Home Press Releases Industrial safety Market Size Worth $10.63 Billion By 2030 | CAGR: 6.7%

Industrial safety Market Size Worth $10.63 Billion By 2030 | CAGR: 6.7%

The global Industrial safety market size is expected to reach USD 10.63 billion by 2030, according to a new study by Polaris Market Research. The report “Industrial Safety Market Share, Size, Trends, Industry Analysis Report, By Offering; By Type; By End-Use (Oil & Gas, Power, Chemical, Water & Wastewater Treatment, Pharmaceuticals, Paper & Pulp, Mining & Metals, Food & Beverage); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.

 

The adoption of industrial safety solutions is expected to be sped up by initiatives done by various governments & regulatory authorities, such as the Department of Occupational Safety & Health (NIOSH) and the Work Health and Safety Regulations (OSHA). Intelligent clothing, smart personal protective equipment, smart safety, & autonomous cars are just a few of the new, developing trends that will likely present profitable prospects for the workplace safety sector to expand.

 

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New opportunities are emerging for integrated safety & compliance services due to the industrial internet of things. Businesses may combine their operations with safety systems & monitor them in real time using the Industrial Internet of Things. Through instantaneous monitoring, analysis, & control made possible by the industrial internet of things, physical systems may be managed virtually, ultimately leading to improved performance. During the projected period, it is anticipated that the need for industrial safety will increase due to the expansion of the internet of things.

 

The covid-19 has badly impacted this market. The power-generating, chemical, automotive, and oil & gas sectors are among those that are most badly impacted. Due to shifts in consumer behavior, poor output, and industrial closures, several industries saw a significant impact. Metals and mining, healthcare and pharmaceuticals, semiconductor, & food and beverage are a few of the industries that have been moderately damaged. However, because of customer demands and the restart of production procedures, these industries are anticipated to rebound swiftly.

 

Industrial safety Market Report Highlights

  • Growing demand for emergency shutdown systems in several applications, such as the petrochemical, industrial, pharmaceutical, healthcare, and power sectors, among others, is expected to drive segment demand.
  • Oil & gas segment is expected to spearhead revenue growth as worker safety is a major concern in this sector. Workers risk fire and explosion due to flammable gases or vapors.
  • Asia Pacific is expected to grow at a higher CAGR over the forecast period because of several infrastructure projects sanctioned by the government across developing nations in the region, such as India and China.
  • Major players operating in the industry include Siemens, Yokogawa, Hima Paul, Rockwell, Emerson, OMRON Corp, Honeywell, Johnson Controls, ABB, and Balluff GmbH.

 

Polaris Market Research has segmented the Industrial safety market report based on, type, offering, end-use, and region:

 

Industrial safety, Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Emergency shutdown (ESD)
  • Monitoring Fire and Gas Systems
  • High Integrity Pressure Safety (HIPPS)
  • Burner Control Systems (BMS)
  • Turbomachinery Control
  • Intrusion detection and control systems
  • Override & Bypass Management Systems

Industrial safety, Offering Outlook (Revenue – USD Billion, 2018 – 2030)

  • Hardware
  • Software

Industrial safety, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Oil & Gas
  • Chemical
  • Treatment of Water and Wastewater
  • Power
  • Pharmaceuticals
  • Paper & Pulp
  • Mining & Metals
  • Food and Beverage
  • Others

Industrial safety, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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