Market Research Logo

Global Safety Instrumented Systems (SIS) Market in Chemicals and Petrochemicals Industry 2018-2022

Global Safety Instrumented Systems (SIS) Market in Chemicals and Petrochemicals Industry 2018-2022

About this market

The framework of Smart Factory SIS is based on a similar concept as that of Industry 4.0. Industry 4.0 increases the production flexibility and profitability which will allow rapid adaptation to the changing market dynamics of volatile business operational model. However, the concept of Industry 4.0 will be difficult to apply for the chemicals and petrochemicals industry as most of the processes depend on handling of explosive, flammable, and toxic materials. Thus, SIS is used in the chemical and petrochemicals industry to prevent accidents and environmental disasters. These factors will boost the growth of the safety instrumented systems market in the chemical and petrochemical industry. Technavio’s analysts have predicted that the safety instrumented systems market in chemicals and petrochemicals industry will register a CAGR of about 8% by 2022.

Market Overview

Increased investments in chemicals and petrochemicals industry

The number of investments and projects increased in the developing nations such as India, Indonesia, Brazil, and countries in the Middle East in 2017. The number of mergers and acquisitions also increased in the same period. This resulted in increased demand of SIS systems from the chemicals and petrochemicals industry.

Compatibility issues associated with SIS

SIS must be compatible with other process automation related systems in the chemicals and petrochemicals industry. Chemical plants will not be able to able to ensure reliability and safety of processes at all conditions in case of compatibility issues. Moreover, the chemicals and petrochemicals industry will not be able to harness the benefits of SIS systems in case of incompatibility. Thus, the compatibility issues of SIS will hurt the growth prospects of the market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the safety instrumented systems market in chemicals and petrochemicals industry during 2018-2022, view our report.

Competitive Landscape

The market appears to be fragmented and with the presence of several companies including ABB, and Emerson Electric the competitive environment is quite intense. Factors such as the increasing investments in chemicals and petrochemicals industry, will provide considerable growth opportunities to safety instrumented system companies. ABB, Emerson Electric, Honeywell, Rockwell Automation, Schneider Electric, and Siemens are some of the major companies covered in this report.


PRESS RELEASE

Technavio Announces the Publication of its Research Report – Global Safety Instrumented Systems (SIS) Market in Chemicals and Petrochemicals Industry 2018-2022

Technavio recognizes the following companies as the key players in the global safety instrumented systems market in chemicals and petrochemicals industry: ABB, Emerson Electric, Honeywell, Rockwell Automation, Schneider Electric, and Siemens.

Commenting on the report, an analyst from Technavio’s team said: “The advent of Industry 4.0 is identified as a key trend that will drive the growth of the safety instrumented systems market. The chemicals and petrochemicals industry rely on SIS to prevent fatalities and environmental disasters.”

According to the report, one of the major drivers for this market is the increasing number of projects and investments in the chemicals and petrochemicals industry of developing nations. The increase in the number of M&A also contributed to the growth of the market.

Further, the report states that one of the major factors hindering the growth of this market is the compatibility issues associated with SIS. These issues will restrict the growth of the SIS market in the chemicals and petrochemicals industry during the forecast period.

