Safety Programmable Controller Market

Safety Programmable Controllers Market Analysis

The Safety Programmable Controller Market is expected to register a CAGR of 6.5% during the forecast period.

• Increased adoption of automation systems, coupled with safety awareness, is driving the market. PLCs can be easily reprogrammed and designed to the wanted characteristics and it is possible to embed multiple devices, like memory shells and timers, in one PLC by which it is very easy to control and manage energy costs with quality improvement and reduced production cost.
• Demand for safety equipment and the need for simplified configuration is driving the market. Safety PLC combine the functionality of a control system with a safety system in one controller platform, allowing manufacturers to greatly reduce machine life cycle costs. Safety system designs utilizing safety PLCs deliver multiple layers of protection that work together to provide a safe control system. When unexpected events arise, each layer can mitigate the effect of the fault. Safety PLCs from Siemens have led the way creating this "Layers of Protection" concept, achieving the level of protection required for the controller to earn a SIL 3 safety rating.

However, safety PLCs are very expensive and require high initial investment compared to standard PLC counterparts, including hardware, software and services costs, which could hinder the growth of the market.

Safety Programmable Controllers Market Trends

Oil and Gas Industry to Witness a Significant Growth

• In the oil and gas industry processes, there is usually a great demand for safety and reliability and according to the US Energy Information Administration, the world’s annual energy consumption of oil and gas is projected to increase steadily from less than 200 quadrillion BTU in 2015 to nearly 250 quadrillion BTU by 2040.
• The oil and refinery gas industry is a mostly manual system with many risks, such as explosion hazards, fire hazards, lightning, radiation, etc.
• With demand continuing to grow, oil and gas producers need to find new and better ways to capture the energy and their increment in capital spending is mainly on new control equipment for better safety, reliability, and low energy consumption.

North America to Register a Significant Growth Rate

• North America is estimated to hold a major share in the market, owing to rise in industrial investment in the mining and oil and gas sectors, which fueled the utilization of safety programmable controllers, thereby propelling the market growth.
• The current trend of adopting automation and specific benefits, such as better diagnostics capabilities and reduced machine downtime, are other drivers, which are expected to contribute to the growth of the market over the forecast period, in this region.

Safety Programmable Controllers Industry Overview

The safety programmable controller market is fragmented and the major players have used various strategies, such as new product launches, expansions,joint ventures, partnerships, and others, to increase their footprintin this market forsustainability in thelong run. The key players areRockwell Automation,ABB Group, Siemens AG, etc. Recent developments in the market are -

• May 2019 -nVent Electric PLC, a global leader in electrical connection and protection solutions, launched nVent’s RAYCHEM Elexant 4010i, the first smart, connected controller from the Elexant family. It is designed to provide a safe, reliable, and flexible control solution for industrial applications and the Elexant 4010i makes the control and maintenance of heat tracing technology smarter, safer and more cost-effective.

Safety Programmable Controllers Market Leaders