Why the Emergency Shutdown System Market Is Set To Explode? | Global Players are Schneider Electric, Yokogawa, Kongsberg Maritime, Honeywell, ABB, Siemens, Rockwell Automation, Emerson Network Power
The less reliability of these systems is restricting their use across industries. During harsh environmental conditions, these systems are not capable of protecting natural gas plants. This can be overcome by developing efficient EMC-based emergency shutdown systems that aid in reducing the source interference and enhancing the immunity of instruments. Wireless systems face connectivity challenges that hinder the performance of these systems. The issue can be overcome by efficient broadband infrastructure in industries. These systems comprise several input and output devices that acquire a large space in production plants, hampering the emergency shutdown system market growth.
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A major trend in the emergency shutdown system market is the development of standardized hardware & software integrated systems. The software-based technologies perform extensive safety functions essential for personnel and machinery safety. They also provide high flexibility for maintenance and modifications of systems. The increasing demand for safety and shutdown systems in the oil & gas industry is a major factor, fueling the market growth. These systems aid in minimizing the consequences of emergency situations, such as uncontrolled flooding, escape of hydrocarbons, and the outbreak of fire in hydrocarbon areas, that may be hazardous.
The North America emergency shutdown system market is expected to grow at a high rate over the forecast timeline due to the implementation of high safety standards and government regulations regarding operator safety. The U.S. Chemical Safety Board has implemented stringent regulations for the installation of emergency shutdown systems in all chemical, oil & gas, and power generation industries for human and environment safety. The demand for these systems is growing rapidly in several Asian countries including China, Japan, and India due to the increasing manufacturing industry in the region. The increasing construction of power generation and thermal power stations in India is supporting the demand for these systems.
The leading companies operating in the emergency shutdown system market include Schneider Electric, Yokogawa Electric, Kongsberg Maritime, Honeywell International Inc., ABB Ltd, Siemens AG, Rockwell Automation, Sella Controls, Esoteric Automation & Control Technologies, Industrial Automation Systems, and Emerson Electric Co.
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The emergency shutdown system market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2025 for the following segments:
o Safety switches
o Emergency stop devices
o Safety controllers
o Safety sensors
o Programmable Safety Systems
o Safety valves
o Power generation
o Oil & Gas
o Metal & Mining
o Food & Beverage
The above information is provided for the following regions and countries:
o North America
o Asia Pacific
o South Korea
o Latin America
o Middle East & Africa
o Saudi Arabia
o South Africa
Corporate Sales, USA
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