Companies Mentioned

ABB
Emerson Electric
Honeywell
Rockwell Automation
Schneider Electric
Siemens

  • Executive summary
  • Scope of the report
  • Research methodology
  • Market landscape
    • Market ecosystem
      • Table Parent market - Global process safety systems market
      • Table Global process safety systems market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2017
      • Table Global safety instrumented systems (SIS) market in chemicals and petrochemicals industry - Market size 2017
      • Table Validation techniques employed for market sizing 2017
    • Market size and forecast 2017-2022
      • Table Global safety instrumented systems (SIS) market in chemicals and petrochemicals industry - Market size and forecast 2017-2022 ($ mn)
      • Table Global safety instrumented systems (SIS) market in chemicals and petrochemicals industry - Year-over-year growth 2018-2022 (%)
  • Five forces analysis
    • Table Five forces analysis 2017
    • Table Five forces analysis 2022
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2017
  • Market segmentation by application
    • Segmentation by application
      • Table Application - Market share 2017-2022 (%)
    • Comparison by application
      • Table Comparison by application
    • Emergency shutdown systems - Market size and forecast 2017-2022
      • Table Emergency shutdown systems - Market size and forecast 2017-2022 ($ mn)
      • Table Emergency shutdown systems - Year-over-year growth 2018-2022 (%)
    • Fire and gas monitoring and control systems- Market size and forecast 2017-2022
      • Table Fire and gas monitoring and control systems - Market size and forecast 2017-2022 ($ mn)
      • Table Fire and gas monitoring and control systems - Year-over-year growth 2018-2022 (%)
    • High integrity pressure protection systems - Market size and forecast 2017-2022
      • Table High integrity pressure protection systems - Market size and forecast 2017-2022 ($ mn)
      • Table High integrity pressure protection systems - Year-over-year growth 2018-2022 (%)
    • Burner management systems- Market size and forecast 2017-2022
      • Table Burner management systems - Market size and forecast 2017-2022 ($ mn)
      • Table Burner management systems - Year-over-year growth 2018-2022 (%)
    • Turbomachinery control systems- Market size and forecast 2017-2022
      • Table Turbomachinery control systems - Market size and forecast 2017-2022 ($ mn)
      • Table Turbomachinery control systems - Year-over-year growth 2018-2022 (%)
    • Market opportunity by application
      • Table Market opportunity by application
  • Customer landscape
    • Table Customer landscape
  • Regional landscape
    • Geographical segmentation
      • Table Global safety instrumented systems (SIS) market in chemicals and petrochemicals industry - Market share by geography 2017-2022 (%)
    • Regional comparison
      • Table Regional comparison
    • EMEA - Market size and forecast 2017-2022
      • Table EMEA - Market size and forecast 2017-2022 ($ mn)
      • Table EMEA - Year-over-year growth 2018-2022 (%)
    • APAC - Market size and forecast 2017-2022
      • Table APAC - Market size and forecast 2017-2022 ($ mn)
      • Table APAC - Year-over-year growth 2018-2022 (%)
    • Americas - Market size and forecast 2017-2022
      • Table Americas - Market size and forecast 2017-2022 ($ mn)
      • Table Americas - Year-over-year growth 2018-2022 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Investments and mergers in chemical industry in 2017
    • Market challenges
  • Market trends
    • Advent of Industry 4.0
    • Pre-engineered SIS
    • SIS with single-loop logic solvers
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive Landscape
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • ABB
      • Table ABB: Overview
      • Table ABB - Business segments
      • Table ABB - Organizational developments
      • Table ABB - Geographic focus
      • Table ABB - Segment focus
      • Table ABB - Key offerings
    • Emerson Electric
      • Table Emerson Electric: Overview
      • Table Emerson Electric - Business segments
      • Table Emerson Electric - Organizational developments
      • Table Emerson Electric - Geographic focus
      • Table Emerson Electric - Segment focus
      • Table Emerson Electric - Key offerings
    • Honeywell
      • Table Honeywell: Overview
      • Table Honeywell - Business segments
      • Table Honeywell - Organizational developments
      • Table Honeywell - Geographic focus
      • Table Honeywell - Segment focus
      • Table Honeywell - Key offerings
    • Rockwell Automation
      • Table Rockwell Automation: Overview
      • Table Rockwell Automation - Business segments
      • Table Rockwell Automation - Organizational developments
      • Table Rockwell Automation - Geographic focus
      • Table Rockwell Automation - Segment focus
      • Table Rockwell Automation - Key offerings
    • Schneider Electric
      • Table Schneider Electric: Overview
      • Table Schneider Electric - Business segments
      • Table Schneider Electric - Organizational developments
      • Table Schneider Electric - Geographic focus
      • Table Schneider Electric - Segment focus
      • Table Schneider Electric - Key offerings
    • Siemens
      • Table Siemens: Overview
      • Table Siemens - Business segments
      • Table Siemens - Organizational developments
      • Table Siemens - Geographic focus
      • Table Siemens - Segment focus
      • Table Siemens - Key offerings
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report