Emergency Shutdown System Market: Trends, Opportunities and Competitive Analysis [2023-2028]

Emergency Shutdown System Market Trends and Forecast

The future of the global emergency shutdown system market looks promising with opportunities in the power generation, oil and gas, refining, chemical, metal and mining, paper and pulp, pharmaceutical, food and beverage, and water and wastewater markets. The global emergency shutdown system market is expected to reach an estimated $3.3 billion by 2028 with a CAGR of 9.2% from 2023 to 2028. The major drivers for this market are 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.

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Emergency Shutdown System Market by Segment

The study includes a forecast for the global emergency shutdown system market by component, control method, end use industry, and region, as follows:

Emergency Shutdown System Market by Component [Shipment Analysis by Value from 2017 to 2028]:

• Safety Switches
• Emergency Stop Devices
• Safety Controllers/Modules/Relays
• Safety Sensors
• Logic Solvers/Programmable Safety Systems
• Valves
• Actuators

Emergency Shutdown System Market by Control Method [Shipment Analysis by Value from 2017 to 2028]:

• Pneumatic
• Electrical
• Fibre optic
• Hydraulic

Emergency Shutdown System Market by End Use Industry [Shipment Analysis by Value from 2017 to 2028]:

• Power Generation
• Oil and Gases
• Refining
• Chemicals
• Metals and Mining
• Paper and Pulp
• Pharmaceuticals
• Food and Beverages
• Water and Wastewater
• Others

Emergency Shutdown System Market by Region [Shipment Analysis by Value from 2017 to 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Emergency Shutdown System Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies emergency shutdown system companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.

Some of the emergency shutdown system companies profiled in this report include:

• ABB
• Rockwell Automation
• Emerson Electric
• Versa Products
• Honeywell International
• General Electric
• Yokogawa Electric
• Schneider Electric
• Siemens
• Winn-Marion Companies

Emergency Shutdown System Market Insights

• Lucintel forecasts that emergency stop devices will remain the highest growing segment over the forecast period because it helps to improve safety across various industries like power generation and oil & gas sectors and it also empowers industries to prevent fatal incidents and enhance worker's safety.
• Within this market, oil and gas will remain the largest segment due to recovering oil and gas prices along with increasing upstream activity from offshore establishments.
• Europe will remain the largest region 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.

Features of the Emergency Shutdown System Market

• Market Size Estimates: Emergency shutdown system market size estimation in terms of value ($B)
• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
• Segmentation Analysis: Emergency shutdown system market size by various segments, such as by component, control method, end use industry, and region
• Regional Analysis: Emergency shutdown system market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis on growth opportunities in different by component, control method, end use industry, and regions for the emergency shutdown system market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the emergency shutdown system market.
• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

• Q1. What is the emergency shutdown system market size?
• Answer: The global emergency shutdown system market is expected to reach an estimated $3.3 billion by 2028.
• Q2. What is the growth forecast for emergency shutdown system market?
• Answer: The global emergency shutdown system market is expected to grow with a CAGR of 9.2% from 2023 to 2028.
• Q3. What are the major drivers influencing the growth of the emergency shutdown system market?
• Answer: The major drivers for this market are 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.
• Q4. What are the major segments for emergency shutdown system market?
• Answer: The future of the global emergency shutdown system market looks promising with opportunities in the power generation, oil and gas, refining, chemical, metal and mining, paper and pulp, pharmaceutical, food and beverage, and water and wastewater markets.
• Q5. Who are the key emergency shutdown system companies?
• Answer: Some of the key emergency shutdown system companies are as follows:
  • ABB
  • Rockwell Automation
  • Emerson Electric
  • Versa Products
  • Honeywell International
  • General Electric
  • Yokogawa Electric
  • Schneider Electric
  • Siemens
  • Winn-Marion Companies
• Q6. Which emergency shutdown system segment will be the largest in future?
• Answer:Lucintel forecasts that emergency stop devices will remain the highest growing segment over the forecast period because it helps to improve safety across various industries like power generation and oil & gas sectors and it also empowers industries to prevent fatal incidents and enhance worker's safety.
• Q7. In emergency shutdown system market, which region is expected to be the largest in next 5 years?
• Answer: Europe will remain the largest region 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.
• Q8. Do we receive customization in this report?
• Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the global 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. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?