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North America Safety Systems Market Size (2024 - 2029)

The North America Safety Systems Market is experiencing growth driven by the adoption of industrial safety standards and the increasing demand for programmable safety systems. The food and beverage industry is a significant contributor to this expansion, as it seeks to enhance production efficiency and safety through integrated automated systems. The Industrial Internet of Things (IIoT) is also creating new opportunities for real-time safety monitoring and compliance. However, the high costs associated with industrial safety components and the need for regular upgrades to meet evolving regulatory standards pose challenges, particularly for smaller organizations. The market's growth trajectory was temporarily affected by the COVID-19 pandemic, which reduced demand in sectors like oil and gas, but these industries have since rebounded.

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Market Size of North America Safety Systems Industry

North America Safety Systems Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 7.20 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

North America Safety Systems Market Analysis

The North America Safety Systems Market is expected to register a CAGR of 7.2% during the forecast period. The adoption of standards like IEC 61508 and IEC 61511 has led to increased reliance on industrial safety systems to attain mandatory risk reduction targets. The growth in the demand for programmable safety systems is also aiding the growth of the studied market in North America.

  • The food & beverage industry is expected to offer a significant boost to the studied market as the industry strives to achieve high quality, efficient, and consistent production at a low cost. It can be achieved by making food & beverage plants safer, more flexible, and more profitable by picking an integrated approach of automated safety control systems like industrial safety solutions. The safety systems aid in achieving greater operational transparency across production lines and reduce compliance costs through timely corrective actions.
  • Additionally, IIoT (Industrial Internet of Things) is creating several new opportunities for integrated industrial safety and compliance services. IIoT can obtain data from sensors that measure pressure, flow, level, temperature, and vibration and send the collected information to monitoring systems. The data is transmitted through wireless or wired networks that offer real-time analysis, alerts, and possible solutions in any emergency. By employing IIoT, companies can integrate their processes with safety systems and monitor the same in real time.
  • However, the cost of industrial safety components, installation costs, maintenance, and repair costs put a substantial burden on the organizational budget. Though large organizations can handle these expenses, it could be challenging for small and medium-sized organizations to afford robust industrial safety systems.
  • In addition, industrial safety has to comply with regulatory standards. The safety standards are regularly updated according to technological advancements and new orders, resulting in the obligation on organizations to upgrade their safety systems. Such factors are expected to impede the growth of the studied market during the forecast period.
  • The COVID-19 pandemic negatively affected the oil & gas industry, with oil prices slashing drastically. A noticeable decline in the demand for oil and gas due to various regional government restrictions in 2020 resulted in a decline in demand for industrial safety systems. Further, chemicals and energy & power industries are also among the key end users of valves. These industries also witnessed reduced demand due to the global pandemic. However, these industries quickly gained momentum in mid-2021.

North America Safety Systems Industry Segmentation

The North America Safety Systems Market is Segmented by Safety System (Process Control Systems (PCS), Process Safety, System or Process Shutdown System (PSS), Safety Shutdown System (SSS), Fire and Gas System (FGS)), Component (Presence Sensing Safety Sensors, Programmable Safety Systems, Safety Controllers/Modules/ Relays, Safety Interlock Switches, Emergency Stop Controls, Two-Hand Safety Controls), End-User Industry (Oil & Gas, Energy & Power, Chemicals, Food & Beverage, Metals & Mining, Automotive), and Region.

By Safety System
Process Control Systems (PCS)
Process Safety System or Process Shutdown System (PSS)
Safety Shutdown System (SSS)
Fire and Gas System (FGS)
Others (emergency depressurization (EDP) systems, Pressure safety valves, Turbomachinery Control System )
By Component
Presence Sensing Safety Sensors
Programmable Safety Systems
Safety Controllers/Modules/ Relays
Safety Interlock Switches
Emergency Stop Controls
Two-Hand Safety Controls
Others
By End-User Industry
Oil & Gas
Energy & Power
Chemicals
Food & Beverage
Metals & Mining
Automotive
Others (Healthcare & Pharmaceuticals, Aerospace & Defense, etc.)
By Region
United States
Canada
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North America Safety Systems Market Size Summary

The North America Safety Systems Market is poised for significant growth, driven by the increasing adoption of industrial safety standards such as IEC 61508 and IEC 61511. These standards have heightened the reliance on safety systems to meet mandatory risk reduction targets, particularly in industries like food and beverage, where the demand for programmable safety systems is on the rise. The integration of Industrial Internet of Things (IIoT) technologies is further enhancing the market's prospects by enabling real-time monitoring and data analysis, which improves operational transparency and reduces compliance costs. However, the high costs associated with industrial safety components and the need for regular updates to comply with evolving regulatory standards pose challenges, especially for small and medium-sized enterprises.

The market is characterized by a moderate level of fragmentation, with key players such as Honeywell International Inc., Yokogawa Electric Corporation, and Emerson Electric Co. actively launching innovative products and forming strategic partnerships to meet the growing demand. The oil and gas industry, a major end-user, benefits from safety systems that mitigate risks associated with hazardous operations, particularly in remote and offshore locations. Despite the initial setbacks due to the COVID-19 pandemic, the industry has rebounded, driving the demand for safety systems. The market's growth is further supported by advancements in safety controllers and relays, which enhance workplace safety and operational efficiency across various sectors, including energy, power, and chemicals.

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North America Safety Systems Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

    4. 1.4 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Safety System

      1. 2.1.1 Process Control Systems (PCS)

      2. 2.1.2 Process Safety System or Process Shutdown System (PSS)

      3. 2.1.3 Safety Shutdown System (SSS)

      4. 2.1.4 Fire and Gas System (FGS)

      5. 2.1.5 Others (emergency depressurization (EDP) systems, Pressure safety valves, Turbomachinery Control System )

    2. 2.2 By Component

      1. 2.2.1 Presence Sensing Safety Sensors

      2. 2.2.2 Programmable Safety Systems

      3. 2.2.3 Safety Controllers/Modules/ Relays

      4. 2.2.4 Safety Interlock Switches

      5. 2.2.5 Emergency Stop Controls

      6. 2.2.6 Two-Hand Safety Controls

      7. 2.2.7 Others

    3. 2.3 By End-User Industry

      1. 2.3.1 Oil & Gas

      2. 2.3.2 Energy & Power

      3. 2.3.3 Chemicals

      4. 2.3.4 Food & Beverage

      5. 2.3.5 Metals & Mining

      6. 2.3.6 Automotive

      7. 2.3.7 Others (Healthcare & Pharmaceuticals, Aerospace & Defense, etc.)

    4. 2.4 By Region

      1. 2.4.1 United States

      2. 2.4.2 Canada

North America Safety Systems Market Size FAQs

The North America Safety Systems Market is projected to register a CAGR of 7.20% during the forecast period (2024-2029)

Honeywell International Inc., Mitsubishi Electric Corporation, Emerson Electric Co., Yokogawa Electric Corporation and Siemens AG are the major companies operating in the North America Safety Systems Market.

North America Safety Systems Report Snapshots

North America Safety Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)