Market Overview:
The global lockout tagout equipment market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for lockout tagout equipment in various industries such as energy & power, machinery, petrochemical, chemical and other industries. Moreover, the stringent safety regulations across different geographies are also fueling the demand for lockout tagout equipment in the global market. Based on type, the electrical equipment lockouts segment is projected to lead the global lockout tagout equipment market during 2018-2030. This can be attributed to increasing adoption of electrical lockouts by various end-use industries owing to its benefits such as easy installation and operation and tamper-proof design.
Product Definition:
A lockout tagout is a physical means of preventing an energy source from being turned on or off. Lockout tagouts are used in many industries to protect employees from the unexpected start up of machinery or energy sources.
Electrical Equipment Lockouts:
Lockout/Tagout Equipment is a safety device that prevents the operation of equipment when there is an emergency situation. It includes devices such as circuit breakers, fuses, and electrical cut-off switches. These devices are used in industries such as manufacturing, transportation and energy sectors for preventing accidents caused by unexpected surges or drops in the voltage supply to machines or systems.
The global Electrical Equipment Lockouts market was valued at USD 1.6 billion in 2015.
Valve Lockouts:
Valve lockouts are safety devices used to prevent the flow of fluid through a valve. They are installed on valves that can be operated by children, adults, or robots. Valve lockouts have an electronic mechanism that prevents the valve from opening and closing completely. The device is activated when a certain force is applied to the handle of the valve or if any part of the child approaches it.
Application Insights:
The energy & power industry accounted for the largest market share in 2017 and is anticipated to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing demand for LOTO equipment in power generation plants, coal mines, and oil & gas facilities among other industries such as food & beverage and healthcare.
In addition, growing concerns regarding safety coupled with rising awareness about prevention of accidents are expected to drive the demand from other industries such as chemical plant automation over the forecast period. Furthermore, stringent government regulations pertaining to safety are also expected fuel industry growth during future years.
Regional Analysis:
North America was the largest regional market in 2017 and will expand further at a steady CAGR from 2018 to 2030. This is due to the stringent regulatory framework in this region for safety of workers, which has resulted in increased adoption of GLO/lockout systems across various industries. For instance, according to OSHA 2015 statistics, there were over 4 million workplace injuries and nearly 140 fatalities occurred every day as a result of job-related accidents. Moreover, increasing awareness about employee health & safety among companies is also expected to drive demand for GLO/ lockout systems during the forecast period.
Asia Pacific is anticipated to be one of the fastest growing regions with a CAGR exceeding 6% during the forecast period owing to rapid industrialization along with rising energy prices and economic development that have led major oil & gas producing countries such as China and India towards adopting lockdown procedures for their cities on account of terrorist attacks or other emergencies such as fire outbreak or natural calamities affecting public order.
Growth Factors:
- Increasing awareness about the importance of lockout tagout equipment for workplace safety
- Growing demand from end-use industries, such as automotive, oil & gas, and manufacturing
- Technological advancements in lockout tagout equipment that improve safety and efficiency
- Rising demand from emerging markets in Asia Pacific and Latin America
- Growing number of compliance regulations for safe use of lockout tagout equipment
Scope Of The Report
Report Attributes
Report Details
Report Title
Lockout Tagout Equipment Market Research Report
By Type
Electrical Equipment Lockouts, Valve Lockouts, Others
By Application
Energy & Power Industry, Machinery Industry, Petrochemical Industry, Chemical Industry, Other Industries
By Companies
Master Lock, Brady, Panduit, ABUS, Honeywell, American Lock, ESC Services, Castell, ZING Green Safety Products, Beijing TEHS, Accuform Manufacturing
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Lockout Tagout Equipment Market Report Segments:
The global Lockout Tagout Equipment market is segmented on the basis of:
Types
Electrical Equipment Lockouts, Valve Lockouts, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Energy & Power Industry, Machinery Industry, Petrochemical Industry, Chemical Industry, Other Industries
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Master Lock
- Brady
- Panduit
- ABUS
- Honeywell
- American Lock
- ESC Services
- Castell
- ZING Green Safety Products
- Beijing TEHS
- Accuform Manufacturing
Highlights of The Lockout Tagout Equipment Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Electrical Equipment Lockouts
- Valve Lockouts
- Others
- By Application:
- Energy & Power Industry
- Machinery Industry
- Petrochemical Industry
- Chemical Industry
- Other Industries
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Lockout Tagout Equipment Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Lockout tagout equipment is a specialized piece of safety equipment used in the workplace to prevent workers from being injured by energized lines, cables, and other dangerous objects. Lockout tagout devices include lanyards, clamps, and tags that are attached to energized lines or cables. When activated by an emergency signal or warning system, the device prevents workers from coming into contact with the energized line or cable.
