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

The report covers Global Industrial Safety Systems and the Market is Segmented by Application (Emergency Shutdown Systems (ESD), Fire and Gas Monitoring and Control (F&GC), High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), Turbo Machinery Control), End user (Chemicals and Petrochemicals, Power Generation, Pharmaceutical, Food and Beverage, Oil and Gas (with a percentage breakdown by Upstream, Downstream and Midstream), and Geography (North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa). The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.

Safety Instrumented System Market Size

Single User License
Team License
Corporate License
Book before:
safety instrumented systems market
share button
Study Period 2019 - 2029
Market Size (2024) USD 4.60 Billion
Market Size (2029) USD 6.43 Billion
CAGR (2024 - 2029) 6.93 %
Fastest Growing Market Asia-Pacific
Largest Market Middle East and Africa

Major Players

safety instrumented system

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Safety Instrumented System Market Analysis

The Global Safety Instrumented System Market size is estimated at USD 4.60 billion in 2024, and is expected to reach USD 6.43 billion by 2029, growing at a CAGR of 6.93% during the forecast period (2024-2029).

The widespread adoption of safety regulations and standards, coupled with increased awareness about the need for industrial safety management and competency at both individual and organizational levels, has led to the rapid adoption of safety switches in manufacturing units to prevent any accidents.

  • Around seven employees fell ill after inhaling poisonous gas at Shakti paper mills in Tetla village near Raigarh, and a fire broke out at a pharmaceutical packaging factory in the Satpur area near Nashik city all in one day, in 2020 in India. Such an alarming situation has emphasized the need for the adoption of high integrity pressure protection systems by various end-user industries in the country. HIMA, a vendor of safety solutions for the oil and gas industry, offers pivotal solutions for industrial safety specific to Malaysian oil and gas producers. According to the company, the offshore oil and gas companies face huge losses due to unplanned downtime, and the company offers its HIMA Flex SILon TMC with HiMax, an integrated solution that provides safe and cost-effective turbomachinery operation, to tackle such issues.
  • Further, the industrial processes across chemicals and petrochemicals, power generation, pharmaceutical, food and beverage, oil and gas, and other end users are closely regulated by various governing bodies to prevent sudden breakdowns and mishaps. The regulatory environment has tightened to encourage the deployment of SIS as a precautionary measure. The widespread adoption of safety regulations and standards, coupled with increased awareness about the need for industrial safety management and competency at both individual and organizational levels, has led to the rapid adoption of safety switches in manufacturing units to prevent any accidents.
  • The deployment of the SIS in the oil and gas industry is driven by the strict laws and acts that are formulated to restrict catastrophic spillage and avoid environmental pollution. For instance, the US Oil Pollution Act, alongside Oil Spills Prevention and Preparedness Regulations, is placed to prevent such accidents. Several compliance programs like the On-Site Civil Inspection Procedures Rule, as contemplated by section 7 of EO 13892, Ensuring Reasonable Administrative Inspections check if the facilities are complying with the environmental laws. The growing regulatory environment in various industries contributes to market growth.
  • The global outbreak of COVID-19 has significantly impacted the growth of various industries as most companies had to put a complete stop or limit their production owing to several restrictions put by the government to curb the spread of the virus. As a result, the pandemic had a notable impact on the growth of the Safety Instrumented Systems (SIS). For instance, the oil and gas industry, which is among the largest end-user for the SIS, is experiencing an unprecedented double blow, owing to the oil market collapse with the benchmark price for US crude oil, briefly touching a record low and a global economic slowdown driven by the COVID-19 pandemic.
  • According to International Energy Agency, the oil and gas revenues for a number of key producers fell between 50 to 85% in 2020; compared with 2019, the losses could even be larger depending on future market developments. Furthermore, for many oil-producing developing countries, wherein oil contributes the majority of their exports and government revenues, the impact was even higher, limiting the ability of these countries to respond to the multidimensional domestic pressures produced by COVID-19.

Safety Instrumented System Market Trends

This section covers the major market trends shaping the Safety Instrumented System Market according to our research experts:

