PUBLISHER: IMARC | PRODUCT CODE: 1519652
PUBLISHER: IMARC | PRODUCT CODE: 1519652
Process Safety Systems Market Report by Component, Application (Burner Management Systems, Emergency Shutdown System, High Integrity Pressure Protection System, Turbo Machinery Control ), End User, and Region 2024-2032
The global process safety systems market size reached US$ 4.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.3 Billion by 2032, exhibiting a growth rate (CAGR) of 4.98% during 2024-2032. The increasing focus on organizational safety culture, the expansion of the mining industry, and the rising complexity of industrial processes are key factors driving the market.
Process safety systems are essential components of industrial operations that aim to prevent and mitigate incidents that could result in hazardous releases, fires, explosions, or other process-related accidents. These systems are designed to safeguard personnel, protect the environment, and preserve assets in industries such as oil and gas, chemical manufacturing, pharmaceuticals, and petrochemicals. They encompass a range of safety measures, including equipment, procedures, and technologies that work together to identify, prevent, and mitigate process hazards. These systems include Safety Instrumented Systems (SIS), Emergency Shutdown Systems (ESD), Fire and Gas Detection Systems, Pressure Relief Systems, Process Alarms and Interlocks, and Safety Instrumented Functions (SIF), among others. Effective process safety systems are critical for preventing catastrophic accidents, protecting lives, minimizing environmental impact, and preserving assets in industrial operations. In addition, these systems' implementation and continual enhancement demonstrate a commitment to safe and responsible practices in high-risk industries.
Process Safety Systems Market Trends:
The increasing focus on worker safety and occupational health regulations drives the global market. In line with this, the rising awareness of the financial and reputational risks associated with process-related incidents is encouraging industries to invest in effective safety systems. Furthermore, the stringent government regulations and compliance requirements that mandate the implementation of process safety systems in high-risk industries are significantly contributing to the market. Apart from this, the expansion of the oil and gas sector, notably offshore operations, where process safety systems are crucial for mitigating risks associated with drilling and production activities, is positively influencing the market. Moreover, the rapid adoption of process safety systems in chemical manufacturing plants to prevent accidents and protect workers from exposure to hazardous substances is creating a positive outlook for the market. The technological advancements in safety systems, including smart sensors, real-time monitoring, and advanced analytics, are offering numerous opportunities for the market. Besides, the escalating emphasis on asset protection and preservation is favorably impacting the market. The growth of the pharmaceutical industry, where strict safety regulations and the handling of potentially hazardous substances necessitate robust process safety systems, is propelling the market. The expanding adoption of automation and control systems in industrial processes is creating a need for integrated process safety solutions. The increasing complexity of industrial processes and the need for comprehensive risk management is bolstering the demand for advanced process safety systems. The rise in major incidents and accidents in various industries and the integration of safety systems with digitalization initiatives, such as the Industrial Internet of Things (IIoT) and artificial intelligence, are strengthening the market. Additionally, the increasing awareness of the environmental impact of industrial operations is leading to the implementation of process safety systems to prevent chemical spills and other ecological risks. Other factors driving the market include expansion of the mining industry, heavy investments in infrastructure projects, growth of the renewable energy sector, adoption of international standards and best practices in process safety management, rising focus on human factors and organizational safety culture, and the expanding food and beverage industry.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global process safety systems market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on component, application, and end user.
Component Insights:
Hardware
Software
Services
The report has provided a detailed breakup and analysis of the process safety systems market based on the component. This includes hardware, software, and services.
Application Insights:
Burner Management Systems (BMS)
Emergency Shutdown System (ESD)
High Integrity Pressure Protection System (HIPPS)
Turbo Machinery Control (TMC)
A detailed breakup and analysis of the process safety systems market based on the application have also been provided in the report. This includes burner management systems (BMS), emergency shutdown systems (ESD), high integrity pressure protection system (HIPPS), and turbo machinery control (TMC).
End User Insights:
Oil and Gas
Energy and Power
Chemical
Pharmaceutical
Food Processing
Paper and Pulp
Others
A detailed breakup and analysis of the process safety systems market based on the end user have also been provided in the report. This includes oil and gas, energy and power, chemical, pharmaceutical, food processing, paper and pulp, and others.
Regional Insights:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific holds the leading position in the market. Some of the factors driving the Asia Pacific process safety systems market include increasing focus on worker safety and occupational health regulations, technological advancements in safety systems, heavy investments in infrastructure projects, etc.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global process safety systems market. Detailed profiles of all major companies have been provided. Some of the companies covered include ABB Ltd, Bureau Veritas, Emerson Electric Co, General Electric Company, Hexagon AB, HIMA Paul Hildebrandt GmbH, Honeywell International Inc, Ingenero Technologies (I) Pvt. Ltd, Intertek Group plc, Process Engineering Associates LLC, Rockwell Automation, Inc, Schneider Electric SE, SGS SA, etc. Kindly note that this only represents a partial list of companies and the complete list has been provided in the report.
Key Questions Answered in This Report:
- How has the global process safety systems market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global process safety systems market?
- What is the impact of each driver, restraint, and opportunity on the global process safety systems market?
- What are the key regional markets?
- Which countries represent the most attractive process safety systems market?
- What is the breakup of the market based on the component?
- Which is the most attractive component in the process safety systems market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the process safety systems market?
- What is the breakup of the market based on the end user?
- Which is the most attractive end user in the process safety systems market?
- What is the competitive structure of the global process safety systems market?
