Functional Safety Market - Global Outlook and Forecast 2022-2028

January 2022 | 74 pages | ID: FD1C2141D28CEN
Market Monitor Global

Abstracts

The key factors driving the growth of the this market include mandatory functional safety standards and government policies, rising emphasis on proactive functional safety systems, and increasing demand for safety instrumented systems in the chemical and oil & gas industries.

This report contains market size and forecasts of Functional Safety in Global, including the following market information:

Global Functional Safety Market Revenue, 2017-2022, 2023-2028, ($ millions)

Global top five companies in 2021 (%)

The global Functional Safety market was valued at 6007.8 million in 2021 and is projected to reach US$ 10070 million by 2028, at a CAGR of 7.7% during the forecast period.

The U.S. Market is Estimated at $ Million in 2021, While China is Forecast to Reach $ Million by 2028.

Emergency shutdown System Segment to Reach $ Million by 2028, with a % CAGR in next six years.

The global key manufacturers of Functional Safety include Siemens, ABB, Honeywell, General Electric, Schneider Electric, Rockwell Automation, Emerson Electric, Honeywell International and HIMA Paul Hildebrandt, etc. In 2021, the global top five players have a share approximately % in terms of revenue.

MARKET MONITOR GLOBAL, INC (MMG) has surveyed the Functional Safety companies, and industry experts on this industry, involving the revenue, demand, product type, recent developments and plans, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

Global Functional Safety Market, by Type, 2017-2022, 2023-2028 ($ millions)

Global Functional Safety Market Segment Percentages, by Type, 2021 (%)

• Emergency shutdown System
• Turbomachinery Control
• Fire and Gas Monitoring Control
• High Integrity Pressure Protection Systems
• Battery Management Systems
• Supervisory Control and Data Acquisition
• Distributed Control Systems

Global Functional Safety Market, by Application, 2017-2022, 2023-2028 ($ millions)

Global Functional Safety Market Segment Percentages, by Application, 2021 (%)

• Chemical
• Food And Drink
• Water And Sewage
• Pharmaceuticals
• Biotechnology
• Metals & Mining
• Other

Global Functional Safety Market, By Region and Country, 2017-2022, 2023-2028 ($ Millions)

Global Functional Safety Market Segment Percentages, By Region and Country, 2021 (%)

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis

The report also provides analysis of leading market participants including:

Key companies Functional Safety revenues in global market, 2017-2022 (estimated), ($ millions)

Key companies Functional Safety revenues share in global market, 2021 (%)

Further, the report presents profiles of competitors in the market, key players include:

• Siemens
• ABB
• Honeywell
• General Electric
• Schneider Electric
• Rockwell Automation
• Emerson Electric
• Honeywell International
• HIMA Paul Hildebrandt
• Endress+Hauser Management
• TUV Rheinland
• Omron
• Yokogawa Electric
• DEKRA

Contents

1 INTRODUCTION TO RESEARCH & ANALYSIS REPORTS

1.1 Functional Safety Market Definition
1.2 Market Segments
  1.2.1 Market by Type
  1.2.2 Market by Application
1.3 Global Functional Safety Market Overview
1.4 Features & Benefits of This Report
1.5 Methodology & Sources of Information
  1.5.1 Research Methodology
  1.5.2 Research Process
  1.5.3 Base Year
  1.5.4 Report Assumptions & Caveats

2 GLOBAL FUNCTIONAL SAFETY OVERALL MARKET SIZE

2.1 Global Functional Safety Market Size: 2021 VS 2028
2.2 Global Functional Safety Market Size, Prospects & Forecasts: 2017-2028
2.3 Key Market Trends, Opportunity, Drivers and Restraints
  2.3.1 Market Opportunities & Trends
  2.3.2 Market Drivers
  2.3.3 Market Restraints

3 COMPANY LANDSCAPE

3.1 Top Functional Safety Players in Global Market
3.2 Top Global Functional Safety Companies Ranked by Revenue
3.3 Global Functional Safety Revenue by Companies
3.4 Top 3 and Top 5 Functional Safety Companies in Global Market, by Revenue in 2021
3.5 Global Companies Functional Safety Product Type
3.6 Tier 1, Tier 2 and Tier 3 Functional Safety Players in Global Market
  3.6.1 List of Global Tier 1 Functional Safety Companies
  3.6.2 List of Global Tier 2 and Tier 3 Functional Safety Companies

