Industrial Safety Market Research Report 2020: Industry Size, Share, Trends, Growth, Sales, Revenue, Risk and Opportunity Assessment with Regional Analysis and Segmentation 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
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.
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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.
The companies operating in industrial safety market are focused towards developing safety product and solutions that comply with the regulations levied by the government. to achieve this, the companies constantly focus on innovations and develop solutions which provide high levels of safety to workers and equipment operators working in the plant or facility. The companies have also followed inorganic growth strategies which include acquisitions, partnerships, joint ventures and collaborations to expand their geographic presence and gain competitive advantage in the global industrial safety market.
- In June 2019, Total Safety has acquired Airgas On-Site Safety Services (AOSS), a national safety service provider in the US. Through this acquisition, AOSS will help Total Safety to broaden its offering of safety solutions, technologies and productivity solutions throughout the US, with a high focus on the west coast and mountain regions.
- In June 2019, Petzl introduced an advanced and improved series of helmets—STRATO and VERTEX. These helmets are equipped with high-quality expanded polypropylene (EPP) and expanded polystyrene (EPS) foam to increase its shock absorption capacity and reduce its weight. These helmets comply with the constantly evolving needs of the construction and general industry sectors.
- In May 2019, UL LLC introduced machine risk assessment services to help factory owners, asset owners, and employers reduce the vulnerabilities that might occur at workplaces, thereby providing the employees with a safe work environment.
The market for industrial safety 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.
- 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
- Certification and training firms
- Regulatory agencies
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Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Landscape
4.1 Porter’s Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.5 Bargaining Power Of Suppliers
4.2 Value Chain/Supply Chain Of The Global Industrial Safety Market
5 Market Landscape
5.2 Growth Drivers
5.3 Impact Analysis
5.4 Market Challenges
6 Market Trends
6.2 Growth Trends
6.3 Impact Analysis
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