Process safety systems: Operational performance, compliance needs driving market growth

The market for industrial process safety systems is projected to more than double between 2006 and 2013, growing at a rate of 10.8 percent, reaching $2.1 billion, according to Cambridge, Mass.-based Frost & Sullivan.

03/29/2008


The market for industrial process safety systems is projected to more than double between 2006 and 2013, growing at a rate of 10.8 percent, reaching $2.1 billion, according to Cambridge, Mass.-based Frost & Sullivan . Much of the growth will be driven by new greenfield plants anticipated to come online between by 2013, but also by process manufacturers seeking to reduce costs and ensure greater uptime by improving process safety.
The economic boom in Asia-Pacific will be a center much of the market growth.
“A huge driver is that process automation is making big strides in the industry, reducing the need for large numbers of operators. Yet with fewer workers, there is still a great need to ensure safety,” says Muthuraman Ramasamy,” Frost & Sullivan research analyst. “This brings renewed focus on employee and plant safety to maximize all available assets and reduce overall costs.”
Ensuring compliance and improving safety reduces costly downtime while positively impacting efficiency, productivity, and output, he adds.
Companies are looking for vendors with sophisticated systems and specific industry domain expertise installing them. “They’re looking for systems with flexible architectures and open communication with existing systems,” as well as strong predictive diagnostics, says Ramasamy.
The challenge to vendors is increased market education regarding the full range of benefit of newer safety systems.
“There’s a tendency for some customers to live within a protective cocoon, believing that their legacy, homegrown systems will fully protect them,” Ramasamy says. The industry has an aging workforce that necessitates greater emphasis on process knowledge retention, putting the burden on vendors to understand the complexity of plant design requirements.





No comments
The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
The Engineering Leaders Under 40 program identifies and gives recognition to young engineers who...
Safer human-robot collaboration; 2017 Maintenance Survey; Digital Training; Converting your lighting system
IIoT grows up; Six ways to lower IIoT costs; Six mobile safety strategies; 2017 Salary Survey
2016 Top Plant; 2016 Best Practices on manufacturing progress, efficiency, safety
Future of oil and gas projects; Reservoir models; The importance of SCADA to oil and gas
Big Data and bigger solutions; Tablet technologies; SCADA developments
SCADA at the junction, Managing risk through maintenance, Moving at the speed of data
What controller fits your application; Permanent magnet motors; Chemical manufacturer tames alarm management; Taking steps in a new direction
Commissioning electrical systems; Designing emergency and standby generator systems; Paralleling switchgear generator systems
Package boilers; Natural gas infrared heating; Thermal treasure; Standby generation; Natural gas supports green efforts

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Motion control advances and solutions can help with machine control, automated control on assembly lines, integration of robotics and automation, and machine safety.
This article collection contains several articles on preventing compressed air leaks and centrifugal air compressor basics and best practices for the "fifth utility" in manufacturing plants.
Maintenance Manager; California Oils Corp.
Associate, Electrical Engineering; Wood Harbinger
Control Systems Engineer; Robert Bosch Corp.
click me