Global Industrial Safety Market (2021 to 2026) - by Systems, End-user Industry, Component and Geography - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Industrial Safety Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The global industrial safety market is expected to grow at a compound annual growth rate of 8.01% over the forecast period to reach a market size of US$7.629 billion in 2026 from US$4.804 billion in 2020.

Industrial safety solutions are those systems and technologies that help the companies to ensure enhanced and automated safety in their plants when some predetermined conditions are violated or any mishappening is about to take place. The market for industrial safety solutions is projected to witness a considerable growth over the forecast period which may be attributed to the burgeoning End-user requirements to enhance the safety of workers as well as to ensure the safety of the company's assets. Furthermore, the stringent government regulations regarding the mandatory requirements towards the installation of safety systems for the protection of workers and machinery is also one of the key factors supplementing the demand for the industrial safety solutions market over the forecast period.

For instance, regulations from the EU Machinery Directives and North America's OSHA standards have further mandated the installation of numerous safety systems which has also played a major role in bolstering the demand for safety solutions in the coming years. On the other hand, the penetration of digital technologies across businesses and the burgeoning penetration of IoT across industries further propels the business growth opportunities for the solution providers over the period of the next five years. Rapid industrialization particularly in the developing economies of the globe such as India, China, and Brazil coupled with the increasing investments by international market players to invest in new facilities across these countries has also created lucrative growth opportunities for the players operating in the market. Thus, also creating a positive impact on the global industrial safety market growth during the given time frame.

The outbreak of COVID-19 is projected to have a negative impact on the market growth in the year 2020 since the pandemic has hit the industries hard in the sense that during the first two-quarters of the year industries faced a sudden downfall in the activities due to a shortage of labor, raw materials due to supply chain disruptions. Also, the temporary closure of the industries in many parts of the world further caused a slump in the demand for various safety solutions since companies held back their investments particularly during the short run. Therefore, having a negative impact on the market growth particularly during a short period of six to eight months.

The global industrial safety market has been segmented on the basis of systems, End-user industry, components, and geography. On the basis of systems, the classification of the market has been done on the basis of process control systems (PCS), safety-shut down systems (SSDS), emergency shut down systems (ESD), and fire and gas systems (FDS). On the basis of the End-user industry, the market has been segmented into oil and gas, healthcare, manufacturing, chemical, and others. By, components, the segmentation of the market is done into hardware and software. Geographically, the global industrial safety market has been distributed into North America, South America, Europe, Middle East and Africa, and the Asia Pacific

Companies Mentioned

• ABB Ltd
• Emerson Electric Co
• Johnson Controls
• Yokogawa Electric Corporation
• Rockwell Automation
• Honeywell International
• General Electric
• Schneider Electric
• Siemens AG
• HIMA Paul Hildebrandt GmbH

Key Topics Covered:

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

2. Research Methodology

2.1. Research Data

2.2. Assumptions

3. Executive Summary

3.1. Research Highlights

4. Market Dynamics

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. Global Industrial Safety Market Analysis, By Systems

5.1. Introduction

5.2. Process Control Systems (PCS)

5.3. Safety Shut-down Systems (SSS)

5.4. Emergency Shutdown- ESD

5.5. Fire and Gas Systems (FGS)

6. Global Industrial Safety Market Analysis, By End-User Industry

6.1. Introduction

6.2. Oil and Gas

6.3. Healthcare

6.4. Manufacturing

6.5. Chemical

6.6. Others

7. Global Industrial Safety Market Analysis, By Component

7.1. Introduction

7.2. Hardware

7.3. Software

8. Global Industrial Safety Market Analysis, by Geography

8.1. Introduction

8.2. North America

8.3. South America

8.4. Europe

8.5. The Middle East and Africa

8.6. Asia Pacific

9. Competitive Environment and Analysis

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. Company Profiles

10.1. ABB Ltd

10.2. Emerson Electric Co

10.3. Johnson Controls

10.4. Yokogawa Electric Corporation

10.5. Rockwell Automation

10.6. Honeywell International

10.7. General Electric

10.8. Schneider Electric

10.9. Siemens AG

10.10. HIMA Paul Hildebrandt GmbH

For more information about this report visit https://www.researchandmarkets.com/r/rq9o5i