Process Safety Services Market Size, Share & Trends Analysis Report and Segment Forecast (2024-2031)

Process safety refers to safeguarding property and people from catastrophic and episodic events that can occur due to unplanned or unexpected changes in process conditions. Customers can use process safety services to meet their health, safety, and environmental compliance requirements systematically. Consulting, auditing, training, and certification are significant assistance provided by the process safety services sector. Process safety service providers aid in increasing productivity and dependability, improving safety and security, and improving overall corporate performance by providing a method for identifying and controlling the risks associated with processes.

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As modern industries are focused on producing maximum results and manufacturing efficiency rather than safe production, the number of accidents and catastrophic events has increased over the years. Several variables frequently cause accidents, each depending on the situation. It could be a combination of risky work practices and an unsafe working environment, or it could be both.As per data, in the EU-27 in 2018, 3.1 million non-fatal accidents resulted in at least four calendar days off work and 3,332 fatal incidents, resulting in a ratio of approximately 940 non-fatal accidents for every deadly accident. The overall number of non-fatal workplace accidents in the EU-27 increased by 8,137 between 2017 and 2018, indicating an upward trend equivalent to a growth of 0.3 percent. There were 60 more fatal workplace accidents in the EU-27 in 2018, equivalent to an increase of 1.8 percent. Men were far more likely to be involved in workplace accidents than women. Men were involved in more than two out of every three (68.4%) non-fatal workplace accidents in the EU-27 in 2018.

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Segment Analysis

Based on services, the global process safety services market is segmented into consulting, training, certification, and auditing. Among the services, certification is expected to dominate the global process safety services market during the forecast period due to growing process safety awareness among people and governments. The governments of modernity are mandating several certifications for process safety that needs to be fulfilled by the company to operate without facing any scrutiny or repercussions. As a result, the certification segment of the global process safety market is expected to witness a global hike during the forecast period.

Competitive Landscape

The global process safety services market is highly competitive and accommodates several local and global brands. Some key players in the market are Bureau Veritas, RRC Global, ABB, HIMA, Intertek Group plc, SGS SA, Rockwell Automation, Inc, Johnson Controls, Smith & Burgess Process Safety Consulting, and Process Engineering Associates, LLC, among others.

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