Industrial Safety Market 2020: Global Industry Analysis and Opportunity Assessment, Forecast to 2024
Market Research Future (MRFR) announces the publication of its half-cooked research report—global industrial safety market 2019–2024.
According to Market Research Future, the global industrial safety market has been segmented into type, component, industry 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. Fire & gas monitoring systems are used to detect gas leaks, which might have adverse effects on the health of workers. Over the past decade, industries engaged in chemical production have adopted systems to detect leaks and vulnerabilities in the equipment and machinery. Thus, the fire & gas monitoring systems have contributed a significant share in the industrial safety market.
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. Safety sensors are used to identify susceptibilities across the facility and check for intrusion in hazardous areas. The market for safety sensors is estimated to witness substantial growth during the forecast period.
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. Among these, the manufacturing vertical is estimated to exhibit the highest adoption of industrial safety solutions to prevent the risk of hazards such as workplace injuries and vulnerabilities in machinery. However, the energy & power segment is expected to witness the fastest growth during the forecast period.
By region, the global industrial safety market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Among the regions, North America dominated the industrial safety market with the highest market share in 2018. However, the market in Asia-Pacific is anticipated to witness the highest growth during the forecast period owing to the high presence of manufacturing facilities in the region. Also, government regulations supporting industrial safety and security of employees has also fueled the adoption of industrial safety solutions by these facility owners.
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 Rockwell Automation Inc. (US), Siemens AG (Germany), Omron Corporation (Japan), Yokogawa Electric Corp. (Japan), Proserv Ingenious Simplicity (UK), Hima Paul Hildebrandt GmbH (US), Johnson Controls (Ireland), Balluff (US), ABB Ltd (Switzerland), Fortress Interlocks (UK)Emerson Electric Co. (US), Honeywell International Inc. (US), GENERAL ELECTRIC (US), Euchner (Germany), and Schneider Electric (France). These players contribute a significant share in the industrial safety market.
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