Occupational Health and Workplace Safety Services in the US Industry Market Research Report Now Available from IBISWorld

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The Occupational Health and Workplace Safety Services industry has remained relatively strong in the past five years, while weathering a volatile economic environment. In the five years to 2012, revenue is expected to increase at an average annual rate of 2.0% to $5.5 billion. However, the economic downturn in late 2008 and 2009 caused many downstream customers, such as mining companies and the construction market, to reduce production and lay off employees. Demand has risen since then, and In 2012, revenue is expected to increase by 4.5%. Over the next five years, new regulations and fines implemented by specific states and OSHA will likely propel revenue. For this reason, industry research firm IBISWorld has added a report on the Occupational Health and Workplace Safety Services industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Improved downstream markets and new OSHA regulations will bolster industry demand

The Occupational Health and Workplace Safety Services industry has remained relatively strong in the past five years, while weathering a volatile economic environment. In the five years to 2012, revenue is expected to increase at an average annual rate of 2.0% to $5.5 billion; though this growth has not been steady. The economic downturn in late 2008 and 2009 caused many of the industry's downstream customers, such as mining companies and the construction market, to reduce their product levels and lay off employees. According to IBISWorld industry analyst Mary Nanfelt, “with fewer workers and projects, demand for the industry's services declined during the recession.” Nevertheless, when the economy began to recover in 2010, demand quickly returned, boosting revenue. In 2012, industry revenue is expected to increase by 4.5%.

In addition to changes in demand from downstream customers, changes in workplace safety enforcement and regulation also affected the industry. The US Department of Labor's Occupational Safety and Health Administration (OSHA) enforces regulation regarding workplace safety for employees. According to Nanfelt, “the administration increased its enforcement during the past five years, which caused more companies to demand industry services to avoid government penalties.”

Similar to the past three years, demand from key customers will continue to increase over the next five years, supporting industry growth. Demand from the construction industry will particularly benefit the industry, as it rebounds from the housing crisis and slowdown in commercial building. Also, new regulation and fines implemented by specific states and OSHA will likely propel industry revenue. As revenue continues to grow, the number of industry firms will increase. In the five years to 2017, enterprise numbers are forecast to rise by an average of 5.7% per year to 37,425. The Occupational Health and Workplace Safety Services industry is comprised primarily of many small-scale operators that concentrate activities in narrow geographic regions or niche markets. Nevertheless, the industry does have several major companies, including DuPont, Bureau Veritas and Marsh and McLennan Companies.

For more information visit IBISWorld’s Occupational Health and Workplace Safety Services in the US industry page

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This industry provides advice and assistance to organizations and companies to assure safe and healthy working conditions for employees. Firms provide training, outreach, education and assistance.

IBISWorld industry Report Key Topics

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld
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