Global Safety Instrumented Systems (SIS) Market in Chemicals and Petrochemicals Industry 2022-2026

Global Safety Instrumented Systems (SIS) Market In Chemicals And Petrochemicals Industry Market 2022-2026

Technavio has been monitoring the safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market and it is poised to grow by $ 635.73 mn during 2022-2026 progressing at a CAGR of 8.62% during the forecast period. Our report on the safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increased investments in the chemical and petrochemicals industry, the growing advantage of SIS over traditional safety systems, and the growing need to follow industrial safety standards and government protocol.

The safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market analysis includes Application and Geography segments.

Technavio's safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market is segmented as below:

By Application

• Emergency shutdown systems
• Fire and gas monitoring and control system
• High integrity pressure protection system
• Burner management system
• Turbomachinery control system

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• The Middle East and Africa

This study identifies the advent of industry 4.0 as one of the prime reasons driving the safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market growth during the next few years. Also, SIS with single-loop logic solvers will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the safety instrumented systems (SIS) market in the chemicals and petrochemicals industry market covers the following areas:

• Safety instrumented systems (SIS) market in chemicals and petrochemicals industry market sizing
• Safety instrumented systems (SIS) market in chemicals and petrochemicals industry market forecast
• Safety instrumented systems (SIS) market in chemicals and petrochemicals industry market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading safety instrumented systems (SIS) market in chemicals and petrochemicals industry market vendors that include ABB Ltd., aeSolutions, Applied Control Engineering Inc., Audubon Field Soluons LLC, Emerson Electric Co., General Electric Co., GIL Automations Ltd., Giza Systems SAE 66.13, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Matrix Technologies Inc., Mitsubishi Electric Corp., OMRON Corp., Pilz GmbH and Co. KG, Puffer-Sweiven LP, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, Total Safety U.S Inc., and Yokogawa Electric Corp. Also, the safety instrumented systems (sis) market in the chemicals and petrochemicals industry market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Companies Mentioned

Abeona Therapeutics Inc., Adaptimmune Therapeutics plc, Adverum Biotechnologies Inc., Applied Genetic Technologies Corp., Amgen Inc., Astellas Pharma Inc., Biogen Inc., bluebird bio Inc., Editas Medicine Inc., ElevateBio, F. Hoffmann La Roche Ltd., Generation Bio, Gilead Sciences Inc., Novartis AG, Orchard Therapeutics Plc, Poseida Therapeutics Inc, Sangamo Therapeutics Inc., Sibiono GeneTech Co. Ltd., uniQure NV, Voyager Therapeutics Inc.