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APAC Safety Instrumented Systems Market Size (2024 - 2029)

The Asia Pacific safety instrumented systems market is poised for significant expansion, driven by the increasing adoption of Industry 4.0 and the need for advanced safety standards in industrial processes. This market's growth is closely linked to developments in the petrochemical and energy sectors, as well as the demand for control systems that adapt to new safety requirements. The region's favorable political conditions and government support for industrial expansion are attracting international investments, further boosting the market. Additionally, infrastructure projects, such as wastewater treatment plants, are expected to contribute to the market's growth trajectory.

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Market Size of APAC Safety Instrumented Systems Industry

Asia Pacific Safety Instrumented Systems Market
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 12.50 %
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order

APAC Safety Instrumented Systems Market Analysis

The Asia Pacific safety instrumented systems market is expected to grow at a CAGR of 12.5% over the forecast period 2021 - 2026. The adoption of Industry 4.0 is expected to ring technical changes in the safety systems.

  • Faced with an increasingly interdisciplinary engineering environment and ever-increasing system challenges, there is an increasing need for engineers involved in the engineering process to remain aware of the operational and design implications of safety-related systems. This also includes knowledge of relevant safety standards.
  • Safety instrumented systems play an essential role in providing protective layer functions in various industrial processes and automation systems. Safety system engineering describes a disciplined and systematic approach that incorporates hazard identification, safety requirement specifications, and system maintenance and operation during the plant's life. The growth of the safety instrumented system market depends heavily on the growth of the petrochemical and energy sectors.
  • In addition, as the process industry moves toward adopting newer safety standards, the need for control systems that can manage changes, such as steam turbines, compressors, and variable speed drives, may become essential to keep profitability up with agile requirements.
  • The advancement in the technologies for automation is driving industry 4.0 across the industrial domains, making rapid growth for the adoption of safety instrumentation systems to get better control over operation and safety.
  • The demand has stalled for valves and actuators due to stagnant industrial growth in developed countries. The growing government support towards establishing new industries and political conditions makes the country favorable for industrial expansion. This is driving international companies to consider this market for investments. Additionally, the region also includes running and upcoming projects for building water and wastewater treatment plants.
  • For instance, the Cambodian government signed an agreement with the Japanese International Cooperation Agency to build a wastewater treatment plant in the Dangkor district. The project aims to improve the drainage system in the district for wastewater to flow directly to the plant rather than the river by investing USD 25 million. Such projects across the Asia-Pacific region are estimated to drive the market for safety instrumentation systems in the market.

APAC Safety Instrumented Systems Industry Segmentation

Safety Instrumented Systems (SIS) are being implemented across the industries to complement their process control systems and reduce the risk of accidents on the industry floor and in the operation process. There are many ways in which safety instrumentation is being deployed. Compliance with international standards, such as IEC 61508 and IEC 61511, which indicate an acceptable quality in the design and management of safety controls, drives the implementation of SIS across the industries.

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APAC Safety Instrumented Systems Market Size Summary

The Asia Pacific safety instrumented systems market is poised for significant growth, driven by the adoption of Industry 4.0 and advancements in automation technologies. These systems are crucial for providing protective functions in industrial processes, particularly in the petrochemical and energy sectors. As industries increasingly adopt newer safety standards, the demand for control systems capable of managing complex changes is rising. This demand is further fueled by government support for industrial expansion and projects like wastewater treatment plants, which attract international investments. The region's rapid industrial activity, cost pressures, and favorable policies in countries like China and India are contributing to the market's robust expansion.

In the food and beverage industry, automation is on the rise due to factors such as labor scarcity, health and safety regulations, and technological advancements in robotics. The industry faces various safety challenges, from heavy machinery to chemical hazards, necessitating the implementation of safety instrumented systems. The market is characterized by consolidated players offering tailored solutions for fire, pressure, and asset safety. Notable developments include BP's digital transformation with Amazon and Yokogawa's certification for cybersecurity, enhancing the appeal of their safety systems. Innovations like Emerson's integration of MTP into automation systems are further propelling market growth, underscoring the increasing importance of safety instrumentation in diverse industrial applications.

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APAC Safety Instrumented Systems Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Value Chain Analysis

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Bargaining Power of Suppliers

      2. 1.3.2 Bargaining Power of Consumers

      3. 1.3.3 Threat of New Entrants

      4. 1.3.4 Intensity of Competitive Rivalry

      5. 1.3.5 Threat of Substitute Products

    4. 1.4 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component

      1. 2.1.1 Sensors

      2. 2.1.2 Switches

      3. 2.1.3 Programmable Devices

      4. 2.1.4 Actuators and Valves

      5. 2.1.5 Other Components

    2. 2.2 By Application

      1. 2.2.1 Emergency Shutdown Systems (ESD)

      2. 2.2.2 Fire and Gas Monitoring and Control (F&GC)

      3. 2.2.3 High Integrity Pressure Protection Systems (HIPPS)

      4. 2.2.4 Burner Management Systems (BMS)

      5. 2.2.5 Turbo Machinery Control

      6. 2.2.6 Other Applications

    3. 2.3 By End-User

      1. 2.3.1 Chemicals and Petrochemicals

      2. 2.3.2 Power Generation

      3. 2.3.3 Pharmaceutical

      4. 2.3.4 Food and Beverage

      5. 2.3.5 Oil and Gas

      6. 2.3.6 Other End-Users

    4. 2.4 By Country

      1. 2.4.1 India

      2. 2.4.2 China

      3. 2.4.3 Japan

      4. 2.4.4 Rest of Asia Pacific

APAC Safety Instrumented Systems Market Size FAQs

The APAC Safety Instrumented Systems Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)

Rockwell Automation Inc., Emerson Electric Company, Honeywell International Inc., Yokogawa Electric Corporation and ABB Ltd are the major companies operating in the APAC Safety Instrumented Systems Market.

APAC Safety Instrumented Systems Report Snapshots

Asia Pacific Safety Instrumented Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)