Global Emergency Shutdown Systems Market Report and Forecast 2024-2032

Global Emergency Shutdown Systems Market Outlook

The global emergency shutdown systems market size reached a value of approximately USD 2.30 billion in 2023. The market is expected to grow at a CAGR of 9.40% between 2024 and 2032, reaching a value of USD 5.07 billion by 2032.

Key Trends in the Market

An emergency shutdown system or ESD system is an automatic system that is commonly used in potentially hazardous areas that immediately shuts down operations of a plant in case of emergencies or uncontrolled situations. It is designed to protect the area from catastrophic impacts on the environment, operations, people, and finances.

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• Government all across the globe are issuing stringent regulatory policies in order to reduce damage to equipment, personnel, and environments by leaks, explosions, and other dangers. This is further increasing the emergency shutdown systems market demand in various industries.

• Rising adoption by oil and gas industries owing to the increasing risks of accidents is fuelling the emergency shutdown systems market growth. As oils and gas are highly flammable and dangerous ESD systems help prevent outbreak of fire and other accidents, creating a safer environment.

• Technological advancement such as development of a fully featured fire and gas system with cloud ready features in the emergency shutdown systems is further enhancing the growth of the emergency shutdown systems market. Application-specific emergency shutdown systems are further expected to rise in demand in the coming years.

Global Emergency Shutdown Systems Market Analysis

Based on component, the market is divided into switches, sensors, programmable safety systems, safety valves, and actuators, among others. On the basis of industry vertical, the emergency shutdown systems market segmentation is oil and gas, power generation, refining, metal and mining, and paper and pulp, among others. By region, the market is categorised into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

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The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global emergency shutdown systems market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• General Electric Co

• Siemens AG

• Honeywell International Inc

• ABB Ltd

• Schneider Electric SE

• Emerson Electric Co.

• Yokogawa Electric Works Ltd.

• Rockwell Autonomation Inc.

• Winn-Marion Companies

• Versa Products Co., Inc.

• Others

Global Emergency Shutdown Systems Market Share by Industry Vertical

Oil and gas accounts for a sizable share of the market for emergency shutdown systems based on industry vertical owing to increasing production capacities to meet the rising demands for end-use products. The high level of risks involved in oil and gas operations is resulting in an increased demand for emergency shutdown systems to prevent accidents. Emergency shutdown systems aid in protecting equipment and supporting uninterrupted operations, thereby reducing the financial risk of oil and gas companies.

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Global Emergency Shutdown Systems Market Share by Region

Europe occupies a significant share of the emergency shutdown systems market owing to the high industrial activity in the region which is supported by the presence of large crude oil refiners. Various end use industries in the region are adopting emergency shutdown systems with industrial control systems that have advanced technologies. This is subjected to further increase the demand for emergency shutdown systems in large, small and medium-sized enterprises across Europe.

Competitive Landscape

General Electric Co. was founded in 1892 and is headquartered in Massachusetts, United States. It is a multinational company that operates in power, digital industry, aviation, renewable energy, venture capital and finance, and additive manufacturing, among others.

Siemens AG is a multinational automation company that was founded in 1847 and is headquartered in Munich, Germany. The company focuses on operating in areas such as electrification, digitalisation, and automation, among others.

Honeywell International Inc. was established in 1853 and has its headquarter located in North Carolina, United States. The company primarily focuses in four areas of business: technologies, aerospace, performance materials, and building technologies.

Other market players include ABB Ltd, Schneider Electric SE, Emerson Electric Co., Yokogawa Electric Works Ltd., Rockwell Autonomation Inc., Winn-Marion Companies, and Versa Products Co., Inc., among others.

Key Highlights of the Report