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Worldwide Emergency Shutdown Systems Industry to 2025 - Stringent Regulatory Policies for Industrial Safety is Driving the Market - ResearchAndMarkets.com

November 20, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Nov 20, 2020--

The “Emergency Shutdown Systems Market - Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.

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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These systems are highly deployed in the oil and gas industry, general manufacturing processes, power generating sector, and several other industries. Out of all the end-users, the oil and gas industry is the largest source of demand for emergency shutdown systems.

Companies Mentioned

  • 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

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.

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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.
  • Also, there has been a considerable exploration activity in countries like the United Kingdom that have led to key discoveries such as Glendronach (by Total). It is estimated that Glendronach is the fifth-largest conventional natural gas reserve discovery on the UK Continental Shelf, in the millennium.
  • The increased adoption of industrial control systems with advanced technologies across multiple end-user industries is also anticipated to encourage the adoption of the emergency shutdown systems among considerably large, small and medium enterprise across the region. Thus, the region is expected to provide business opportunities for the market players during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Stringent Regulatory Policies for Industrial Safety

4.2.2 Growing Large-scale Production Projects due to Expansion of Oil and Gas Industry

4.3 Market Restraints

4.3.1 High Initial and Maintenance Costs

4.4 Industry Value Chain Analysis

4.5 Industry Attractiveness Porters Five Force Analysis

4.6 Technology Snapshot

5 MARKET SEGMENTATION

5.1 By Control Method

5.1.1 Electrical

5.1.2 Fiber Optic

5.1.3 Pneumatic

5.1.4 Hydraulic

5.1.5 Other Control Methods

5.2 By End-user Vertical

5.2.1 Oil and Gas

5.2.2 Refining

5.2.3 Power Generation

5.2.4 Metal and Mining

5.2.5 Paper and Pulp

5.2.6 Other End-user Verticals

5.3 Geography

5.3.1 North America

5.3.2 Europe

5.3.3 Asia-Pacific

5.3.4 Latin America

5.3.5 Middle East & Africa

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 INVESTMENT OPPORTUNITIES

8 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/jlurs6

View source version on businesswire.com:https://www.businesswire.com/news/home/20201120005600/en/

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KEYWORD:

INDUSTRY KEYWORD: OIL/GAS ENERGY

SOURCE: Research and Markets

Copyright Business Wire 2020.

PUB: 11/20/2020 11:30 AM/DISC: 11/20/2020 11:30 AM

http://www.businesswire.com/news/home/20201120005600/en