The Chemical and Petrochemical Industry is expected to Hold a Major Market Share

  • A Safety Instrumented System is encompassed of sensors, logic solvers, and final control elements for the single purpose of taking the process to a safe state when predetermined conditions are violated. The growing benefits of safety instrumented systems over traditional safety systems are fueling the market demand. The chemicals & petrochemicals industries are identified as continuously developing industries, wherein the need for expansion and upgrading of aging safety problems and infrastructures is essential. Traditional safety systems are deployed through an electrical control system and are hardwired, leading to potential accidents affecting people, assets, and the environment.
  • This will surge the demand for safety instrumented systems in petrochemical industries that deliver several advantages such as prolonged field life, reduction in unplanned downtime, reduction in annual maintenance cost, elimination of unexpected repair expenses, and adherence to current codes and standards. Thus, the increasing advantages of safety instrumented systems over traditional safety systems will drive industry growth.
  • In September 2020, Yokogawa Electric Corporation announced that it had developed the OpreX Managed Service, which supports the remote monitoring and maintenance of chemical plant equipment. This service can prevent unexpected plant shutdowns by identifying and correcting issues with plant equipment and devices before breaking down. It can be accessed and utilized in various ways, depending on customer requirements.
  • Chemical industries have hazardous environments due to gas, oil, or dust, creating an explosive atmosphere in and around the machines. Moreover, the industry issues related to regulation, geopolitical risk, legal limits on using natural resources, shareholder activism, and increasing public scrutiny have created additional challenges. Thus, safety equipment such as fire and gas monitoring and detection, SCADA, and HIPPS installation is of utmost importance.
  • Further, many companies offer controllers for emergency and safety shutdown duties and handle complex equipment maintenance in the petrochemical plant. For instance, HIMA, a smart safety company, offers controllers that perform classic emergency shutdown duties and handle complex equipment functions. The SafeEthernet protocol ensures safe cross-communication between controllers at safety integrity level 3 (SIL 3). It also offers fast response times in a safety shutdown, and the high operational safety (SIL 3) within safety-critical production processes contribute to the acetylene plant’s high availability and productivity.
 hima safety instrumented systems

Asia Pacific is Expected to Witness High Growth Rate

  • In many industrial processes and automation systems, safety instrumented systems play an important role in delivering protective layer functions. The term "safety system engineering" refers to a disciplined and methodical approach to hazard identification, safety requirement specifications, and system maintenance and operation throughout the life of a plant. The rise of the petrochemical and energy sectors is critical to the growth of the safety instrumented system industry. Furthermore, as the process sector advances toward embracing greater safety standards, control systems that can manage changes, such as steam turbines, compressors, and variable speed drives, may become necessary to maintain profitability while meeting agile needs.
  • Because of stagnating industrial growth in industrialized countries, demand for valves and actuators has slowed. The government's increasing support for new industries, as well as political conditions, make the country conducive to industrial expansion. As a result, foreign corporations are looking to invest in this industry. In addition, there are ongoing and planned initiatives for establishing water and wastewater treatment plants in the region. For example, the Cambodian government and the Japanese International Cooperation Agency struck an agreement to construct a wastewater treatment plant in the Dangkor area. With a USD 25 million investment, the project aims to improve the drainage infrastructure in the district so that wastewater can flow directly to the plant rather than into the river. Such projects are expected to fuel the market for safety instrumentation systems in the Asia Pacific region.
  • The food and beverage sector has a moral and legal responsibility to protect its employees. Heavy machinery, hazardous chemicals, and slick surfaces are among the immediate concerns, while dust inhalation, hearing loss, and repetitive strain injuries are among the more gradual threats. Coca-Cola, the world's largest beverage company, has noticed a surge in demand for sugar-free and low-sugar beverages in Southeast Asia. After the COVID-19 epidemic, this became more prominent.
  • Due to rapidly increasing industrial activity, rising cost pressures and production rates, and favorable government policies in developing countries like China and India, the Asia Pacific area is predicted to grow the fastest. Manufacturers have responded by developing new goods for specific uses in response to changing demands based on usage. Furthermore, an increase in the number of safety instrumented systems has resulted in the creation of more complex systems. Furthermore, the use of these systems has increased in the oil and gas, chemicals, and power industries because they help monitor usage hours, different aspects of boiler management, stack temperature, boiler, and fuel efficiency, all of which are important in this business.
  • Moreover, at the 2020 National People's Congress, the CCP announced that in addition to doubling down on its Made in China 2025 and China Standards 2035 initiatives, it might spend approximately USD 1.4 trillion on a digital infrastructure public spending program. China's New Infrastructure initiative presents exciting opportunities for global companies. Owing to the same, the number of SIS equipment adopters in different sectors, such as new energy vehicles, oil and gas, 5G equipment, logistics, and energy and power, is expected to grow, providing a boost to the growth of the market in the region.
industrial safety system market

Safety Instrumented System Industry Overview

The Global Safety Instrumented Systems Market is moderately competitive with several major players like Siemens AG, ABB Ltd., Schneider Electric SE, etc. In terms of market share, few significant players currently dominate the market. With a prominent share in the market, these major players are focusing on expanding their customer base across foreign countries. These companies are leveraging strategic collaborative initiatives to increase their market share and profitability. The competition, rapid technological advancements, and frequent changes in consumer preferences are expected to threaten the market's growth of the companies during the forecast period.

  • January 2021 - ABB Ltd. Launched ABB Ability Safety Plus for hoists, the first fully SIL 3 certified mine hoist solutions with the highest level of safety. It includes include Safety Plus Hoist Monitor (SPHM), Safety Plus Hoist Protector (SPHP), and Safety Plus Brake System (SPBS), including Safety Brake Hydraulics (SBH). It has been designed in accordance with the international 'safety of machinery' standard IEC62061.
  • February 2021 - Yokogawa Electric Corporation announced the addition of new turbidity detectors, chlorine sensor units, and liquid analyzers lineup in its product portfolio for water treatment facilities.

