Industrial Safety Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Systems [Process Control Systems (PCS), Safety Shut?down Systems (SSS), Emergency Shutdown (ESD), Fire And Gas Systems (FGS)], End-User Industry (Oil And Gas, Healthcare, Manufacturing, Chemical, Others), By Component (Hardware, Software), And By Geography - Forecasts From 2021 To 2026

  • Published : Mar 2022
  • Report Code : KSI061610260
  • Pages : 135

The industrial safety market is projected to witness a compound annual growth rate of 5.44% to grow to US$7.629 billion by 2026, from US$5.265 billion in 2019. Industrial safety solutions are installed to avoid the occurrence of harm causing incidence or reduce the severity of an occurred mishappening in an industrial setup. In an industrial sector, the risk of occurring hazard always prevails owing to high automation, usage of chemicals, and other factors, having the potential to cause harm to human life and financial losses. Industrial safety solutions, hence reduce the chances of loss by industry hazardous and help in facilitating better functioning. The prime reason driving the market demand during the forecast period is robust development in the end users’ industries. Oil and gas, chemicals, and manufacturing are key end-users that are witnessing lucrative growth and are expected to grow at an exponential rate with increased operations. Growing technology and automation complexities in these industries accompanied by rising safety standards by industry and government are expected to support the market growth. Furthermore, rapid industrialization across developing countries with a growing industry sector is projected to provide opportunities for the market.

Robust growth across the end-users industry

One of the prime reasons for augmenting the industrial safety solutions demand is the robust growth across the end-users industry, especially manufacturing, healthcare, and oil and gas industries. With increased industrialization in developing countries, the manufacturing sector is projected to witness robust growth. In the Asia Pacific region, countries like India, Thailand, South Korea, Vietnam, and Cambodia have been emerging as manufacturing hubs which have provided robust scope for industrial safety systems. The oil and gas industry is also expected to witness robust growth with surging demand. A report published by International Energy Agency (IEA) estimates that global oil consumption will reach 104.1 mb/d by 2026, a rise of 4.4 mb/d from 2019. Rise consumption is expected to be supported by an increase in production of oil and gas, through expansion of existing fields and operations through new fields. Industrial safety systems are an intramural part of these projects since the industry is prone to severe hazards. Growth in projects is expected to create significant demand for the market.

COVID-19 Insights

The coronavirus pandemic negatively impacted the industrial safety market. Containment measures included a nationwide lockdown and a halt across various end users’ industries, including the construction of new industrial units and projects. Social distancing measures included operations with a lower capacity of labour, delaying the operations and hence demand. Furthermore, the physical shutdown resulted in disruption of the supply chain, delaying the projects. IEA data shows that the overall industry growth has lowered which will take time to recover. Oil demand for 2025 is expected to be lower in comparison with the no-covid forecast, by 2.5 mb/d. However, the industries are expected to resume at previous capacities with the recovery of economic activities.

The industrial safety market has been significantly hit by the COVID-19 pandemic. The effects of the COVID-19 pandemic, including actions taken by businesses and governments to contain the spread of the virus, have resulted in a significant reduction in international economic activity. Geopolitical events triggering the increase in the supply of low-priced oil in the market happened at the same time. COVID-19 restrictions caused major disruptions in the industry activity.

Industrial Safety Market Scope:

Report Metric Details
 Market size value in 2019  US$5.265 billion
 Market size value in 2026  US$7.629 billion
 Growth Rate  CAGR of 5.44% from 2019 to 2026
 Base year  2019
 Forecast period  2021–2026
 Forecast Unit (Value)  USD Billion
 Segments covered  Systems, End-User Industry, Component, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered ABB Ltd, Emerson Electric Co, Johnson Controls, Yokogawa Electric Corporation, Rockwell Automation, Honeywell International, General Electric, Schneider Electric, Siemens AG, HIMA Paul Hildebrandt GmbH
 Customization scope  Free report customization with purchase


