Report Id: SNS/SEMI/1619 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
Industrial Safety Market Size was valued at USD 5.99 billion in 2021 and is expected to reach USD 9.43 billion by 2028, and grow at a CAGR of 6.7% over the forecast period 2022-2028.
Industrial safety and equipment solutions were used to reduce or prevent hazards and threats to industrial plants and equipment. Industrial safety systems include the security of industrial property, personnel, and the entire industrial unit environment. The growing number of industries in several countries, the increasing demand for high production standards, and the regulations and laws imposed by government agencies promote the growth of the industrial security market as a whole.
Safety regulations with strict mandates.
Increased productivity and higher sustainability.
Industrial safety measures that are effective and well-managed.
Huge initial investment.
Upgradation of the safety system.
Rise adoption of Industrial Internet of things (IIOT)
Real time analysis and possible solutions.
It is difficult for designers to anticipate potential hazards related to safety systems.
IMPACT OF COVID-19:
The industrial safety market, like any other industry, has been impacted by COVID 19's prolonged lockdown and deteriorating economic conditions. Several industries have lowered output, reduced staff, the supply chain has been disrupted, raw materials for manufacturing activities have not been delivered to the production region, logistics have been seriously disrupted, and several other parts of the industries have been significantly disrupted. In recent years, such considerations have greatly lowered the demand for industrial safety market.
Due to the rapid spread of COVID 19, manufacturers, on the other hand, were more concerned about the safety of current workers on their facilities. The present economic crisis, which has stifled new project development, has pushed major industrial players to adopt more industrial safety measures and equipment. As a result of COVID 19, the market value of industrial safety has fluctuated in the graph.
The key players in the Global Industrial Safety Market are ABB Ltd, Siemens, Baker Hughes, Yokogawa Electric, Automation, Inc, Hima Paul Hildebrandt, Johnson Controls, Fortress Interlocks, Rockwell Automation, Emerson Electric, HIMA, Omron Corporation, General Electric, Proserv Ingenious Simplicity, Euchner and Other.
KEY MARKET SEGMENTATION:
Presence Sensing Safety Sensors
Programmable Safety Systems
Safety Interlock Switches
Emergency Stop Controls
Safety Controllers/ Modules/ Relays
Two-Hand Safety Controls
Oil & Gas
Food & Beverages
Aerospace & Defense
Healthcare & Pharmaceuticals
Energy & Power
Metals & Mining
In various nations, the expanding automation of businesses is propelling the Industrial Safety market forward. The US Department of the Interior, in particular, has made plans to allow offshore drilling in the region. As a result, the region anticipates lucrative opportunities as the oil and gas business expands. Several countries, on the other hand, are progressively planning to minimise their reliance on Chinese products by expanding their own manufacturing units. Several emerging countries are projected to benefit from these factors, which are expected to enhance market growth in the Industrial Safety sector.
The Chinese government has been boosting its investments in the automobile industry in terms of new projects. The advancement of electric cars and automation equipment, as well as the development of Chinese safety standards and regulations, are likely to provide profitable opportunities for the region's Industrial Safety industry.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2021||US$ 5.99 Billion|
|Market Size by 2028||US$ 9.43 Billion|
|CAGR||CAGR of 6.7% From 2022 to 2028|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• by type (Machine Safety, Worker Safety)
• by component (Presence Sensing Safety Sensors, Programmable Safety Systems, Safety Interlock Switches, Emergency Stop Controls, Safety Controllers/ Modules/ Relays, Two-Hand Safety Controls, Others)
• by Industry (Oil & Gas, Food & Beverages, Aerospace & Defense, Healthcare & Pharmaceuticals, Energy & Power, Chemicals, Automotive, Semiconductor, Metals & Mining, Others)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||ABB Ltd, Siemens, Baker Hughes, Yokogawa Electric, Automation, Inc, Hima Paul Hildebrandt, Johnson Controls, Fortress Interlocks|
|Key Drivers||• Safety regulations with strict mandates.
• Increased productivity and higher sustainability
|Restraints||• Huge initial investment.
• Upgradation of the safety system.
Frequently Asked Questions (FAQ) :
The Industrial Safety Market size was valued at 5.9 billion in 2021 at a CAGR of 6.7%.
Huge initial investment and Upgradation of safety system are limiting the Industrial Safety Market's expansion.
The key players in the Industrial Safety Market are ABB Ltd, Siemens, Baker Hughes, Yokogawa Electric, Automation, Inc, Hima Paul Hildebrandt, Johnson Controls, Fortress Interlocks, Rockwell Automation, Emerson Electric, HIMA, Omron Corporation, General Electric, Proserv Ingenious Simplicity, Euchner and Other.
Top-down research, bottom-up research, qualitative research, quantitative research, and Fundamental research.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Industrial Safety Market Segmentation, by Type
8.2 Machine Safety
8.3 Worker Safety
9. Global Industrial Safety Market Segmentation, by Component
9.2 Presence Sensing Safety Sensors
9.3 Programmable Safety Systems
9.4 Safety Interlock Switches
9.5 Emergency Stop Controls
9.6 Safety Controllers/ Modules/ Relays
9.7 Two-Hand Safety Controls
10. Global Industrial Safety Market Segmentation, By Industry
10.2 Oil & Gas
10.3 Food & Beverages
10.4 Aerospace & Defense
10.5 Healthcare & Pharmaceuticals
10.6 Energy & Power
10.10 Metals & Mining
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12 Company Profiles
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 ABB Ltd
12.4 Baker Hughes
12.5 Yokogawa Electric
12.6 Automation, Inc
12.7 Hima Paul Hildebrandt
12.8 Johnson Controls
12.9 Fortress Interlocks
12.10 Rockwell Automation
12.11 Emerson Electric
12.13 Omron Corporation
12.14 General Electric
12.15 Proserv Ingenious Simplicity
13 Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
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