Industrial Safety Market

Industrial Safety Market by Component (Presence Sensing Safety Sensors, Safety Controllers, Programmable Safety Systems), Industry (Energy & Power, Automotive, Oil & Gas) and Region (2022-2027)

Report Code: SE 3294 Mar, 2022, by marketsandmarkets.com

[213 Pages Report] The industrial safety market is projected to grow from USD 6.3 billion in 2022 to USD 8.8 billion by 2027; it is expected to grow at a CAGR of 6.8% from 2022 to 2027. The growth of the industrial safety market is driven by the high requirement for reliable safety systems to ensure personal and asset protection, and strict mandates for safety regulations.

Industrial Safety Market

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COVID-19 impact on the industrial safety market

The COVID-19 pandemic has affected the oil & gas industry badly, with oil prices slashing drastically. The major decline in the demand of oil and gas due to various restrictions imposed by governments worldwide in 2020 resulted in a huge gap between the supply and demand. Oil & gas is one of the key industries requires safety systems and components. Chemicals and energy & power industries are also among the key end users of valves; these industries also witnessed reduced demand due to the global pandemic. There were restrictions on foreign trades due to the lockdown of international borders, non-operational distribution channels, and various precautionary measures undertaken for public health and safety. However, an increase in demand from the energy & power sector is likely to drive the industrial safety market for the energy & power end-user industry gradually from 2022 to 2027.

The business for safety systems specific to the pharmaceuticals end-user industry is less affected than other industries. Pharmaceutical companies need better control over operational excellence to be in line with the innovations taking place in the industry. Maintaining a safe, consistent, and efficient manufacturing process is the basic requirement to ensure the highest quality of products. The growing cost pressures, regulatory and safety guidelines, and increasingly diverse product portfolios are among a few of the challenges faced by this industry. Hence, prompt control and monitoring of production processes are necessary. Safety system enables the processes to function according to the regulatory safety standards and deliver maximum output with utmost safety. Therefore, the use of safety systems and components has helped pharmaceuticals companies eliminate process constraints, such as contamination, dead space, leakages, crystallization, fire safety, and temperature measurement.

Market Dynamics

Driver: Strict mandates for safety regulations

Mandates for safety regulations play a significant role in the growth of the industrial safety market. The US government and governments of countries in Europe are undertaking constructive measures to prevent accidents by enforcing regulations related to personnel and process safety and installing certified equipment, including explosion-proof sensors, switches, and actuators in hazardous locations. However, organizations such as Occupational Safety and Health Administration (OSHA), International Electrotechnical Commission (IEC), International Standard Organization (ISO), and American National Standards Institute (ANSI) have implemented safety standards and regulatory measures to monitor and enhance the efficiency of industrial processes. Machine safety regulations, such as EU Machinery Directives and North America’s OSHA regulations, have helped drive the growth of the industrial safety product market.

Restraint: High investments required for automation and installing industrial safety systems

Industrial safety systems are required to be installed as a safety measure for safeguarding employees, machines, and production lines in an emergency situation. The price of industrial safety components, installation cost, and maintenance and repair costs put a substantial burden on the organizational budget. Though large organizations can manage these expenses, it can be difficult for small and medium-sized organizations. In addition, industrial safety has to comply with regulatory standards. The safety standards are frequently updated according to the technological advancements and new mandates, resulting in the obligation on organizations to upgrade their safety systems. This upgrading requires additional investments in safety components and systems. Therefore, this factor acts as a restraint, especially for small and medium-scale industries.

Opportunity: Increasing usage of Industrial Internet of Things

IIoT is creating new opportunities for integrated safety and compliance services. IIoT can acquire data from sensors that measure pressure, level, flow, temperature, and vibration, and send this collected information to monitoring systems. The data is transmitted through wired and wireless networks that provide real-time analysis, alerts, and possible solutions in case of any emergency situation. Using IIoT, companies can integrate their processes with safety systems and can monitor the same in real-time. IIoT facilitates quick monitoring, analysis, and control, offering virtual management of physical systems, which ultimately results in performance improvement. With the increasing adoption of IIoT, the demand for industrial safety is expected to grow during the forecast period.

Challenge: Failure to access all machinery-related risks

Complete machine guarding requires risk assessment that considers inputs not only from guard designers, but also from machine operators, maintenance personnel, supervisors, engineers, safety professionals, machine guarding experts, and original equipment manufacturer (OEM) representatives. It is difficult for a designer to independently anticipate all potential hazards associated with equipment setup, operation, inspection, and maintenance. Comprehensive planning and execution are required in situations where workers need to access areas inside machine guards. Insufficient risk assessment can also overlook important requirements regarding the design and performance of interlock devices and monitoring components such as relays, safety-rated programmable logic controllers, which are used for protection while performing alternative safeguarding measures.

The presence sensing safety sensors component of the industrial safety market is projected to hold the largest market share of industrial safety market from 2022 to 2027.

The presence sensing sensor market is expected to hold the largest market share owing to the need for security requirements for protecting workers and production units from any accidents mandated by the strict industrial safety regulations based on the national and international standards. Moreover, the factors such as the rise in industrial revolution 4.0, increasing need for safety light curtains in the packaging industry powered by robotics, and rising incidents of accidents in industries are driving the demand for presence sensing safety sensors of industrial safety market.

The industrial safety market for food & beverages industry is projected to grow at the highest CAGR during the forecast period.

The food & beverages segment is expected to grow at the highest CAGR during the forecast period. As regulations and regulations are becoming more stringent, there is an upsurge in demand for industrial safety systems to achieve safe and efficient operations in food & beverage manufacturing plants. The food & beverages industry strives to achieve high quality and consistent production at a low cost. This can be achieved by making food & beverages plants more safe, flexible, and profitable by choosing an integrated approach of automated safety control systems such as industrial safety solutions. The safety systems help in achieving greater operation transparency across production lines and reduction of compliance costs through timely corrective actions.

The industrial safety market in APAC is projected to hold the largest share throughout the forecast period.

APAC is expected to dominate the global industrial safety market during the forecast period owing to increasing industrialization in emerging economies such as China and India. China and India have already adopted industrial safety in various processes such as oil & gas and power generation. The adoption of safety automation solutions in manufacturing industries in this region is increasing significantly with rapid industrialization, thereby contributing to market growth.

