Press release
Emergency Shutdown Systems Market Astonishing Growth with Top Influencing Key Players like ABB Limited, Emerson Electric Company, General Electric Co
Latest research on Emergency Shutdown Systems Market report covers forecast and analysis on a worldwide, regional and country level. The study provides historical information of 2016-2021 together with a forecast from 2022 to 2026 supported by both volume and revenue (USD million). The entire study covers the key drivers and restraints for the Emergency Shutdown Systems market. This report included a special section on the Impact of COVID19. Also, Emergency Shutdown Systems Market (By major Key Players, By Types, By Applications, and Leading Regions) Segment’s outlook, Business assessment, Competition scenario and Trends.Emergency Shutdown Systems Market is growing at a CAGR of 9.29% during the forecast period (2021-2026).
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The Emergency Shutdown Systems market is highly competitive and consists of a number of major players. Top Companies like ABB Limited, Emerson Electric Company, General Electric Co., Hima Paul Hildebrandt GmbH, Honeywell International Inc,, Omron Corporation, Proserv Ingenious Simplicity, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, Wartsila Oyj Abp, Doedijns Group, Safoco Inc., Winn-Marion Companies, National Oilwell Varco Inc., Ruelco Inc., BWB Controls Inc., Bifold Group Ltd, Versa Products Company Inc., Halliburton Company
Industry News And Developments:
- Apr 2020 - Emerson acquired leading hydroelectric turbine controls company, American Governor Company. The addition of American Governor Company builds on Emerson’s technology capabilities and expertise in the renewable and power industry.
- Nov 2019 - Yokogawa Electric Corporation announced the release of ProSafe-RS R4.05.00, which is an enhanced version of the ProSafe-RS safety instrumented system. The ProSafe-RS is a core product of the OpreX Control and Safety System family offered by the company.
Regional Analysis:
Furthermore, to broaden the understanding, researchers have studied the global Emergency Shutdown Systems market from a geographical point of view, considering the potential regions and countries. The regional analysis will assist the market players in making sound decisions regarding their future investments.
Emergency Shutdown Systems Market report includes the following geographic areas such as North America, Europe, China, Japan, Southeast Asia, India and ROW.
Scope of the Report
- Owing to increasingly complex manufacturing and industrial applications, there has been a rise in the number of global catastrophic accidents. Further, in multiple cases, security factors are also altering the demand for emergency shutdown systems, especially in the case of the oil and gas industry. For example, in countries such as Mexico where the pipelines are often prone to insurgent attacks and theft, there is a high demand for automated and robust emergency shutdown systems, which support remote operation.
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Key Market Trends
Oil and Gas is Expected to Witness Significant Growth
- Oil and gas is the largest sector for emergency shutdown systems globally. Recovering oil and gas prices and increasing upstream activity are expected to increase the demand for emergency shutdown systems, especially from offshore establishments. Demand for the ESD systems from upstream, midstream, and downstream (oil refineries) activities are taken into account under this segment.
- Regulations like the Bureau of Safety and Environmental Enforcement (BSEE) which enforces safety and environmental protection regulations for offshore oil and natural gas industry in the United States are prevalent across other regions like Europe as well (Europe 4 and 5 standards).To minimize the risk of a major incident, pressure and temperature of the line are closely monitored and that is where the ESD system comes into play.
- With new refinery projects anticipated across regions like India, which is expected to commission the largest green refinery in the world, the demand for the ESD systems is expected to increase over the forecast period. New upcoming oil and gas refinery projects to be commissioned between the timeframe of 2017-2023 across Norway, Denmark, Uzbekistan, Kuwait among others can be potential customers for the ESD systems.
Europe is Expected to Hold a Significant Market Share
- Europe is one of the largest markets for emergency shutdown systems (ESD) in the world. Considerable activity in the downstream oil and gas sector and high industrial activity in the region is one of the most prominent drivers for the ESD systems market in Europe.
- Europe is one of the most advanced and one of the largest crude oil refiners in the world. As of 2017, the region is responsible for 15% of the global oil refining capacity. The low crude oil situation in the recent past has significantly increased the demand for the expansion of existing refineries and the inception of new projects.
- Also, there has been a considerable exploration activity in countries like the United Kingdom that have led to key discoveries such as Glendronach (by Total). It is estimated that Glendronach is the fifth-largest conventional natural gas reserve discovery on the UK Continental Shelf, in the millennium.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Emergency Shutdown Systems Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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