Global Industrial Safety Market Analysis 2022
The Global Industrial Safety Market is expected to reach $10.45 billion by 2028 growing at a CAGR of 8.8% from 2021 to 2028. Industrial safety is playing an important role in practices and standards adopted for ensuring occupational safety in different industries. The system is used for preventing various occupational hazards and in many cases eliminates the cause of industrial accidents thus protecting personnel, the industrial environment, and the equipment and assets. The systems for industrial safety globally are increasingly being demanded in several process industries, including power generation, paper and pulp, water and wastewater, and food manufacturing. The incidence of workplace injuries affects the productivities of businesses of all sizes. In particular, fire hazards and electrical hazards may take a toll on the lives of industrial workers, severely constraining productivity. Industrial safety processes consist of numerous levels of safety shutdown systems initiating protective action in case of a sudden incident. Some of the other industrial safety elements used are burner management systems, fire and gas monitoring systems, pressure protection systems, and turbomachinery control solutions.
Factors such as strict mandates for safety regulations, increasing utilization of safety sensors for varied applications, demand for safety in oil & gas industry, increasing integration of big data in safety tools, and rising rapid technological advancement producing reliable safety equipments are driving the growth of the market. However, high investments required for automation and installing industrial safety systems restraining the growth of the market.
Based on the device type, presence sensing safety sensors segment is expected to have lucrative growth during the forecast period, due to the necessitate for security needs for defending 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 key vendors mentioned are Baker Hughes, Honeywell International Inc., Siemens AG, Schneider Electric SE, OMRON Corporation, Emerson Electric Co., 3M, General Electric, HIMA Paul Hildebrandt GmbH, Rockwell Automation, Inc., Yokogawa Electric Corporation, Idec Corporation, ABB Ltd, Mitsubishi Electric, Johnson Controls, Balluff Gmbh. DuPont, Sgs Group, Fortress Interlocks, and Proserv Ingenious Simplicity.
Device Types Covered:
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