Industrial Safety Market by Region

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Key Market Players

The industrial safety players have implemented various types of organic as well as inorganic growth strategies, such as new product launches, acquisitions, and agreements, to strengthen their offerings in the market. The major players are Schneider Electric SE (France), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), Emerson Electric Co. (US), Baker Hughes (US), HIMA (Germany), Yokogawa Electric Corp. (Japan), and Omron Corporation (Japan) were the major players in the industrial safety market.

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Scope of the Report

Report Metric

Detail

Market Size Availability for Years

2018–2027

Base Year

2021

Forecast Period

2022–2027

Forecast Units

Value (USD)

Segments Covered

By type, component, and industry

Geographies Covered

North America, Europe, APAC, and RoW

Companies Covered

Schneider Electric SE (France), Honeywell International Inc. (US), ABB Ltd. (Switzerland), Rockwell Automation, Inc. (US), Siemens AG (Germany), Emerson Electric Co. (US), Baker Hughes (US), HIMA (Germany), Yokogawa Electric Corp. (Japan), and Omron Corporation (Japan) are the key players in the industrial safety market.

A total of 25 players are covered.

This research report categorizes the industrial safety market, by type, component, industry, and region

By Type:

  • Machine Safety
  • Worker Safety

By Component:

  • Presence Sensing Safety Sensors
  • Safety Controllers/ Modules/ Relays
  • Programmable Safety Systems
  • Safety Interlock Switches
  • Emergency Stop Controls
  • Two-Hand Safety Controls
  • Others

By Industry:

  • Oil & Gas
  • Energy & Power
  • Chemicals
  • Food & Beverages
  • Aerospace & Defense
  • Automotive
  • Semiconductor
  • Healthcare & Pharmaceuticals
  • Metals & Mining
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Denmark
    • Finland
    • Norway
    • RoE
  • Asia Pacific (APAC)
    • China
    • Japan
    • India
    • South Korea
    • Rest of APAC
  • Rest of the World (RoW)
    • Middle East and Africa
    • South America

The study includes an in-depth competitive analysis of these key players in the industrial safety market with their company profiles, recent developments, and key market strategies.

Recent Developments

  • In December 2021, Honeywell International inc. announced that it is set to acquire US Digital Design Inc., a privately held fire department equipment supplying company. The acquisition will integrate US Digital Design’s business into Honeywell’s Fire and Connected Life Safety Systems business (under Honeywell Building Technologies) and will expand Honeywell’s line of solutions for public safety communications.
  • In November 2021, Compressor Controls LLC and Yokogawa Electric Corporation announced that they had concluded a commercial agreement to sell a jointly developed solution that integrates Yokogawa’s process control technology and CCC’s turbomachinery control technology.
  • In October 2021, Emerson acquired a 55% stake in AspenTech. Through this approach, the company will move forward in developing its software solutions portfolio.
  • In September 2021, Siemens launched SITRANS IQ, a new digitalization portfolio designed to monitor critical measurement points to complete asset management covering instrumentation for multiple plants.
  • In September 2021, Yokogawa upgraded its Exaquantum Safety Function Monitoring (SFM) software, a solution to identify whether actual operating performance meets safety design targets.

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 28)
    1.1 STUDY OBJECTIVES
    1.2 MARKET DEFINITION AND SCOPE
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 STUDY SCOPE
           1.3.1 MARKETS COVERED
           1.3.2 GEOGRAPHIC SCOPE
                    FIGURE 1 INDUSTRIAL SAFETY MARKET: GEOGRAPHIC SEGMENTATION
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY
    1.5 LIMITATIONS
    1.6 STAKEHOLDERS
    1.7 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 33)
    2.1 RESEARCH DATA
           FIGURE 2 INDUSTRIAL SAFETY MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY & PRIMARY RESEARCH
           2.1.2 SECONDARY DATA
                    2.1.2.1 Major secondary sources
                    2.1.2.2 Secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Breakdown of primaries
                    2.1.3.2 Key data from primary sources
                    2.1.3.3 Key industry insights
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    2.2.1.1 Approach for arriving at market share by bottom-up analysis (demand side)
                               FIGURE 3 INDUSTRIAL SAFETY MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    2.2.2.1 Approach for capturing market share by top-down analysis (supply side)
                               FIGURE 4 INDUSTRIAL SAFETY MARKET: TOP-DOWN APPROACH
                               FIGURE 5 INDUSTRIAL SAFETY MARKET: SUPPLY-SIDE APPROACH
    2.3 MARKET BREAKDOWN & DATA TRIANGULATION
           FIGURE 6 DATA TRIANGULATION
    2.4 RESEARCH ASSUMPTIONS
    2.5 RISK ASSESSMENT
           TABLE 1 LIMITATIONS AND ASSOCIATED RISKS

3 EXECUTIVE SUMMARY (Page No. - 42)
    FIGURE 7 INDUSTRIAL SAFETY MARKET, 2018–2027 (USD MILLION)
    FIGURE 8 MARKET FOR PROGRAMMABLE SAFETY SYSTEMS TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
    FIGURE 9 ENERGY & POWER TO ACCOUNT FOR LARGEST MARKET SIZE FROM 2022 TO 2027
    FIGURE 10 APAC IS EXPECTED TO HOLD LARGEST SHARE OF INDUSTRIAL SAFETY MARKET THROUGHOUT FORECAST PERIOD

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 ATTRACTIVE GROWTH OPPORTUNITIES IN INDUSTRIAL SAFETY MARKET
           FIGURE 11 MANDATES FOR SAFETY AND RISING DEMAND FOR SAFETY SYSTEMS IN OIL & GAS INDUSTRY TO BOOST MARKET GROWTH
    4.2 INDUSTRIAL SAFETY MARKET, BY TYPE
           FIGURE 12 MACHINE SAFETY TO HOLD LARGER SIZE OF INDUSTRIAL SAFETY MARKET IN 2027
    4.3 INDUSTRIAL MACHINE SAFETY MARKET, BY COMPONENT
           FIGURE 13 PRESENCE SENSING SAFETY SENSORS TO HOLD LARGEST SIZE OF INDUSTRIAL SAFETY MARKET IN 2027
    4.4 INDUSTRIAL SAFETY MARKET, BY INDUSTRY
           FIGURE 14 AUTOMOTIVE TO HOLD LARGEST SIZE OF INDUSTRIAL SAFETY MARKET IN 2022
    4.5 INDUSTRIAL SAFETY MARKET, BY COUNTRY
           FIGURE 15 US TO HOLD LARGEST SIZE OF INDUSTRIAL SAFETY MARKET IN 2027

