Industrial Safety Market Research Report - Forecast till 2027

Industrial Safety Market Research Report Information 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) and Region - Forecast till 2027

ID: MRFR/SEM/6493-HCR | February 2021 | Region: Global | 111 pages

Industrial Safety Market Synopsis


The industrial safety market was valued at USD 3,345.3 million in 2018 and is expected to reach USD 5,290.1 Million by the end of the forecast period at a CAGR of 8.2%.


Industrial safety solutions prevent vulnerabilities in the manufacturing plants or factories, thereby ensuring the safety of the workers and preventing losses related to the machinery. There exist several factors that might endanger the lives of workers, which include contact with exposed moving parts, flying chips or parts, electricity, manual lifting, and fire and welding hazards. Over the past decade, the market has witnessed several developments, resulting in the adoption of industrial safety solutions by a number of verticals. Increasing regulations and policies supporting the safety of workers and plant machinery has attributed to the adoption of safety solutions by facilities. Moreover, the proliferation of Industry 4.0 and industrial IoT (IIoT) solutions has also favoured the growth of the industrial safety market. 


However, high costs incurred in the maintenance of equipment and automation of machinery might hinder the industrial safety market growth. The global market has a limited number of certified safety personnel, which has created a major challenge for factory operators to implement industrial safety solutions in their facilities.


Segmentation


The industrial safety market has been segmented based on type, component, vertical, and region.


Industrial Safety Market By type: emergency shutdown systems (ESD), fire & gas monitoring systems, high integrity pressure protection systems (HIPPS), burner management systems (BMS), turbomachinery control (TMC), and others.


Industrial Safety Market By component: safety sensors, programmable safety systems, safety controllers/module/relays, safety switches, emergency stop devices, safety valves, and others.


Industrial Safety Market By industry vertical: chemicals, refining, oil & gas, pharmaceutical, paper & pulp, metal & mining, water & wastewater, energy & power, manufacturing, and others.


Industrial Safety Market By region: North America, Europe, Asia-Pacific, and the rest of the world.


Competitive Landscape


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 market of industrial safety.


Key Players


MRFR has identified a few companies as prominent players in the global industrial safety market. These include Emerson Electric Co. (US), Honeywell International, Inc. (US), Rockwell Automation, Inc. (US), ABB Ltd (Switzerland), Schneider Electric SE (France), GENERAL ELECTRIC (US), Yokogawa Electric Corp. (Japan), Hima Paul Hildebrandt GmbH (US), Omron Corporation (Japan), Siemens AG (Germany), Proserv Ingenious Simplicity (UK), Johnson Controls (Ireland), Balluff (US), Euchner (Germany), and Fortress Interlocks (UK). These companies are analyzed on the basis of their geographic presence, origin, products, key developments, and expertise in industrial safety solutions. Apart from the above-mentioned players, Eaton PLC (Ireland), 3M (US), TUSKER INDUSTRIAL SAFETY (UK), W.W. Grainger, Inc. (US), Ceasefire (India), Panduit (US), and DuPont (US) have a significant presence in the global market of industrial safety. Rising demand for safety solutions coupled with the adoption of automation techniques by facilities has encouraged these players to contribute a prominent share in the global market.


Regional Analysis


The global market for industrial safety is estimated to grow significantly 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).


As per MRFR analysis, the North American region dominated the industrial safety market, occupying a share of approximately 30% of the total market. Government initiatives and policies favouring the safety of workers and employees at manufacturing facilities and the emergence of Industry 4.0 have contributed to the adoption of industrial safety systems in this region. On the other hand, the industrial safety market in Asia-Pacific is estimated to witness the highest growth during the forecast period 2019–2024. The region has witnessed a surge in the number of manufacturing other industrial facilities in developing countries including Taiwan and India. The increasing number of industrial facilities is expected to fuel the growth of the industrial safety market in Asia-Pacific.


Key Developments



  • 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.


Intended Audience



  • 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

  • Governments

  • Certification and training firms

  • Regulatory agencies



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 5,290.1 Million
  CAGR   8.2%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Component, Industry Vertical
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Emerson Electric Co. (US), Honeywell International, Inc. (US), Rockwell Automation, Inc. (US), ABB Ltd (Switzerland), Schneider Electric SE (France), GENERAL ELECTRIC (US), Yokogawa Electric Corp. (Japan), Hima Paul Hildebrandt GmbH (US), Omron Corporation (Japan), Siemens AG (Germany), Proserv Ingenious Simplicity (UK), Johnson Controls (Ireland), Balluff (US), Euchner (Germany), and Fortress Interlocks (UK). These companies are analyzed on the basis of their geographic presence, origin, products, key developments, and expertise in industrial safety solutions. Apart from the above-mentioned players, Eaton PLC (Ireland), 3M (US), TUSKER INDUSTRIAL SAFETY (UK), W.W. Grainger, Inc. (US), Ceasefire (India), Panduit (US), and DuPont (US)
  Key Market Opportunities   Advancements in technology and proliferation of industrial IoT by plants and facilities.
  Key Market Drivers

  • The adoption of industrial safety solutions by a number of verticals.
  • The increasing number of industrial facilities.


  • Speak to Analyst Ask for Customization

    Frequently Asked Questions (FAQ) :


    The factors influencing the market are directed towards the lives of workers, which include contact with exposed moving parts, electricity, manual lifting, flying chips or parts, and fire and welding hazards.

    Type, component, vertical are the segments included in the study of the market.

    The market gained a valuation of USD 3,345.3 million in the year 2018

    2020 to 2027 is the stated growth period for the market’s growth.

    North American region led the global industrial safety market with occupying a share of 30% of the total market.