openPR Logo
Press release

Process Safety System in the Oil and Gas Market Trends, Business Overview, Industry Growth and Forecast to 2028

05-13-2022 03:15 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Orion Market Research

The global process safety system in the oil and gas market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). The oil and gas industry involves high-risk activities, including exploration, production, and processing of highly flammable & explosive materials. The global process safety system in the oil and gas market is growing due to the rising incidence of accidents in the oil and gas industry. The global market is also growing as the process safety system can increase productivity and decrease labor cost and at the same time provides greater safety. Additionally, the oil and gas industry has to rely on its communication network for its manufacturing and production chain. These day-to-day operation networks which were privately maintained had many emergency crises. Many product parts were unavailable in the market and some of them were mission-critical. Therefore, the oil and gas industry is moving towards a process safety system integrated with IoT, which in turn boosts the growth of the global process safety system in the oil and gas market.

The most common process safety system used in the oil and gas industry is the SCADA system. This system works in all three sectors of the oil and gas refining process which include upstream, midstream, and downstream. In all three processes, the SCADA system gathers data and information from remote locations which reduces the supervisors visiting the sites multiple times. This saves time and money at the same time as well as manages a high volume of output from the refineries. These systems can work in extreme conditions, including explosive atmosphere, high vibration, electromagnetic interface, and extreme operating conditions which are very common in the oil and gas industry.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new launches, to stay competitive in the market. For instance-

•In July 2021, Schneider Electric announced the improved version of its EcoStruxur Triconex Safety View, the industry's first dual safety- and cybersecurity-certified bypass and alarm management software application. EcoStruxure Triconex Safety View allows operators to see both the bypass status that impacts the level of risk reduction in place, as well as the critical alarms required to operate the plant safely when risks are high.
•In October 2020, ABB announced the launch of SafetyInsight helping customers operate high hazard processes to reduce production losses, lower maintenance costs, and optimize safety and compliance. It is a digital software application that supports companies across the energy and process sectors throughout the entire lifecycle of process safety management.
•In February 2019, Rockwell Automation, Inc. announced its partnership with Schlumberger to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider.

(Get 15% Discount on Buying this Report)
Get Sample Copy of Process Safety System in the Oil and Gas Market at: https://orionmarketreports.com/request-sample/?id=106786&submit=Request+Sample%0D%0A

Market Coverage
•The market number available for - 2022-2028
•Base year- 2021
•Forecast period- 2022-2028
•Segment Covered-
•By Type
•By Application
•Regions Covered-
•North America
•Europe
•Asia-Pacific
•Rest of the World

Competitive Landscape- Siemens AG, Emerson Electric Co., Rockwell Automation, Inc. , Honeywell International Inc. and Schneider Electric SE among others.

A full report Process Safety System in the Oil and Gas Market of is available at:  https://orionmarketreports.com/process-safety-system-in-the-oil-and-gas-market/106786/

Global Process Safety System in the Oil and Gas Market Report by Segment
By Type
•Hardware
•Software
•Service
By Application
•Emergency Shutdown
•Fire & Gas Systems
•Burner Management
•Turbo Machinery Control (TMC)
•HIPPS

Key questions addressed by the report
•What is the market growth rate?
•Which segment and region dominate the market in the base year?
•Which segment and region will project the fastest growth in the market?
•How has COVID-19 impacted the market?
•Deviation from the pre-COVID-19 forecast
•Most affected region and segment
•Who is the leader in the market?
•How players are addressing challenges to sustain growth?
•Where is the investment opportunity?

