Industrial Safety Market Size to Grow at a CAGR of 8.56% During the Period 2021-2026
Industrial Safety Market size was valued at $3.2 billion in 2020 and it is estimated to grow at a CAGR of 8.56% during the period 2021-2026. Strict safety mandates and regulations coupled with high requirements for reliable safety equipments such as Presence Sensing Sensors, Emergency Stop Devices, Safety Switches, Final Control Element, Electrical safety gloves and others across industries, drives the growth of Industrial safety market. Apart from that, rapid industrialization in the developing countries, creates a huge requirement for safety tools at both personal and organizational levels, which in turn, drives the adoption rate of the industrial safety systems. Furthermore, increasing number of industrial accidents along with growing awareness regarding the importance and the benefits of safety measures plays a major role in the growth of industrial safety industry. Industrial Safety Market Segment Analysis – by Component By component, this market is segmented into Safe...