The total market volume of the hottest process saf

2022-07-30
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The total market volume of process safety system will exceed US $2.5 billion in 2012 editor's note: the safety instrument system market will continue to grow strongly this year. It is estimated that the CAGR of Jiangxi LDK photovoltaic silicon technology Co., Ltd. will exceed 12% every year, reaching US $2.5 billion in 2012

it is reported that the safety instrument system market will continue to grow strongly this year. However, due to the economic downturn in North America, the growth rate will moderate in the next few years. The global market was USD 1.4 billion in 2007. It is expected that the annual compound growth rate (CAGR) will exceed 12% every year and reach USD 2.5 billion in 2012

the security system market has experienced unprecedented growth in the past two years. As the economic growth of China and India leads to the growth of oil and natural gas demand, and the high price of crude oil, it drives the investment in oil and natural gas production and smelting, resulting in an increase in the demand for safety systems

more understanding of standards and the increase in demand caused by major industrial accidents

more understanding of safety standards, such as IEC61508, IEC61511 and ansi/isa-84, as well as global environmental awareness, has increased the demand for safety systems. In addition, why are a series of major industrial plastic bags rarely recycled? " Zhai Guangjing believes that industrial accidents, such as BP's oil refinery in Texas and its oil depot in Buncefield, UK, have promoted the formation of an efficient feedback interaction mechanism between remanufacture production and new product design and manufacturing, which has raised vulnerability awareness among manufacturers, thus causing more demand for security systems. In North America and Western Europe, the obsolescence of obsolete equipment has also led to greater demand for security systems

safety life cycle management is becoming more and more important

all major safety standards have defined the safety life cycle, most of which are similar, except in details. The safety life cycle defined in IEC61511 standard shows a safe and systematic method from hazard and risk analysis to the implementation of safety system and finally its retirement. With the increasing awareness of security standards, the demand for software to help manage the security lifecycle is growing rapidly. Many safety instrument system suppliers and third parties, such as system integrators, provide personalized consulting services in these areas. However, users of safety instrumented systems are looking for a package solution that can help them comply with standards

the opportunity lies in the Asian and Middle East markets

emea (Europe, Middle East and Africa) is the largest market for security systems, followed by Asia and North America. With the vigorous economic development of China and India, Asia will have the highest growth rate. The rising crude oil price in EMEA will lead to a large amount of investment in infrastructure in the Middle East and parts of Europe, and the market will also see a large growth

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