4 MARKET SIGHTS BY PRODUCT

4.1 Overview
  4.1.1 by Type - Global Functional Safety Market Size Markets, 2021 & 2028
  4.1.2 Emergency shutdown System
  4.1.3 Turbomachinery Control
  4.1.4 Fire and Gas Monitoring Control
  4.1.5 High Integrity Pressure Protection Systems
  4.1.6 Battery Management Systems
  4.1.7 Supervisory Control and Data Acquisition
  4.1.8 Distributed Control Systems
4.2 By Type - Global Functional Safety Revenue & Forecasts
  4.2.1 By Type - Global Functional Safety Revenue, 2017-2022
  4.2.2 By Type - Global Functional Safety Revenue, 2023-2028
  4.2.3 By Type - Global Functional Safety Revenue Market Share, 2017-2028

5 SIGHTS BY APPLICATION

5.1 Overview
  5.1.1 By Application - Global Functional Safety Market Size, 2021 & 2028
  5.1.2 Chemical
  5.1.3 Food And Drink
  5.1.4 Water And Sewage
  5.1.5 Pharmaceuticals
  5.1.6 Biotechnology
  5.1.7 Metals & Mining
  5.1.8 Other
5.2 By Application - Global Functional Safety Revenue & Forecasts
  5.2.1 By Application - Global Functional Safety Revenue, 2017-2022
  5.2.2 By Application - Global Functional Safety Revenue, 2023-2028
  5.2.3 By Application - Global Functional Safety Revenue Market Share, 2017-2028

6 SIGHTS BY REGION

6.1 By Region - Global Functional Safety Market Size, 2021 & 2028
6.2 By Region - Global Functional Safety Revenue & Forecasts
  6.2.1 By Region - Global Functional Safety Revenue, 2017-2022
  6.2.2 By Region - Global Functional Safety Revenue, 2023-2028
  6.2.3 By Region - Global Functional Safety Revenue Market Share, 2017-2028
6.3 North America
  6.3.1 By Country - North America Functional Safety Revenue, 2017-2028
  6.3.2 US Functional Safety Market Size, 2017-2028
  6.3.3 Canada Functional Safety Market Size, 2017-2028
  6.3.4 Mexico Functional Safety Market Size, 2017-2028
6.4 Europe
  6.4.1 By Country - Europe Functional Safety Revenue, 2017-2028
  6.4.2 Germany Functional Safety Market Size, 2017-2028
  6.4.3 France Functional Safety Market Size, 2017-2028
  6.4.4 U.K. Functional Safety Market Size, 2017-2028
  6.4.5 Italy Functional Safety Market Size, 2017-2028
  6.4.6 Russia Functional Safety Market Size, 2017-2028
  6.4.7 Nordic Countries Functional Safety Market Size, 2017-2028
  6.4.8 Benelux Functional Safety Market Size, 2017-2028
6.5 Asia
  6.5.1 By Region - Asia Functional Safety Revenue, 2017-2028
  6.5.2 China Functional Safety Market Size, 2017-2028
  6.5.3 Japan Functional Safety Market Size, 2017-2028
  6.5.4 South Korea Functional Safety Market Size, 2017-2028
  6.5.5 Southeast Asia Functional Safety Market Size, 2017-2028
  6.5.6 India Functional Safety Market Size, 2017-2028
6.6 South America
  6.6.1 By Country - South America Functional Safety Revenue, 2017-2028
  6.6.2 Brazil Functional Safety Market Size, 2017-2028
  6.6.3 Argentina Functional Safety Market Size, 2017-2028
6.7 Middle East & Africa
  6.7.1 By Country - Middle East & Africa Functional Safety Revenue, 2017-2028
  6.7.2 Turkey Functional Safety Market Size, 2017-2028
  6.7.3 Israel Functional Safety Market Size, 2017-2028
  6.7.4 Saudi Arabia Functional Safety Market Size, 2017-2028
  6.7.5 UAE Functional Safety Market Size, 2017-2028

