Industrial safety is defined as a set of methods and management techniques used within an industry in order to minimize the number of accidents, risks and occupational hazards associated with the improper usage of machinery for the safety of employees.
According to the report,the industrial safety market is projected to expand at an impressive CAGR of 7.72% over the forecast period 2018-2024. The Industrial Safety Market is expected to surge over the coming years due to the strict government regulations and policies, which govern how the operations in the industry should be conducted, need to be complied with, which is forcing the industries to use these advanced safety devices for the proper safety of the employees.
The industrial safety market has been segmented as product, component, end-user industry, and geography. By product, Fire and gas monitoring and control is expected to hold a significant amount of share in the market owing to the burgeoning demand for these safety solutions from the growing oil and gas industry. Emergency shutdown systems is also expected to hold a considerable amount of share in the market which can be attributed to the ability of these systems to reduce the chances of injury and hazards to the employees by cutting the power to the machinery and preventing the escalation of events in case it goes above the rated operating limits. By Component, safety sensors are estimated to hold a notable share in the market owing to the ability of these sensors to timely alert the worker or technician in case of a possible hazard. Also, Programmable safety systems are poised to hold a good growth potential over the forecast period as they are flexible, easy to configure and are efficient and cost-effective solutions. These factors will also play a role in boosting the demand for industrial safety and thus contribute to the market growth. Furthermore, the research being conducted by market players to improve and enhance the industrial safety will continue to drive the industrial safety market in the coming years.
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Some of the major players covered as part of the report are TYCO, Yokogawa Electric, Rockwell Automation, Honeywell International, General Electric, ABB, Emerson Electric, HIMA Paul Hildebrandt, Schneider Electric and Siemens
This report segmented the industrial safety market on the basis following terms
- Fire And Gas Monitoring And Control
- Burner Management Systems
- Turbomachinery Control
- High Integrity Pressure Protection Systems
- Emergency Shutdown Systems
- Safety Sensors
- Safety Controllers/Module/Relays
- Emergency Stop Devices, Safety Switches
- Programmable Safety Systems
By End-User Industry
- Oil And Gas
- Power Generation
- Paper And Pulp
- Energy And Power
- United Kingdom
Middle East and Africa
- Saudi Arabia
- North America