Industrial Safety Market by Type, Product, Component, Vertical

List of Tables

[197 Pages Report] The Industrial Safety Market size was estimated at USD 7.51 billion in 2023 and expected to reach USD 8.02 billion in 2024, at a CAGR 7.01% to reach USD 12.08 billion by 2030.

Industrial Safety refers to the management of all operations and events within an industry to protect its employees and assets by minimizing hazards, risks, accidents, and near misses. Industrial safety plays a significant role in risk management within industries. It involves identifying potential hazards, assessing risks, and implementing controls to mitigate these risks. Various techniques, such as safety training, risk assessments, safety audits, use of personal protective equipment (PPE), and maintenance of machinery and equipment, are used to ensure industrial safety. Technologies such as AI and IoT also play a significant role in modern industrial safety practices, providing real-time alerts and predictive maintenance capabilities to prevent accidents and breakdowns. Increasing awareness and prioritization of worker safety across industries contributes to the adoption of industrial safety devices. In addition, the rising adoption of automation and IoT technologies for real-time monitoring enhances the efficiency of industrial safety systems. However, the high investment cost for the installation of industrial safety systems and the complexity of integrating diverse safety solutions and interoperability issues limit the deployment of industrial safety devices. Furthermore, the emerging potential for wearable safety devices associated with industrial safety has created significant opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 7.51 billion
Estimated Year [2024]	USD 8.02 billion
Forecast Year [2030]	USD 12.08 billion
CAGR (%)	7.01%

Type: Growing demand for machine safety in the industries with heavy automation

Machine safety denotes standard practices to maintain industrial machinery, constituting instructions for operation, upkeep, and risk management. This area is subject to regulations and entails implementing advanced technology measures. Worker safety implies focusing on safeguarding personnel operating in industrial surroundings. Elements such as workplace ergonomics, safety training, and personal protective equipment are crucial. Automated sectors, such as automotive, manufacturing, and oil and gas, lean towards machine safety due to highly invested machinery and affiliated hazards. On the contrary, worker safety takes precedence in fields like construction, agriculture, and warehousing, where manual labor is generally dominant. Businesses need to balance machine and worker safety, aiding in lowering accident incidences, safeguarding employees, curtailing liability, and boosting productivity.

Component: Significant use of safety valves in the power generation and oil & gas industries

Emergency stop devices are critical components of industrial safety. These are designed to halt the operation of machinery immediately when hazardous situations arise. They contribute to preventing industrial accidents and ensure the safety of workers. Programmable safety systems monitor industrial equipment's operational state, ensuring that machinery runs within safe parameters. Safety Controllers, modules, and relays can control and monitor the operation statuses of different safety devices used in industrial settings. Safety sensors monitor environmental changes within the workplace, providing necessary information to prevent mishaps. Safety switches are designed to disconnect the electricity supply during emergencies, protecting against electrical fires and shocks. Safety valves avoid malfunction equipment by releasing excess pressure from the setup. The industrial safety components market is continuously upgraded to cater to the varying safety requirements of different industrial sectors.

Product: Rising adoption of burner management systems and high-integrity pressure protection system to provide comprehensive safety coverage

Burner management systems are installed in industrial applications to ensure the safe start-up, operation, and shutdown of process burners. An emergency shutdown system (ESD) aids in curtailing the consequences of emergencies, minimizing harm to people, the environment, and the process. Fire and gas monitoring systems form the first line of defense in hazardous environments, detecting potential accidents and activating alarms to avert disasters. A high-integrity pressure protection system (HIPPS) is a safety instrumented system designed to limit overpressure events. It's a highly preferred solution within industries managing high-pressure fluid processes such as oil & gas. Turbomachinery control system (TMC) serves to optimize the performance of turbomachinery, promoting safety and efficiency. Burner management systems and turbomachinery control systems are more industry-specific, primarily serving sectors with process burners and turbomachinery, respectively. In contrast, emergency shutdown systems, Fire and gas monitoring systems, and high-integrity pressure protection systems have wider applicability.

Vertical: Increasing utilization of industrial safety in chemical industry for better protection from hazardous substance exposure

Industrial safety in Aerospace and defense is precision-based and stringent. A robust safety structure is integral within the automotive industry, primarily due to the direct relationship with consumers. In the chemical industry, safety largely revolves around safely handling and dumping hazardous substances. Static discharge, radiation, and heat exposure constitute the main safety challenges in the electronics industry. Strong safety regulations are non-negotiable given the risk-extensive nature of the energy and power sector. Food and beverage safety is focused on hygiene standards and contamination prevention. The healthcare & pharmaceutical sector demands a 360-degree safety approach from infection control to medication safety, along with enhancing hospital safety measures substantially. The oil and gas industry, known for its inherent risk factors, prioritizes safety.

