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Emergency Shutdown Systems Market worth $4.30 billion by 2030, growing at a CAGR of 8.40% - Exclusive Report by 360iResearch

02-28-2024 10:45 AM CET | Industry, Real Estate & Construction

Press release from: 360iResearch

Emergency Shutdown Systems Market | 360iResearch

Emergency Shutdown Systems Market | 360iResearch

The "Emergency Shutdown Systems Market by System Type (Distributed Control System, Fail-Safe Shutdown System, Safety Instrumented System), Component (Emergency Stop Devices, Logic Solvers/Programmable Safety Systems, Safety Controllers/Modules/Relays), Application - Global Forecast 2024-2030" report has been added to 360iResearch.com's offering.

The Global Emergency Shutdown Systems Market to grow from USD 2.44 billion in 2023 to USD 4.30 billion by 2030, at a CAGR of 8.40%.

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Emergency Shutdown System (ESD) refers to systems that are utilized to minimize the risk of damage due to an emergency or uncontrolled situation. It is an automatic protection system that typically shuts down if the industrial plant or machinery enters a potentially dangerous situation. ESD is commonly used in industries including fire and gas (F&G), burner management systems (BMS), and pressure protection solutions. ESDs are used to improve the overall safety of the facility, prevent personal injury, and prevent environmental pollution and production loss. The increasing emphasis of industries and production plants on occupational safety and the health of workers in industries and government efforts to improve the working environment has created the demand for robust ESDs. The adoption of emergency shutdown systems for risk management in industries such as nuclear power and oil and gas is rapidly increasing. However, integration and regular maintenance requirements into existing industrial processes and systems can be challenging. Additionally, the stringent requirement of ESDs to adhere to regulations and international or national standards hampers widespread adoption of ESDs. Despite the prevailing regulatory and integration challenges, the integration of AI technologies and advanced automation can lead to rampant utilization of ESDs by improving their efficiency.

In the Americas, particularly in the United States and Canada, there is a strong focus on establishing stringent safety regulations for industrial operations. This has led to increased adoption of ESDs in key sectors such as oil & gas, chemical plants, power generation facilities, and manufacturing units. The U.S. Department of Energy continues to invest in research initiatives aimed at enhancing operational safety through advanced control systems such as ESDs. In the European Union countries, regulatory compliance with EU directives such as the Seveso III Directive (2012/18/EU) is driving industries to adopt standardized emergency solutions. Moreover, increasing investments in green energy projects across Europe are fostering innovations in emergency shutdown systems that cater to specialized requirements of renewable energy installations and safety. The rising number of hydrogen plants and industries based on hydrogen has stimulated the installation of advanced ESD solutions. Countries such as China, Japan, and India are experiencing a growing number of manufacturing hubs and manufacturing activities due to rising urbanization, thereby driving the need for advanced safety solutions of ESDs. Governments across these countries are also actively promoting industrial automation by providing incentives for adopting technologies that ensure worker safety and minimize environmental impact.

Market Segmentation & Coverage:

This research report categorizes the Emergency Shutdown Systems Market in order to forecast the revenues and analyze trends in each of following sub-markets:

Based on System Type, market is studied across Distributed Control System, Fail-Safe Shutdown System, and Safety Instrumented System. The Distributed Control System is projected to witness significant market share during forecast period.

Based on Component, market is studied across Emergency Stop Devices, Logic Solvers/Programmable Safety Systems, Safety Controllers/Modules/Relays, Safety Sensors, Safety Switches, and Safety Valves & Actuators. The Safety Valves & Actuators is projected to witness significant market share during forecast period.

Based on Application, market is studied across Chemical, Food & Beverage, Metal & Mining, Oil & Gas, Paper & Pulp, Pharmaceutical, Power Generation, and Water & Wastewater. The Power Generation is projected to witness significant market share during forecast period.

Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 47.12% in 2023, followed by Europe, Middle East & Africa.

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FPNV Positioning Matrix:

The FPNV Positioning Matrix is essential for assessing the Emergency Shutdown Systems Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).

Market Share Analysis:

The Market Share Analysis offers an insightful look at the current state of vendors in the Emergency Shutdown Systems Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.

Key Company Profiles:

The report delves into recent significant developments in the Emergency Shutdown Systems Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Bifold Group Ltd., BWB Controls, Doedijns Group, Emerson Electric Co., Esoteric Automation & Control Technologies, General Electric Company, Halliburton Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Metso Corporation, NOV Inc., Omron Corporation, Proserv UK Ltd., Rockwell Automation, Inc., Ruelco Inc., Safoco Inc., Schneider Electric SE, Sella Controls Limited, Siemens AG, Versa Products Company Inc., Winn-Marion Companies, Worldwide Oilfield Machine, Inc., Wärtsilä Corporation, and Yokogawa Electric Corporation.

Key Topics Covered:

1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Emergency Shutdown Systems Market, by System Type
7. Emergency Shutdown Systems Market, by Component
8. Emergency Shutdown Systems Market, by Application
9. Americas Emergency Shutdown Systems Market
10. Asia-Pacific Emergency Shutdown Systems Market
11. Europe, Middle East & Africa Emergency Shutdown Systems Market
12. Competitive Landscape
13. Competitive Portfolio

The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The report answers questions such as:
1. What is the market size and forecast of the Emergency Shutdown Systems Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Emergency Shutdown Systems Market?
3. What is the competitive strategic window for opportunities in the Emergency Shutdown Systems Market?
4. What are the technology trends and regulatory frameworks in the Emergency Shutdown Systems Market?
5. What is the market share of the leading vendors in the Emergency Shutdown Systems Market?
6. What modes and strategic moves are considered suitable for entering the Emergency Shutdown Systems Market?

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Contact 360iResearch

Mr. Ketan Rohom
Sales & Marketing,
Office No. 519, Nyati Empress,
Opposite Phoenix Market City,
Vimannagar, Pune, Maharashtra,
India - 411014.
sales@360iresearch.com
+1-530-264-8485
+91-922-607-7550

About 360iResearch

360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.

We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset - our people.

Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.

Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.

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