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Asia Pacific excluding Japan is projected to grow at a significant rate during the forecast period. Moreover, government initiatives in India like “Make in India” is expected to drive the growth of manufacturing industry which in turn is expected to drive the growth of workplace safety systems. The workplace safety systems market is highly fragmented and the major players are focused on innovations and launching of new products in order to create a healthy working environment.
Global Workplace Safety System Market Dynamics
The increasing concerns regarding workers’ safety is one of the major factor driving the growth of the workplace safety system market. Additionally, the increasing demand from the oil & gas, manufacturing, and chemical industries is expected to propel the growth of the workplace safety system market.
Moreover, mandatory regulation stated by NIOSH (National Institute of Occupational Safety and Health), NFPA (National Fire Protection Association) and OSHA (Occupational Safety and Health Administration) are driving the industries for compulsory usage of these safety systems which in turn will drive the growth of the workplace safety systems market.
Increasing use of automation equipment in various industries is anticipated to curb the growth of the global workplace safety system market. Additionally, high initial cost and presence of knock-offs in the market are expected to hamper the growth the market.
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Global Workplace Safety System Market: Segmentation
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| On the basis of applications |
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Global Workplace Safety System Market: Region Wise Outlook
North America is expected to be the most promising value generating workplace safety system market in terms of adoption and value generation during the forecast period. Strict regulation by ANSI (American National Standard Institutes), CSA (Canadian Standards Association) and OSHA is expected to propel the demand of workplace safety systems in North America.
Asia Pacific is projected to grow at a significant rate during the forecast period due to increase in manufacturing and construction industries in emerging economies like China, India, Vietnam, and Indonesia. Europe is anticipated to witness steady growth over the forecast period.
Global Workplace Safety System Market: Key Players
Some of the players identified in the workplace safety system market are as follows; Honeywell International Inc., Arco Limited, 3M, E.I. du Pont Nemours and Company, J&K Ross Ltd., MSA, Alpha Pro Tech Ltd., NuSafe, Seton Australia, and Conney Safety Products among others.
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