The North America process safety services market prioritizes industrial safety, employing solutions to prevent and mitigate risks in handling hazardous substances. This framework emphasizes sound design, engineering, and operational practices for the integrity of systems managing such materials. Process safety services encompass designing, certifying, inspecting, and testing processes within industries, aiming to avert accidents and equipment damage while ensuring the well-being of personnel and the environment.
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Data Bridge Market Research analyses that the North America Process Safety Services Market, which was USD 6,590.13 million in 2022, is expected to reach a value of USD 15,630.61 million by 2030, at a CAGR of 11.4% during the forecast period of 2023 to 2030. Stringent regulations compel companies to implement rigorous process safety measures, increasing the demand for services that guarantee compliance. The focus on regulatory adherence underscores the critical role of process safety services in industrial operations.
Key Findings of the Study
Rising need for improvement in manufacturing management is expected to drive the market's growth rate
The rising demand for enhanced manufacturing management prompts a need for heightened process safety services. As industries prioritize efficiency and quality control, the imperative for robust safety measures becomes evident. Companies seek comprehensive services to ensure compliance with safety standards and prevent operational disruptions. The dynamic landscape of manufacturing management underscores the pivotal role of process safety services in fostering secure, efficient, and sustainable industrial practices.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Solution and Services), Safety Integrity Level (Level 2, Level 3, Level 1, and Level 4), End User (Process Manufacturing, Automotive and Discrete Manufacturing, Utilities, Government, Construction and Real Estate, Retail, and Others)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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Siemens (Germany), Johnson Controls (Ireland), Honeywell International Inc. (U.S.), Emerson Electric Co. (U.S.), Schneider Electric (France), Bureau Veritas (France), SGS SA (Switzerland), Rockwell Automation (U.S.), ABB (Switzerland), DEKRA (Germany), OMRON Corporation (Japan), Intertek Group plc (U.K.), TÜV SÜD (Germany), SOCOTEC (France), MISTRAS Group (U.S.), HIMA (Germany), Ingenero, Inc. (U.S.), Smith & Burgess Process Safety Consulting (U.S.), Process Engineering Associates LLC (U.S.), and ioKinetic, LLC (U.S.) among others
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The North America process safety services market is segmented on the basis of offering, safety integrity level, and end user.
- On the basis of offering, the North America process safety services market is segmented into solution and services
- On the basis of safety integrity level, the North America process safety services market is segmented into level 1, level 2, level 3, and level 4
- On the basis of end user, the North America process safety services market is segmented into process manufacturing, automotive and discrete manufacturing, utilities, government, construction and real estate, retail, and others
Major Players
Data Bridge Market Research recognizes the following companies as the major North America process safety services market players in North America process safety services market are Siemens (Germany), Johnson Controls (Ireland), Honeywell International Inc. (U.S.), Emerson Electric Co. (U.S.), Schneider Electric (France), Bureau Veritas (France), SGS SA (Switzerland), Rockwell Automation (U.S.)
Market Developments
- In June 2022, Mitsubishi Electric Corporation's U.S. subsidiary, Mitsubishi Electric Power Products, Inc. (MEPPI), secured a contract from Holtec International to accelerate the design engineering of safety instrumentation and control systems (I&C) for Holtec's SMR-160 small modular reactor. This advanced reactor boasts efficient safety and reliability, including a natural cooling capability in the event of accidents, enhancing its safety profile
- In April 2022, TÜV SÜD unveiled a strategic collaboration with ioMosaic, enhancing its service portfolio with digital applications for increased efficiency. This collaboration aims to provide customers with comprehensive services, fostering brand value growth in the market. The integration of digital solutions signifies a commitment to innovation, positioning TÜV SÜD as a leading provider in delivering advanced and efficient services
- In December 2021, Honeywell revealed its acquisition with U.S. Digital Designs, Inc., a Tempe, Ariz.-based company, in an all-cash transaction approximately 14 times EBITDA. Specializing in alerting and dispatch communication solutions, the acquisition is set to integrate into Honeywell's Fire and Connected Life Safety systems business, broadening the portfolio for public safety communications. The move aims to empower first responders with heightened situational awareness and improved life safety measures during building emergencies
- In September 2021, Siemens unveiled a strategic collaboration with Zscaler to enhance cybersecurity for Operational Technology (OT) applications and systems. This collaboration empowers users to manage and control quality assurance or diagnostic issues remotely. By leveraging Zscaler's expertise, Siemens strengthens the security infrastructure, ensuring seamless and secure access to critical OT components for efficient remote operations and diagnostics
- In October 2020, ABB revolutionized process safety by launching ABB Ability Safety Insight. This digital suite comprises software applications designed to comprehensively support companies in the energy and process sectors throughout the process safety management lifecycle. ABB's initiative significantly bolstered its position in the market by delivering advanced solutions for enhanced process safety management
Regional Analysis
Geographically, the countries covered in the North America process safety services market report are U.S., Canada and Mexico in North America.
As per Data Bridge Market Research analysis:
U.S. is estimated to be the fastest growing country in North America process safety services market during the forecast period 2023-2030
The U.S. is expected to dominate the North America process safety services market due to its vast and diverse industrial base. With prominent sectors such as oil and gas, chemicals, and manufacturing, the country demonstrates a substantial demand for robust safety measures. This dominance reflects the critical role of process safety services in ensuring the integrity and security of operations across a broad spectrum of industries.
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