Industrial Safety Market

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 20)
    2.1 Research Data
           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 Primary Interviews With Experts
                    2.1.3.2 Key Data From Primary Sources
                    2.1.3.3 Key Industry Insights
                    2.1.3.4 Breakdown of Primaries
    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)
           2.2.2 Top-Down Approach
                    2.2.2.1 Approach for Capturing Market Share By Top-Down Analysis (Supply Side)
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 33)
    4.1 Attractive Growth Opportunities in Industrial Safety Market
    4.2 Industrial Safety Market, By Product Type
    4.3 Industrial Safety Market, By Component
    4.4 Industrial Safety Market, By Industry
    4.5 Industrial Safety Market in APAC, By Product and Country
    4.6 Industrial Safety Market, By Geography

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Mandate for Safety Regulations
                    5.2.1.2 Rising Demand for Safety Systems in the Oil & Gas Industry
                    5.2.1.3 Rising Need for Reliable Safety Systems for Personnel & Asset Protection
                    5.2.1.4 Industrial Revolution 4.0
                    5.2.1.5 Growing Automation in Hazardous Industrial Areas
           5.2.2 Restraints
                    5.2.2.1 High Investment Required for Automation and Maintenance of Equipment in Hazardous Environments
           5.2.3 Opportunities
                    5.2.3.1 Rising Acceptance of Workplace Safety Standards in Emerging Economies
                    5.2.3.2 Growing Use of IIoT
           5.2.4 Challenges
                    5.2.4.1 Increasing Complexity of Safety Applications
                    5.2.4.2 Lack of Industrial Safety Certified Workforce
    5.3 New Industrial Safety Technologies Expected to Foster Market Growth
           5.3.1 Safety Integrity Level (SIL)
           5.3.2 Industrial Safety Standards
                    5.3.2.1 IEC 61508
                    5.3.2.2 IEC 61511
                    5.3.2.3 IEC 62061
                    5.3.2.4 IEC 62443
           5.3.3 Adoption of Different Technologies for Industrial Safety

6 Industrial Safety Market, By Component (Page No. - 44)
    6.1 Introduction
    6.2 Safety Sensors
           6.2.1 Sensors Used in A Safety System are Developed and Designed to Ensure A Safe Output Based on the Logic
    6.3 Programmable Safety Systems
           6.3.1 Programmable Safety Systems Such as Safety PLCs are an Integral Part of Safety Instrumented Systems
    6.4 Safety Controllers/Module/Relays
           6.4.1 Relays are A Simple and Efficient Way to Meet Existing Safety Standards
    6.5 Safety Switches
           6.5.1 Safety Switches are Designed to Protect Operators and Equipment in Industrial Plants
    6.6 Emergency Stop Devices
           6.6.1 Emergency Stop Devices are Crucial Elements Within the Safety-Related Parts of Control Systems
    6.7 Safety Valves
           6.7.1 Safety Valve is the Final Element of A Safety Instrumented Function
    6.8 Others

7 Industrial Safety Market, By Product (Page No. - 54)
    7.1 Introduction
    7.2 Emergency Shutdown Systems (ESD)
           7.2.1 Emergency Shutdown (ESD) System is Designed to Avert Hazardous Situations
    7.3 Fire & Gas Monitoring Systems
           7.3.1 Fire and Gas Monitoring System is Mainly Used to Prevent and Lower the After-Effects of Fire Accidents
    7.4 High Integrity Pressure Protection Systems (HIPPS)
           7.4.1 HIPPS is Employed to Prevent Gas Over-Pressurization
    7.5 Burner Management Systems (BMS)
           7.5.1 Burner Management System (BMS) Helps in Reliable Monitoring, Operations, and Maintenance of All Plants Assets
    7.6 Turbomachinery Control (TMC)
           7.6.1 TMC Provides Tight Control Over the Speed of Steam, Hydro, and Gas Turbines

