Global Industrial Safety Market, By Product (Emergency Shutdown Systems, Fire & Gas Monitoring Systems, High Integrity Pressure Protection System, Others), Component (Safety Sensors, Programmable Safety Systems, Safety Controllers/Modules/Relays, Others), Industry (Chemicals, Oil & Gas, Power Generation, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Industrial Safety Market Analysis and Insights
Industrial safety market will reach at an estimated value of USD 6.75 billion and grow at a CAGR of 7.90% in the forecast period of 2021 to 2028. Rising strict mandates for safety regulations is an essential factor driving the industrial safety market.
Industrial safety is defined as the management of all events and operations in order to maintain and protect the safety of employees and their properties from numerous hazards, accidents, and risks. Industrial safety is important in sectors such as oil, aircraft, and gas, nuclear, and mining industries, where a small mistake can be disastrous. Safety and process control are merged together to help in maintaining a healthy working environment for equipment and employees. Numerous safety systems are used as a countermeasure in any hazardous plant such as oil & gas plants or nuclear plants and the systems also includes process safety shutdown system (SSS), shutdown system (PSS), fire and gas system (FGS), emergency shutdown-(ESD), emergency depressurization (EDP) systems among others.
Rising number of industries that are making industrial safety a vital part of their employee policies is a crucial factor accelerating the market growth, also rising demand for the safety systems in the oil and gas industry, rising rapid technological advancement producing reliable safety equipments, rising urbanization all over the globe, rising industrialization in some parts of the world and rising growth in the utilization of IoT in myriad industries among developing countries, are the major factors among others boosting the industrial safety market. Moreover, rising research and development activities in the market, rising acceptance of workplace safety standards in emerging economies and rising usage of industrial internet of things will further create new opportunities for industrial safety market in the forecast period mentioned above.
However, increasing investments required for automation and installing industrial safety systems and rising lack of awareness and complexity of standards are the major factors among others restraining the market growth, while rising supply chain disruptions due to lockdown and social distancing norms and increasing failure to access all machinery-related risks will further challenge the industrial safety market in the forecast period mentioned above.
This industrial safety market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on industrial safety market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Industrial Safety Market Scope and Market Size
Industrial safety market is segmented on the basis of product, component and industry. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, industrial safety market is segmented into emergency shutdown systems, fire & gas monitoring systems, high integrity pressure protection system and others.
- Based on component, the industrial safety market is segmented into safety sensors, programmable safety systems, safety controllers/modules/relays and others.
- The industrial safety market is also segmented on the basis of industry into chemicals, oil & gas, power generation and others.
Industrial Safety Market Scope Country Level Analysis
Industrial safety market is analysed and market size, volume information is provided by country, product, component and industry as referenced above.
The countries covered in the industrial safety market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America and Europe dominates the industrial safety market due to rise in implementation of workplace safety and health standards in numerous industries, increasing awareness about occupational hazards and industrial accidents, especially in the oil and gas and construction sectors, rising rapid technological advancement producing reliable safety equipment and rising urbanization in this region. Asia-Pacific is the expected region in terms of growth in industrial safety market due to rising research and development activities in the market, rising acceptance of workplace safety standards in emerging economies and increasing usage of industrial internet of things in this region.
The country section of the industrial safety market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Industrial Safety Market Share Analysis
Industrial safety market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to industrial safety market.
The major players covered in industrial safety market report are Emerson Electric Co., Honeywell International Inc, Rockwell Automation, ABB, Schneider Electric, GENERAL ELECTRIC, Yokogawa India Ltd., HIMA, OMRON Corporation, Siemens, Ingenious Simplicity, Johnson Controls., Balluff Automation India Pvt. Ltd., EUCHNER GmbH + Co. KG, Fortress Interlocks, 3M, Tusker Industrial Safety, W.W. Grainger, Inc, Ceasefire Industries Pvt. Ltd and DuPont among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Research Methodology
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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