What's driving the Emergency Shutdown System Market? with top key players | are ABB Ltd, Emerson Electric Co., General Electric Co., Hima Paul Hildebrandt, Honeywell International Inc., National Oilwell Varco, Omron Corporation, Schneider Electric SE, Sie

Emergency Shutdown System Market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.

The global emergency shutdown systems market accounted for US$ 1.41 Bn in 2018 and is expected to reach US$ 2.43 Bn by 2027 with a CAGR growth rate of 6.4% during the forecast period. Emergency shutdown systems are mostly deployed in manufacturing, power generation, oil & gas, and several other industries. Of all the end-user industries, the oil & gas industry is the largest source of demand for emergency shutdown systems and held the largest market share in 2018. The emergency shutdown systems market is driven by the surge in demand to minimize hydrocarbon leakages, especially in off-shore oilfield-based projects, consolidation of industrial control systems for improving efficiencies/control room modernization, and continuous growth in the refining capacity.

Request a sample of this premium report: https://www.marketstudyreport.com/request-a-sample/2532773?utm_source=openpr&utm_medium=RV

In addition to this, the modernization of gaining industrial infrastructure and process systems across prominent market players across developed and developing economies is also projected to continue to provide steady market growth opportunities for the emergency shutdown systems market players during the coming years. Also, the growing trend of industrial control systems through technology enabled across multiple industry verticals is also expected to encourage the adoption among considerably large small and medium enterprise across different industry verticals. Thus, the emergency shutdown systems market is anticipated to provide numerous lucrative business opportunities for the emergency shutdown systems market players during the coming years.

Due to increasing industrial applications and manufacturing processes, there has been a surge in the number of global catastrophic accidents. As per the Global Wellness Institute, there were 313 million work-related accidents and 2.3 million work-related deaths in 2016 across the world. The consolidation of industrial control systems with emergency shutdown systems leads to control room modernization, enhances efficiency, and reduces accidents. Companies are continuously investing in projects relating to improvement of operations and safety at workplaces such as refineries and power generation. Safety Manager receives and transmits signals from local control houses to the central control house. At the local control houses, Safety Manager interfaces with existing emergency shutdown systems on the basis of relay logic. Further, with the help of fiber-optic links, the signals are relayed to the Safety Manager in the central control house. Thus, the consolidation of industrial control systems with emergency shutdown systems is driving the growth of the emergency shutdown systems market.

Enquiry before Buying of this premium report: https://www.marketstudyreport.com/enquiry-before-buying/2532773?utm_source=openpr&utm_medium=RV


A significant investment in the energy & power sector of the region has also been noticed. The US is the largest producer of nuclear power worldwide, accounting for over 30% of global nuclear generation of electricity. As of 2018, the country has ~98 operating nuclear power reactors in across 30 states. Further, there are two reactors under construction. Further, as of March 2019, Canada had 19 commercial nuclear power reactors situated in New Brunswick and Ontario that generate ~15% of Canada's electricity supply. Moreover, Mexico is experiencing a remarkable rise in its electricity consumption.

In 2016, the Mexican government deregulated the country's power market, which has resulted in tremendous investment in new power plants. It is anticipated that the private sector will require to invest ~US$ 89 Bn in the country's power generation resources by 2031. Such a high growth will result in increasing number of power plant projects and capacity expansion. For instance, in 2019, Iberdrola SA, a Spanish multinational electric utility company, announced its plans to invest US$ 5 Bn in Mexico's new power generation projects during 2019-2024. The factors mentioned above are anticipated to bolster the demand for emergency shutdown systems during the forecast period.

Emergency shutdown systems are mostly deployed in manufacturing, power generation, oil & gas, and several other industries. Of all the end-user industries, the oil & gas industry is the largest source of demand for emergency shutdown systems and held the largest market share in 2018.

The emergency shutdown systems market is driven by the surge in demand to minimize hydrocarbon leakages, especially in off-shore oilfield-based projects, consolidation of industrial control systems for improving efficiencies/control room modernization, and continuous growth in the refining capacity. However, limited penetration across SMEs in emerging economies and narrow scope for cross vertical standardization might hamper the emergency shutdown systems market growth during the forecast period. One of the latest trends impacting market growth is the automated industrial control system.

Major companies operating in the emergency shutdown systems market include ABB Ltd, Emerson Electric Co., General Electric Co., Hima Paul Hildebrandt, Honeywell International Inc., National Oilwell Varco, Omron Corporation, Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation.

The mentioned companies are adopting several business expansion strategies, such as strategic partnerships & collaborations, new product developments, and mergers & acquisitions. For instance, in July 2016, Honeywell International Inc. launched a new product, Touchpoint Plus, an integrated gas and logic safety control system. It has an intuitive touch screen interface feature that provides easy setup and visibility.

Highlights of the Report
o Identification and in-depth assessment of growth opportunities in key segments and regions
o Detailed company profiling of top players of the global Emergency Shutdown System market
o Exhaustive research on innovation and other trends of the global Emergency Shutdown System market
o Reliable industry value chain and supply chain analysis
o Comprehensive analysis of important growth drivers, restraints, challenges, and growth prospects
Table of Content:

Chapter One: Emergency Shutdown System Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Market Competition, by Players
Chapter Four: Market Size by Regions
Chapter Five: North America Revenue by Countries
Chapter Six: Europe Revenue by Countries
Chapter Seven: Asia-Pacific Revenue by Countries
Chapter Eight: South America Revenue by Countries
Chapter Nine: Middle East and Africa Revenue by Countries
Chapter Ten: Emergency Shutdown System Market Segmentation by Type
Chapter Eleven: Global Emergency Shutdown System Market Segmentation by Application

Contact Us:

Market Study Report LLC
4 North Main Street,
Selbyville, Delaware 19975
USA
Phone: 1-302-273-0910
US Toll Free: 1-866-764-2150
Email: sales@marketstudyreport.com
Website: https://www.marketstudyreport.com

About Us:

Marketstudyreport.com allows you to manage and control all corporate research purchases to consolidate billing and vendor management. You can eliminate duplicate purchases and customize your content and license management.

This release was published on openPR.