8 Industrial Safety Market, By Industry (Page No. - 76)
    8.1 Introduction
    8.2 Oil & Gas
           8.2.1 Oil & Gas Plants are Prone to Incidents That Can Affect People and the Environment
    8.3 Food & Beverages
           8.3.1 in Food Processing Plants, Several Dangerous Machines are Used Which Requires Adherence to Safety
    8.4 Pharmaceuticals
           8.4.1 Installing an Effective Safety Instrumented System Can Prevent Potential Hazards From Occurring
    8.5 Chemicals
           8.5.1 Safety and Reliability are Critical Factors for the Chemicals Industry
    8.6 Power Generation
           8.6.1 Power Generation Plants Pose High Risks to Human Lives as Well as the Environment. Therefore, A High Level of Industrial Safety is Required
    8.7 Metals & Mining
           8.7.1 Safety is Vital for Metals Production, Transportation, and Storage
    8.8 Water and Wastewater
           8.8.1 Water and Wastewater Industry is Widely Adopting Industrial Safety Solutions to Safeguard People and Environment
    8.9 Others

9 Geographic Analysis (Page No. - 82)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 Industrial Safety Standards and Legal Requirements to Maintain Safety Standards Have Surged the Deployment of Safety-Related Systems
           9.2.2 Canada
                    9.2.2.1 Industrial Safety is Governed at the Provincial Level in Canada
           9.2.3 Mexico
                    9.2.3.1 Industrial Safety Systems are Essential for Ensuring the Safety of These Oil & Gas Processes
    9.3 Europe
           9.3.1 UK
                    9.3.1.1 Offshore Oil & Gas Industry in the UK is A Major Hazard Sector and is Committed Toward Maintaining Safe Operations to Protect People and the Environment
           9.3.2 Germany
                    9.3.2.1 Machine and Industrial Safety Measures are Strictly Governed By Various Regulatory Standards, Such as the IEC 61508 in Germany
           9.3.3 France
                    9.3.3.1 Rising Awareness About Industrial Safety in the Process Industry is Contributing to the Growth of the Market in France
           9.3.4 Rest of Europe
    9.4 APAC
           9.4.1 China
                    9.4.1.1 China has Been Witnessing the Highest Adoption of Industrial Safety Solutions Within APAC
           9.4.2 Japan
                    9.4.2.1 Fast-Growing Process Industry in Japan Adheres to Safety Standards to Improve Human and Process Safety
           9.4.3 India
                    9.4.3.1 Growing Number of Power Projects in India has Given Momentum to the Implementation of Industrial Safety Systems
           9.4.4 South Korea
                    9.4.4.1 Korean Government has Established the Industrial Safety and Health Law to Prevent Industrial Accidents
           9.4.5 Rest of APAC
    9.5 RoW
           9.5.1 South America
                    9.5.1.1 Brazil is One of the Most Conducive Markets for Industrial Safety Owing to Favorable Safety Regulations Put Forth By the Country’s Ministry of Labor
           9.5.2 Middle East & Africa
                    9.5.2.1 Middle East & African Region is an Important Market for Industrial Safety Systems in RoW Because of Its Oil & Gas Reserves

10 Competitive Landscape (Page No. - 96)
     10.1 Overview
     10.2 Market Ranking Analysis: Industrial Safety Market
     10.3 Microquadrant Overview
             10.3.1 Visionary Leaders
             10.3.2 Innovators
             10.3.3 Dynamic Differentiators
             10.3.4 Emerging Companies
             10.3.5 Strength of Product Portfolio
             10.3.6 Business Strategy Excellence
     10.4 Competitive Situation & Trends
             10.4.1 Contracts, Agreements, and Partnerships
             10.4.2 Product Launches & Developments
             10.4.3 Acquisitions

11 Company Profiles (Page No. - 105)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 Key Players
             11.1.1 ABB
             11.1.2 Honeywell
             11.1.3 Rockwell
             11.1.4 Schneider
             11.1.5 Yokogawa
             11.1.6 Emerson
             11.1.7 GE
             11.1.8 Hima Paul
             11.1.10 Omron
             11.1.11 Siemens
     11.2 Other Key Players
             11.2.1 Proserv Ingenious Simplicity
             11.2.2 Johnson Controls (TYCO)
             11.2.3 Balluff GmbH
             11.2.4 Euchner
             11.2.5 Fortress Interlocks (Halma PLC)