5 MARKET OVERVIEW (Page No. - 49)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
           FIGURE 16 INDUSTRIAL SAFETY MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 High requirement for reliable safety systems to ensure personnel and asset protection
                    5.2.1.2 Strict mandates for safety regulations
                    5.2.1.3 Rapidly growing oil & gas industry driving adoption of industrial safety systems
                               FIGURE 17 INDUSTRIAL SAFETY MARKET: IMPACT ANALYSIS OF DRIVERS
           5.2.2 RESTRAINTS
                    5.2.2.1 High investments required for automation and installing industrial safety systems
                    5.2.2.2 Lack of awareness and complexity of standards
                               FIGURE 18 INDUSTRIAL SAFETY MARKET: IMPACT ANALYSIS OF RESTRAINTS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Growing acceptance of workplace safety standards in emerging economies
                    5.2.3.2 Increasing usage of Industrial Internet of Things
                               FIGURE 19 INDUSTRIAL SAFETY MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
           5.2.4 CHALLENGES
                    5.2.4.1 Failure to access all machinery-related risks
                    5.2.4.2 Local manufacturers offering low-priced industrial safety systems
                               FIGURE 20 INDUSTRIAL SAFETY MARKET: IMPACT ANALYSIS OF CHALLENGES
    5.3 VALUE CHAIN ANALYSIS
           FIGURE 21 RAW MATERIAL AND COMPONENT SUPPLIERS AND ORIGINAL EQUIPMENT MANUFACTURERS COLLECTIVELY ADD MAJOR VALUE TO FINAL PRODUCT
    5.4 TECHNOLOGY ANALYSIS
           5.4.1 COMPUTER VISION
           5.4.2 AUTOMATED MACHINE LEARNING
           5.4.3 INTERNET OF THINGS
           5.4.4 VIRTUAL REALITY
    5.5 ECOSYSTEM ANALYSIS
           FIGURE 22 INDUSTRIAL SAFETY MARKET: ECOSYSTEM
           TABLE 2 INDUSTRIAL SAFETY MARKET: ECOSYSTEM
    5.6 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS
    5.7 CASE STUDIES
           5.7.1 NEW WAYS TO ENHANCE WATER CUTTER SAFETY
           5.7.2 ALTINTEL USED SMART WIRELESS TANKRADAR TO IMPROVE SAFETY
           5.7.3 ULRASONIC DETECTION OF GAS LEAKS IN AMMONIA PLANT FOR FERTILIZER MANUFACTURING
    5.8 PRICING ANALYSIS
           TABLE 3 AVERAGE SELLING PRICES OF COMPONENTS OF INDUSTRIAL SAFETY SYSTEMS OFFERED BY TOP COMPANIES, 2021
           TABLE 4 INDICATIVE PRICES OF COMPONENTS OF INDUSTRIAL SAFETY SYSTEMS
           5.8.1 AVERAGE SELLING PRICES OF COMPONENTS OFFERED BY KEY PLAYERS
                    FIGURE 23 AVERAGE SELLING PRICES OF COMPONENTS OFFERED BY KEY PLAYERS
                    TABLE 5 AVERAGE SELLING PRICES OF COMPONENTS OFFERED BY KEY PLAYERS (USD)
    5.9 PORTER’S FIVE FORCES ANALYSIS
           TABLE 6 IMPACT OF PORTER’S FIVE FORCES ON INDUSTRIAL SAFETY MARKET, 2021
    5.10 KEY STAKEHOLDERS & BUYING CRITERIA
           5.10.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 24 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 INDUSTRIES
                    TABLE 7 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 INDUSTRIES (%)
           5.10.2 BUYING CRITERIA
                    FIGURE 25 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
                    TABLE 8 KEY BUYING CRITERIA FOR TOP 3 INDUSTRIES
    5.11 TRADE ANALYSIS
                    FIGURE 26 IMPORT DATA, BY COUNTRY, 2016–2020 (USD MILLION)
                    FIGURE 27 EXPORT DATA, BY COUNTRY, 2016–2020 (USD MILLION)
           5.11.1 PATENTS ANALYSIS
                    FIGURE 28 NUMBER OF PATENTS GRANTED PER YEAR FROM 2012 TO 2021
                    FIGURE 29 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
                    TABLE 9 TOP 20 PATENT OWNERS IN LAST 10 YEARS
                    TABLE 10 LIST OF FEW PATENTS IN INDUSTRIAL SAFETY MARKET, 2020–2021
    5.12 KEY CONFERENCES & EVENTS IN 2022-2023
                    TABLE 11 INDUSTRIAL SAFETY MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.13 REGULATIONS AND STANDARDS
                    TABLE 12 REGULATIONS AND STANDARDS FOR INDUSTRIAL SAFETY
    5.14 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 13 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 14 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 15 ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 16 REST OF WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS

6 INDUSTRIAL SAFETY MARKET, BY TYPE (Page No. - 71)
    6.1 INTRODUCTION
           FIGURE 30 INDUSTRIAL SAFETY MARKET, BY TYPE
           TABLE 17 INDUSTRIAL SAFETY MARKET, BY TYPE, 2018–2021 (USD MILLION)
           TABLE 18 INDUSTRIAL SAFETY MARKET, BY TYPE, 2022–2027 (USD MILLION)
    6.2 MACHINE SAFETY
           6.2.1 MACHINE SAFETY SYSTEMS ENABLE SAFETY OF PLANT ASSET AND PERSONNEL
                    TABLE 19 INDUSTRIAL MACHINE SAFETY MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 20 INDUSTRIAL MACHINE SAFETY MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
                    TABLE 21 INDUSTRIAL MACHINE SAFETY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 22 INDUSTRIAL MACHINE SAFETY MARKET, BY REGION, 2022–2027 (USD MILLION)
    6.3 WORKER SAFETY
           6.3.1 SMART WORKER SAFETY SOLUTIONS TO DRIVE INDUSTRIAL WORKER SAFETY MARKET
                    TABLE 23 INDUSTRIAL WORKER SAFETY MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 24 INDUSTRIAL WORKER SAFETY MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
                    TABLE 25 INDUSTRIAL WORKER SAFETY MARKET, BY REGION, 2018–2021 (USD MILLION)
                    TABLE 26 INDUSTRIAL WORKER SAFETY MARKET, BY REGION, 2022–2027 (USD MILLION)

