Industrial emergency shutdown systems are used in the petrochemical and chemical, gas and oil, and other industries as a safety instrument system to protect the manufacturing plant from leakage or explosion. The system is used to activate curative output so that hazardous consequences can be alleviated. In any type of process abnormality, the industrial emergency shutdown systems are the ultimate option for protection in the industrial unit. These systems are connected to sensors with PLCs to form a safety loop. The industrial emergency shutdown systems are used to shut down or halt a plant when hazardous situations like uncontrolled flooding, hydrocarbon escape etc. take place. The number of end users in the industrial emergency shutdown systems market comes from heavy industries like oil and gas where major units like production, manufacturing, and hazardous operation processes take place. Industries occupy major part in the industrial emergency shutdown systems market where safety is the prime concern.
Industrial Emergency Shutdown Systems Market: Market Dynamics
Rise in the number of accidents in the industry works and the number of hazardous explosions has grown the demand in the industrial emergency shutdown systems market. Growing number of projects for sophisticated plants and processes has been a driving factor for the growth of industrial emergency shutdown systems armlet. Rapid expansion of industries like gas and oil has been driving the growth of industrial emergency shutdown systems market. Government regulations towards use of hazardous products and the rising safety norms have been the restraining factors towards the growth of the industrial emergency shutdown systems market.
High cost of the system and extra cost to the manufacturers in maintenance has become a restraint to the growth of industrial emergency shutdown systems market.
Also, rise in popularity of industrial IoT and demanding programmable safety systems in industrial emergency shutdown systems is a platform for growth of opportunities in the market.
Industrial Emergency Shutdown Systems Market: Market Segmentation
The industrial emergency shutdown systems market can be segmented on the basis of product type, end user, and region.
On the basis of product type, the industrial emergency shutdown systems market can be segmented into:-
- Safety controllers/modules/relays
- Safety switches
- Logic solver/programmable safety systems
- Emergency stop devices
- Safety sensors
On the basis of end user, the industrial emergency shutdown systems market can be segmented into:-
- Water & wastewater
- Metal & mining
- Power generation
- Oil & gas
- Food & beverages
- Paper & pulp
Industrial Emergency Shutdown Systems Market: Regional Outlook
The industrial emergency shutdown systems market can be segmented on the basis of geography into seven main regions as North America, APEJ, MEA, Western Europe, Latin America, Eastern Europe and Japan. North America is the leading vendor in the industrial emergency shutdown systems market due to highest volume occupied by the manufacturers in the region as the safety concerns are high by the government policies in countries like U.S and Canada. Demand in Western and Eastern Europe is also increasing due to rising industrialization in the region and is expected to rise in the forecast period. Asia Pacific is also slowly rising in the industrial emergency shutdown systems market in the countries like India and China and is expected to rise in the forecast period. The countries like New Zealand and Australia have limited networks in the market and is expected to grow in the forecast period. In the Middle East and Africa region, market is high in demand due to the government policies in countries like Brazil over safety issues.
Industrial Emergency Shutdown Systems Market: Key Players
The prominent players in the industrial emergency shutdown systems market are:-
- Honeywell International
- Tyco International
- Yokogawa Electric
- Rockwell Automation
- Esoterica Automation
- HIMA Paul Hildebrandt
- Johnson Controls
- Schneider Electric
- Siemens Int.
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