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 138)
     12.1 Insights of Industry Experts
     12.2 Available Customizations
     12.3 Related Reports

List of Tables (63 Tables)

Table 1 Industrial Safety Market, By Component, 2016–2024 (USD Million)
Table 2 Industrial Safety Market, By Component, 2016–2024 (Million Units)
Table 3 Industrial Safety Market for Safety Sensors, By Product, 2016–2024 (USD Million)
Table 4 Industrial Safety Market for Programmable Safety Systems, By Product, 2016–2024 (USD Million)
Table 5 Industrial Safety Market for Safety Controllers/Module/Relays, By Product, 2016–2024 (USD Million)
Table 6 Industrial Safety Market for Safety Switches, By Product, 2016–2024 (USD Million)
Table 7 3 Common Types of Emergency Stop Devices
Table 8 Industrial Safety Market for Emergency Stop Devices, By Product, 2016–2024 (USD Million)
Table 9 Industrial Safety Market for Safety Valves, By Product, 2016–2024 (USD Million)
Table 10 Industrial Safety Market for Others, By Product, 2016–2024 (USD Million)
Table 11 Industrial Safety Market, By Product, 2016–2024 (USD Million)
Table 12 Emergency Shutdown Systems Market, By Component, 2016–2024 (USD Million)
Table 13 Emergency Shutdown System Market for Oil & Gas, By Region, 2016–2024 (USD Million)
Table 14 Emergency Shutdown System Market for Power Generation, By Region, 2016–2024 (USD Million)
Table 15 Emergency Shutdown System Market for Chemicals, By Region, 2016–2024 (USD Million)
Table 16 Emergency Shutdown System Market for Food & Beverages, By Region, 2016–2024 (USD Million)
Table 17 Emergency Shutdown System Market for Water & Wastewater, By Region, 2016–2024 (USD Million)
Table 18 Emergency Shutdown System Market for Pharmaceuticals, By Region, 2016–2024 (USD Million)
Table 19 Emergency Shutdown System Market for Metals and Mining, By Region, 2016–2024 (USD Million)
Table 20 Emergency Shutdown System Market for Others, By Region, 2016–2024 (USD Million)
Table 21 Fire & Gas Monitoring System Market, By Component, 2016–2024 (USD Million)
Table 22 Fire & Gas System Market for Oil & Gas, By Region, 2016–2024 (USD Million)
Table 23 Fire & Gas System Market for Power Generation, By Region, 2016–2024 (USD Million)
Table 24 Fire & Gas System Market for Chemicals, By Region, 2016–2024 (USD Million)
Table 25 Fire & Gas Monitoring System Market for Food & Beverages, By Region, 2016–2024 (USD Million)
Table 26 Fire & Gas Monitoring System Market for Water & Wastewater, By Region, 2016–2024 (USD Million)
Table 27 Fire & Gas Monitoring System Market for Pharmaceuticals, By Region, 2016–2024 (USD Million)
Table 28 Fire & Gas Monitoring System Market for Metals & Mining, By Region, 2016–2024 (USD Million)
Table 29 Fire & Gas Monitoring System Market for Others, By Region, 2016–2024 (USD Million)
Table 30 High Integrity Pressure Protection Systems Market, By Component, 2016–2024 (USD Million)
Table 31 High Integrity Pressure Protection Systems Market for Oil & Gas, By Region, 2016–2024 (USD Million)
Table 32 High Integrity Pressure Protection Systems Market for Power Generation, By Region, 2016–2024 (USD Million)
Table 33 High Integrity Pressure Protection Systems Market for Chemicals, By Region, 2016–2024 (USD Million)
Table 34 High Integrity Pressure Protection Systems Market for Food & Beverages, By Region, 2016–2024 (USD Million)
Table 35 High Integrity Pressure Protection Systems Market for Water & Wastewater, By Region, 2016–2024 (USD Million)
Table 36 High Integrity Pressure Protection Systems Market for Pharmaceuticals, By Region, 2016–2024 (USD Million)
Table 37 High Integrity Pressure Protection Systems Market for Metals & Mining, By Region, 2016–2024 (USD Million)
Table 38 High Integrity Pressure Protection Systems Market for Others, By Region, 2016–2024 (USD Million)
Table 39 Burner Management Systems Market, By Component, 2016–2024 (USD Million)
Table 40 Burner Management Systems Market for Oil & Gas, By Region, 2016–2024 (USD Million)
Table 41 Burner Management Systems Market for Power Generation, By Region, 2016–2024 (USD Million)
Table 42 Burner Management Systems Market for Chemicals, By Region, 2016–2024 (USD Million)
Table 43 Burner Management Systems Market for Food & Beverages, By Region, 2016–2024 (USD Million)
Table 44 Burner Management Systems Market for Water & Wastewater, By Region, 2016–2024 (USD Million)
Table 45 Burner Management Systems Market for Pharmaceuticals, By Region, 2016–2024 (USD Million)
Table 46 Burner Management Systems Market for Metals and Mining, By Region, 2016–2024 (USD Million)
Table 47 Burner Management Systems Market for Others, By Region, 2016–2024 (USD Million)
Table 48 Turbomachinery Control Market, By Component, 2016–2024 (USD Million)
Table 49 Turbomachinery Control Market for Oil & Gas, By Region, 2016–2024 (USD Million)
Table 50 Turbomachinery Control Market for Power Generation, By Region, 2016–2024 (USD Million)
Table 51 Turbomachinery Control Market for Chemicals, By Region, 2016–2024 (USD Million)
Table 52 Turbomachinery Control Market for Food & Beverages, By Region, 2016–2024 (USD Million)
Table 53 Turbomachinery Control Market for Water & Wastewater, By Region, 2016–2024 (USD Million)
Table 54 Turbomachinery Control Market for Pharmaceuticals, By Region, 2016–2024 (USD Million)
Table 55 Turbomachinery Control Market for Metals & Mining, By Region, 2016–2024 (USD Million)
Table 56 Turbomachinery Control Market for Others, By Region, 2016–2024 (USD Million)
Table 57 Industrial Safety Market, By Process Industry, 2016–2024 (USD Million)
Table 58 Industrial Safety Market, By Region, 2016–2024 (USD Million)
Table 59 Industrial Safety Market in North America, By Country, 2016–2024 (USD Million)
Table 60 Industrial Safety Market in Europe, By Country, 2016–2024 (USD Million)
Table 61 Industrial Safety Market in APAC, By Country, 2016–2024 (USD Billion)
Table 62 Industrial Safety Market in RoW, By Region, 2016–2024 (USD Billion)
Table 63 Ranking of Key Players in Industrial Safety Market, 2018