Safety Instrumented System Market Leaders

  1. Rockwell Automation Inc.

  2. Emerson Electric Company

  3. Honeywell International Inc.

  4. Yokogawa Electric Corporation

  5. ABB Ltd

*Disclaimer: Major Players sorted in no particular order

Rockwell Automation Inc., Emerson Electric Company, Honeywell International Inc.,  Yokogawa Electric Corporation, ABB Ltd, Schneider Electric SE
bookmark Need More Details on Market Players and Competitors?
Download PDF

Safety Instrumented System Market News

  • January 2021 - ProSafe-RS Lite, a safety integrity level 2 (SIL2*1) version of the ProSafeTM series safety instrumented system, was recently developed by Yokogawa Electric Corporation.
  • March 2021 - BASF's Ludwigshafen, Germany, site has introduced a new production facility with the capacity to produce 90,000 mt/y of acetylene. BASF has opted for safety technology from HIMA, Brühl, Germany, which consists of hardware, software, and engineering to protect and secure safety-critical production processes in the complex project.
  • June 2021 - Intel announced that select SKUs in its Intel Atom x6000E series of processors had obtained IEC61508 SIL2 and ISO13849 certification from TÜV SÜD, a certification agency, for applications that must adhere to strict safety standards. These processors are targeted at consumer and industrial applications where automatic protections are in place to improve SIS. These include stationary robotic controllers, autonomous mobile robots, transportation (fleet management and signaling systems), and avionics (flight navigation and communications).

Safety Instrumented System Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

      1. 4.1.1 Threat of New Entrants

      2. 4.1.2 Bargaining Power of Buyers

      3. 4.1.3 Bargaining Power of Suppliers

      4. 4.1.4 Threat of Substitute Products

      5. 4.1.5 Intensity of Competitive Rivalry

    2. 4.2 Assessment of the Impact of COVID-19 on the Market

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Growing Regulatory Environment in the Industry

      2. 5.1.2 Presence of Robust SIS Service Ecosystem

    2. 5.2 Market Restraints

      1. 5.2.1 Operational Complexity Coupled with High Maintenance Costs

  6. 6. Market SEGMENTATION

    1. 6.1 By Application

      1. 6.1.1 Emergency Shutdown Systems (ESD)

      2. 6.1.2 Fire and Gas Monitoring and Control (F&GC)

      3. 6.1.3 High Integrity Pressure Protection Systems (HIPPS)

      4. 6.1.4 Burner Management Systems (BMS)

      5. 6.1.5 Turbo Machinery Control

      6. 6.1.6 Other Applications

    2. 6.2 By End-User

      1. 6.2.1 Chemicals and Petrochemicals

      2. 6.2.2 Power Generation

      3. 6.2.3 Pharmaceutical

      4. 6.2.4 Food and Beverage

      5. 6.2.5 Oil and Gas

      6. 6.2.6 Other End Users

    3. 6.3 By Geography

      1. 6.3.1 North America

      2. 6.3.2 Europe

      3. 6.3.3 Asia Pacific

      4. 6.3.4 Latin America

      5. 6.3.5 Middle East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Rockwell Automation Inc.

      2. 7.1.2 Emerson Electric Company

      3. 7.1.3 Honeywell International Inc.

      4. 7.1.4 Yokogawa Electric Corporation

      5. 7.1.5 ABB Ltd

      6. 7.1.6 Schneider Electric SE

      7. 7.1.7 Siemens AG

      8. 7.1.8 HIMA Paul Hildebrandt GmbH

      9. 7.1.9 SIS-TECH Solutions LP

      10. 7.1.10 Schlumberger Limited

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OF THE MARKET

bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Safety Instrumented System Industry Segmentation

The Safety Instrumented System Market is segmented by Application (Emergency Shutdown Systems (ESD), Fire and Gas Monitoring and Control (F&GC), High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), Turbo Machinery Control), End-user (Chemicals and Petrochemicals, Power Generation, Pharmaceutical, Food and Beverage, Oil and Gas (with a percentage breakdown by Upstream, Downstream, and Midstream), and Geography.

Safety Instrumented Systems (SIS) are being implemented across the industries to complement their process control systems, to 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 across the industries, drives the implementation of SIS.

By Application
Emergency Shutdown Systems (ESD)
Fire and Gas Monitoring and Control (F&GC)
High Integrity Pressure Protection Systems (HIPPS)
Burner Management Systems (BMS)
Turbo Machinery Control
Other Applications
By End-User
Chemicals and Petrochemicals
Power Generation
Pharmaceutical
Food and Beverage
Oil and Gas
Other End Users
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
customize-icon Need A Different Region Or Segment?
Customize Now

Safety Instrumented System Market Research FAQs

The Global Safety Instrumented System Market size is expected to reach USD 4.60 billion in 2024 and grow at a CAGR of 6.93% to reach USD 6.43 billion by 2029.

In 2024, the Global Safety Instrumented System Market size is expected to reach USD 4.60 billion.

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

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Middle East and Africa accounts for the largest market share in Global Safety Instrumented System Market.

In 2023, the Global Safety Instrumented System Market size was estimated at USD 4.30 billion. The report covers the Global Safety Instrumented System Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Safety Instrumented System Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Safety Instrumented System Industry Report

Statistics for the 2024 Safety Instrumented System market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Safety Instrumented System analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

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