7 INDUSTRIAL SAFETY MARKET, BY COMPONENT (Page No. - 77)
    7.1 INTRODUCTION
           FIGURE 31 PRESENCE SENSING SAFETY SENSORS TO DOMINATE INDUSTRIAL SAFETY MARKET THROUGHOUT FORECAST PERIOD
           TABLE 27 INDUSTRIAL MACHINE SAFETY MARKET, BY COMPONENT, 2018–2021 (USD MILLION)
           TABLE 28 INDUSTRIAL MACHINE SAFETY MARKET, BY COMPONENT, 2022–2027 (USD MILLION)
    7.2 PRESENCE SENSING SAFETY SENSORS
           7.2.1 SAFETY SENSORS HOLD LARGEST SHARE OF INDUSTRIAL SAFETY MARKET
                    TABLE 29 PRESENCE SENSING SAFETY SENSORS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 30 PRESENCE SENSING SAFETY SENSORS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.3 PROGRAMMABLE SAFETY SYSTEMS
           7.3.1 MARKET FOR PROGRAMMABLE SAFETY SYSTEMS TO GROW AT HIGHEST RATE DURING FORECAST PERIOD
                    TABLE 31 PROGRAMMABLE SAFETY SYSTEMS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 32 PROGRAMMABLE SAFETY SYSTEMS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.4 SAFETY CONTROLLERS/MODULES/RELAYS
           7.4.1 SAFETY CONTROLLERS/MODULES/RELAYS ARE USED TO SHUT DOWN EQUIPMENT IN CASE OF ANY EMERGENCY
                    TABLE 33 SAFETY CONTROLLERS/MODULES/RELAYS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 34 SAFETY CONTROLLERS/MODULES/RELAYS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.5 SAFETY INTERLOCK SWITCHES
           7.5.1 SAFETY INTERLOCK SWITCHES ARE USED TO PROTECT EQUIPMENT AND USERS DURING HAZARDOUS SITUATIONS
                    TABLE 35 SAFETY INTERLOCK SWITCHES MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 36 SAFETY INTERLOCK SWITCHES MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.6 EMERGENCY STOP CONTROLS
           7.6.1 EMERGENCY STOP CONTROLS HAVE WIDE RANGE OF SAFETY APPLICATIONS IN INDUSTRIES
                    TABLE 37 EMERGENCY STOP CONTROLS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 38 EMERGENCY STOP CONTROLS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.7 TWO-HAND SAFETY CONTROLS
           7.7.1 DEMAND FOR TWO-HAND SAFETY FOR POWER GENERATION INDUSTRIES TO CONTINUE TO RISE IN FUTURE
                    TABLE 39 TWO-HAND SAFETY CONTROLS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
                    TABLE 40 TWO-HAND SAFETY CONTROLS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
    7.8 OTHERS
           TABLE 41 OTHER COMPONENTS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
           TABLE 42 OTHER COMPONENTS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)

8 INDUSTRIAL SAFETY SYSTEMS (Page No. - 91)
    8.1 INTRODUCTION
    8.2 EMERGENCY SHUTDOWN SYSTEM (ESD)
           8.2.1 EMERGENCY SHUTDOWN SYSTEMS OFFER QUICK SHUTDOWN CAPABILITIES IN HAZARDOUS SITUATIONS
    8.3 HIGH-INTEGRITY PRESSURE PROTECTION SYSTEM (HIPPS)
           8.3.1 HIPPS PLAYS VITAL ROLE IN PROTECTING EQUIPMENT FROM OVER-PRESSURIZATION SITUATIONS
    8.4 BURNER MANAGEMENT SYSTEM (BMS)
           8.4.1 BMS HELPS IN RELIABLE MONITORING, OPERATIONS, AND MAINTENANCE OF ALL ASSETS IN PLANTS
    8.5 FIRE & GAS MONITORING SYSTEM
           8.5.1 FIRE & GAS MONITORING SYSTEMS MAINLY USED TO PREVENT AND LOWER AFTER EFFECTS OF FIRE ACCIDENTS
    8.6 TURBOMACHINERY CONTROL SYSTEM (TMC)
           8.6.1 TMC PROVIDES TIGHT CONTROL OVER SPEED OF STEAM, HYDRO, AND GAS TURBINES

9 IMPLEMENTATION TYPES OF INDUSTRIAL SAFETY COMPONENTS (Page No. - 94)
    9.1 INTRODUCTION
           FIGURE 32 INDIVIDUAL COMPONENTS LED INDUSTRIAL SAFETY MARKET IN 2021
    9.2 INDIVIDUAL COMPONENTS
           9.2.1 INDIVIDUAL COMPONENTS ARE EASY TO INTEGRATE AND CONTROL
    9.3 EMBEDDED COMPONENTS
           9.3.1 EMBEDDED COMPONENTS OFFER BETTER PERFORMANCE AND ADVANCED SAFETY FOR INDUSTRIAL MACHINES

