Safety Programmable Controller Market - Growth, Trends, and Forecast (2020 - 2025)
The safety programmable controller market was valued at USD 6.46 billion in 2019 and is expected to reach a market value of USD 9.41 billion by 2025, registering a CAGR of 6.5% during the forecast period (2020 - 2025). The combination of PLC, motion control, and human-machine interface (HMI) programming into one environment is a trend that will progress over the next several years. It will reduce the learning curve and less total development time, which will drive the growth of the market.
- Increased adoption of automation systems coupled with safety awareness is driving the market. PLCs can be easily reprogrammed and designed to the wanted characteristics and it’s possible to embed multiple devices like memory shells and timers in one PLC by which its very easy to control and manage energy costs with quality improvement and reduced production cost.
- Demand for safe equipment and need for simplified configuration is driving the market. Safety PLCs combine the functionality of a control system with a safety system in one controller platform, allowing manufacturers to greatly reduce machine life cycle costs. Safety system designs utilizing safety PLCs deliver multiple layers of protection that work together to provide a safe control system. When unexpected events arise, each layer can mitigate the effect of the fault. Safety PLCs from Siemens have led the way creating this "Layers of Protection" concept, achieving the level of protection required for the controller to earn a SIL 3 safety rating.
- However, safety PLCs are very expensive and require high initial investment compared to standard PLC counterparts, including hardware, software and services costs, which could hinder the growth of the market.
Scope of the Report
The safety programmable controllers market contains integrated safety functions that allow it to control safety systems in various applications. Due to need for functional flexibility, demand for safe equipment, industry safety standards and cost effective systems, the market is growing by segmenting in applications such as automotive, energy and power, manufacturing, pharmaceutical, food and beverages, oil & gas, etc.
Key Market Trends
Oil and Gas Industry to Witness a Significant Growth
- In the oil & gas industry processes, there is usually a great demand for safety and reliability and according to U.S. Energy Information Administration, the world’s annual energy consumption of oil and gas is projected to increase steadily from less than 200 quadrillion BTU in 2015 to nearly 250 quadrillion BTU by 2040.
- Oil industry and refinery gas is mostly manual system with many risks, such as explosion hazards, fire hazards and lightning, radiation, etc.
- With demand continuing to grow, oil and gas producers are in need to find new and better ways to capture energy and their increment in capital spending is mainly on new control equipment for better safety, reliability and low energy consumption.
North America to Register a Significant Growth Rate
- North America is estimated to hold a major share in the market, owing to rise in industrial investment in the mining and oil and gas sectors, which fuelled the utilization of safety programmable controllers, thereby, propelling the market growth.
- The current trend of adopting automation and specific benefits, such as better diagnostics capabilities and reduced machine down-time are other drivers, which will contribute to the growth of the market over the forecast period in this region.
The safety programmable controller market is fragmented and the major players have used various strategies such as new product launches, expansions, joint ventures, partnerships, and others to increase their footprints in this market in order to sustain in long run. Key players are Rockwell Automation, ABB Group, Siemens AG etc. Recent developments in the market are -
- May 2019 - nVent Electric plc, a global leader in electrical connection and protection solutions, launched nVent’s RAYCHEM Elexant 4010i, the first smart, connected controller from the Elexant family. It is designed to provide a safe, reliable and flexible control solution for industrial applications and the Elexant 4010i makes the control and maintenance of heat tracing technology smarter, safer and more cost-effective.
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- 1 INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
- 2 RESEARCH METHODOLOGY
- 3 EXECUTIVE SUMMARY
- 4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Introduction to Market Drivers and Restraints
- 4.3 Market Drivers
- 4.3.1 Increased Adoption of Automation Systems
- 4.3.2 Demand for Safe Equipment and Need for Simplified Configuration
- 4.4 Market Restraints
- 4.4.1 Higher Initial Investments
- 4.5 Industry Value Chain Analysis
- 4.6 Industry Attractiveness - Porter's Five Force Analysis
- 4.6.1 Threat of New Entrants
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Bargaining Power of Suppliers
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
- 5 MARKET SEGMENTATION
- 5.1 By Type
- 5.1.1 Modular
- 5.1.2 Compact
- 5.1.3 Other Types
- 5.2 By End User
- 5.2.1 Automotive
- 5.2.2 Energy & Power
- 5.2.3 Manufacturing
- 5.2.4 Pharmaceutical
- 5.2.5 Semiconductors
- 5.2.6 Food & Beverages
- 5.2.7 Oil & Gas
- 5.2.8 Other End Users
- 5.3 Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia-Pacific
- 5.3.4 Latin America
- 5.3.5 Middle East & Africa
- 6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Rockwell Automation
- 6.1.2 ABB Group
- 6.1.3 Siemens AG
- 6.1.4 Schneider Electric SE
- 6.1.5 Treotham
- 6.1.6 ASTRE Engineering
- 6.1.7 SICK Group
- 6.1.8 Mistubishi Electric Corporation
- 6.1.9 IDEC Corporation
- 6.1.10 Omron Corporation
- 6.1.11 Leuze electronic GmbH
- 7 INVESTMENT ANALYSIS
- 8 MARKET OPPORTUNITIES AND FUTURE TRENDS