HSE Consulting and Training Services Market Expected to Reach US$ 59,832.1 Mn

Posted by surendra choudhary on August 13th, 2019

According to a new market, report published by Transparency Market Research the global HSE consulting and training services market was valued at US$ 35,074.2 Mn in 2017. It is expected to reach a value of US$ 59,832.1 Mn by 2027, expanding at a CAGR of 5.9% from 2019 to 2027. According to the report, North America and Europe together accounted for more than 50% share of the global market in 2018.

Stringent Policies and Regulations Regarding Safety of Workers Drives the Market

Health, safety, and environment services are used by businesses to ensure employee safety at the workplace. Governments are actively executing HSE services across several industry verticals to follow environmental and occupational safety standards. The growing awareness about workspace and employee safety coupled with growing efforts toward maintaining safety have led the HSE consulting and training services market to grow at substantial speed. Government rules and regulations about workers safety is a driving factor for the market. For instance, the Australian government has passed the Work Health and Safety Act 2011 which is aimed at protecting the safety, health, and environment of all workers at the workplace. It also protects the safety and health of other people who might get affected by the work.

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HSE Consulting and Training Services Market: Scope of the Report

The global market for HSE consulting and training services has been segmented based on services, service type, industry, and geography. Based on services, the market has been classified into training and consulting. Training services dominate the market, as it is mandatory for companies to offer health and safety training services to employees as governments have framed stringent rules and acts for workforce safety.

In terms of service type, the market has been divided into risk assessment/management, accident reporting, hazard analysis management, contract management, process mapping, incident investigation & claims management, program development & audits, industrial hygiene, occupational health services, and others (laboratory services etc.). The industrial hygiene segment has been further sub-segmented into exposure monitoring, noise dosimetry and area monitoring, asbestos surveying, chemical hazard sampling, air quality assessments, environmental site assessments, and others (ventilation assessment etc.). The environmental site assessments sub-segment has been further divided into due diligence and subsurface investigations. The occupational health services segment has been further split into process standardization (posture, lifting etc.), medical data analysis, violence and harassment risk assessment, emergency response assessment, and ergonomic consulting.

Based on industry, the market has been divided into manufacturing, utilities, government, construction and real estate, logistics and transportation, and others. The manufacturing segment has been further sub-segmented into automotive & discrete manufacturing, and process manufacturing. The automotive & discrete manufacturing segment has been further split into mechanical & plant engineering, aviation, and defense. The process manufacturing sub-segment has been further divided into metal, chemical, pharmaceutical, oil, gas & mining, and pulp & paper. The manufacturing segment held a major share of the market, in terms of revenue, in 2018, as the risk involved with this industry is higher as compared to that in other industries.

In terms of geography, the global HSE consulting and training services market has been segmented into North America, Asia Pacific, Europe, South America, and Middle East & Africa. North America dominates the global HSE consulting and training services market. The U.S. is expected to account for a prominent share of the market in North America by the end of 2019, as companies need to offer HSE training to their employees under the regulatory framework, such as OHSAS- 18001, ISO1400,1, and other applicable national laws and international standards.

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Global HSE Consulting and Training Services Market: Competitive Dynamics

Major industry players in the HSE consulting and training services market are adopting different strategic initiatives such as mergers and acquisitions, partnerships, and collaborations for technologies and new product development.

The global HSE consulting and training services market includes key players such as Bureau Veritas SA, RPS Group PLC, WHA Services, STS Consulting Services, LLC, STE Group, HSE Consulting, World Star HSE, Sigma-HSE Ltd., IRESC, and ESIS, Inc. (ESIS).