Safety Instrumented System Market Scope And Analysis

Report Code : TIPRE00035302
Category : Electronics and Semiconductor

No. of Pages : 150

Buy Now

Safety Instrumented System Market Scope, Analysis, and Trends by 2030

Buy Now

Safety Instrumented System Market Report Scope

Report Attribute	Details
Market size in 2022	US$ 4.23 Billion
Market Size by 2030	US$ 7.14 Billion
Global CAGR (2022 - 2030)	6.7%
Historical Data	2020-2022
Forecast period	2022-2030
Segments Covered	By Application Emergency Shutdown Systems Fire and Gas Monitoring and Control High Integrity Pressure Protection Systems Burner Management Systems Turbo Machinery Control By End User Chemicals & Petrochemicals Oil & Gas Power Generation Pharmaceutical Food & Beverages
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	ABB Ltd Applied Control Engineering Inc AVEVA Group plc Emerson Electric Co HIMA Honeywell International Rockwell Automation Inc Schneider Electric Siemens AG Yokogawa Electric Corporation

Recent Developments:

The safety instrumented system market players highly adopt inorganic and organic strategies. A few recent key market developments are listed below:

In May 2022, Emerson introduced the TopWorxTM DX PST with HART 7. Units provide valuable valve data and diagnostic information, enabling the digital transformation of process applications. The new DX PST integrates seamlessly with existing valves and control systems, giving operators access to critical valve data, trends, and diagnostics that can be used to predict and schedule maintenance. Capable of Safety Integrity Level 3 (SIL 3), the DX PST is available with an integrated 2oo2 or 2oo3 solenoid valve redundancy when paired with ASCOTM Series Advanced Redundant Control System (ARCS) to further enhance safety and open terminals that allow an additional pressure transmitter along with two pressure switches.
In March 2022, INTECH was awarded a contract to provide a high-integrity pressure protection system (HIPPS) for protecting infield oil gathering infrastructure at a major oil field in the Middle East. Under this contract, Middle Eastern oilfield companies sought INTECH’s expertise for manufacturing and installing IOPPS packages downstream of the manifolds for protecting trunklines and degassing stations from potential overpressure.
In November 2020, ABB launched ABB Ability Safety Plus for hoists, a suite of mine hoist safety products that brings the highest level of personnel and equipment safety available to the mining industry. The products include safety plus hoist monitor (SPHM), safety plus hoist protector (SPHP), and safety plus brake system (SPBS), including safety brake hydraulics (SBH).