The research report provides useful insights into growth trends, process innovation, and competitive landscape of the global process safety system market.
Albany, NY -- (SBWIRE) -- 02/17/2017 -- Process safety system involves preventing fires, explosions, and accidental release of chemicals in chemical industries or the accidental release of hazardous materials in industries such as oil and gas and paints and coatings. The deployment of process safety systems is aimed at providing the necessary measures that are needed to minimize or overcome hazard to the environment or to personnel.
In oil and gas operations, the discovery of new oil fields leading to changing fortunes has high operational hazards that can be fatal as well. According to statistics from the Centers for Disease Control and Prevention (CDC), the oil and gas industry in the U.S. had fatality rate seven times higher than for workers in all other industries between 2003 and 2010.
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The research report provides useful insights into growth trends, process innovation, and competitive landscape of the global process safety system market. This includes a detailed assessment of the vital market parameters such as market drivers, market restraints, and growth trends in the past and projections for the 2017-2025 period.
The report is compiled after gathering data from industry-centric databases and valuable insights received from industry experts about their viewpoint on the development trends in the global process safety system market. The report analyzes the market from a competitive standpoint as well. The leading companies are profiled for their distinguishing business attributes and indices of strengths, weakness, opportunities, and threats of these companies are gauged until the end of the forecast period in 2025.
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Global Process Safety System Market: Trends and Opportunities
In oil and gas operations, measures to minimize social and economic damage combined with stringent governmental regulations are having a positive impact on the growth of the global process safety system market. This is because workplace safety is of paramount importance converting into higher revenue for any industry.
Global Process Safety System Market: Market Segmentation
The global process safety system market can be analyzed on the basis of end user and geography. The end-user segments of the market are oil and gas, chemical, pharmaceuticals, refining, and power generation. Other than these, process safety systems are displaying a significant demand from other industries that have potentially hazardous operations and have a considerable utilization of volatile compounds and toxic chemicals.
On the basis of geography, the regional segments of the global process safety system market are North America, Europe, Asia Pacific, and Rest of the World. The major countries that have process safety system capabilities are the U.S. and Canada in North America; Russia, France, Germany, and the U.K. in Europe, Japan, South Korea, Malaysia, China, Australia, and India in Asia Pacific; Brazil, South Africa, Venezuela, and the Middle Eastern nations in the Rest of the World. These countries are identified based on their process safety systems capabilities installed for economic and social welfare predominantly in petroleum operations, manufacturing, and chemical industries.
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Major Companies Mentioned in Report
Some of the leading companies in the global process safety system market are ABB Ltd., Siemens AG, E.l.du Pont de Nemours and Company, Rockwell Automation Inc., Honeywell International Inc., Yokogawa Electric Corp, and Integraph Corporation.
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