Safety Instrumentation Systems Market

Safety Instrumentation Systems Market: Market Dynamics

Drivers                                    

Rise in automotive manufacturing across the globe is a major factor expected to drive the safety instrumentation systems market over the forecast period. Moreover, labor unions insisting on suitable safety measures in oil and gas and power generation industries will further drive the safety instrumentation systems market over the forecast period. That apart, safety regulations executed by governments and increasing adoption of safety instrumentation systems in power generation will also add to the growth of market. Additionally, high demand for SIS in developing regions and arrival of new technologies, such as Internet of Things (IOT), are expected to further boost the market.

Restraint

Lack of awareness and complexity of standards in different applications are some of the factors which may hamper the growth of the safety instrumentation systems market over the forecast period. Similarly, the high cost and low response rate of safety instrumentation systems (SIS) will act as major restraining factors for the growth of safety instrumentation systems market during the forecast period.     

Safety Instrumentation Systems Market: Region-Wise Outlook

The European region is expected to be largest growing market due to rising demand for industrial safety measures to minimize accidents in case safety limits are exceeded. North America is expected to dominate the safety instrumentation systems market due to growing consumer awareness and expansion of medical industrial market. Asia Pacific region is expected to witness highest CAGR during the forecast period owing to the growing awareness regarding safety, emergence of new technologies and high demand for safety instrumentation systems in developing countries.

Safety Instrumentation Systems Market: Market Participants

Some of the market participants identified across the value chain of the global safety instrumentation systems market include:

• ABB Ltd.
• Emerson Process Management
• Honeywell International Inc.
• Schneider Electric SE
• General Electric Company
• Rockwell Automation Inc.
• Siemens AG
• Yokogawa Electric Corporation
• OMRON Corporation
• Johnson Control, Inc.
• Tyco International Plc.
• HIMA Paul Hildebrandt GmbH

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report covers exhaustive analysis on:

• Market Segments
• Market Dynamics
• Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies involved
• Technology
• Value Chain

Regional analysis includes

• North America (U.S., Canada)
• Latin America (Mexico, Brazil and Rest of Latin America)
• Western Europe (Germany, Italy, France, U.K, Spain,)
• Eastern Europe (Poland, Russia and Rest of Eastern Europe)
• Asia Pacific (China, India, ASEAN, Australia & New Zealand)
• Japan
• Middle East and Africa (GCC, S. Africa, and Rest of MEA)

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.