Middle East and Africa Functional Safety Products Market, By Product (Safety Switches, Safety Sensor, Functional Safety Controllers, Emergency Stop Devices, Pressure Transmitters, Camera Systems, Functional Safety Valves, Others), Offering (Solution, Service), Industry Vertical (Oil and Gas, Chemical, Railways, Pulp and Paper, Automotive, Power generation, Food and Beverages, Pharmaceutical, Mining, Others), Country (United Arab Emirates, Saudi Arabia, Israel, South Africa, Egypt, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Middle East and Africa functional safety products market is expected to be growing at a growth rate of 9.40% in the forecast period of 2021 to 2028.
Functional safety products are system sub-components installed in industries, mainly to ensure the normal operation of the entire system. It also prevents many potential damages due to operation or hardware failure that could affect the output. Therefore, functional safety products are installed to avoid potential risks in the future. In addition, functional safety is also essential to prevent loss of life in manufacturing facilities. It provides automatic protection functions in installations by detecting and identifying bugs and threats.
The growing demand for safety systems in oil and gas industry and the rise in the industrial revolution 4.0 are the major drivers influencing the growth of the market. Also, growing demand for reliable safety system to ensure personnel and asset protection and introduction of favourable safety standards and government policies will enhance the growth of functional safety products market. Furthermore, availability of fiscal policy steps taken by regional financial institutes for the protection of manufacturing facilities among COVID-19 will cushion the growth of the market.
Moreover, upsurge in the usage of industrial internet of things and increase in the acceptance of workplace safety standards in emerging economies will create lucrative market growth opportunities.
However, high cost involved in the installation of functional safety systems and lack of awareness will decline the product sale and impede the market growth rate. The dearth of functional safety certified workforce and high complexity of safety applications will further challenge the functional safety products market.
This Middle East and Africa functional safety products market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on Middle East and Africa functional safety products market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Middle East and Africa Functional Safety Products Market Scope and Market Size
Middle East and Africa functional safety products market is segmented on the basis of product, offering and industry vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of product, the functional safety products market is segmented into safety switches, safety sensor, functional safety controllers, emergency stop devices, pressure transmitters, camera systems, functional safety valves and others. Safety switches have been further sub-segmented into electro-mechanical safety switches, safety locking devices, non-contact safety switches. Safety sensor has been further sub-segmented into fluid sensor, fiber-optic sensor, distance sensor, angle sensor and others. Fluid sensor has been divided into level sensor, flow sensor, pressure sensor and temperature sensor. Distance sensor has been divided into mid-range, long range, ultrasonic and others.
- On the basis of offering, the functional safety products market is segmented into solution and service. Solution has been further sub-segmented into turbomachinery control, fire and gas monitoring control, burner management system, emergency shutdown systems, high-integrity pressure protection systems, distributed control system, supervisory control and data acquisition systems, others. Service has been further sub-segmented into consulting and design, verification and optimization and training and education.
- On the basis of industry vertical, the functional safety products market is segmented into oil and gas, chemical, railways, pulp and paper, automotive, power generation, food and beverages, pharmaceutical, mining and others. Oil and gas has been further sub-segmented into onshore and offshore. Chemical has been further sub-segmented into organic chemicals, inorganic chemicals and specialty chemicals. Mining has been further sub-segmented into coal mining, metal mining and non-metallic mineral mining.
Middle East and Africa Functional Safety Products Market Country Level Analysis
Middle East and Africa functional safety products market is analysed and market size insights and trends are provided by country, product, offering and industry vertical as referenced above.
The countries covered in Middle East and Africa functional safety products market report are United Arab Emirates, Saudi Arabia, Israel, South Africa, Egypt, Rest of Middle East and Africa.
The country section of Middle East and Africa functional safety products market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Middle East and Africa Functional Safety Products Market Share Analysis
Middle East and Africa functional safety products market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Middle East and Africa functional safety products market.
The major players covered in Middle East and Africa functional safety products market report are Endress+Hauser Group Services AG, Yokogawa India Ltd., Siemens, MANGAN SOFTWARE SOLUTIONS, Balluff de México, ABB, OMRON Corporation, Honeywell International, Inc., Rockwell Automation, Inc., SICK AG, Pilz GmbH & Co. KG, K.A. Schmersal GmbH & Co. KG, HYDAC, Schneider Electric, Cadence Design Systems, Inc., Hitex GmbH, TÜV Rheinland, Intel Corporation, among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Middle East and Africa Functional Safety Products Market
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