Some of the major players in the lockout tagout equipment market are Master Lock, Brady, Panduit, ABUS, Honeywell, American Lock, ESC Services, Castell, ZING Green Safety Products, Beijing TEHS, Accuform Manufacturing.
The lockout tagout equipment market is expected to grow at a compound annual growth rate of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Lockout Tagout Equipment Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Lockout Tagout Equipment Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Lockout Tagout Equipment Market - Supply Chain
4.5. Global Lockout Tagout Equipment Market Forecast
4.5.1. Lockout Tagout Equipment Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Lockout Tagout Equipment Market Size (000 Units) and Y-o-Y Growth
4.5.3. Lockout Tagout Equipment Market Absolute $ Opportunity
5. Global Lockout Tagout Equipment Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Lockout Tagout Equipment Market Size and Volume Forecast by Type
5.3.1. Electrical Equipment Lockouts
5.3.2. Valve Lockouts
5.3.3. Others
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Lockout Tagout Equipment Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Lockout Tagout Equipment Market Size and Volume Forecast by Application
6.3.1. Energy & Power Industry
6.3.2. Machinery Industry
6.3.3. Petrochemical Industry
6.3.4. Chemical Industry
6.3.5. Other Industries
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Lockout Tagout Equipment Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Lockout Tagout Equipment Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Lockout Tagout Equipment Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Lockout Tagout Equipment Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Lockout Tagout Equipment Demand Share Forecast, 2019-2026
9. North America Lockout Tagout Equipment Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Lockout Tagout Equipment Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Lockout Tagout Equipment Market Size and Volume Forecast by Application
9.4.1. Energy & Power Industry
9.4.2. Machinery Industry
9.4.3. Petrochemical Industry
9.4.4. Chemical Industry
9.4.5. Other Industries
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Lockout Tagout Equipment Market Size and Volume Forecast by Type
9.7.1. Electrical Equipment Lockouts
9.7.2. Valve Lockouts
9.7.3. Others
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Lockout Tagout Equipment Demand Share Forecast, 2019-2026
10. Latin America Lockout Tagout Equipment Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Lockout Tagout Equipment Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Lockout Tagout Equipment Market Size and Volume Forecast by Application
10.4.1. Energy & Power Industry
10.4.2. Machinery Industry
10.4.3. Petrochemical Industry
10.4.4. Chemical Industry
10.4.5. Other Industries
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Lockout Tagout Equipment Market Size and Volume Forecast by Type
10.7.1. Electrical Equipment Lockouts
10.7.2. Valve Lockouts
10.7.3. Others
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Lockout Tagout Equipment Demand Share Forecast, 2019-2026
11. Europe Lockout Tagout Equipment Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Lockout Tagout Equipment Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Lockout Tagout Equipment Market Size and Volume Forecast by Application
11.4.1. Energy & Power Industry
11.4.2. Machinery Industry
11.4.3. Petrochemical Industry
11.4.4. Chemical Industry
11.4.5. Other Industries
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Lockout Tagout Equipment Market Size and Volume Forecast by Type
11.7.1. Electrical Equipment Lockouts
11.7.2. Valve Lockouts
11.7.3. Others
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Lockout Tagout Equipment Demand Share, 2019-2026
12. Asia Pacific Lockout Tagout Equipment Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Lockout Tagout Equipment Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Lockout Tagout Equipment Market Size and Volume Forecast by Application
12.4.1. Energy & Power Industry
12.4.2. Machinery Industry
12.4.3. Petrochemical Industry
12.4.4. Chemical Industry
12.4.5. Other Industries
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Lockout Tagout Equipment Market Size and Volume Forecast by Type
12.7.1. Electrical Equipment Lockouts
12.7.2. Valve Lockouts
12.7.3. Others
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Lockout Tagout Equipment Demand Share, 2019-2026
13. Middle East & Africa Lockout Tagout Equipment Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Lockout Tagout Equipment Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Lockout Tagout Equipment Market Size and Volume Forecast by Application
13.4.1. Energy & Power Industry
13.4.2. Machinery Industry
13.4.3. Petrochemical Industry
13.4.4. Chemical Industry
13.4.5. Other Industries
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Lockout Tagout Equipment Market Size and Volume Forecast by Type
13.7.1. Electrical Equipment Lockouts
13.7.2. Valve Lockouts
13.7.3. Others
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Lockout Tagout Equipment Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Lockout Tagout Equipment Market: Market Share Analysis
14.2. Lockout Tagout Equipment Distributors and Customers
14.3. Lockout Tagout Equipment Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Master Lock
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Brady
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. Panduit
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. ABUS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Honeywell
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. American Lock
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. ESC Services
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Castell
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. ZING Green Safety Products
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Beijing TEHS
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Accuform Manufacturing
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