7 PLAYERS PROFILES

7.1 Siemens
  7.1.1 Siemens Corporate Summary
  7.1.2 Siemens Business Overview
  7.1.3 Siemens Functional Safety Major Product Offerings
  7.1.4 Siemens Functional Safety Revenue in Global Market (2017-2022)
  7.1.5 Siemens Key News
7.2 ABB
  7.2.1 ABB Corporate Summary
  7.2.2 ABB Business Overview
  7.2.3 ABB Functional Safety Major Product Offerings
  7.2.4 ABB Functional Safety Revenue in Global Market (2017-2022)
  7.2.5 ABB Key News
7.3 Honeywell
  7.3.1 Honeywell Corporate Summary
  7.3.2 Honeywell Business Overview
  7.3.3 Honeywell Functional Safety Major Product Offerings
  7.3.4 Honeywell Functional Safety Revenue in Global Market (2017-2022)
  7.3.5 Honeywell Key News
7.4 General Electric
  7.4.1 General Electric Corporate Summary
  7.4.2 General Electric Business Overview
  7.4.3 General Electric Functional Safety Major Product Offerings
  7.4.4 General Electric Functional Safety Revenue in Global Market (2017-2022)
  7.4.5 General Electric Key News
7.5 Schneider Electric
  7.5.1 Schneider Electric Corporate Summary
  7.5.2 Schneider Electric Business Overview
  7.5.3 Schneider Electric Functional Safety Major Product Offerings
  7.5.4 Schneider Electric Functional Safety Revenue in Global Market (2017-2022)
  7.5.5 Schneider Electric Key News
7.6 Rockwell Automation
  7.6.1 Rockwell Automation Corporate Summary
  7.6.2 Rockwell Automation Business Overview
  7.6.3 Rockwell Automation Functional Safety Major Product Offerings
  7.6.4 Rockwell Automation Functional Safety Revenue in Global Market (2017-2022)
  7.6.5 Rockwell Automation Key News
7.7 Emerson Electric
  7.7.1 Emerson Electric Corporate Summary
  7.7.2 Emerson Electric Business Overview
  7.7.3 Emerson Electric Functional Safety Major Product Offerings
  7.7.4 Emerson Electric Functional Safety Revenue in Global Market (2017-2022)
  7.7.5 Emerson Electric Key News
7.8 Honeywell International
  7.8.1 Honeywell International Corporate Summary
  7.8.2 Honeywell International Business Overview
  7.8.3 Honeywell International Functional Safety Major Product Offerings
  7.8.4 Honeywell International Functional Safety Revenue in Global Market (2017-2022)
  7.8.5 Honeywell International Key News
7.9 HIMA Paul Hildebrandt
  7.9.1 HIMA Paul Hildebrandt Corporate Summary
  7.9.2 HIMA Paul Hildebrandt Business Overview
  7.9.3 HIMA Paul Hildebrandt Functional Safety Major Product Offerings
  7.9.4 HIMA Paul Hildebrandt Functional Safety Revenue in Global Market (2017-2022)
  7.9.5 HIMA Paul Hildebrandt Key News
7.10 Endress+Hauser Management
  7.10.1 Endress+Hauser Management Corporate Summary
  7.10.2 Endress+Hauser Management Business Overview
  7.10.3 Endress+Hauser Management Functional Safety Major Product Offerings
  7.10.4 Endress+Hauser Management Functional Safety Revenue in Global Market (2017-2022)
  7.10.5 Endress+Hauser Management Key News
7.11 TUV Rheinland
  7.11.1 TUV Rheinland Corporate Summary
  7.11.2 TUV Rheinland Business Overview
  7.11.3 TUV Rheinland Functional Safety Major Product Offerings
  7.11.4 TUV Rheinland Functional Safety Revenue in Global Market (2017-2022)
  7.11.5 TUV Rheinland Key News
7.12 Omron
  7.12.1 Omron Corporate Summary
  7.12.2 Omron Business Overview
  7.12.3 Omron Functional Safety Major Product Offerings
  7.12.4 Omron Functional Safety Revenue in Global Market (2017-2022)
  7.12.5 Omron Key News
7.13 Yokogawa Electric
  7.13.1 Yokogawa Electric Corporate Summary
  7.13.2 Yokogawa Electric Business Overview
  7.13.3 Yokogawa Electric Functional Safety Major Product Offerings
  7.13.4 Yokogawa Electric Functional Safety Revenue in Global Market (2017-2022)
  7.13.5 Yokogawa Electric Key News
7.14 DEKRA
  7.14.1 DEKRA Corporate Summary
  7.14.2 DEKRA Business Overview
  7.14.3 DEKRA Functional Safety Major Product Offerings
  7.14.4 DEKRA Functional Safety Revenue in Global Market (2017-2022)
  7.14.5 DEKRA Key News

