The Impact of COVID-19 is included in Safety Instrumented System Market Report. Buy it today to get an advantage.
Request the impact of COVID-19 on your product or industry
Safety Instrumented System Trends and Forecast
The future of the global safety instrumented system market looks promising with opportunities in the energy & power, pharmaceutical, mining, food and beverage, oil & gas, and chemical & petroleum refinery markets. The global safety instrumented system market is expected to reach an estimated $7.2 billion by 2030 with a CAGR of 7.2% from 2024 to 2030. The major drivers for this market are rising regulations and safety standards in various industries to adopt safety instrumented systems to ensure compliance and prevent accidents, growing demand for SIS system in petrochemical, mining and gas compression industry, as well as, increasing adoption of various kinds of sensors in this system.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Safety Instrumented System by Segment
The study includes a forecast for the global safety instrumented system by component, product, end use, and region.
Safety Instrumented System Market by Component [Shipment Analysis by Value from 2018 to 2030]:
• Sensors
• Switches
• Programmable Devices
• Actuators and Valves
• Others
Safety Instrumented System Market by Product [Shipment Analysis by Value from 2018 to 2030]:
• Emergency Shutdown System
• Safety Interlock System
• Safety Shutdown System
• Fire & Gas Monitoring and Control System
• Burner Management System
• Turbo Machinery Control
• High Integrity Pressure Protection System
Safety Instrumented System Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Energy & Power
• Pharmaceutical
• Mining
• Food and Beverage
• Oil & Gas
• Chemical & Petroleum Refinery
• Others
Safety Instrumented System Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Safety Instrumented System Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies safety instrumented system companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the safety instrumented system companies profiled in this report include-
• Emerson Process Management
• Rockwell Automation
• Johnson Controls
• General Electric Company
• Yokogawa Electric
• Omron Corporation
• Honeywell
• ABB
• Tyco International
• Siemens
Safety Instrumented System Market Insights
Lucintel forecasts that emergency shutdown system will remain the largest segment over the forecast period because it is is designed to reduce the results of emergency situations such as break out of hydrocarbons, uncontrolled flooding and occurrence of fire owing to the leakage of gases in various industries.
APAC will remain the largest region over the forecast period due to rising adoption of stringent government rules and regulations regarding safety of pants and workers, growing popularity of industrial automation systems and rising market for manufacturing output from countries like China, Japan and South Korea.
Features of the Global Safety Instrumented System Market
Market Size Estimates: Safety instrumented system market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Safety instrumented system market size by component, product, end use, and region in terms of value ($B).
Regional Analysis: Safety instrumented system market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different component, product, end use, and regions for the safety instrumented system market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the safety instrumented system market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q.1 What is the safety instrumented system market size?
Answer: The global safety instrumented system market is expected to reach an estimated $7.2 billion by 2030.
Q.2 What is the growth forecast for safety instrumented system market?
Answer: The global safety instrumented system market is expected to grow with a CAGR of 7.2% from 2024 to 2030.
Q.3 What are the major drivers influencing the growth of the safety instrumented system market?
Answer: The major drivers for this market are rising regulations and safety standards in various industries to adopt safety instrumented systems to ensure compliance and prevent accidents, growing demand for SIS system in petrochemical, mining and gas compression industry, as well as, increasing adoption of various kinds of sensors in this system.
Q4. What are the major segments for safety instrumented system market?
Answer: The future of the global safety instrumented system market looks promising with opportunities in the energy & power, pharmaceutical, mining, food and beverage, oil & gas, and chemical & petroleum refinery markets.
Q5. Who are the key safety instrumented system market companies?
Answer: Some of the key safety instrumented system companies are as follows:
• Emerson Process Management
• Rockwell Automation
• Johnson Controls
• General Electric Company
• Yokogawa Electric
• Omron Corporation
• Honeywell
• ABB
• Tyco International
• Siemens
Q6. Which safety instrumented system market segment will be the largest in future?
Answer: Lucintel forecasts that emergency shutdown system will remain the largest segment over the forecast period because it is is designed to reduce the results of emergency situations such as break out of hydrocarbons, uncontrolled flooding and occurrence of fire owing to the leakage of gases in various industries.
Q7. In safety instrumented system market, which region is expected to be the largest in next 5 years?
Answer: Within this market, chemical & petroleum refinery will remain the largest segment over the forecast period due to rising risks of fire and gas leakage incidents in chemical and petrochemical industry, as well as, growing need to avoid such conditions.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the safety instrumented system market by component (sensors, switches, programmable devices, actuators and valves, and others), product (emergency shutdown system, safety interlock system, safety shutdown system, fire & gas monitoring and control system, burner management system, turbo machinery control, and high integrity pressure protection system), end use (energy & power, pharmaceutical, mining, food and beverage, oil & gas, chemical & petroleum refinery, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Safety Instrumented System Market, Safety Instrumented System Market Size, Safety Instrumented System Market Growth, Safety Instrumented System Market Analysis, Safety Instrumented System Market Report, Safety Instrumented System Market Share, Safety Instrumented System Market Trends, Safety Instrumented System Market Forecast, Safety Instrumented System Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.
