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Industrial Safety Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

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Global Industrial Safety Market forecasted to value over US$ 5.5 Million by 2026 end and register a CAGR of over 8% from 2019 to 2026. Industrial safety plays a huge role in ensuring occupational safety in multiple industries. It is used in providi
Industrial Safety Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global Industrial Safety Market forecasted to value over US$ 5.5 Million by 2026 end
and register a CAGR of over 8% from 2019 to 2026.
Industrial safety plays a huge role in ensuring occupational safety in multiple
industries. It is used in providing safety against various occupational safety and
assures safety to industrial assets and the industrial environment.
The market is segmented on the basis of product type, component, and industry. On
the basis of product, the market is bifurcated into F&GM, ESD, BMS, TMC, HIPPS.
Emergency shutdown systems are expected to drive the growth of the market in the
forecast period. ESD is essential as it’s capable of shutting down an entire plant. It
uses its sensors to detect unwanted conditions and responds through logic
solvers. ESD systems are cost effective and are vastly used by the Oil & Gas and
pharmaceutical industry. HIPPS are also widely used and are expected to boost the
growth of the market. They provide protection to pipelines and vessels.
FGM or fire & gas monitoring systems is also expected to grow during the forecast
period. It continuously monitors fire and toxic gas leakages and prevents any
escalation of danger by sending an early warning. Burner Management System (BMS)
ensures the boiler don't explode by providing safety and safely operating during
shutdowns and startups.
Oil & Gas industry is the biggest end users of the industrial safety market. Oil and gas
plants are prone to accidents and incidents that can affect the environment and the
people. The increasing need for industrial safety in the oil & gas industry has boosted
the growth of the market. Industrial safety is also vastly used by chemicals, metal &
mining, pharmaceuticals, and food & beverages industries as well.
On the basis of component, the market is divided into programmable safety systems,
safety valves, safety systems, safety switches, safety sensors, and emergency stop
devices. Programmable safety systems are easy to operate and are expected to spur
the size of the market. By deploying programmable safety systems many industries
can fulfil their critical infrastructure.
The gradual increase in the need for reliable safety systems for the protection of
personnel and asset protection has boosted the growth of the market. The growing
automation in industrial areas especially in hazardous industrial areas is fueling the
growth of the market. The strict government regulations and protocols regarding the
creation of a safer work culture have propelled the growth of the market.
However, the lack of awareness regarding workplace safety in many industries has
crippled the growth of the market. Lack of awareness regarding occupational hazard
is also limiting the growth of the market.
In terms of regions, North America holds the majority of the share of the market.
Europe is predicted to control the market in the coming years. Implementation of
multiple safety directives and machine safety regulations has accelerated the growth
of the market in the region. The German government has implemented various
regulatory standards aiming at industrial safety and it has boosted the growth of the
market in the region.
Some of the major players of the market are Siemens, Fortress Interlocks, Balluff,
General Electric, Rockwell, Hima Paul, Rockwell, Euchner, and Emerson.
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Industrial Safety Market Segmentation:
By Product Type
• F&GM
• BMS
• HIPPS
• ESD
• TMC
By Component
• Programmable Safety Systems
• Safety Valves
• Safety Switches
• Safety Sensors
• Emergency Stop Devices
By Industry
• Chemicals
• Metals & Mining
• Food & Beverages
• Pharmaceuticals
• Oil&Gas
• Power Generation
By Region:
• Europe
• North America
• APAC
• Latin America
• Rest of World
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
FutureWise Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the industrial safety market based on
the product type, component, industry, and region
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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