8 CONCLUSION

9 APPENDIX

9.1 Note
9.2 Examples of Clients
9.3 Disclaimer

List Of Tables

LIST OF TABLES

Table 1. Functional Safety Market Opportunities & Trends in Global Market
Table 2. Functional Safety Market Drivers in Global Market
Table 3. Functional Safety Market Restraints in Global Market
Table 4. Key Players of Functional Safety in Global Market
Table 5. Top Functional Safety Players in Global Market, Ranking by Revenue (2021)
Table 6. Global Functional Safety Revenue by Companies, (US$, Mn), 2017-2022
Table 7. Global Functional Safety Revenue Share by Companies, 2017-2022
Table 8. Global Companies Functional Safety Product Type
Table 9. List of Global Tier 1 Functional Safety Companies, Revenue (US$, Mn) in 2021 and Market Share
Table 10. List of Global Tier 2 and Tier 3 Functional Safety Companies, Revenue (US$, Mn) in 2021 and Market Share
Table 11. By Type – Global Functional Safety Revenue, (US$, Mn), 2021 & 2028
Table 12. By Type - Functional Safety Revenue in Global (US$, Mn), 2017-2022
Table 13. By Type - Functional Safety Revenue in Global (US$, Mn), 2023-2028
Table 14. By Application – Global Functional Safety Revenue, (US$, Mn), 2021 & 2028
Table 15. By Application - Functional Safety Revenue in Global (US$, Mn), 2017-2022
Table 16. By Application - Functional Safety Revenue in Global (US$, Mn), 2023-2028
Table 17. By Region – Global Functional Safety Revenue, (US$, Mn), 2021 & 2028
Table 18. By Region - Global Functional Safety Revenue (US$, Mn), 2017-2022
Table 19. By Region - Global Functional Safety Revenue (US$, Mn), 2023-2028
Table 20. By Country - North America Functional Safety Revenue, (US$, Mn), 2017-2022
Table 21. By Country - North America Functional Safety Revenue, (US$, Mn), 2023-2028
Table 22. By Country - Europe Functional Safety Revenue, (US$, Mn), 2017-2022
Table 23. By Country - Europe Functional Safety Revenue, (US$, Mn), 2023-2028
Table 24. By Region - Asia Functional Safety Revenue, (US$, Mn), 2017-2022
Table 25. By Region - Asia Functional Safety Revenue, (US$, Mn), 2023-2028
Table 26. By Country - South America Functional Safety Revenue, (US$, Mn), 2017-2022
Table 27. By Country - South America Functional Safety Revenue, (US$, Mn), 2023-2028
Table 28. By Country - Middle East & Africa Functional Safety Revenue, (US$, Mn), 2017-2022
Table 29. By Country - Middle East & Africa Functional Safety Revenue, (US$, Mn), 2023-2028
Table 30. Siemens Corporate Summary
Table 31. Siemens Functional Safety Product Offerings
Table 32. Siemens Functional Safety Revenue (US$, Mn), (2017-2022)
Table 33. ABB Corporate Summary
Table 34. ABB Functional Safety Product Offerings
Table 35. ABB Functional Safety Revenue (US$, Mn), (2017-2022)
Table 36. Honeywell Corporate Summary
Table 37. Honeywell Functional Safety Product Offerings
Table 38. Honeywell Functional Safety Revenue (US$, Mn), (2017-2022)
Table 39. General Electric Corporate Summary
Table 40. General Electric Functional Safety Product Offerings
Table 41. General Electric Functional Safety Revenue (US$, Mn), (2017-2022)
Table 42. Schneider Electric Corporate Summary
Table 43. Schneider Electric Functional Safety Product Offerings
Table 44. Schneider Electric Functional Safety Revenue (US$, Mn), (2017-2022)
Table 45. Rockwell Automation Corporate Summary
Table 46. Rockwell Automation Functional Safety Product Offerings
Table 47. Rockwell Automation Functional Safety Revenue (US$, Mn), (2017-2022)
Table 48. Emerson Electric Corporate Summary
Table 49. Emerson Electric Functional Safety Product Offerings
Table 50. Emerson Electric Functional Safety Revenue (US$, Mn), (2017-2022)
Table 51. Honeywell International Corporate Summary
Table 52. Honeywell International Functional Safety Product Offerings
Table 53. Honeywell International Functional Safety Revenue (US$, Mn), (2017-2022)
Table 54. HIMA Paul Hildebrandt Corporate Summary
Table 55. HIMA Paul Hildebrandt Functional Safety Product Offerings
Table 56. HIMA Paul Hildebrandt Functional Safety Revenue (US$, Mn), (2017-2022)
Table 57. Endress+Hauser Management Corporate Summary
Table 58. Endress+Hauser Management Functional Safety Product Offerings
Table 59. Endress+Hauser Management Functional Safety Revenue (US$, Mn), (2017-2022)
Table 60. TUV Rheinland Corporate Summary
Table 61. TUV Rheinland Functional Safety Product Offerings
Table 62. TUV Rheinland Functional Safety Revenue (US$, Mn), (2017-2022)
Table 63. Omron Corporate Summary
Table 64. Omron Functional Safety Product Offerings
Table 65. Omron Functional Safety Revenue (US$, Mn), (2017-2022)
Table 66. Yokogawa Electric Corporate Summary
Table 67. Yokogawa Electric Functional Safety Product Offerings
Table 68. Yokogawa Electric Functional Safety Revenue (US$, Mn), (2017-2022)
Table 69. DEKRA Corporate Summary
Table 70. DEKRA Functional Safety Product Offerings
Table 71. DEKRA Functional Safety Revenue (US$, Mn), (2017-2022)