10 INDUSTRIAL SAFETY MARKET, BY INDUSTRY (Page No. - 96)
     10.1 INTRODUCTION
               FIGURE 33 INDUSTRIAL SAFETY MARKET, BY INDUSTRY
               TABLE 43 INDUSTRIAL SAFETY MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 44 INDUSTRIAL SAFETY MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
     10.2 OIL & GAS
             10.2.1 INDUSTRIAL SAFETY COMPONENTS AND SYSTEM IN OIL & GAS INDUSTRY REDUCES RISK OF EMERGENCY SHUTDOWNS
                       TABLE 45 INDUSTRIAL MACHINE SAFETY MARKET FOR OIL & GAS, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 46 INDUSTRIAL MACHINE SAFETY MARKET FOR OIL & GAS, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 47 INDUSTRIAL MACHINE SAFETY MARKET FOR OIL & GAS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 48 INDUSTRIAL MACHINE SAFETY MARKET FOR OIL & GAS, BY REGION, 2022–2027 (USD MILLION)
     10.3 ENERGY & POWER
             10.3.1 POWER INDUSTRY USES INDUSTRIAL SAFETY SYSTEMS TO PROTECT PLANTS FROM HAZARDS
                       TABLE 49 INDUSTRIAL MACHINE SAFETY MARKET FOR ENERGY & POWER, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 50 INDUSTRIAL MACHINE SAFETY MARKET FOR ENERGY & POWER, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 51 INDUSTRIAL MACHINE SAFETY MARKET FOR ENERGY & POWER, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 52 INDUSTRIAL MACHINE SAFETY MARKET FOR ENERGY & POWER, BY REGION, 2022–2027 (USD MILLION)
     10.4 CHEMICALS
             10.4.1 DEMAND FOR SAFETY AND RELIABILITY IN CHEMICALS INDUSTRY TO PROPEL MARKET GROWTH
                       TABLE 53 INDUSTRIAL MACHINE SAFETY MARKET FOR CHEMICALS, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 54 INDUSTRIAL MACHINE SAFETY MARKET FOR CHEMICALS, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 55 INDUSTRIAL MACHINE SAFETY MARKET FOR CHEMICALS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 56 INDUSTRIAL MACHINE SAFETY MARKET FOR CHEMICALS, BY REGION, 2022–2027 (USD MILLION)
     10.5 FOOD & BEVERAGES
             10.5.1 SAFETY SYSTEMS ARE WIDELY ADOPTED BY FOOD & BEVERAGES INDUSTRY TO INCREASE PRODUCTION PRECISION AND FLEXIBILITY
                       TABLE 57 INDUSTRIAL MACHINE SAFETY MARKET FOR FOOD & BEVERAGES, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 58 INDUSTRIAL MACHINE SAFETY MARKET FOR FOOD & BEVERAGES, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 59 INDUSTRIAL MACHINE SAFETY MARKET FOR FOOD & BEVERAGES, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 60 INDUSTRIAL MACHINE SAFETY MARKET FOR FOOD & BEVERAGES, BY REGION, 2022–2027 (USD MILLION)
     10.6 AEROSPACE
             10.6.1 AEROSPACE INDUSTRY ADOPTS INDUSTRIAL SAFETY TO INCREASE PRODUCTION PRECISION AND FLEXIBILITY
                       TABLE 61 INDUSTRIAL MACHINE SAFETY MARKET FOR AEROSPACE, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 62 INDUSTRIAL MACHINE SAFETY MARKET FOR AEROSPACE, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 63 INDUSTRIAL MACHINE SAFETY MARKET FOR AEROSPACE, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 64 INDUSTRIAL MACHINE SAFETY MARKET FOR AEROSPACE, BY REGION, 2022–2027 (USD MILLION)
     10.7 AUTOMOTIVE
             10.7.1 AUTOMOTIVE INDUSTRY PRIMARILY EMPLOYS INDUSTRIAL SAFETY FOR ASSEMBLING/DISASSEMBLING, PRESSING, AND MATERIAL HANDLING
                       TABLE 65 INDUSTRIAL MACHINE SAFETY MARKET FOR AUTOMOTIVE, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 66 INDUSTRIAL MACHINE SAFETY MARKET FOR AUTOMOTIVE, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 67 INDUSTRIAL MACHINE SAFETY MARKET FOR AUTOMOTIVE, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 68 INDUSTRIAL MACHINE SAFETY MARKET FOR AUTOMOTIVE, BY REGION, 2022–2027 (USD MILLION)
     10.8 SEMICONDUCTORS
             10.8.1 SEMICONDUCTORS INDUSTRY USES INDUSTRIAL SAFETY EQUIPMENT TO ENSURE WORKER AND ASSET PROTECTION
                       TABLE 69 INDUSTRIAL MACHINE SAFETY MARKET FOR SEMICONDUCTORS, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 70 INDUSTRIAL MACHINE SAFETY MARKET FOR SEMICONDUCTORS, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 71 INDUSTRIAL MACHINE SAFETY MARKET FOR SEMICONDUCTORS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 72 INDUSTRIAL MACHINE SAFETY MARKET FOR SEMICONDUCTORS, BY REGION, 2022–2027 (USD MILLION)
     10.9 HEALTHCARE & PHARMACEUTICALS
             10.9.1 PHARMACEUTICAL COMPANIES IMPLEMENT INDUSTRIAL SAFETY TO PREVENT POTENTIAL HAZARDS
                       TABLE 73 INDUSTRIAL MACHINE SAFETY MARKET FOR HEALTHCARE & PHARMACEUTICALS, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 74 INDUSTRIAL MACHINE SAFETY MARKET FOR HEALTHCARE & PHARMACEUTICALS, BY COMPONENTS, 2022–2027 (USD MILLION)
                       TABLE 75 INDUSTRIAL MACHINE SAFETY MARKET FOR HEALTHCARE & PHARMACEUTICALS, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 76 INDUSTRIAL MACHINE SAFETY MARKET FOR HEALTHCARE & PHARMACEUTICALS, BY REGION, 2022–2027 (USD MILLION)
     10.10 METALS & MINING
               10.10.1 STRINGENT RULES AND REGULATIONS PERTAINING TO METALS & MINING INDUSTRY BOOST ADOPTION OF INDUSTRIAL SAFETY SYSTEMS
                                   TABLE 77 INDUSTRIAL MACHINE SAFETY MARKET FOR METALS & MINING, BY COMPONENT, 2018–2021 (USD MILLION)
                                   TABLE 78 INDUSTRIAL MACHINE SAFETY MARKET FOR METALS & MINING, BY COMPONENT, 2022–2027 (USD MILLION)
                                   TABLE 79 INDUSTRIAL MACHINE SAFETY MARKET FOR METALS & MINING, BY REGION, 2018–2021 (USD MILLION)
                                   TABLE 80 INDUSTRIAL MACHINE SAFETY MARKET FOR METALS & MINING, BY REGION, 2022–2027 (USD MILLION)
     10.11 OTHERS
                       TABLE 81 INDUSTRIAL MACHINE SAFETY MARKET FOR OTHER INDUSTRIES, BY COMPONENT, 2018–2021 (USD MILLION)
                       TABLE 82 INDUSTRIAL MACHINE SAFETY MARKET FOR OTHER INDUSTRIES, BY COMPONENT, 2022–2027 (USD MILLION)
                       TABLE 83 INDUSTRIAL MACHINE SAFETY MARKET FOR OTHER INDUSTRIES, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 84 INDUSTRIAL MACHINE SAFETY MARKET FOR OTHER INDUSTRIES, BY REGION, 2022–2027 (USD MILLION)

