Press release
Emergency Shutdown Systems Market 2022 Advancements and Precise Outlook - ABB Limited, Emerson Electric Company, General Electric Co., Hima Paul Hildebrandt GmbH
The Emergency Shutdown Systems Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Emergency Shutdown Systems market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Emergency Shutdown Systems market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Emergency Shutdown Systems market.The global emergency shutdown systems market was valued at USD 1654.68 million in 2020 and is expected to reach USD 2823.41 million by 2027 and grow at a CAGR of 9.29% over the forecast period (2022-2027).
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Top Leading Companies of Emergency Shutdown Systems Market are - 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 and others.
Industry News and Updates:
- 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.
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.
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.
Investigator Observers Strong Growth in Specific Regions:
- Europe Market (Germany, UK, France, Russia, Italy)
- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
- South America Market (Brazil, Argentina, Colombia)
- North America Market (United States, Canada, Mexico)
- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Emergency Shutdown Systems Market Size & Analysis (2017 - 2027)
- Market Share Analysis of Emergency Shutdown Systems Market (%),2017 - 2027
- Emergency Shutdown Systems Market Share, By Brand
- Emergency Shutdown Systems Market Share, By Company
- Emergency Shutdown Systems Market Assessment & Opportunity (Value),2017 - 2027
- Major Companies Emergency Shutdown Systems Market Value Analysis & Forecast
- Promising Emergency Shutdown Systems Development by Major Companies
- Detailed Emergency Shutdown Systems Portfolio of the Major Companies
- Major Deals in the Emergency Shutdown Systems Market
- Major Companies Analysis
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https://www.marketinsightsreports.com/reports/02285847981/emergency-shutdown-systems-market-growth-trends-covid-19-impact-and-forecasts-2022-2027?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
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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