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Latin America Safety Instrumented Systems Market - By Components (Sensors, Switches, Programmable Devices, Actuators and Valves), Products (ESD, Safety Interlock Systems, SSD, Fire and Gas Monitoring and Control, HIPPS, BMS, TMC), Industry, Geography, Trends, Forecast - (2017 - 2022)

The Latin America Safety instrumented Systems market is valued at USD XX.XX billion in 2016 and is expected to reach a value of USD XX.XX billion by the end of 2022, growing at a projected CAGR of XX.XX% during the forecast period of 2017 – 2022.The Latin American market is still premature and its technological advancements are still in its nascent stages. However, the growing economy, expanding population levels, and foreign investments are a strong sign of growth for new markets. The consistent rise for imports of goods and services indicate higher consumption rate in the Latin American region. The usage for safety-instrumented systems has now become more than just some government regulatory standard and is now, a requirement in almost all the developing and emerging sectors. The various operations in industrial processes involve many risks, especially in the Chemicals & Gases sectors. The usage of these safety-instrumented systems is to ensure protection of the personnel, equipment and environment. A safety-instrumented system is designed to safeguard all the industrial processes in hazardous zones.   The Latin America Instrumented-Systems market is broadly segmented based on types, verticals and geographies. Similarly, based on the type of components, the safety-instrumented systems market is segmented into switches, sensors, and programmable safety devices (or) sensors, logic solvers, and final control elements. On the basis of product types, the same has been segmented into Emergency Shutdown Systems (ESD), Safety Interlock Systems, Safety Shutdown Systems (SSD), Fire & Gas monitoring and control, High Integrity Pressure Protection Systems (HIPPS), Burner Management Systems (BMS), and Turbo Machinery Control (TMC).   Finally, based on its verticals, the applications of the Instrumented-Systems are explained under segments such as Chemicals & Petroleum Refinery, Energy & Power, Manufacturing, Pharmaceuticals, Mining, Oil & Gas, and others. Some of the market players mentioned in the report are Rockwell Automation, Siemens, ABB, GE, Schneider Electric, Emerson Process Management and more. Drivers The key factors contributing to the growth of Latin America Safety-Instrumented Systems Market are Industry Safety Standards, Rise in Global Automotive Manufacturing, and Labour Union Force Safety Measures. Challenges Lack of Awareness & Complexity of Standards, Low Response Rate, Product Costs, and Operational Costs are the key challenges for the Safety Instrumented Systems Market. What the report offers 1. Market Definition for the Safety Instrumented Systems along with the identification of key drivers and restraints for the market 2. Market analysis of Safety-Instrumented Systems market, with region specific assessments 3. Identification of factors instrumental in changing the market scenarios, offering prospective opportunities and in the identification of key companies, which can influence the market on the global and regional fronts 4. Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares 5. Identification and analysis of the Macro and Micro factors that affect the Latin America Safety Instrumented Systems market on both the global and regional scales 6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information  

Published By: Mordor Intelligence
Published Date: Q1 2017

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