11 GEOGRAPHIC ANALYSIS (Page No. - 119)
     11.1 INTRODUCTION
               FIGURE 34 INDUSTRIAL SAFETY MARKET, BY GEOGRAPHY
               TABLE 85 INDUSTRIAL SAFETY MARKET, BY REGION, 2018–2021 (USD MILLION)
               TABLE 86 INDUSTRIAL SAFETY MARKET, BY REGION, 2022–2027 (USD MILLION)
     11.2 NORTH AMERICA
               FIGURE 35 SNAPSHOT: INDUSTRIAL SAFETY MARKET IN NORTH AMERICA
               TABLE 87 INDUSTRIAL SAFETY MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 88 INDUSTRIAL SAFETY MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION)
               TABLE 89 INDUSTRIAL SAFETY MARKET IN NORTH AMERICA, BY TYPE, 2018–2021 (USD MILLION)
               TABLE 90 INDUSTRIAL SAFETY MARKET IN NORTH AMERICA, BY TYPE, 2022–2027 (USD MILLION)
               TABLE 91 INDUSTRIAL MACHINE SAFETY MARKET IN NORTH AMERICA, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 92 INDUSTRIAL MACHINE SAFETY MARKET IN NORTH AMERICA, BY INDUSTRY, 2022–2027 (USD MILLION)
             11.2.1 US
                       11.2.1.1 US to hold largest size of industrial safety market in North America during forecast period
             11.2.2 CANADA
                       11.2.2.1 Strict government regulations drive industrial safety market in Canada
             11.2.3 MEXICO
                       11.2.3.1 Abundance of oil & gas reserves to offer opportunities for industrial safety manufacturers in Mexico
     11.3 EUROPE
               FIGURE 36 SNAPSHOT: INDUSTRIAL SAFETY MARKET IN EUROPE
               TABLE 93 INDUSTRIAL SAFETY MARKET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 94 INDUSTRIAL SAFETY MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION)
               TABLE 95 INDUSTRIAL SAFETY MARKET IN EUROPE, BY TYPE, 2018–2021 (USD MILLION)
               TABLE 96 INDUSTRIAL SAFETY MARKET IN EUROPE, BY TYPE, 2022–2027 (USD MILLION)
               TABLE 97 INDUSTRIAL MACHINE SAFETY MARKET IN EUROPE, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 98 INDUSTRIAL MACHINE SAFETY MARKET IN EUROPE, BY INDUSTRY, 2022–2027 (USD MILLION)
             11.3.1 UK
                       11.3.1.1 Mandates for safety regulations propel demand for industrial safety systems and services in UK
             11.3.2 GERMANY
                       11.3.2.1 Growing chemicals industry to drive industrial safety market in Germany
             11.3.3 FRANCE
                       11.3.3.1 Stringent industrial safety requirements driving industrial safety market in France
             11.3.4 DENMARK
                       11.3.4.1 Oil & gas industry in Denmark offers significant growth opportunities for Industrial Safety Market
             11.3.5 FINLAND
                       11.3.5.1 Dedicated institutes and associations will help growth of industrial safety market in Finland
             11.3.6 NORWAY
                       11.3.6.1 Extensive oil and gas exploration activities foster market growth in Norway
             11.3.7 REST OF EUROPE
     11.4 APAC
               FIGURE 37 SNAPSHOT: INDUSTRIAL SAFETY MARKET IN ASIA PACIFIC
               TABLE 99 INDUSTRIAL SAFETY MARKET IN ASIA PACIFIC, BY COUNTRY, 2018–2021 (USD MILLION)
               TABLE 100 INDUSTRIAL SAFETY MARKET IN ASIA PACIFIC, BY COUNTRY, 2022–2027 (USD MILLION)
               TABLE 101 INDUSTRIAL SAFETY MARKET IN ASIA PACIFIC, BY TYPE, 2018–2021 (USD MILLION)
               TABLE 102 INDUSTRIAL SAFETY MARKET IN ASIA PACIFIC, BY TYPE, 2022–2027 (USD MILLION)
               TABLE 103 INDUSTRIAL MACHINE SAFETY MARKET IN ASIA PACIFIC, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 104 INDUSTRIAL MACHINE SAFETY MARKET IN ASIA PACIFIC, BY INDUSTRY, 2022–2027 (USD MILLION)
             11.4.1 CHINA
                       11.4.1.1 Automotive and chemicals industries substantiate industrial safety market growth in China
             11.4.2 JAPAN
                       11.4.2.1 Fast-growing process industries driving adoption of industrial safety products in Japan
             11.4.3 INDIA
                       11.4.3.1 Rising oil & gas production and refining activities boost industrial safety market in India
             11.4.4 SOUTH KOREA
                       11.4.4.1 Industrial safety and health laws to prevent industrial accidents drive industrial safety market in South Korea
             11.4.5 REST OF APAC
     11.5 ROW
               TABLE 105 INDUSTRIAL SAFETY MARKET IN ROW, BY REGION, 2018–2021 (USD MILLION)
               TABLE 106 INDUSTRIAL SAFETY MARKET IN ROW, BY REGION, 2022–2027 (USD MILLION)
               TABLE 107 INDUSTRIAL SAFETY MARKET IN ROW, BY TYPE, 2018–2021 (USD MILLION)
               TABLE 108 INDUSTRIAL SAFETY MARKET IN ROW, BY TYPE,2022–2027 (USD MILLION)
               TABLE 109 INDUSTRIAL MACHINE SAFETY MARKET IN ROW, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 110 INDUSTRIAL SAFETY MARKET IN ROW, BY INDUSTRY, 2022–2027 (USD MILLION)
             11.5.1 MIDDLE EAST & AFRICA
                       11.5.1.1 Oil & gas industry underpins industrial safety market in Middle East & Africa
             11.5.2 SOUTH AMERICA
                       11.5.2.1 Expanding pharmaceuticals industry supports market growth in South America

