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Industrial Safety Market 2019 Company Profiles, Segments, Size, Landscape and Demand by Forecast to 2024

Global Industrial Safety Market Research Report: by Type (Emergency Shutdown Systems (ESD) Fire & Gas Monitoring Systems, High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), Turbomachinery Control (TMC), Others), Component (Safety Sensors, Programmable Safety Systems, Safety Controllers/Module/Relays, Safety Switches, Emergency Stop Devices, Safety Valves, Others), Industry Vertical (Chemicals, Refining, Oil & Gas, Pharmaceutical, Paper & Pulp, Metal & Mining, Water & Wastewater, Energy & Power, Manufacturing, Others), Region – Forecast till 2024

Market Highlights

Industrial safety is one of the major concerns of the factory owners and safety system providers. With the advancements in technology and proliferation of industrial IoT by plants and facilities, the demand for electrical safety products has increased to ensure the efficiency, operations, and safety of electrical components. The safety equipment industry has witnessed a major surge owing to the demand for safety solutions by facility owners. Government regulations and policies that concern the safety of workers and plant operators have further contributed to the growth of the industrial safety market. However, the investments incurred in the maintenance of the equipment are significantly high, which might hamper the market growth in the near future. Also, the market has a limited number of safety certified personnel, which acts as a challenge to plant and facility owners.

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Key Players

The key players in the industrial safety market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are ABB Ltd (Switzerland), Schneider Electric SE (France), GENERAL ELECTRIC (US), Yokogawa Electric Corp. (Japan), Hima Paul Hildebrandt GmbH (US), Emerson Electric Co. (US), Euchner (Germany), Rockwell Automation, Inc. (US), Omron Corporation (Japan), Siemens AG (Germany), Balluff (US), Proserv Ingenious Simplicity (UK), Johnson Controls (Ireland), Honeywell International, Inc. (US), and Fortress Interlocks (UK). The companies are focused on upgrading their existing product portfolios as well as innovating products by investing in research and development to analyze the changing market trends.

Regional Analysis

The market for Industrial Safety Market is projected to witness significant growth during the forecast period from 2019 to 2024. The geographic analysis of the industrial safety market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East & Africa, and South America). According to MRFR analysis, North America is expected to dominate the industrial safety market in terms of revenue generation during the forecast period. Also, the region has witnessed a major concentration of manufacturing facilities in the US and Canada. This has resulted in the adoption of industrial safety solutions by these facilities, therefore, contributing to the growth of the market in North America. On the other hand, the market in Asia-Pacific is expected to register the highest CAGR during the forecast period. Increasing adoption of automation, industrial IoT, and similar technologies in manufacturing plants has increased the demand for industrial safety in the region. Moreover, government regulations leveraging the safety of employees in developing countries, including Taiwan, India, and South Korea, is projected to fuel market growth.

Segmentation

The global industrial safety market has been segmented based on type, component, vertical, and region.

By type, the global industrial safety market has been segmented into emergency shutdown systems (ESD), fire & gas monitoring systems, high integrity pressure protection systems (HIPPS), burner management systems (BMS), turbomachinery control (TMC), and others.

By component, the global industrial safety market has been segmented into safety sensors, programmable safety systems, safety controllers/module/relays, safety switches, emergency stop devices, safety valves, and others.

By industry vertical, the global industrial safety market has been segmented into chemicals, refining, oil & gas, pharmaceutical, paper & pulp, metal & mining, water & wastewater, energy & power, manufacturing, and others.

By region, the global industrial safety market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.

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Intended Audience

  • Designers and manufacturers of industrial safety systems
  • Research organizations, associations, and consulting companies
  • System integrators of industrial safety systems
  • Material handling and automation organizations
  • Safety component providers
  • System integrators
  • Industrial safety certification providers
  • Governments, financial institutions, and investment communities
  • Original equipment manufacturers (OEMs)
  • Technology investors
  • Technology standards organizations, forums, alliances, and associations
  • Consultancy and advisory firms
  • Research organizations
  • Governments
  • Certification and training firms
  • Regulatory agencies

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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Mail:  [email protected]

About Peter Ron

Peter is a Regular contributor to Tribune updates, he specializes in industry research, He also contributes to various online blogs

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