List of Figures (39 Figures)

Figure 1 Industrial Safety Market: Research Design
Figure 2 Industrial Safety Market: Bottom-Up Approach
Figure 3 Industrial Safety Market: Top-Down Approach
Figure 4 Data Triangulation
Figure 5 Industrial Safety Market for Fire & Gas Monitoring Systems to Grow at Highest CAGR During Forecast Period
Figure 6 Market for Programmable Safety Systems to Grow at Highest CAGR During Forecast Period
Figure 7 Oil & Gas Held Major Share of Industrial Safety Market in 2018
Figure 8 Industrial Safety Market, By Region
Figure 9 Mandates for Safety Regulation and Rising Demand for Safety Systems in Oil & Gas Industry to Boost Adoption of Industrial Safety Systems
Figure 10 Emergency Shutdown Systems to Hold Major Market Share in 2019
Figure 11 Safety Sensors to Hold Major Share of Industrial Safety Market By 2024
Figure 12 Oil & Gas to Hold Largest Share of Industrial Safety Market in 2019
Figure 13 Emergency Shutdown Systems Held Largest Share of APAC Industrial Safety Market in 2018
Figure 14 Industrial Safety Market in China to Grow at Highest CAGR
Figure 15 Mandate for Safety Regulations is Expected to Drive Growth of Industrial Safety Market
Figure 16 Industrial Safety Market, By Component
Figure 17 Safety Sensors to Hold Largest Share of Industrial Safety Market By 2024
Figure 18 Emergency Shudown Systems to Hold Largest Share of Programmable Safety System Market By 2024
Figure 19 Industrial Safety Market, By Product
Figure 20 Safety Sensors to Hold Largest Share of Fire & Gas Monitoring & Control Market By 2024
Figure 21 Safety Sensors to Hold Largest Share of Industrial Safety Market for Burner Management Systems in 2019
Figure 22 Global Industrial Safety Market, By Industry
Figure 23 Oil & Gas Industry to Hold Largest Share of Industrial Safety Market By 2024
Figure 24 China to Grow at Highest CAGR During Forecast Period
Figure 25 North America: Snapshot of Industrial Safety Market
Figure 26 Europe: Snapshot of Industrial Safety Market
Figure 27 APAC: Snapshot of Industrial Safety Market
Figure 28 Middle East & Africa to Dominate RoW Industrial Safety Market During Forecast Period
Figure 29 Key Developments in Industrial Safety Market (2016 to 2018)
Figure 30 Industrial Safety Market (Global) Competitive Leadership Mapping, 2018
Figure 31 ABB: Company Snapshot
Figure 32 Honeywell: Company Snapshot
Figure 33 Rockwell: Company Snapshot
Figure 34 Schneider: Company Snapshot
Figure 35 Yokogawa: Company Snapshot
Figure 36 Emerson: Company Snapshot
Figure 37 GE: Company Snapshot
Figure 38 Omron: Company Snapshot
Figure 39 Siemens: Company Snapshot