12 COMPETITIVE LANDSCAPE (Page No. - 140)
     12.1 OVERVIEW
     12.2 TOP FIVE COMPANY REVENUE ANALYSIS
               FIGURE 38 INDUSTRIAL SAFETY MARKET: REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2017–2021
     12.3 MARKET SHARE ANALYSIS, 2021
               TABLE 111 INDUSTRIAL SAFETY MARKET SHARE ANALYSIS (2021)
     12.4 COMPETITIVE LEADERSHIP MAPPING
             12.4.1 STAR
             12.4.2 EMERGING LEADER
             12.4.3 PERVASIVE
             12.4.4 PARTICIPANT
                       FIGURE 39 INDUSTRIAL SAFETY MARKET: COMPETITIVE LEADERSHIP MAPPING, 2021
     12.5 SMALL AND MEDIUM ENTERPRISES (SME) EVALUATION MATRIX, 2021
             12.5.1 PROGRESSIVE COMPANY
             12.5.2 RESPONSIVE COMPANY
             12.5.3 DYNAMIC COMPANY
             12.5.4 STARTING BLOCK
                       FIGURE 40 INDUSTRIAL SAFETY MARKET (GLOBAL), SME EVALUATION QUADRANT, 2021
     12.6 STARTUP EVALUATION MATRIX
               TABLE 112 INDUSTRIAL SAFETY MARKET: DETAILED LIST OF KEY STARTUPS/SMES
               TABLE 113 INDUSTRIAL SAFETY MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
     12.7 INDUSTRIAL SAFETY MARKET: COMPANY FOOTPRINT
               TABLE 114 COMPANY FOOTPRINT
               TABLE 115 PRODUCT FOOTPRINT OF COMPANIES
               TABLE 116 INDUSTRY FOOTPRINT OF COMPANIES
               TABLE 117 REGIONAL FOOTPRINT OF COMPANIES
     12.8 COMPETITIVE SITUATIONS AND TRENDS
             12.8.1 INDUSTRIAL SAFETY MARKET: PRODUCT LAUNCHES, 2019–2021
             12.8.2 INDUSTRIAL SAFETY MARKET: DEALS, 2019–2021

13 COMPANY PROFILES (Page No. - 154)
     13.1 KEY PLAYERS
(Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
             13.1.1 SCHNEIDER ELECTRIC
                       TABLE 118 SCHNEIDER ELECTRIC: BUSINESS OVERVIEW
                       FIGURE 41 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT
                       TABLE 119 SCHNEIDER ELECTRIC: PRODUCTS OFFERED
             13.1.2 HONEYWELL INTERNATIONAL INC.
                       TABLE 120 HONEYWELL INTERNATIONAL INC.: BUSINESS OVERVIEW
                       FIGURE 42 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
             13.1.3 ABB
                       TABLE 121 ABB: BUSINESS OVERVIEW
                       FIGURE 43 ABB: COMPANY SNAPSHOT
             13.1.4 ROCKWELL AUTOMATION, INC.
                       TABLE 122 ROCKWELL AUTOMATION, INC.: BUSINESS OVERVIEW
                       FIGURE 44 ROCKWELL AUTOMATION, INC.: COMPANY SNAPSHOT
             13.1.5 SIEMENS
                       TABLE 123 SIEMENS: BUSINESS OVERVIEW
                       FIGURE 45 SIEMENS: COMPANY SNAPSHOT
             13.1.6 HIMA
                       TABLE 124 HIMA: BUSINESS OVERVIEW
             13.1.7 YOKOGAWA ELECTRIC CORPORATION
                       TABLE 125 YOKOGAWA ELECTRIC CORPORATION: BUSINESS OVERVIEW
                       FIGURE 46 YOKOGAWA ELECTRIC CORPORATION: COMPANY SNAPSHOT
             13.1.8 EMERSON ELECTRIC CO
                       TABLE 126 EMERSON ELECTRIC CO.: BUSINESS OVERVIEW
                       FIGURE 47 EMERSON ELECTRIC CO: COMPANY SNAPSHOT
             13.1.9 BAKER HUGHES
                       TABLE 127 BAKER HUGHES.: BUSINESS OVERVIEW
                       FIGURE 48 BAKER HUGHES: COMPANY SNAPSHOT
                       TABLE 128 BAKER HUGHES: PRODUCT OFFERINGS
             13.1.10 OMRON CORPORATION
                       TABLE 129 OMRON CORPORATION: BUSINESS OVERVIEW
                       FIGURE 49 OMRON CORPORATION: COMPANY SNAPSHOT
                       TABLE 130 OMRON CORPORATION: PRODUCT OFFERINGS
     13.2 OTHER PLAYERS
             13.2.1 JOHNSON CONTROLS
                       TABLE 131 JOHNSON CONTROLS: BUSINESS OVERVIEW
             13.2.2 BALLUFF GMBH
                       TABLE 132 BALLUFF GMBH: BUSINESS OVERVIEW
             13.2.3 KEYENCE
                       TABLE 133 KEYENCE: BUSINESS OVERVIEW
             13.2.4 IDEC CORPORATION
                       TABLE 134 IDEC CORPORATION: BUSINESS OVERVIEW
             13.2.5 SICK
                       TABLE 135 SICK: BUSINESS OVERVIEW
             13.2.6 EUCHNER
                       TABLE 136 EUCHNER: BUSINESS OVERVIEW
             13.2.7 FORTRESS INTERLOCKS (HALMA PLC)
                       TABLE 137 FORTRESS INTERLOCKS (HALMA PLC): BUSINESS OVERVIEW
             13.2.8 SGS GROUP
                       TABLE 138 SGS GROUP: BUSINESS OVERVIEW
             13.2.9 MITSUBISHI ELECTRIC
                       TABLE 139 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
             13.2.10 PILZ
                       TABLE 140 PILZ: BUSINESS OVERVIEW
             13.2.11 VELAN INC.
                       TABLE 141 VELAN INC: BUSINESS OVERVIEW
             13.2.12 PALADON SYSTEMS LTD.
                       TABLE 142 PALADON SYSTEMS LTD.: BUSINESS OVERVIEW
             13.2.13 PROSERV INGENIOUS SIMPLICITY
                       TABLE 143 PROSERV INGENIOUS SIMPLICITY: BUSINESS OVERVIEW
             13.2.14 BANNER ENGINEERING
                       TABLE 144 BANNER ENGINEERING: BUSINESS OVERVIEW
             13.2.15 K.A. SCHMERSAL
                       TABLE 145 K.A. SCHMERSAL: BUSINESS OVERVIEW

*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.

