Global Industrial Safety Integrated Components Market 2016-2020
- Published: Mar 2016
- Pages: 56
- SKU: IRTNTR9108
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This market research report provides a comprehensive analysis of the global industrial safety integrated components market by product (safety relay, transmitter, safety PLC, and safety switches), by end user (power, automotive, oil and gas, chemical and petrochemical, food and beverage, and others), and by geography (the Americas, APAC, and EMEA). Leading vendors in this market are ABB, Rockwell Automation, Schneider Electric, and Siemens.
Outlook for the global industrial safety integrated components market
Technavio’s market research analyst predicts the industrial safety integrated components market to grow at a modest CAGR of around 5% by the end of the forecast period. Since manufacturers are looking for ways to increase productivity with minimal downtime, the demand for automation across the industrial landscape is continually increasing. Plants across industries are being upgraded based on benchmarks set by the International Electro-technical Commission and International Organization for Standardization. Components include safety relays, switches, and even safety programmable logic controllers (PLCs). For instance, the role of a transmitter in an industrial process is very crucial. In the oil and gas industry, it helps to meter processes so that petroleum production is carried out efficiently.
Since automation is the need of the hour for every industry, high-voltage direct current (HDVC) converter technology is the way to supply much-needed power. HDVC technology makes it possible for companies to use energy from multiple sources like wind or hydro to provide a reliable and long-lasting power supply. Electronic switches or valves convert AC to DC and vice versa without any interruption. An increase in HDVC line installation is bound to heighten demand for safety relays, which are a major component of the integrated components market.
Segmentation by product and analysis of the industrial safety integrated components market
- Safety relay
- Safety plc
- Safety switches
Safety relays account for the biggest chunk of the components market and are expected to account for more than 46% of the overall market share by the end of the forecast period. Safety relays play an important role in the overall automation process as they help to detect faults in electrical circuits and shut equipment down whenever necessary. This is vital for eliminating damage to equipment and personnel. With a rise in the demand for electricity, the need for safety relays is going to stay high for the foreseeable future.
Geographical segmentation of the industrial safety integrated components market
The APAC region is the leader for integrated component use by market size. The market value is expected to reach USD 24 billion and higher by the end of the forecast period. Demand for these components is highest in the power, oil and gas, electronics, and automotive industries. In APAC, the developing economies are investing not just in infrastructure but also in industrial upgrades, which in turn will foster the need for industrial safety integrated components.
Competitive landscape and key vendors
This market is highly fragmented due to the presence of numerous international, regional, and local players. International vendors are actively increasing their presence in the market, and many local vendors find it difficult to compete on fronts such as quality and range of features. The environment is expected to intensify with innovations and even mergers between companies.
Key vendors in this market are -
- Rockwell Automation
- Schneider Electric
Other prominent vendors in this market are Beckhoff, Bosch Rexroth, GE, Hitachi, Honeywell International, IDEC, Itron, KEYENCE, KOYO ELECTRONICS, and Littelfuse.
Key questions answered in this report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the industrial safety integrated components market?
- What are the key market trends impacting the growth of the global industrial safety integrated components market?
- What are the challenges for the industrial safety integrated components market?
- Who are the key vendors in the global industrial safety integrated components market?
- What are the market opportunities and threats faced by the vendors in the industrial safety integrated components market?
- Trending factors influencing the market shares of the Americas, EMEA, and APAC.
- What are the key outcomes of the five forces analysis of the global industrial safety integrated components market?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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