Market Segmentation:

    • Process Control System (PCS)
    • Safety Shutdown System (SSS)
    • Emergency Shutdown System (ESS)
    • Fire and Gas System (FGS)
    • Others
    • Oil and Gas
    • Healthcare
    • Manufacturing
    • Chemical
    • Others
    • Hardware
    • Software
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Italy
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Africa
      • Saudi Arabia
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Taiwan
      • Indonesia
      • Others

Frequently Asked Questions (FAQs)

Q1. What will be the industrial safety market size by 2026?
A1. The global industrial safety market is expected to reach a total market size of US$7.629 billion in 2026.

Q2. What is the size of the industrial safety market?
A2. Industrial Safety Market was valued at US$5.265 billion in 2019.

Q3. What are the growth prospects for the industrial safety market?
A3. The global industrial safety market is expected to grow at a CAGR of 5.44% over the forecast period.

Q4. Which region holds the largest market share in the industrial safety market?
A4. By region, the North American region is anticipated to hold a healthy share in the industrial safety market which may be attributed to the early adoption of technology in countries like the United States of America and Canada.

Q5. What factors are anticipated to drive the industrial safety market growth?
A5. The market for industrial safety solutions will be majorly driven by the growing adoption of automation solutions by various industries to enhance safety and control by also ensuring maximum output at minimal costs.

1.1. Market Overview
1.2. Covid-19 Scenario
1.3. Market Definition
1.4. Market Segmentation

2.1. Research Data
2.2. Secondary Sources

3.1. Key Highlights 

4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Powers of Buyers
4.3.3. Threat of Substitutes
4.3.4. The Threat of New Entrants
4.3.5. Competitive Rivalry in Industry
4.4. Industry Value Chain Analysis

5.1. Introduction
5.2. Process Control System (PCS)
5.3. Safety Shutdown System (SSS)
5.4. Emergency Shutdown System (ESS)
5.5. Fire and Gas System (FGS)
5.6. Others

6.1. Introduction
6.2. Oil and Gas
6.3. Healthcare
6.4. Manufacturing
6.5. Chemical
6.6. Others 

7.1. Introduction 
7.2. Hardware
7.3. Software 

8.1. Introduction
8.2. North America
8.2.1. North America Industrial Safety Market, By System
8.2.2. North America Industrial Safety Market, By End Users
8.2.3. North America Industrial Safety Market, By Component
8.2.4. By Country United States Canada Mexico
8.3. South America
8.3.1. South America Industrial Safety Market, By System
8.3.2. South America Industrial Safety Market, By End Users
8.3.3. South America Industrial Safety Market, By Component
8.3.4. By Country Brazil Argentina Others
8.4. Europe
8.4.1. Europe Industrial Safety Market, By System
8.4.2. Europe Industrial Safety Market, By End Users
8.4.3. Europe Industrial Safety Market, By Component
8.4.4. By Country Germany Spain United Kingdom France Others
8.5. The Middle East and Africa
8.5.1. Middle East and Africa Industrial Safety Market, By System
8.5.2. Middle East and Africa Industrial Safety Market, By End Users
8.5.3. Middle East and Africa Industrial Safety Market, By Component
8.5.4. By Country Saudi Arabia South Africa Others
8.6. Asia Pacific
8.6.1. Asia Pacific Industrial Safety Market, By System
8.6.2. Asia Pacific Industrial Safety Market, By End Users
8.6.3. Asia Pacific Industrial Safety Market, By Component
8.6.4. By Country India China Japan South Korea Thailand Taiwan Indonesia Others

9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrative
9.3. Mergers, Acquisition, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix

10.1. ABB
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


Emerson Electric Co

Johnson Controls

Yokogawa Electric Corporation

Rockwell Automation

Honeywell International

General Electric

Schneider Electric

Siemens AG

HIMA Paul Hildebrandt GmbH