Industrial Safety Market Analysis, Competitive Landscape, And Segment Forecasts 2020
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<strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> <strong>Analysis</strong>, <strong>Competitive</strong><br />
<strong>Landscape</strong>, <strong>And</strong> <strong>Segment</strong> <strong>Forecasts</strong> <strong>2020</strong><br />
“The total <strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> was valued at $2.03 billion in 2014<br />
and is expected to reach $3.76 billion by <strong>2020</strong>, at an estimated CAGR<br />
of 11.06% between 2015 and <strong>2020</strong>.”<br />
According to a new market research “<strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> by Component (Switches, Sensors, and<br />
Programmable <strong>Safety</strong> Devices), by Product (ESD, F&G, and HIPPS), by Application (Chemical, Oil & Gas,<br />
and Power Generation), and by Geography - Global Trends & <strong>Forecasts</strong> to 2014 - <strong>2020</strong>” , the total<br />
<strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> was valued at $2.03 billion in 2014 and is expected to reach $3.76 billion by <strong>2020</strong>,<br />
at an estimated CAGR of 11.06% between 2015 and <strong>2020</strong>.<br />
The operation of many industrial processes involves characteristic risks due to the dangerous materials<br />
involved such as gases and chemicals. <strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> are explicitly designed to protect personnel,<br />
equipment, and the environment by minimising the likelihood (frequency) or the impact severity of an<br />
identified emergency event. <strong>Safety</strong> regulations by government have led to a significant growth in safety<br />
instrumented products. Machine safety regulations such as EU Machinery Directives and North America’s<br />
OSHA standards have been strong drivers for the growth of the SIS market. In the report, this market has<br />
been categorized on the basis of products, namely emergency shutdown systems, fire and gas monitoring<br />
and control, high integrity pressure protection systems, burner management systems, and turbo<br />
machinery and control. The emergency shutdown system accounted for the largest share of ~39% of the<br />
overall SIS market, as of 2014.<br />
The report also covers key application sectors of the <strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong>, including chemical, refining,<br />
oil & gas, pharmaceutical & biotech, paper & pulp, metal and mining, water & wastewater, food and<br />
beverage manufacturing, and power generation. Among all the applications, oil and gas is expected to be<br />
the largest contributor to the overall SIS market.<br />
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The <strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> for different geographic regions, including the Americas, Europe, Asia-Pacific,<br />
and the Rest of the World (RoW), has also been covered in the report. Europe comprised the largest<br />
market for SIS as of 2014, while APAC is expected to grow at the highest CAGR among all the regions<br />
during the forecast period.<br />
The report profiles the major players in the <strong>Industrial</strong> <strong>Safety</strong> <strong>Market</strong> along with their SWOT analysis. The<br />
market has been witnessing a series of new product launches and partnerships across the value chain. The<br />
key players in this industry include ABB Ltd. (Switzerland), Emerson Process Management (U.S.), General<br />
Electric Company (U.S.), HIMA Paul Hildebrandt GmbH (Germany), Honeywell International, Inc. (U.S.),<br />
Schneider Electric SE (France), Rockwell Automation (U.S.), Siemens AG (Germany), Yokogawa Electric<br />
Corporation (Japan), OMRON Corporation (Japan), Johnson Controls, Inc. (U.S.), Tyco International Plc<br />
(Switzerland), and others.<br />
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