San Francisco, California, September 07, 2017: TMR Research presents a new report on the global process safety system market for the period between 2017 and 2025. The report, titled “Process Safety System Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” discusses growth trends, market indices, and competitive strategies that are important for a know-how of the growth trajectory of the global process safety system market for the aforementioned forecast period.
The report has been compiled after an extensive research phase followed by scrutiny of the collected data. Analysts also conducted in-person interviews with industry experts to obtain their viewpoint regarding growth of the process safety system market over the forecast period. The comprehensive analysis of the global process safety system market presented herein can be leveraged by business analysts to make informed decision making.
Process safety system involves processes for preventing fires, accidental release of chemicals and hazardous materials, and explosions. The objective of deployment of process safety systems is to take necessary measures that are needed to minimize hazard to personnel and to the environment. For instance, in oil and gas industry, discovery of new oil fields and to make them operational involves a high risk factor. As per the data from the Centers for Disease Control and Prevention, in the U.S., the oil and gas industry registered fatalities seven times higher than all other industries between 2003 and 2010.
The global process safety system market can be analyzed on the basis of end user and geography. Depending upon end-use, the segments into which the global process safety system market can be divided are oil and gas, pharmaceuticals, chemical, refining, and power generation. Apart from this, process safety systems find extensive applications in other industries that involve hazardous operations and considerably utilize volatile compounds and toxic chemicals.
The segments into which the global process safety system market can be divided based on geography are North America, Asia Pacific, Europe, and Rest of the World. In North America, the U.S. and Canada are the key domestic markets for process safety systems. France, Germany, Russia, and the U.K. are the key domestic markets in Europe. The key domestic markets for process safety system in Asia Pacific are Japan, Malaysia, Australia, India, South Korea, and China. These countries have been identified based on their process safety system capabilities for economic and social welfare especially in oil and gas, chemical, and manufacturing industries.
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