Thumbnail

Europe Safety Instrumented Systems Market - By Components (Sensors, Switches, Programmable Devices, Actuators and Valves), Products (ESD, Safety Interlock Systems, SSD, Fire and Gas Monitoring and Control, HIPPS, BMS, TMC), Industry, Geography, Tren

Looking to buy the report?

The Europe Safety Instrumented Systems market is estimated to be worth $xx billion in 2015. It is projected to grow at a Compounded Annual Growth Rate (CAGR) of xx.xx% during the forecast period to reach $xx billion by 2020.

The various operations in industrial processes involve many risks, especially in the Chemicals & Gases sectors. The usage of these safety-instrumented systems is to ensure protection of the personnel, equipment, and environment. A safety-instrumented system is designed to safeguard all the industrial processes in the hazardous zones. 

The economic growth of the European region looks to be picking up from the recent slump. Although, the market is growing slowly, given its supportive economic policies, the European market could be favorable for making new investments. As per the World Bank data, the 2013 GDP annual growth rate was about 0.1 % and this number is estimated to grow in the coming years due to its rising domestic market demand and private consumption.

The Europe Instrumented Systems market is broadly classified as types, end users and geography. Based on the type of components, the safety instrumented systems market is segmented into switches, sensors, and programmable safety devices (or) sensors, logic solver, and final control element. On the basis of product types, the same has been segmented into Emergency Shutdown Systems (ESD), Safety Interlock Systems, Safety Shutdown Systems (SSD), Fire & Gas monitoring and control, High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), and Turbo Machinery Control (TMC).  Similarly, based on its verticals, its applications can be explained under segments such as Chemicals & Petroleum Refinery, Energy & Power, Manufacturing, Pharmaceuticals, Mining, Oil & Gas, and others. Some of the market players mentioned in the report are Rockwell Automation, Siemens, ABB, GE, Schneider Electric, Emerson Process Management and more.

Drivers:

The key factors contributing to the growth of Europe Safety Instrumented Systems Market are Industry Safety Standards, Rise in Global Automotive Manufacturing, and Labor Union Force Safety Measures.

Challenges:

Lack of Awareness & Complexity of Standards, Low Response Rate, Product Costs, and Operational Costs are the key challenges of the Safety Instrumented Systems Market.

What the report offers:

  • Market Definition for the Safety Instrumented Systems along with identification of key drivers and restraints for the market
  • Market analysis of Safety Instrumented Systems market, with region specific assessments
  • Identification of factors instrumental in changing the market scenarios, offering prospective opportunities and identification of key companies, which can influence the market on a global and regional scale
  • Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
  • Identification and analysis of the Macro and Micro factors that affect the Europe Safety Instrumented Systems market on both global and regional scale
  • A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information

Looking to buy the report?

Want some specific customizations?

Our clients include:

prev-arrow
next-arrow

Looking to Customize Report?

Please Enter Email ID

Please Enter Message