14 ADJACENT & RELATED MARKETS (Page No. - 201)
     14.1 INTRODUCTION
     14.2 LIMITATIONS
     14.3 HIPPS MARKET, BY INDUSTRY
               TABLE 146 HIPPS MARKET, BY INDUSTRY, 2018–2021 (USD MILLION)
               TABLE 147 HIPPS MARKET, BY INDUSTRY, 2022–2027 (USD MILLION)
             14.3.1 OIL & GAS
                       TABLE 148 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2018–2021 (USD MILLION)
                       TABLE 149 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY REGION, 2022–2027 (USD MILLION)
                       TABLE 150 TYPICAL APPLICATIONS OF HIPPS IN UPSTREAM, MIDSTREAM, AND DOWNSTREAM SECTORS
                       TABLE 151 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY STREAM TYPE, 2018–2021 (USD MILLION)
                       TABLE 152 HIPPS MARKET FOR OIL & GAS INDUSTRY, BY STREAM TYPE, 2022–2027 (USD MILLION)
                       14.3.1.1 Upstream
                                   14.3.1.1.1 Upstream sector held largest size of HIPPS market for oil & gas industry in 2021
                       14.3.1.2 Midstream
                                   14.3.1.2.1 Increasing number of oil and gas pipelines to fuel demand for HIPPS in midstream sector
                       14.3.1.3 Downstream
                                   14.3.1.3.1 Increasing demand for HIPPS from LNG regasification plants in downstream sector to drive market growth
             14.3.2 CHEMICAL
                       14.3.2.1 Stringent regulations and standards to fuel demand for high-integrity pressure protection system (HIPPS) in chemical industry
                                   TABLE 153 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2018–2021 (USD MILLION)
                                   TABLE 154 HIPPS MARKET FOR CHEMICAL INDUSTRY, BY REGION, 2022–2027 (USD MILLION)

15 APPENDIX (Page No. - 207)
     15.1 DISCUSSION GUIDE
     15.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
     15.3 AVAILABLE CUSTOMIZATIONS
     15.4 RELATED REPORTS
     15.5 AUTHOR DETAILS

The study involves four major activities for estimating the size of the industrial safety market. Exhaustive secondary research has been conducted to collect information related to the market. The next step has been the validation of these findings, assumptions, and sizing with the industry experts across the value chain through primary research. Both top-down and bottom-up approaches have been employed to estimate the overall size of the industrial safety market. After that, market breakdown and data triangulation procedures have been used to determine the extent of different segments and subsegments of the market.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. The secondary sources used for this research study include government sources; corporate filings (such as annual reports, investor presentations, and financial statements); and trade, business, and professional associations. The secondary data have been sourced from associations such as International Safety Equipment Association, Asia Industrial Gases Association, US Oil & Gas Association, European Automobile Manufacturers' Association, and International Road Safety Association among others.

Primary Research

In the primary research process, primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information important for this report. Primary sources, such as experts from related industries and suppliers, have been interviewed to obtain and verify critical information, as well as assess prospects. Key players such as Schneider Electric, Honeywell International, Siemens AG, Rockwell Automation, Johnson Controls, Rockwell, ABB, HIMA, Emerson, GE, Yokogawa, Omron, in the industrial safety market have been identified through secondary research, and their respective market rankings have been determined through primary and secondary research. This research includes the study of annual reports of the top market players and interviews with key opinion leaders, such as chief executive officers (CEOs), directors, and marketing personnel.

Industrial Safety Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

  • The bottom-up approach has been employed to arrive at the overall size of the industrial safety market from the Identifying products currently provided or expected to be offered by product providers
  • Analyzing the market penetration of each component through secondary and primary research for both pre- and post-COVID-19 scenarios
  • Identifying the ratio for various industrial safety solutions demanded by end-user industries and the anticipated change in demand in the post-COVID-19 scenario
  • Conducting multiple discussion sessions with key opinion leaders to understand various components of industrial safety systems and their implementation and applications in various industries, which would help in analyzing the break-up of the scope of work carried out by each major company; the discussion also includes the impact of COVID-19 on the ecosystem of the market
  • Estimating the size of the safety market based on the demand-side scenario
  • Tracking ongoing and upcoming product launches by companies, and forecasting market based on these developments and other critical parameters
  • Conducting multiple discussions with key opinion leaders to understand the demand for industrial safety, and analyzing the break-up of the scope of work carried out by each major company Arriving at market estimates by analyzing revenues generated by manufacturers, based on their locations (countries), and then combining country-based data to get a market estimate based on region
  • Verifying and crosschecking estimates at every level by discussing with key opinion leaders, including CEOs, directors, operation managers, and then finally with domain experts at MarketsandMarkets
  • Studying various paid and unpaid information sources such as annual reports, press releases, and white papers

Industrial Safety Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

The top-down approach has been used to estimate and validate the total size of the industrial safety market.

  • Focusing on top-line investments and expenditures made in industrial safety ecosystem
  • Building and developing information related to revenue generated from product and component sales
  • Conducting multiple on-field discussions with key opinion leaders from major companies involved in developing industrial safety products and components
  • Estimating geographic splits by using secondary sources, based on various factors, such as the number of players in a specific country and region, types of services used in various industries
  • Analyzing the implications of COVID-19 on the industrial safety market and its segments, which have been measured in terms of value

Industrial Safety Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market has been split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures have been employed, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply sides in the industrial safety market.

Report Objectives

  • To describe and forecast the industrial safety market, in terms of value, by type, component, and industry
  • To describe and forecast the market, in terms of value, by region—North America, Europe,
    Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding factors (drivers, restraints, opportunities, and challenges) influencing market growth
  • To provide a detailed overview of the process flow of the industrial safety market
  • To analyze opportunities for stakeholders in the industrial safety market by identifying its high-growth segments
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall market
  • To strategically profile key players and comprehensively analyze their market shares and core competencies2 along with detailing the competitive leadership and analyzing growth strategies such as product launches and developments, acquisitions, and agreements of leading players.

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players based on various blocks of the value chain.
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