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Published Date: 2017-11-15Number of Pages: 200

Process Safety System Market (Component - Hardware, Software, and Service; Safety Integrity Level - SIL 1, SIL 2, SIL 3, and SIL 4; Application - Burner Management System (BMS), Emergency Shutdown (ESD), High Integrity Pressure Protection System (HIPPS), and Turbo Machinery Control (TMC); End-use - Oil & Gas, Energy & Power, Chemical, Pharmaceutical, Food Processing, and Paper & Pulp) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Global Process Safety System Market: Snapshot

The foremost factor driving the global process safety system market is adoption of safe operational practices in process industries. The deployment of process safety system ensures prevention of explosions, accidental chemical releases, and fires in chemical and other hazardous industries. Further, deployment of process safety system prevents operational disruption due to equipment malfunction, over-temperature, metal fatigue, over-pressure, spills, leaks, and other factors.

On the downside, negligence to adopt contingency measures to combat process pitfalls is challenging the growth of global process safety system market.

A report by Transparency Market Research (TMR) estimates the global process safety system market to expand at a CAGR of 7.0% between 2017 and 2025, for the market to be evaluated at US$5,287.8 mn by the end of 2025.

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Oil and Gas to Remain Attractive End-use Segment due to Ageing of Existing Safety Systems

The global process safety system market is segmented on the basis of component, safety integrity level, application, end-use, and region in this report. The key component segments include hardware, software, and service. In 2016, hardware led the market vis-à-vis revenue followed by service. However, software segment is anticipated to rise at the leading growth rate during the forecast period owing to higher adoption of software by large industries and to enhance operational capabilities and to integrate safety systems in their processes.

On the basis of safety integrity level, the process safety system market is classified into SIL 1, SIL 2, SIL 3, and SIL 4. Of them, in 2016, SIL 1 led the market holding the leading share due to its widespread use in end use industries.

In terms of application, the segments into which the process safety system market is classified are burner management system (BMS), emergency shutdown (ESD), high integrity pressure protection system (HIPPS), turbo machinery control (TMC), and others. The emergency shutdown segment held the leading market share in 2016; going forward the segment is anticipated to display the leading CAGR over the forecast period.

By end-use, the process safety system market is classified into oil and gas, energy and power, chemical, pharmaceutical, food processing, paper and pulp, and others. Among the end users, oil and gas currently holds the leading market share. This is mainly because safety systems in the oil and gas industry are ageing that needs to be replaced by new ones. Nevertheless, end users of process safety system demand safety lifecycle management software to carry out operations safely.

Powered by China and India, Asia Pacific to Report Stellar Growth

In terms of geography, the global process safety system market is bifurcated into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. In 2016, North America stood as the leading regional market for process safety system due to a robust infrastructure and government policies that mandate deployment of safety procedure in process industries for timely alerts. The region is also anticipated to dominate amongst other key regions for process safety system over the forecast period. Moreover, enterprises are opting to adopt process safety system technology due to increased awareness for safety processes. Due to this, process safety incidents have dropped by 4.8% between 2015 and 2016 in the U.S., as reported by BASF.

On the other hand, Asia Pacific process safety system market is anticipated to display stellar growth displaying the leading CAGR over the forecast period. The increasing adoption of process safety system technology by small and medium enterprises in the region is contributing substantially to the growth of this market. Increasing investments for technology-driven processes will account China and India to be at the forefront of adoption of process safety system technology over the forecast period.

Key players in the global process safety system market include General Electric Company, Rockwell Automation Inc., ABB Ltd., Emerson Electric Co., Honeywell International Inc., HIMA Paul Hildebrandt GmbH, Integraph Corporation, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation among others. 

Global Process Safety System Market: Overview

The global process safety system (PSS) market report provides analysis for the period 2015–2025, wherein the period from 2017 to 2025 is the forecast period and 2016 is the base year. The report covers all the major trends and technologies playing a vital role in process safety system market growth over the forecast period. It also highlights the drivers, restraints, and opportunities expected to influence market’s growth during the said period. The study provides a holistic perspective on the PSS market’s growth throughout the above mentioned forecast period in terms of revenue (in US$ Mn), across different geographies, including North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and South America.

The market overview section of the report demonstrates the market dynamics and trends, such as the drivers, restraints, and opportunities that influence the current nature and future status of this market. An attractiveness analysis has also been provided for every geographic region in the report, in order to give a thorough analysis of the overall competitive scenario of the process safety system market, globally. Moreover, the report provides an overview of the various strategies of key players operating in the market. Introduction and market definition chapter helps in understanding different technologies of PSS along with their applications which are included in the report.

Global Process Safety System Market: Market Segmentation

The report segments the global process safety system market on the basis of component into hardware, software and service. Thus, the report provides in-depth cross-segment analysis of the process safety system market and classifies it into various levels, thereby providing valuable insights at the macro as well as micro levels. Further, the PSS market is segmented on the basis of safety integrity level into SIL1, SIL2, SIL3 and SIL4. The PSS application market is classified into burner management system (BMS), emergency shutdown (ESD), high integrity pressure protection system (HIPPS), turbo machinery control (TMC) and others. Process safety system is also segmented on the basis of end-use into Oil & Gas, Energy & Power, Chemical, Pharmaceutical, Food Processing, Paper & Pulp and others (Water & Waste Water Management, Paint & Coating etc.).

On the basis of country, North American market is divided into The U.S., Canada and Rest of North America. Similarly, Europe market is segmented into The U.K., Germany, France and Rest of Europe. Asia Pacific has been segmented into China, Japan, India and Rest of Asia Pacific. Middle East and Africa covers the GCC countries, South Africa and Rest of Middle East and Africa. Similarly, South American region includes Brazil and Rest of South America. This report provides all the essential information required to understand the process safety systems and its components. Furthermore, Porter’s Five Forces analysis explains the factors which are currently affecting the market. This report also provides the value chain analysis for the PSS market which explains the participants of the value chain.

Global Process Safety System Market: Competitive Landscape

The report also highlights the competitive landscape of the PSS market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive optical character recognition market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the process safety system market’s growth.

Some of the key players operating in PSS market with most significant development include ABB Ltd., Emerson Electric Co., General Electric Co., HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Intergraph Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG and Yokogawa Electric Corporation among others. Details such as financials, SWOT analysis, business strategies, recent developments, and other such strategic information pertaining to these players have been duly provided as part of company profiling.

The global process safety system market is segmented as follows:

Process Safety System Market Analysis, by Component

  • Hardware
  • Software
  • Service

Process Safety System Market Analysis, by Safety Integrity Level

  • SIL1
  • SIL2
  • SIL3
  • SIL4

Process Safety System Market Analysis, by Application

  • Burner Management System (BMS)
  • Emergency Shutdown (ESD)
  • High Integrity Pressure Protection System (HIPPS)
  • Turbo Machinery Control (TMC)
  • Others

Process Safety System Market Analysis, by End-use

  • Oil and Gas
  • Energy and Power
  • Chemical
  • Pharmaceutical
  • Food Processing
  • Paper and Pulp
  • Others (Water and Waste Water Management, Paint and Coating)

Process Safety System Market Analysis, by Region

  • North America
    • The U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • The U.K.
    • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Rest of Asia Pacific
  • Middle-East & Africa
    • GCC Countries
    • South Africa
    • Rest of MEA
  • South America
    • Brazil
    • Rest of South America


 
 
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