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Strategic Analysis of the European Process Safety Market
Frost & Sullivan, Jan 2011, Pages: 105
The key objective of this research service is to provide an analysis of the key trends in the European process safety market for the period 2006 to 2016. With a number of end-user markets affected due to recession, this study determines the impact of recession on this market. Analysis by each application have been discussed and analysed. The research also highlights the trend across different end users and European regions. A comprehensive analysis of the market share has also been mentioned. Market drivers and restraints along with the industry challenges have been mentioned and their impact on a time scale is discussed
This Frost & Sullivan research service titled Strategic Analysis of the European Process Safety Market provides a thorough analysis of challenges, drivers and restraints of the market as well as overall revenues forecasts until 2016 for process and discrete industries. It establishes an understanding of the current economic situation and of future trends in the total European process safety market and the various end-user industries involved. In this research, Frost & Sullivan's expert analysts thoroughly examine the following end-user sectors: oil and gas, chemicals and petrochemicals, refining, pharmaceuticals, power and others (pulp and paper, metals and mining, water and wastewater management industries).
This analysis is available through our Industrial Automation & Process Control Growth Partnership Services programme. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services programme ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Compliance with Safety Regulations Impels European Process Safety Market
Safety systems are a critical part of the process industry because most end users are moving towards an automated phase. As automation in the process increases, companies should have strong safety systems to prevent any adverse occurrences. Manufacturers need to maintain continuous production to meet ever-increasing consumer demands. In order to prevent plant breakdowns, end users prefer integrated safety solutions, which prevent the breakdown of controls as well as their processes. Suppliers of safety systems have introduced custom-made solutions that integrated plant controls and safety functions, thereby reducing the interference of humans. As a result, the potential for human-enforced errors is greatly reduced.
End users are facing intensifying pressure from regulatory bodies to comply with strict safety issues. “Many end-user organisations have to meet safety regulations to provide safer working environments,” notes the analyst of this research. “The increased awareness of health and safety regulations is propelling the growth of the safety systems market.” Moreover, with increasing plant assets being deployed across various regions, there needs to be control from one focal point to monitor and to make quick decisions. Implementation of separate layers of protection and provision of proper maintenance over a period of time will be the key to the emergence of new markets.
Limited End-user Awareness about the Benefits of Safety Systems Impedes Market Growth
The cost of a system has always been a critical factor as it can change the purchase dynamics. The higher cost remains a challenge for the safety systems manufacturers who have been trying to inform the end users about the cost-benefit analysis of the SIS in comparison to conventional forms of safety. The safety system manufacturers have taken a number of initiatives to help the end user understand the benefits of SIS usage. The various benefits experienced by the end user by using state-of-the-art SIS include, lower cost of maintenance, which contributes to a lesser cost of ownership, and a lowered number of plant shutdowns, hence, reduced process downtimes.
“All these benefits contribute to faster return on investment (ROI),” concludes the analyst. “The initiatives taken by manufacturer are impacting the end-user acceptance of the SIS, which is clearly reflected by the double digit growth rates of the market.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following end-user segments in this research:
- Oil and gas
- Chemicals and Petrochemicals
- Refining
- Pharmaceuticals
- Power
- Others (pulp and paper, metals and mining, water and wastewater management industries)
By Geographic Region
- Germany
- France
- Italy
- United Kingdom
- Benelux
- Scandinavia
- Iberia
- Central and Eastern Europe
- Rest of Europe
Technology
The following technologies are covered in this research:
- Fire and gas (F&G)
- Emergency shutdown systems (ESD)
- Burner management systems (BMS)
- High integrated pressure protection systems (HIPPS)
- Turbomachinery control (TMC)
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