According to a market report by Lucintel, 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.
In this market, safety switches, emergency stop devices, safety controller/modules/relays, safety sensors, logic solvers/programmable safety systems, valves, and actuators are the different segments of emergency shutdown system market by component. 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.
ABB, Rockwell Automation, Emerson Electric, Versa Products, Honeywell International, General Electric, Yokogawa Electric, Schneider Electric, Siemens, and Winn-Marion Companies are the major suppliers in the global emergency shutdown system market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global emergency shutdown system market by component, control method, end use industry, and region. Lucintel has compiled a comprehensive research report entitled “Growth Opportunities in the Global Emergency Shutdown System Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. 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
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at
helpdesk@lucintel.com.
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This report answers the 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?