Press release
Emergency Shutdown Systems Market Forecasts 2024-2030 - Revenue to Hit $3.7 Billion in the Next 6 Years - Arizton
Emergency Shutdown Systems Market Research Report by Arizton
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Report Summary
Market Size (2030): $3.70 Billion
Market Size (2024): $2.28 Billion
CAGR (2024-2030): 8.44%
Historic Year: 2021-2023
Base Year: 2024
Forecast Year: 2025-2030
Market Segmentation: Component, Control Method, Industry and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, And Middle East & Africa
Market Overview
The global emergency shutdown systems (ESD) market is experiencing significant growth. Emerging trends include the integration of IoT, AI, Machine Learning, edge computing, wireless devices, and digital twin technology, as well as data-driven solutions. High-risk industries such as power generation, chemicals, petrochemicals, and oil & gas are key drivers of this growth, with ESD systems ensuring the safety of equipment, personnel, and the environment by preventing accidents.
Government and regulatory bodies worldwide are enforcing stricter standards, prompting industries to adopt reliable ESD systems. The growing adoption of industrial automation also fuels the need for advanced ESD systems capable of mitigating operational risks and enhancing predictive maintenance and real-time monitoring capabilities.
North America leads the market, driven by strong industries in manufacturing, power generation, oil & gas, and chemicals. Meanwhile, the APAC region is the fastest growing, spurred by rapid industrialization and the need for workplace safety, with China and India emerging as key players expected to grow significantly in the coming years.
Dominance of Sensors in Emergency Shutdown Systems (ESD)
The sensor segment leads the component market for emergency shutdown systems (ESD), as sensors are critical in detecting dangerous conditions that require immediate shutdown. They monitor various parameters and continuously send signals to the logic solver, preventing accidents and protecting both assets and personnel. Sensors play a key role by providing feedback to the control algorithm to manage variables that need to be controlled, such as temperature, pressure, and gas levels.
The demand for smart sensors is rapidly growing. Additionally, the rising adoption of wireless sensors is fueling market growth due to their flexibility and ease of installation. Pressure sensors monitor pipeline and vessel pressure, level sensors track liquid levels in tanks, fire detectors identify fire presence, and gas detectors detect toxic or flammable gases.
With industry standards and safety regulations in place, sensors used in ESD systems must meet strict compliance requirements to ensure the safety of environments and processes. In hazardous situations, these sensors provide real-time data or signals to trigger automatic shutdowns, helping to mitigate risks and ensure workplace safety.
Growth of the Emergency Shutdown System Market in North America
The emergency shutdown system (ESD) market in North America is experiencing significant growth, driven by technological advancements, a focus on risk mitigation, the presence of key industries, aging infrastructure, and an emphasis on functional safety. The United States and Canada are the primary players in this market, with the U.S. leading due to stringent regulatory requirements, a strong industrial presence, and technological innovations.
As industries become more focused on the potential consequences of accidents, there is a rising demand for reliable and safe systems to prevent hazardous situations. The ongoing modernization of aging infrastructure in the U.S. is further driving the need for ESD systems.
Additionally, stricter regulations across industries are pushing the adoption of these systems, particularly in sectors with a strong industrial presence. Technological advancements, including wireless communication, data analytics, and automation, are making ESD solutions more reliable and sophisticated, further fueling market demand. The increasing demand in power generation, manufacturing, and other sectors is also contributing to the growing adoption of ESD systems across North America.
Oil & Gas Sector Creating Lucrative Opportunities in the Emergency Shutdown Systems (ESD) Market
The oil & gas industry holds the largest share of the emergency shutdown system (ESD) market and is projected to experience significant growth, with an incremental increase of USD 0.40 billion during the forecast period. The sector faces high risks due to volatile substances, extreme operating conditions, and complex processes, making ESD systems crucial in preventing accidents, mitigating risks, and protecting personnel, assets, and the environment.
The demand for ESD systems in oil & gas is rising due to stringent regulations, environmental concerns, and high-risk operating environments across upstream, midstream, and downstream operations. ESD systems are essential for preventing catastrophic events such as fires, protecting offshore platforms, and managing incidents in onshore drilling rigs. Additionally, growing regulations aimed at reducing emissions and spills, coupled with rising environmental awareness, are driving the need for reliable ESD solutions. The global increase in oil & gas production is expected to further boost the demand for ESD systems throughout the forecast period.
Recent Vendor Activities
* In 2023, Wartsila, a leader in innovative technologies and lifecycle solutions for the marine and energy markets, reached a significant milestone in demonstrating the safety of its energy storage system (ESS), GridSolv Quantum.
* In 2022, Emerson Electric Co. launched the TopWorx Trademark DX PST with HART 7, a solution that provides valuable diagnostic information and valve data, facilitating the digital transformation of process applications. The DX PST integrates effortlessly with existing control systems and valves, offering operators critical data and diagnostics that help optimize maintenance scheduling and performance.
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Key Vendors
* ABB Ltd.
* Emerson Electric Co.
* Honeywell International Inc.
* Schneider Electric SE
* Siemens AG
* Rockwell Automation, Inc.
* HIMA Group
* Yokogawa Electric Corporation
* OMRON Corporation
* Norgren Ltd
* GE Vernova
* Proserv UK Ltd
* Wartsila
* Metso Outotec
* Johnson Controls International PLC
* Vydraulics Group
* Safoco Inc.
* Winn-Marion Companies
* NOV Inc.
* Ruelco Inc.
* Rotork
* BWB Controls
* VERSA
* Esoteric Automation & Control Technologies
* Halliburton
* Worldwide Oilfield Machine
* Kongsberg Maritime
Segmentation & Forecasts
Component
* Sensors
* Logic Solver
* Valves & Actuators
* Others
Control Method
* Electrical
* Pneumatic
* Hydraulic
* Others
Industry
* Oil & Gas
* Chemical & Petrochemical
* Power Generation
* Others
Geography
North America
* The US
* Canada
APAC
* China
* India
* Japan
* South Korea
Europe
* Germany
* The UK
* France
* Italy
* Spain
Middle East & Africa
* Saudi Arabia
* The UAE
* Turkey
Latin America
* Brazil
* Mexico
Key Questions Answered in the Report:
* Which component segment has the largest share in the global emergency shutdown systems market?
* How big is the global emergency shutdown systems market?
* Which control methods segment provides more business opportunities in the global emergency shutdown systems market?
* Who are the major players in the global emergency shutdown systems market?
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About Us:
Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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