The study involved 4 major activities for estimating the size of the industrial safety market. Exhaustive secondary research was conducted to collect information on the market. The next step involved validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the overall market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources have been referred to for identifying and collecting information important for this study. Secondary sources such as encyclopedias, directories, and databases (Occupational Safety and Health Administration (OSHA), American National Standards Institute (ANSI), International Electrotechnical Commission (IEC), and International Standard Organization (ISO)) have been used to identify and collect information for an extensive technical and commercial study of the industrial safety market.

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 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 included studying annual reports of top market players and interviewing key opinion leaders, such as CEOs, directors, and marketing personnel.

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

Market Size Estimation

In the complete market engineering process, both top-down and bottom-up approaches have been implemented, along with several data triangulation methods, to estimate and validate the size of the industrial safety market and other dependent submarkets listed in this report.

• The key players in the industry and markets have been identified through extensive secondary research.
• The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size, the total market has been split into several segments. To complete the overall market engineering process and arrive at exact statistics for all segments, market breakdown and data triangulation procedures have been employed wherever applicable. The data has been triangulated by studying various factors and trends from both demand and supply sides. The market has also been validated using both top-down and bottom-up approaches.

Study Objectives:

• To define, describe, segment, and forecast the industrial safety market, in terms of value, based on component, product, industry, and geography
• To forecast the market size, in terms of value, for segments mentioned above with respect to 4 regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
• To provide detailed information regarding the factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
• To analyze opportunities for stakeholders in the industrial safety market by identifying its high-growth segments
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contribution to the overall market
• To strategically profile key players and comprehensively analyze their market shares and core competencies along with detailing the competitive leadership and analyzing growth strategies such as product launches and developments, expansions, acquisitions, agreements, mergers, joint ventures, and partnerships

Report Scope:

In this report, the overall industrial safety market has been segmented by product, component, industry, and geography.

Industrial Safety Market, By Product:

• Emergency Shutdown Systems (ESD)
• Fire & Gas Monitoring Systems
• High Integrity Pressure Protection Systems (HIPPS)
• Burner Management Systems (BMS)
• Turbomachinery Control (TMC)

Industrial Safety Market, By Component:

• Safety Sensors
• Programmable Safety Systems
• Safety Controllers/Modules/Relays
• Safety Switches
• Emergency Stop Devices
• Safety Valves
• Others

Industrial Safety Market, By Industry:

• Chemicals
• Oil & Gas
• Power Generation
• Pharmaceuticals
• Metal & Mining
• Water & Wastewater
• Food & Beverages
• Others

Industrial Safety Market, By Geography

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

Available Customizations:

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

Company Information:

• Detailed analysis and profiling of additional market players (up to 5)