Safety Instrumented System Market Size and Forecasts (2020 – 2030)

Safety Instrumented System Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Application (Emergency Shutdown Systems, Fire and Gas Monitoring and Control, High Integrity Pressure Protection Systems, Burner Management Systems, and Turbo Machinery Control) and End User (Chemicals & Petrochemicals, Oil & Gas, Power Generation, Pharmaceutical, Food & Beverages, and Others)

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Description

The safety instrumented system market is expected to grow from US$ 4.23 billion in 2022 to US$ 7.14 billion by 2030; it is estimated to record a CAGR of 6.7% from 2022 to 2030.

China is the largest producer of chemicals across the world. According to Cefic, the European Chemical Industry Council, in 2021, the country contributed 43% of global chemical sales of around US$ 1,839.1 billion (EUR 1,729 billion). Various market players in the country are working on expanding their manufacturing facilities. In January 2023, China’s Sinopec Corp announced that they had started constructing a US$ 1.56 billion (CNY 10.8 billion) project in a northern subsidiary refinery to manufacture high-end chemicals. The project is built alongside Sinopec’s Shijiangzhuang refinery in Hebei province. In addition, in October 2022, BASF announced that it would be constructing a Neopentyl Glycol (NPG) plant at its new Zhanjiang Verbund site in China. The plant is expected to be operational by Q4 of 2025 and will have an annual production capacity of 80,000 metric tons. Similarly, the chemical industry in South Korea has witnessed tremendous growth in the recent years. According to the International Trade Administration (ITA), in 2020, the country was ranked fifth across the world as per the production scale. Various chemical manufacturers in the country are constructing new production facilities to boost production. In September 2021, Hanwha Corp. announced its plan to build a nitric acid production plant by 2024. This plant will provide an annual capacity of 400,000 tons in Yeosu Industrial Complex, South Korea. For this, the company will invest US$ 162 million (190 billion won). Also, in February 2023, LOTTE INEOS Chemical announced its plan to increase Vinyl Acetate Monomer (VAM) production capacity from the current 450,000 tonnes to 700,000 tonnes. For this, the company will be constructing its third VAM production plant in South Korea, which is scheduled to be operational by the end of 2025. Thus, the growing construction of chemical manufacturing plants in the above countries will raise the demand for safety instrumented systems as it can help to reduce risks such as accidents and injury and improve productivity, fueling the growth of the safety instrumented system market in the forecasted period.

ABB Ltd, Applied Control Engineering Inc, AVEVA Group plc, Emerson Electric Co, HIMA, Honeywell International, Rockwell Automation Inc, Schneider Electric, Siemens AG, and Yokogawa Electric Corporation are among the key safety instrumented system market players profiled in this market study. Several other essential safety instrumented system market players were analyzed for a holistic view of the market and its ecosystem.

The overall safety instrumented system market size has been derived using both primary and secondary sources. To begin the safety instrumented system market research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the safety instrumented system market. The process also serves the purpose of obtaining an overview and market forecast of the safety instrumented system market growth with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights about the topic. Participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the safety instrumented system market.

