Industrial Safety Market Types, Regions and Applications Research Report Forecast to 2024


Posted November 20, 2019 by rahulwgr123

Global Industrial Safety Market Research Report: by Type (Emergency Shutdown Systems (ESD) Fire & Gas Monitoring Systems, High Integrity Pressure Protection Systems (HIPPS)
 
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.

Segmental Overview

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

Based on the type, the global Industrial Safety Market has been segmented into fire & gas monitoring systems, emergency shutdown systems (ESD), high integrity pressure protection systems (HIPPS), turbomachinery control (TMC), burner management systems (BMS), and others.

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

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

Regional Outlook

Based on the region, the industrial safety market has been analyzed across North America, Asia-Pacific, Europe, and the Rest of the World (RoW).

North America is anticipated to secure the largest share of the global industrial safety market growth. The existence of well-established industries in North America and the growing concern regarding the safety of workers are likely to intensify the growth of the regional market. Robust adoption of industrial safety solutions is one of the crucial aspects of the fourth industrial revolution, which is anticipated to boost the North American industrial safety market growth. In the Asia Pacific region, the stringent safety measures taken by the government is expected to surge the regional industrial safety market growth. Additionally, rapid industrialization in Asia Pacific region to encourage the industrial safety market growth. The growing need for availing effective manufacturing solutions to workers in the APAC is anticipated to drive the industrial safety market growth.

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Industry News

August 2019

Students from the University of New South Wales (UNSW) University, a public research university in Australia won UNSW Maker Games competition. They designed a virtual reality system that could enable workers to shut down dangerous machinery in industrial plants.

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Last Updated November 20, 2019