Emergency Shutdown Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Emergency Shutdown Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • July 2022 •
  • 143 pages •
  • Report ID: 6293326 •
  • Format: PDF
The global emergency shutdown systems market reached a value of US$ 1.85 Billion in 2021. Looking forward, the analyst expects the market to reach a value of US$ 3.17 Billion by 2027, exhibiting a CAGR of 9.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.

Emergency shutdown systems are specialized control systems designed to minimize the consequences of emergencies, such as uncontrolled flooding, and provide safe operations. They consist of valves, field-mounted sensors, actuators, safety sensors, emergency stop devices, programmable safety systems, safety modules, and relays. These systems are widely used to reduce the chances of possible explosions and an outbreak of fire in hydrocarbon carrying areas and other hazardous areas. Emergency shutdown systems assist in closing watertight and fire doors, isolating electrical equipment and shutting and depressurizing system parts and equipment. They are highly reliable, safe, flexible, accurate, and provide faster response time. As a result, they find extensive application across various industries, such as refining, pharmaceuticals, paper and pulp, power generation, metal and mining, oil and gas.

Emergency Shutdown Systems Market Trends:
Significant growth in the oil and gas industry is one of the key factors creating a positive outlook for the market. Emergency shutdown systems are commonly used to minimize the risk of major incidents and prevent the pressure from bursting through the wellhead. In line with this, the increasing product demand, especially from offshore refineries, is favoring the market growth. Moreover, various technological advancements, such as the integration of the Internet of Things (IoT) in emergency shutdown systems to provide real-time monitoring, are boosting the market growth. Additionally, the rapid adoption of emergency shutdown systems in the pharmaceutical industry due to the involvement of toxic ingredients and heating and cooling agents is positively impacting the market growth. Other factors, such as the rising demand for emergency shutdown systems across the power generation industry and the implementation of various government initiatives for workplace safety, are driving the market growth across the globe.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global emergency shutdown systems market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, control method and industry vertical.

Breakup by Component:
Switches
Sensors
Programmable Safety Systems
Safety Valves
Actuators
Others

Breakup by Control Method:
Pneumatic
Electrical
Fiber Optic
Hydraulic
Others

Breakup by Industry Vertical:
Oil and Gas
Refining
Power Generation
Metal and Mining
Paper and Pulp
Others

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Emerson Electric Co., General Electric Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Nov Inc., Rockwell Automation Inc, Schneider Electric SE, Siemens Aktiengesellschaft, Versa Products Company Inc., Winn-Marion Companies and Yokogawa Electric Corporation.



Key Questions Answered in This Report:

How has the global emergency shutdown systems market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global emergency shutdown systems market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the control method?
What is the breakup of the market based on the industry vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global emergency shutdown systems market and who are the key players?
What is the degree of competition in the industry?