- Who are the key players/companies in the global process safety systems market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Process safety systems Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Component
- 6.1 Hardware
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Software
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Services
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
7 Market Breakup by Application
- 7.1 Burner Management Systems (BMS)
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Emergency Shutdown System (ESD)
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 High Integrity Pressure Protection System (HIPPS)
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Turbo Machinery Control (TMC)
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by End User
- 8.1 Oil and Gas
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Energy and Power
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Chemical
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Pharmaceutical
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Food Processing
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Paper and Pulp
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
- 8.7 Others
- 8.7.1 Market Trends
- 8.7.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 Drivers, Restraints, and Opportunities
- 10.1 Overview
- 10.2 Drivers
- 10.3 Restraints
- 10.4 Opportunities
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 ABB Ltd
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Bureau Veritas
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Emerson Electric Co
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 General Electric Company
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.5 Hexagon AB
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.6 HIMA Paul Hildebrandt GmbH
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Honeywell International Inc
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 Ingenero Technologies (I) Pvt. Ltd
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Intertek Group plc
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.10 Process Engineering Associates LLC
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.11 Rockwell Automation, Inc
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.12 Schneider Electric SE
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.13 SGS SA
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.1 ABB Ltd
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
List of Figures
- Figure 1: Global: Process Safety Systems Market: Major Drivers and Challenges
- Figure 2: Global: Process Safety Systems Market: Sales Value (in Billion US$), 2018-2023
- Figure 3: Global: Process Safety Systems Market Forecast: Sales Value (in Billion US$), 2024-2032
- Figure 4: Global: Process Safety Systems Market: Breakup by Component (in %), 2023
- Figure 5: Global: Process Safety Systems Market: Breakup by Application (in %), 2023
- Figure 6: Global: Process Safety Systems Market: Breakup by End User (in %), 2023
- Figure 7: Global: Process Safety Systems Market: Breakup by Region (in %), 2023
- Figure 8: Global: Process Safety Systems (Hardware) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 9: Global: Process Safety Systems (Hardware) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 10: Global: Process Safety Systems (Software) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 11: Global: Process Safety Systems (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 12: Global: Process Safety Systems (Services) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 13: Global: Process Safety Systems (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 14: Global: Process Safety Systems (Burner Management Systems (BMS)) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 15: Global: Process Safety Systems (Burner Management Systems (BMS)) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 16: Global: Process Safety Systems (Emergency Shutdown System (ESD)) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 17: Global: Process Safety Systems (Emergency Shutdown System (ESD)) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 18: Global: Process Safety Systems (High Integrity Pressure Protection System (HIPPS)) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 19: Global: Process Safety Systems (High Integrity Pressure Protection System (HIPPS)) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 20: Global: Process Safety Systems (Turbo Machinery Control (TMC)) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 21: Global: Process Safety Systems (Turbo Machinery Control (TMC)) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 22: Global: Process Safety Systems (Oil and Gas) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 23: Global: Process Safety Systems (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 24: Global: Process Safety Systems (Energy and Power) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 25: Global: Process Safety Systems (Energy and Power) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 26: Global: Process Safety Systems (Chemical) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 27: Global: Process Safety Systems (Chemical) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 28: Global: Process Safety Systems (Pharmaceutical) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 29: Global: Process Safety Systems (Pharmaceutical) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 30: Global: Process Safety Systems (Food Processing) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 31: Global: Process Safety Systems (Food Processing) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 32: Global: Process Safety Systems (Paper and Pulp) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 33: Global: Process Safety Systems (Paper and Pulp) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 34: Global: Process Safety Systems (Other End Users) Market: Sales Value (in Million US$), 2018 & 2023
- Figure 35: Global: Process Safety Systems (Other End Users) Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 36: North America: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 37: North America: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 38: United States: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 39: United States: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 40: Canada: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 41: Canada: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 42: Asia-Pacific: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 43: Asia-Pacific: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 44: China: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 45: China: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 46: Japan: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 47: Japan: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 48: India: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 49: India: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 50: South Korea: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 51: South Korea: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 52: Australia: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 53: Australia: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 54: Indonesia: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 55: Indonesia: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 56: Others: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 57: Others: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 58: Europe: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 59: Europe: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 60: Germany: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 61: Germany: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 62: France: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 63: France: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 64: United Kingdom: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 65: United Kingdom: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 66: Italy: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 67: Italy: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 68: Spain: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 69: Spain: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 70: Russia: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 71: Russia: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 72: Others: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 73: Others: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 74: Latin America: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 75: Latin America: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 76: Brazil: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 77: Brazil: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 78: Mexico: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 79: Mexico: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 80: Others: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 81: Others: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 82: Middle East and Africa: Process Safety Systems Market: Sales Value (in Million US$), 2018 & 2023
- Figure 83: Middle East and Africa: Process Safety Systems Market: Breakup by Country (in %), 2023
- Figure 84: Middle East and Africa: Process Safety Systems Market Forecast: Sales Value (in Million US$), 2024-2032
- Figure 85: Global: Process Safety Systems Industry: Drivers, Restraints, and Opportunities
- Figure 86: Global: Process Safety Systems Industry: Value Chain Analysis
- Figure 87: Global: Process Safety Systems Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Process Safety Systems Market: Key Industry Highlights, 2023 & 2032
- Table 2: Global: Process Safety Systems Market Forecast: Breakup by Component (in Million US$), 2024-2032
- Table 3: Global: Process Safety Systems Market Forecast: Breakup by Application (in Million US$), 2024-2032
- Table 4: Global: Process Safety Systems Market Forecast: Breakup by End User (in Million US$), 2024-2032
- Table 5: Global: Process Safety Systems Market Forecast: Breakup by Region (in Million US$), 2024-2032
- Table 6: Global: Process Safety Systems Market: Competitive Structure
- Table 7: Global: Process Safety Systems Market: Key Players
