Cloud computing, big data, Industry 4.0, artificial intelligence, the Industrial Internet of Things (IIoT), and machine learning are key technologies transforming industrial growth. The use of IIoT in industries is raising safety standards because it collects real-time data from sensors and sends it to monitoring systems.
Machine safety systems can collect data from wired and wireless networks to generate real-time alerts and potential emergency solutions. The industrial internet of things is being actively adopted by industries because it allows for quick monitoring, analysis, and control, as well as virtual management of physical systems, resulting in improved performance and output. Growing awareness and the cost-effective solutions offered by these advanced technologies are expected to influence the demand for machine safety in the Philippines over the next five years.
The Philippines machine safety market is segmented on the basis of component, implementation, end user, regional distribution, and company. Based on the end user, the market is divided into electronics and semiconductors, oil and gas, healthcare, food and beverage, automotive, and others. The food and beverage industry is anticipated to register the highest growth during the forecast period, owing to the rising number of industrial accidents.
Key players operating in the Philippines machine market are 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, among others.
Years considered for this report:
Historical Years: 2017-2020
Base Year: 2021
Estimated Year: 2022
Forecast Period: 2023-2027
Objective of the Study:
- To analyze the historical growth in the market size of the Philippines Machine Safety from 2017 to 2021.
- To estimate and forecast the market size of Philippines Machine Safety market from 2023 to 2027 and growth rate until 2027.
- To classify and forecast the Philippines Machine Safety market based on component, implementation, end user, region, and company.
- To identify the dominant region or segment in the Philippines Machine Safety market.
- To identify drivers and challenges for the Philippines Machine Safety market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the Philippines Machine Safety market.
- To identify and analyze the profiles of leading players operating in the Philippines Machine Safety market.
- To identify key sustainable strategies adopted by market players in Philippines Machine Safety market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers and service providers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers and service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, service providers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of the Philippines Machine Safety market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these products and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
- Market research and consulting firms
- Government bodies such as regulating authorities and policy makers
- Organizations, forums, and alliances
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as product manufacturers, service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
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:
o Presence Sensing Safety Sensors
o Emergency Stop Devices
o Safety Interlock Switches
o Safety Controller
o Others
- Philippines Machine Safety Market, By Implementation:
o Individual
o Embedded
- Philippines Machine Safety Market, By End User:
o Electronics and Semiconductors
o Oil and Gas
o Healthcare
o Food and Beverage
o Automotive
o Others
- Philippines Machine Safety Market, By Region:
o National Capital Region (NCR)
o Region IV - Southern Tagalog
o Region III - Central Luzon
o Region VII - Central Visayas
o Region I -Ilocos Region
o 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).