Latin America Safety Instrumented Systems Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Latin America Safety Instrumented Systems Industry Overview

The Latin American safety instrumented systems market is concentrated with several major players like Rockwell Automation Inc., Honeywell International Inc., Emerson Electric Company, etc. In terms of market share, few significant players currently dominate the market. With a prominent share in the market, these major players are focusing on expanding their customer base internationally. These companies leverage strategic collaborative initiatives to increase their market share and profitability. The competition, rapid technological advancements, and frequent changes in consumer preferences are expected to threaten the companies' growth during the forecast period.

• December 2022 - PE Energy Group inaugurated its first High Integrity Pressure Protection System (HIPPS)recertification facility in line with Nigeria's energy transition plan to attain zero routine gas flaring by 2035 and the nation's increasing efforts to improve local participation in the oil and gas value chain.
• November 2022 - The Indian Institute of Technology Guwahati signed an MoU with Oil India. The institute will design and develop a prototype for Remote Ignition with Pilot Burner Flame Detection System for the company's Duliajan plant in Assam. The technology will provide a safer option by replacing manual fire ignition systems at old oil production installations.