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TABLE OF CONTENTS

1. Introduction
1.1 Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific RTD Cocktails Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distribution Channel:
5. Asia Pacific RTD Cocktails Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Strong Preference for RTD Alcoholic Beverages Among Consumers
5.1.2 Strategic Development Initiatives by Manufacturers
5.2 Market Restraints
5.2.1 Complex and Diverse Regulations
5.3 Market Opportunities
5.3.1 Consumer Inclination Towards Innovative Flavors
5.4 Future Trends
5.4.1 Influence of social media and Celebrities
5.5 Impact of Drivers and Restraints:
6. RTD Cocktails Market – Asia Pacific Market Analysis
6.1 RTD Cocktails Market Revenue (US$ Million), 2020 – 2030
6.2 Asia Pacific RTD Cocktails Market Forecast and Analysis
7. Asia Pacific RTD Cocktails Market Analysis – Base Type
7.1 Malt Based
7.1.1 Overview
7.1.2 Malt Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.2 Tequila Based
7.2.1 Overview
7.2.2 Tequila Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.3 Vodka Based
7.3.1 Overview
7.3.2 Vodka Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.4 Whiskey Based
7.4.1 Overview
7.4.2 Whiskey Based Market Volume, Revenue and Forecast to 2030 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others Market Volume, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific RTD Cocktails Market Analysis – Packaging Type
8.1 Bottles
8.1.1 Overview
8.1.2 Bottles Market Value, Revenue and Forecast to 2030 (US$ Million)
8.2 Cans
8.2.1 Overview
8.2.2 Cans Market Value, Revenue and Forecast to 2030 (US$ Million)
8.3 Others
8.3.1 Overview
8.3.2 Others Market Value, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific RTD Cocktails Market Analysis – Distribution Channel
9.1 Supermarkets & Hypermarkets
9.1.1 Overview
9.1.2 Supermarkets & Hypermarkets Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.2 Specialty Stores
9.2.1 Overview
9.2.2 Specialty Stores Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.3 Online Retail
9.3.1 Overview
9.3.2 Online Retail Market Value, Revenue, and Forecast to 2030 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others Market Value, Revenue, and Forecast to 2030 (US$ Million)
10. Asia Pacific RTD Cocktails Market – Country Analysis
10.1 Asia Pacific RTD Cocktails Market
10.1.1 Overview
10.1.2 Asia Pacific RTD Cocktails Market Breakdown by Country
10.1.2.1 RTD cocktails market Breakdown by Country
10.1.2.2 Australia RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.2.1 Australia RTD Cocktails Market Breakdown by Base Type
10.1.2.2.2 Australia RTD Cocktails Market Breakdown by Packaging Type
10.1.2.2.3 Australia RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.3 China RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.3.1 China RTD Cocktails Market Breakdown by Base Type
10.1.2.3.2 China RTD Cocktails Market Breakdown by Packaging Type
10.1.2.3.3 China RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.4 India RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.4.1 India RTD Cocktails Market Breakdown by Base Type
10.1.2.4.2 India RTD Cocktails Market Breakdown by Packaging Type
10.1.2.4.3 India RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.5 Japan RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.5.1 Japan RTD Cocktails Market Breakdown by Base Type
10.1.2.5.2 Japan RTD Cocktails Market Breakdown by Packaging Type
10.1.2.5.3 Japan RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.6 South Korea RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.6.1 South Korea RTD Cocktails Market Breakdown by Base Type
10.1.2.6.2 South Korea RTD Cocktails Market Breakdown by Packaging Type
10.1.2.6.3 South Korea RTD Cocktails Market Breakdown by Distribution Channel
10.1.2.7 Rest of Asia Pacific RTD Cocktails Market Revenue and Forecasts To 2030 (US$ Million)
10.1.2.7.1 Rest of Asia Pacific RTD Cocktails Market Breakdown by Base Type
10.1.2.7.2 Rest of Asia Pacific RTD Cocktails Market Breakdown by Packaging Type
10.1.2.7.3 Rest of Asia Pacific RTD Cocktails Market Breakdown by Distribution Channel
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. RTD Cocktails Market Industry Landscape
12.1 Overview
12.2 Merger and Acquisitions
12.3 Expansion
12.4 Product Launch
13. Company Profiles
13.1 Bacardi Limited
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Beam Suntory Inc
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Constellation Brands Inc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 New Holland Brewing Co LLC
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
14. Appendix

In progress
In progress

The List of Companies – Safety Instrumented System Market
– ABB Ltd
– Applied Control Engineering Inc
– AVEVA Group plc
– Emerson Electric Co
– HIMA, Honeywell International
– Rockwell Automation Inc
– Schneider Electric
– Siemens AG
– Yokogawa Electric Corporation

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