Global Emergency Shutdown Systems Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Emergency shutdown systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Emergency shutdown systems market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Emergency shutdown systems (ESS), also known as safety shutdown systems, are critical safety mechanisms used in various industrial processes and facilities to rapidly and automatically shut down operations in emergency situations. They are designed to respond quickly to hazardous events, which initiates an immediate and coordinated shutdown of the process. They protect personnel, equipment, and the environment from potential hazards or catastrophic events.
The global emergency shutdown systems market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 9% during 2023-2028.
Global Emergency Shutdown Systems Market Trends and Drivers:
ESS is extensively used in upstream, midstream, and downstream oil and gas operations to ensure the rapid shutdown of drilling rigs, production platforms, refineries, and pipelines in case of emergencies such as gas leaks, fires, or equipment failures. Along with this, the increasing number of offshore and onshore exploratory activities for conventional and non-conventional energy resources represents one of the primary factors fueling the market growth worldwide. Moreover, the rising adoption of ESS in power plants, including nuclear, coal, gas, and renewable energy facilities, to safeguard against dangerous events, such as turbine overspeed, boiler explosions, or coolant leaks, is contributing to the market growth. Besides this, the growing use of ESS in chemical processing plants to shut down processes and prevent the release of hazardous substances in the event of leaks, spills, or runaway reactions is influencing the market positively.
Global Emergency Shutdown Systems Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: ABB Ltd, Emerson Electric Co., General Electric Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Nov Inc., Rockwell Automation Inc, Schneider Electric SE, Siemens Aktiengesellschaft, Versa Products Company Inc., Winn-Marion Companies and Yokogawa Electric Corporation.
The report segmented the market on the basis of region, component, control method and industry vertical.
Breakup by Component:
- Programmable Safety Systems
- Safety Valves
Breakup by Control Method:
- Fiber Optic
Breakup by Industry Vertical:
- Oil and Gas
- Power Generation
- Metal and Mining
- Paper and Pulp
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Private Limited.
134 N 4th St. Brooklyn, NY 11249, USA
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800