Safety Instrumented Systems (SIS) in the Worldwide Chemicals & Petrochemicals Industry - Forecast to 2022

Dublin, Dec. 19, 2018 (GLOBE NEWSWIRE) -- The "Global Safety Instrumented Systems (SIS) Market in Chemicals and Petrochemicals Industry 2018-2022" report has been added to ResearchAndMarkets.com's offering.

The safety instrumented systems market in chemicals and petrochemicals industry will register a CAGR of about 8% by 2022.

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.

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.

Key Players

• ABB
• Emerson Electric
• Honeywell
• Rockwell Automation
• Schneider Electric
• Siemens

Topics Covered

PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

PART 03: RESEARCH METHODOLOGY

PART 04: MARKET LANDSCAPE

• Market ecosystem
• Market characteristics
• Market segmentation analysis

PART 05: MARKET SIZING

• Market definition
• Market sizing 2017
• Market size and forecast 2017-2022

PART 06: FIVE FORCES ANALYSIS

PART 07: MARKET SEGMENTATION BY APPLICATION

• Segmentation by application
• Comparison by application
• Emergency shutdown systems - Market size and forecast 2017-2022
• Fire and gas monitoring and control systems- Market size and forecast 2017-2022
• High integrity pressure protection systems - Market size and forecast 2017-2022
• Burner management systems- Market size and forecast 2017-2022
• Turbomachinery control systems- Market size and forecast 2017-2022
• Market opportunity by application

PART 08: CUSTOMER LANDSCAPE

PART 09: REGIONAL LANDSCAPE

• Geographical segmentation
• Regional comparison
• EMEA - Market size and forecast 2017-2022
• APAC - Market size and forecast 2017-2022
• Americas - Market size and forecast 2017-2022
• Key leading countries
• Market opportunity

PART 10: DECISION FRAMEWORK

PART 11: DRIVERS AND CHALLENGES

PART 12: MARKET TRENDS

• Advent of Industry 4.0
• Pre-engineered SIS
• SIS with single-loop logic solvers

PART 13: VENDOR LANDSCAPE

• Overview
• Landscape disruption
• Competitive Landscape

PART 14: VENDOR ANALYSIS

• Vendors covered
• Vendor classification
• Market positioning of vendors
• ABB
• Emerson Electric
• Honeywell
• Rockwell Automation
• Schneider Electric
• Siemens

For more information about this report visit https://www.researchandmarkets.com/research/7ps8br/safety?w=12

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Related Topics: Engineering, Petrochemicals