 
Media Contact:

Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404

About Us:

Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Process Safety System in the Oil and Gas Market Trends, Business Overview, Industry Growth and Forecast to 2028 here

News-ID: 2624163 • Views:

More Releases from Orion Market Research

AI-Enabled Imaging Modalities Market Rising Demand and Growth Forecast Through 2033
AI-Enabled Imaging Modalities Market Rising Demand and Growth Forecast Through 2 …
AI-enabled imaging modalities market was valued at approximately USD 1.36 billion, and it is projected to reach around USD 19.78 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 34.67% from 2024 to 2033. AI-Enabled Imaging Modalities Market Overview The AI-enabled imaging modalities market is experiencing rapid growth, driven by advancements in artificial intelligence and machine learning technologies. These innovations are enhancing the capabilities of various imaging modalities, including
Tumor Tracking Systems Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
Tumor Tracking Systems Market Size Analysis, Competitive Insights, Leading Playe …
Global tumor tracking systems market was valued at approximately USD 3.5 billion, and it is projected to reach around USD 6.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 5% from 2024 to 2033. Tumor Tracking Systems Market Overview The tumor tracking systems market is experiencing steady growth, driven by the increasing incidence of cancer and advancements in imaging and tracking technologies. These systems improve the precision of
Tumor Tracking Systems Market Size Future Scope, Demands and Projected Industry Growths to 2033
Tumor Tracking Systems Market Size Future Scope, Demands and Projected Industry …
Tumor tracking systems market was valued at approximately USD 3.5 billion, and it is projected to reach around USD 6.6 billion by 2033, reflecting a compound annual growth rate (CAGR) of about 5% from 2024 to 2033. Tumor Tracking Systems Market Overview The tumor tracking systems market is experiencing steady growth, driven by the increasing prevalence of cancer and advancements in imaging technologies. These systems play a crucial role in enhancing the
SNP genotyping Market Size Analysis, Competitive Insights, Leading Players and Growth Opportunities by 2033
SNP genotyping Market Size Analysis, Competitive Insights, Leading Players and G …
SNP genotyping market was valued at approximately USD 31.66 billion, and it is projected to reach around USD 238.25 billion by 2034, reflecting a compound annual growth rate (CAGR) of about 20.1% from 2024 to 2034. SNP genotyping Market Overview The SNP genotyping market is experiencing significant growth, driven by advancements in genotyping technologies, an increase in the prevalence of genetic disorders, and the expansion of pharmacogenomics and precision medicine initiatives. This

All 5 Releases


More Releases for Safety

Water-Filled Barricades Market Report Analysis, Research Studies | OTW Safety, S …
DataM Intelligence has published a new research report on "Water-Filled Barricades Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Regional Growth, Segmentation, CAGR, Business Revenue Status of Top Key Players and Drivers. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status. Get a Free Sample Research PDF -
Safety Eyewear Market Size Development Trends, Analysis and Forecast by 2028 | B …
Global Safety Eyewear Market is an exploration report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. These bits of knowledge offered in the Safety Eyewear Market report would benefit request players to define systems for the future and gain a solid situation in the worldwide market request development.
Welding Safety Market Business Opportunities 2026 - Top Companies are 3M Welding …
A new research study has been presented by Dataintelo.com offering a comprehensive analysis on the Global Welding Safety Market where user can benefit from the complete market research report with all the required useful information about this market. The report discusses all major market aspects with expert opinion on current market status along with historic data. This market report is a detailed study on the growth, investment opportunities, market statistics,
Fire Blanket Market By Key Players: Tyco International, Kidde Safety, Honeywell …
Fire Blanket Industry Overview The Fire Blanket market research study relies upon a combination of primary as well as secondary research. It throws light on the key factors concerned with generating and limiting Fire Blanket market growth. In addition, the current mergers and acquisition by key players in the market have been described at length. Additionally, the historical information and current growth of the market have been given in the scope of the research report. The latest trends, product portfolio, demographics, geographical segmentation, and regulatory framework of the Fire Blanket market
A Latest Research On Welding Safety Market Global Analysis By Key Players-3M Wel …
UpMarketResearch offers a latest published report on “Global Welding Safety Market Industry Analysis and Forecast 2018-2023” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 91 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability. The report contains basic, secondary and advanced information pertaining to the Welding Safety global status and
Excellent Growth of Gas Masks Market- 3M, Honeywell, Avon Protection Systems, MS …
MarketResearchNest.com adds “Korea Gas Masks Market Research Report 2018” new report to its research database. The report spread across 112 pages with multiple tables and figures in it. Korea plays an important role in global market, with market size of xx million USD in 2017 and will be xx million USD in 2025, with a CAGR of xx%. This report studies the Gas Masks development status and future trend in Korea, focuses