- The key vendors in the Global Process Safety System Market 2015-2019 are ABB Group, Honeywell International Inc., Rockwell Automation Inc., Siemens AG and Yokogawa Electric Corp.
London, 17 February 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Global Process Safety System Market 2015-2019. Growth in the main automation contractor concept is one major trend upcoming in the market. This creates huge opportunities for automation manufacturers. End-users are increasingly banking on automation manufacturers to be Main Automation Contractors that can provide them with complete solutions to all their automation requirements. The MAC is responsible for coordinating, installing, and maintaining all automation and related activities for end-users, including installation of process safety systems. The overall market is expected to grow at a CAGR of 6.77 percent during the forecast period of 2014-2019.
“Process safety system manufacturers are not only increasing their product portfolio by acquiring companies with end-user specific products but also work closely with the end-users in developing products according to their requirements,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
