The global Emergency Shutdown System Market is projected to reach $3.3 billion by 2028, at a CAGR of 9.2% during 2023-2028. The growth of emergency shutdown system market is driven by rising penetration of industrial internet of things (IoT), increasing demand for safety systems in oil and gas industry, and growing acceptance of emergency shutdown systems in the pharmaceutical industry owing to involvement of toxic ingredients as along with heating and cooling agents.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the
most promising, high-growth opportunities for the Emergency Shutdown System
market by component (safety switches, emergency stop devices, safety
controller/modules/relays, safety sensors, logic solvers/programmable safety
systems, valves, and actuators), control method (pneumatic, electrical, fibre
optic, and hydraulic), end use industry (power generation, oil and gases,
refining, chemicals, metals and mining, paper and pulp, pharmaceuticals, food
and beverages, water and wastewater, and others), and region (North America,
Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will
grow at a faster pace and why?
Q.3 What are the
business risks and threats to the Emergency Shutdown System market?
Q.4 What are some
changing demands of customers in the Emergency Shutdown System market?
Q.5 What are the new
developments in the Emergency Shutdown System market? Which companies are
leading these developments?
Q.6 What strategic
initiatives are being implemented by key players for business growth?
Q.7 What are some of the
competitive products and processes in this Emergency Shutdown System area and
how big of a threat do they pose for loss of market share via product
substitution?
Q.8 What M&A
activity has occurred in the last 5 years in this Emergency Shutdown System
market?
Market Segmentation:
Based on end use
industry, the emergency shutdown system market is segmented power generation,
oil and gases, refining, chemicals, metals and mining, paper and pulp,
pharmaceuticals, food and beverages, water and wastewater, and others. The oil
and gas market is expected to remain the largest segment due to recovering oil
and gas prices along with increasing upstream activity from offshore
establishments.
Europe is expected to be
the largest region with the highest growth over the forecast period due to
significant activity in the downstream oil and gas sectors, growing adoption of
industrial control systems along with advanced technologies across multiple
end-user industries.
Key Players in the Emergency
Shutdown System market are ABB, Rockwell Automation, Emerson Electric, Versa
Products, Honeywell International, General Electric, Yokogawa Electric,
Schneider Electric, Siemens, Winn-Marion Companies.
The report helps stakeholders understand the
pulse of the market and provides them with information on key drivers,
restraints, challenges, and opportunities for market growth. It would also help
to understand the competitors better and gain more insights to improve their
position in the business.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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