Keywords: Safety Instrumented System (SIS), Emergency Shut Down (ESD), Fire and Gas, Rotating Equipment Safety Systems, Process Industries, Lifecycle Service, China Market Research Study, China Market
According to a new ARC market research study, in 2013, the process safety systems market in China grew faster than most of the other process automation markets due largely to regulatory concerns. ARC expects this trend to continue during the forecast period.
Oil & gas, chemicals, and refining are the key segments for process safety systems in China. The technology has not yet made significant inroads into the country’s pulp & paper, metals, and fossil power generation industries. As a result they should represent future growth areas for process safety systems.
Unlike in the global market, the main automation contractor (MAC) business model has not gained significant traction in China. This creates opportunities for independent domestic safety system suppliers that often promote the perceived safety benefits of disparate process control and safety system technologies. On the other hand, while there is an increasing awareness of the need to improve safety, many owner-operators are looking for an integrated architecture of process safety and process control in their plants to take advantage of the many benefits in operations, engineering, and lifecycle costs.
According to ARC Advisory Group’s research, the process safety systems market in China is expected to gain high sustainable growth by 2018. ARC’s latest study, Process Safety Systems for China Market Research Study provides an in-depth analysis of the process safety systems business in China, including quantitative assessment of market size, segmentations, and forecast trends.
Mega Plants Need High-Availability Safety Systems
According to the principal author of ARC’s study, Rex Sun, “Most process units in today’s mega-sized plants and process run around the clock 365 days per year and any unplanned downtime is almost always extremely costly. As a result, in addition to selecting safety system technology that offers the prerequisite SIL rating, owner-operators seek process safety systems designed to help decrease spurious trips, which has becoming a key buying factor.”
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