Regional Insights

The American region, particularly the United States and Canada, prioritize stringent safety protocols in their industries that nourish the deployment of industrial safety systems across the industries. Investments in the production of durable and efficient safety devices for workers have risen in the American region. The numerous initiatives promoting workplace safety and mindful purchasing behavior of safety products have gained momentum. The European, Middle Eastern, and African region is seeing consistent growth in the industrial safety market. EU's safety regulations and Africa's increased focus on workplace safety have affected customer purchasing habits, driving the need for advanced safety solutions. The Middle East, meanwhile, is attracting substantial foreign investments with its generous spending on industrial safety initiatives. The Asia-Pacific region, comprising emerging economies such as China, India, and Japan, has shown significant growth over the years, driven by burgeoning manufacturing industries and rapid urbanization. Consumer needs primarily revolve around affordable yet reliable safety equipment. A significant increase in customer acceptance of higher quality safety systems paving the way for international investors in the APAC region.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Industrial Safety Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Industrial Safety Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Industrial Safety Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., ACL Combustion Inc., Balluff GmbH, Banner Engineering India Pvt. Ltd., Born Inc., Cimarron Energy, Inc., Combustex Corp., Emerson Electric Co., Euchner, Fortress Interlocks, General Electric Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Johnson Controls International PLC, Keyence Corporation, KHD Humboldt Wedag International AG, Mitsubishi Electric Corporation, Omron Corporation, Pilz GmbH & Co. KG, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, SoftServe Inc., Spartan Controls Ltd., and Yokogawa Electric Corporation.

Market Segmentation & Coverage

This research report categorizes the Industrial Safety Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Machine Safety
- Worker Safety

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

Component
- Emergency Stop Devices
- Programmable Safety Systems
- Safety Controllers/Module/Relays
- Safety Sensors
- Safety Switches
- Safety Valves

Vertical
- Aerospace & Defense
- Automotive
- Chemical
- Electronics
- Energy & Power
- Food & Beverages
- Healthcare & Pharmaceutical
- Oil & Gas

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Industrial Safety Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Industrial Safety Market?

3. What are the technology trends and regulatory frameworks in the Industrial Safety Market?

4. What is the market share of the leading vendors in the Industrial Safety Market?

5. Which modes and strategic moves are suitable for entering the Industrial Safety Market?

Product Code: MRR-C573DF320752

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing awareness and prioritization of worker safety across industries
  - 5.1.1.2. Stringent regulatory requirements and standards to invest in safety measures
  - 5.1.1.3. Rising adoption of automation and IoT technologies for real-time monitoring
- 5.1.2. Restraints
  - 5.1.2.1. Initial investment cost for the installation of industrial safety systems
- 5.1.3. Opportunities
  - 5.1.3.1. Technological advancements in producing reliable safety equipment
  - 5.1.3.2. Emerging potential for wearable safety devices associated with industrial safety
- 5.1.4. Challenges
  - 5.1.4.1. Complexity in integrating diverse safety solutions and interoperability issues
5.2. Market Segmentation Analysis
- 5.2.1. Type: Growing demand for machine safety in the industries with heavy automation
- 5.2.2. Component: Significant use of safety valves in the power generation and oil & gas industries
- 5.2.3. Product: Rising adoption of burner management systems and high-integrity pressure protection system to provide comprehensive safety coverage
- 5.2.4. Vertical: Increasing utilization of industrial safety in chemical industry for better protection from hazardous substance exposure
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Industrial Safety Market, by Type

6.1. Introduction
6.2. Machine Safety
6.3. Worker Safety

7. Industrial Safety Market, by Product

7.1. Introduction
7.2. Burner Management System (BMS)
7.3. Emergency Shutdown System (ESD)
7.4. Fire & Gas Monitoring System
7.5. High Integrity Pressure Protection System (HIPPS)
7.6. Turbomachinery Control System (TMC)

8. Industrial Safety Market, by Component

8.1. Introduction
8.2. Emergency Stop Devices
8.3. Programmable Safety Systems
8.4. Safety Controllers/Module/Relays
8.5. Safety Sensors
8.6. Safety Switches
8.7. Safety Valves

9. Industrial Safety Market, by Vertical

9.1. Introduction
9.2. Aerospace & Defense
9.3. Automotive
9.4. Chemical
9.5. Electronics
9.6. Energy & Power
9.7. Food & Beverages
9.8. Healthcare & Pharmaceutical
9.9. Oil & Gas

10. Americas Industrial Safety Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Industrial Safety Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Industrial Safety Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. SoftServe Launches New Worker Safety Solution Powered By SAS Analytics to Reduce Workplace Injuries in Real-Time
- 13.3.2. Protex AI and Intelex Join Forces to Revolutionize Workplace Safety
- 13.3.3. H2scan Launches HY-ALERTA 5021 Hydrogen Sensor for Maintenance-Free Battery Room Safety Monitoring
13.4. Strategy Analysis & Recommendation

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio