Global Process Safety Systems Market 2017-2021
The Process Safety Systems Market report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors for 2017-2021 . The following companies are the key players in the Global Process Safety Systems Market : ABB , Honeywell International , Rockwell Automation , Siemens , and Yokogawa Electric . Other Prominent Vendors in the market are Emerson Electric , Esoteric Automation , General Electric , HIMA Paul Hildebrandt , Johnson Controls , OMRON , and Schneider Electric .
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One trend in the Process Safety Systems Market is the development of customized safety systems . The emergence of customized safety systems and the customization requirements of the end-users are constantly growing . Safety systems are essential , and the need is more critical in capital-intensive and critical process industries . End-users are unwilling to accept change from old systems to innovative automation systems mostly because of the capital limitations of automation systems , including process safety systems in gauging the exact requirements of end-users .
Process safety system vendors are increasing their product range and are also acquiring vendors of related products ; they also work along with the end-users to develop products based on their requirements . Working along with end-users has a positive impact on the adoption of process safety systems .
According to the report , one driver in the Process Safety Systems Market is the increase in process automation among end-users . Process automation , which is a high-priority among the end-user industries especially in the developing countries in APAC and EMEA , is undergoing significant developments and operations . Automation is the result of an increasing demand for process safety systems in APAC and EMEA . The OPEC countries are expecting a rise in the value of oil per barrel and are also likely to set up more projects in the coming years .
The oil and gas industry will be the key end-user of process safety systems . Most of these end-user industries were skeptical about investing during the economic crisis . The developing countries in APAC are undertaking new projects while countries in the Middle East and Latin America are looking to adopt newer automation technologies in process industries . Thus , the process safety systems market is expected to grow at a high rate .
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Further , the report states that one challenge in the Process Safety Systems Market is the Shortage of skilled labor to maintain and operate automation systems . The paucity of skilled labor to maintain and operate automation system along with process safety system affects vendors and end-users . Lack of skilled labor is a common challenge faced by the global automation market , especially in the developing economies . It is essential for safety system operators to have the knowledge as well as the technical ability to work on these systems . While there are automation experts and people with end-user experience , the pool of people with both these skills is declining .