Energy & power industry to hold the largest share for machine safety during Forecast Period

The global demand for energy is increasing rapidly. This is pushing the energy & power industry to utilize available resources efficiently and reduce asset downtime while enhancing their performance. Machine safety systems such as burner management systems, fire, and gas monitoring controllers, and emergency shutdown systems are widely integrated into power plants. Fire and gas monitoring solutions are especially deployed in power plants and substations due to applicable laws and regulations. The energy & power industry has been largely affected by the COVID-19 outbreak. However, many power companies are helping communities by keeping their assets online and supplying electricity and natural gas. The power sector has mainly been hit due to the declined demand from manufacturing and production plants.