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Emergency Shutdown Systems Marke Market Competition by Business Players 2020 Current Developments, Upcoming Trends, Product Type and Applications Forecast to 2024

Emergency Shutdown Systems Marke

The “Emergency Shutdown Systems Marke Market” report 2020 provides information for market players, stakeholders, investors, and business strategists to achieve a leading position in the market. It maintains the record of Unusual growth strategies adopted by various companies that are creating new standards for competition in the global Emergency Shutdown Systems Marke market. Businesses around the world are aiming at increasing their profit margin and establishing a stronghold in the global market. The impact of the prevailing regulatory scenario on both regional and worldwide Emergency Shutdown Systems Marke market is provided in detail in the report.

Emergency Shutdown Systems Marke Market Covers the Following Key Players:

  • 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

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    Market Overview:

  • The global emergency shutdown systems market was valued at USD 1.3 billion in 2018 and is expected to reach a value of USD 2.35 billion by 20234 at a CAGR of 9.29% over the forecast period of 2019–2024. 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, oil and gas industry is the largest source of demand for emergency shutdown systems.
  • – Owing to increasingly complex manufacturing and industrial applications, there has been a rise in the number of global catastrophic accidents. According to the Global Wellness Institute, there was 313 million number of work-related and 2.3 million work-related deaths in 2016, globally.
  • – The initial investments associated with the installation of an emergency shutdown system is very high. The total cost of ownership involves capital costs, such as acquisition and design of machines. Wellhead and process emergency shutdown systems are complex and their design has to rely on knowledge from many different disciplines, which accounts for higher design and development costs.
  • – Regionally, North America is the primary hub for all the major manufacturing establishments in the world and remains a dominant market due to the highest volume occupied by the manufacturers in the region. The regional authority further demands high safety concerns in countries, like the United States and Canada, which further encourages ESD systems to be deployed across the respective industries. Despite the economic slowdown and recession in 2008–2009, the North American emergency shutdown systems market witnessed continued growth in the post-recession period.

    Scope of the Report:

    Emergency Shutdown Systems (ESD) ensures priority control of process equipment which is required for switching the process in safe mode.

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    Key Market Trends:

    Oil and Gas has the Largest Growth During the Forecast period

    – 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.

    Europe Accounts for a Significant Share in the Market

    – Europe is one of the largest markets for emergency shutdown systems (ESD) in the world. A considerable activity in the downstream oil and gas sector and high industrial activity in the region is one of the most prominent drivers for 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.

    Report Highlights:

    • The report provides a detailed analysis on current and future market trends to identify the investment opportunities
    • Market forecasts till 2024, using estimated market values as the base numbers
    • Key market trends across the business segments, Regions and Countries
    • Key developments and strategies observed in the market
    • Market Dynamics such as Drivers, Restraints, Opportunities and other trends
    • In-depth company profiles of key players and upcoming prominent players
    • Growth prospects among the emerging nations through 2024
    • Emergency Shutdown Systems Marke Market opportunities and recommendations for new investments

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    Detailed TOC of Emergency Shutdown Systems Marke Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Governments Stringent Regulatory Policies for Industrial Safety
    4.3.2 Growing Large-scale Production Projects due to Expansion of Oil and Gas Industry
    4.4 Market Restraints
    4.4.1 High Initial and Maintenance Costs
    4.5 Value Chain Analysis
    4.6 Industry Attractiveness Porters Five Force Analysis
    4.6.1 Threat of New Entrants
    4.6.2 Bargaining Power of Buyers/Consumers
    4.6.3 Bargaining Power of Suppliers
    4.6.4 Threat of Substitute Products
    4.6.5 Intensity of Competitive Rivalry

    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 Rest of the World

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 ABB Limited
    6.1.2 Emerson Electric Company
    6.1.3 General Electric Co.
    6.1.4 Hima Paul Hildebrandt GmbH
    6.1.5 Honeywell International Inc,
    6.1.6 Omron Corporation
    6.1.7 Proserv Ingenious Simplicity
    6.1.8 Rockwell Automation, Inc.
    6.1.9 Schneider Electric SE
    6.1.10 Siemens AG
    6.1.11 Yokogawa Electric Corporation
    6.1.12 Wartsila Oyj Abp
    6.1.13 Doedijns Group
    6.1.14 Safoco Inc.
    6.1.15 Winn-Marion Companies
    6.1.16 National Oilwell Varco Inc.
    6.1.17 Ruelco Inc.
    6.1.18 BWB Controls Inc.
    6.1.19 Bifold Group Ltd
    6.1.20 Versa Products Company Inc.
    6.1.21 Halliburton Company

    7 INVESTMENT OPPORTUNITIES

    8 MARKET OPPORTUNITIES AND FUTURE TRENDS

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