List Of Figures

LIST OF FIGURES

Figure 1. Functional Safety Segment by Type in 2021
Figure 2. Functional Safety Segment by Application in 2021
Figure 3. Global Functional Safety Market Overview: 2020
Figure 4. Key Caveats
Figure 5. Global Functional Safety Market Size: 2021 VS 2028 (US$, Mn)
Figure 6. Global Functional Safety Revenue, 2017-2028 (US$, Mn)
Figure 7. The Top 3 and 5 Players Market Share by Functional Safety Revenue in 2021
Figure 8. By Type - Global Functional Safety Revenue Market Share, 2017-2028
Figure 9. By Application - Global Functional Safety Revenue Market Share, 2017-2028
Figure 10. By Region - Global Functional Safety Revenue Market Share, 2017-2028
Figure 11. By Country - North America Functional Safety Revenue Market Share, 2017-2028
Figure 12. US Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 13. Canada Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 14. Mexico Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 15. By Country - Europe Functional Safety Revenue Market Share, 2017-2028
Figure 16. Germany Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 17. France Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 18. U.K. Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 19. Italy Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 20. Russia Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 21. Nordic Countries Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 22. Benelux Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 23. By Region - Asia Functional Safety Revenue Market Share, 2017-2028
Figure 24. China Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 25. Japan Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 26. South Korea Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 27. Southeast Asia Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 28. India Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 29. By Country - South America Functional Safety Revenue Market Share, 2017-2028
Figure 30. Brazil Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 31. Argentina Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 32. By Country - Middle East & Africa Functional Safety Revenue Market Share, 2017-2028
Figure 33. Turkey Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 34. Israel Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 35. Saudi Arabia Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 36. UAE Functional Safety Revenue, (US$, Mn), 2017-2028
Figure 37. Siemens Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 38. ABB Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 39. Honeywell Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 40. General Electric Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 41. Schneider Electric Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 42. Rockwell Automation Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 43. Emerson Electric Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 44. Honeywell International Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 45. HIMA Paul Hildebrandt Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 46. Endress+Hauser Management Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 47. TUV Rheinland Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 48. Omron Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 49. Yokogawa Electric Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)
Figure 50. DEKRA Functional Safety Revenue Year Over Year Growth (US$, Mn) & (2017-2022)