The emergency shutdown systems market in North America is expected to grow from US$ 306.40Mn in 2018 to US$ 462.57 Mn by the year 2027 at a CAGR of 4.8% during the forecast period.
The increased demand from regional authorities for higher safety in countries such as the US and Canada encourages the growth of the emergency shutdown systems market.
It is anticipated that rising oil and gas prices and growing upstream activities will increase the growth for emergency shutdown systems market, especially from off-shore establishments as the demand for ESD systems comes from midstream, upstream, and downstream oil refinery activities. Laws and regulations such as the Bureau of Safety and Environmental Enforcement (BSEE) enforce safety and environmental laws for the off-shore oil and gas industry in the US, among others. However, limited penetration across SMEs in emerging economies and narrow scope for cross vertical standardization might hamper the emergency shutdown systems market growth during the forecast period. One of the latest trends impacting emergency shutdown systems market growth is the automated industrial control system.
North America emergency shutdown system market is expected to grow at a good CAGR during the forecast period. The surge in the demand for minimizing hydrocarbon leakages, especially in off-shore oilfield-based projects, is one of the major factors driving the emergency shutdown systems market.
North America Emergency Shutdown System Market–Segmentation
North America Emergency Shutdown System Market By Component
North America Emergency Shutdown System Market By Control Method
North America Emergency Shutdown System Market By End User Industry
North America Emergency Shutdown System Market By Country
North America Emergency Shutdown System Market-Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 306.40 Million |
| Market Size by 2027 | US$ 462.57 Million |
| CAGR (2018 - 2027) | 4.8% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Emergency Shutdown Systems Market is valued at US$ 306.40 Million in 2018, it is projected to reach US$ 462.57 Million by 2027.
As per our report North America Emergency Shutdown Systems Market, the market size is valued at US$ 306.40 Million in 2018, projecting it to reach US$ 462.57 Million by 2027. This translates to a CAGR of approximately 4.8% during the forecast period.
The North America Emergency Shutdown Systems Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Emergency Shutdown Systems Market report:
The North America Emergency Shutdown Systems Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Emergency Shutdown Systems Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Emergency Shutdown Systems Market value chain can benefit from the information contained in a comprehensive market report.
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