The Market Insights Reports has added a new statistical data to its repository titled as, Global Emergency Shutdown Systems Market. It provides the industry overview with market growth analysis with a historical & futuristic perspective for the following parameters; cost, revenue, demands, and supply data (as applicable). Furthermore, the report also sheds light on recent developments and technological platforms, in addition to distinctive tools, and methodologies that will help to propel the performance of industries.
The global emergency shutdown systems market was valued at USD 1.42 billion in 2019 and is expected to reach a value of USD 2.57 billion by 2025 registering a CAGR of 9.29% during the forecast period (2020 – 2025).
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Top Key Players in the Global 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 Update:
– 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.
– 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.
– With the US Department of the Interior planning to allow the offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) planned for 2019-2024, the oil and gas sector in the region is also anticipated to offer new opportunities to the market.
Full Browse the report description and TOC:
Highlights of TOC:
Market Overview: It starts with product overview and scope of the Global Emergency Shutdown Systems market and later gives consumption and production growth rate comparisons by application and product respectively. It also includes a glimpse of the regional study and Emergency Shutdown Systems market size analysis for the review period 2015-2025.
Company Profiles: Each company profiled in the report is assessed for its market growth keeping in view vital factors such as price, Emergency Shutdown Systems market gross margin, revenue, production, markets served, main business, product specifications, applications, and introduction, areas served, and production sites.
Manufacturing Cost Analysis: It includes industrial chain analysis, manufacturing process analysis, the proportion of manufacturing cost structure, and the analysis of key raw materials.
Market Dynamics: Readers are provided with a comprehensive analysis of Emergency Shutdown Systems market challenges, influence factors, drivers, opportunities, and trends.
Market Forecast: Here, the Emergency Shutdown Systems report provides consumption forecast by application, price, revenue, and production forecast by product, consumption forecast by region, production forecast by region, and production and revenue forecast.
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