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Industrial Safety Market Growing Popularity and Emerging Trends |ABB, Honeywell International, Rockwell Automation,, Schneider Electric, Yokogawa Electric Corporation, Emerson Electric

03-06-2020 03:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Research for Markets

Industrial Safety Market Growing Popularity

Industrial Safety Market Growing Popularity

Global Industrial Safety Market survey offers key information about the industry, helpful and important facts and figures, expert opinions, and the latest developments across the world. The Industrial Safety Market report includes data on patterns and improvements, target business sectors and materials, limits and advancements. In this Industrial Safety Market report, a methodical SWOT analysis & investment analysis is performed which forecasts forthcoming opportunities for the Industrial Safety Market players

Industrial safety market is expected to rise by a substantial CAGR of 8.75% and is expected to reach USD 7.63 billion by 2029 in the forecast period of 2020-2029. The growth of the market is driven by mandates for safety regulations, increasing demand for safety systems in the oil & gas industry, increasing need for reliable safety systems for personnel and asset protection, industrial revolution 4.0, and increasing automation in hazardous industrial areas.

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Few of the major competitors currently working in industrial safety market are ABB, Honeywell International, Rockwell Automation,, Schneider Electric, Yokogawa Electric Corporation, Emerson Electric Co., GENERAL ELECTRIC, HIMA, OMRON Corporation, Siemens, Proserv UK Ltd, Johnson Controls, Balluff Automation, Euchner-USA, Inc., Fortress Interlocks and many others.

Industrial Safety Market Scope and Market Size
Industrial Safety Market Global Industry- By Component ( Safety Sensors, Programmable Safety Systems, Safety Controllers/Module/Relays, Safety Switches, Emergency Stop Devices, Safety Valves, Others), Product ( Emergency Shutdown Systems (ESD), Fire & Gas Monitoring Systems, High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), Turbomachinery Control (TMC)), Industry (Oil & Gas, Food & Beverages, Pharmaceuticals, Chemicals, Power Generation, Metals & Mining, Water and Wastewater, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Industrial Safety Market Drivers:
o With rising demand of safety systems essentials in oil and gas industry will drive the market growth.
o The mandates for safety regulation is also going to boost the market growth.
o The industry revolution 4.0 in growing demand is also going to drive the market growth.
o The growing automation in hazardous industrial areas is also going to drive the market growth.
o With the rise in need of reliable safety system for personnel and asset protection is also going to drive the market growth.

Industrial Safety Market Restraints:
High costs involved in maintenance and automation of equipment in hazardous environment is also among the factor hampering the growth of the market.

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Industrial Safety Market has been segmented on the basis of component, product and industry.

On the basis of component segment, the industrial safety market is sub segmented into safety sensors, programmable safety systems, safety controllers/module/relays, safety switches, emergency stop devices, safety valves and others. The programmable safety systems is expected to grow at highest CAGR because of the usage of safety PLC.

Based upon the product segment, the industrial safety market is sub segmented into emergency shutdown systems (ESD), fire & gas monitoring systems, high integrity pressure protection systems (HIPPS), burner management systems (BMS) and turbomachinery control (TMC).The emergency shutdown systems (ESD) system market is expected to grow at highest CAGR

The industry segment is further classified into oil & gas, food & beverages, pharmaceuticals, chemicals, power generation, metals & mining, water and wastewater and others. The power generation segment is also expected to grow at highest CAGR in the forecasted period because of the wide usage of fire & gas monitoring, burner management and emergency shutdown systems are widely used in power plants.

Country Level Analysis of Industrial Safety Market
On the basis of region, the industrial safety market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.

Key Developments in the Market:
In December 2019, The U.S. Department of Labor's Occupational Safety and Health Administration (OSHA) has laid emphasis on National Emphasis Program for hazard amputations in manufacturing industries. The NEP addresses production and processing facilities where workers are hurt by unguarded or poorly secured machinery and equipment.

In June 2019, Avantha Group Company, CG Power and Industrial Solutions Limited (CG) added products for the industrial automation which are Emotron VSX and Emotron VSM Series variable speed Drives for critical applications. The uniqueness of these products apart from advanced features is compact size. CG also introduced human machine interface (HMI) along with programmable logic control (PLC) for entering new market of automation sector

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Major Table of Contents: Global Industrial Safety Market
1 Industrial Safety Market Overview
2 Global Industrial Safety Market Competitions by Players
3 Global Industrial Safety Market Competitions by Types
4 Global Industrial Safety Market Competitions by Applications
5 Global Industrial Safety Production Market Analysis by Regions
6 Global Industrial Safety Sales Market Analysis by Region
7 Imports and Exports Market Analysis
8 Global Industrial Safety Market Players Profiles and Sales Data
9 Industrial Safety Market Upstream and Downstream Analysis
10 Global Industrial Safety Market Forecast
11 Research Findings and Conclusion

Thanks for reading this article, you can also get individual chapter wise section or region wise report version like North America, Europe or Asia.

Contact:

Mr. A Naidu

Research for Markets

Tel: +44 8000-4182-37 (UK)

Email: alan.naidu@researchformarkets.com

About Research for Markets:

Research for Markets indulges in detailed and diligent research on different markets, trends and emerging opportunities in the successive direction to cater to your business needs. We have established the pillars of our flourishing institute on the grounds of Credibility and Reliability. RFM delve into the markets across Asia Pacific, North America, South America, Europe, Middle East and Africa.

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