Table of Contents
1. Executive Summary
2. Global Safety Instrumented System Market : Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2018 to 2030
3.1. Macroeconomic Trends (2018-2023) and Forecast (2024-2030)
3.2. Global Safety Instrumented System Market Trends (2018-2023) and Forecast (2024-2030)
3.3: Global Safety Instrumented System Market by Component
3.3.1: Sensors
3.3.2: Switches
3.3.3: Programmable Devices
3.3.4: Actuators and Valves
3.3.5: Others
3.4: Global Safety Instrumented System Market by Product
3.4.1: Emergency Shutdown System
3.4.2: Safety Interlock System
3.4.3: Safety Shutdown System
3.4.4: Fire & Gas Monitoring and Control System
3.4.5: Burner Management System
3.4.6: Turbo Machinery Control
3.4.7: High Integrity Pressure Protection System
3.5: Global Safety Instrumented System Market by End Use
3.5.1: Energy & Power
3.5.2: Pharmaceutical
3.5.3: Mining
3.5.4: Food and Beverage
3.5.5: Oil & Gas
3.5.6: Chemical & Petroleum Refinery
3.5.7: Others
4. Market Trends and Forecast Analysis by Region from 2018 to 2030
4.1: Global Safety Instrumented System Market by Region
4.2: North American Safety Instrumented System Market
4.2.1: North American Safety Instrumented System Market by Product: Emergency Shutdown System, Safety Interlock System, Safety Shutdown System, Fire & Gas Monitoring and Control System, Burner Management System, Turbo Machinery Control, and High Integrity Pressure Protection System
4.2.2: North American Safety Instrumented System Market by End Use: Energy & Power, Pharmaceutical, Mining, Food and Beverage, Oil & Gas, Chemical & Petroleum Refinery, and Others
4.3: European Safety Instrumented System Market
4.3.1: European Safety Instrumented System Market by Product: Emergency Shutdown System, Safety Interlock System, Safety Shutdown System, Fire & Gas Monitoring and Control System, Burner Management System, Turbo Machinery Control, and High Integrity Pressure Protection System
4.3.2: European Safety Instrumented System Market by End Use: Energy & Power, Pharmaceutical, Mining, Food and Beverage, Oil & Gas, Chemical & Petroleum Refinery, and Others
4.4: APAC Safety Instrumented System Market
4.4.1: APAC Safety Instrumented System Market by Product: Emergency Shutdown System, Safety Interlock System, Safety Shutdown System, Fire & Gas Monitoring and Control System, Burner Management System, Turbo Machinery Control, and High Integrity Pressure Protection System
4.4.2: APAC Safety Instrumented System Market by End Use: Energy & Power, Pharmaceutical, Mining, Food and Beverage, Oil & Gas, Chemical & Petroleum Refinery, and Others
4.5: ROW Safety Instrumented System Market
4.5.1: ROW Safety Instrumented System Market by Product: Emergency Shutdown System, Safety Interlock System, Safety Shutdown System, Fire & Gas Monitoring and Control System, Burner Management System, Turbo Machinery Control, and High Integrity Pressure Protection System
4.5.2: ROW Safety Instrumented System Market by End Use: Energy & Power, Pharmaceutical, Mining, Food and Beverage, Oil & Gas, Chemical & Petroleum Refinery, and Others
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Safety Instrumented System Market by Component
6.1.2: Growth Opportunities for the Global Safety Instrumented System Market by Product
6.1.3: Growth Opportunities for the Global Safety Instrumented System Market by End Use
6.1.4: Growth Opportunities for the Global Safety Instrumented System Market by Region
6.2: Emerging Trends in the Global Safety Instrumented System Market
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Safety Instrumented System Market
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Safety Instrumented System Market
6.3.4: Certification and Licensing
7. Company Profiles of Leading Players
7.1: Emerson Process Management
7.2: Rockwell Automation
7.3: Johnson Controls
7.4: General Electric Company
7.5: Yokogawa Electric
7.6: OMRON Corporation
7.7: Honeywell
7.8: ABB
7.9: Tyco International
7.10: Siemens
.
Buy full report or by chapter as follows
Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
In-depth interviews of the major players in this market
Detailed secondary research from competitors’ financial statements and published data
Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process.
Please sign in below to get report brochure - Safety Instrumented System Market Report.