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.
Mexico Emergency Shutdown System Market Revenue and Forecasts to 2027 (US$ Mn)
North America Emergency Shutdown System Market–Segmentation
North America Emergency Shutdown System Market By Component
- Switches
- Sensors
- Programmable Safety System
- Safety Valves
- Actuators
- Others
North America Emergency Shutdown System Market By Control Method
- Pneumatic
- Electrical
- Fiber Optic
- Hydraulic
North America Emergency Shutdown System Market By End User Industry
- Oil & Gas
- Refining
- Power Generation
- Chemical
- Others
North America Emergency Shutdown System Market By Country
- US
- Canada
- Mexico
North America Emergency Shutdown System Market-Companies Mentioned
- Siemens AG
- ABB Ltd.
- Emerson Electric Co.
- General Electric Company
- Honeywell International Inc.
- National Oilwell Varco, Inc.
- Cameron International Corporation
- OMRON Corporation
- Schneider Electric SE
- Yokogawa Electric Corporation
North America Emergency Shutdown Systems Market Strategic Insights
North America Emergency Shutdown Systems Market Report Highlights
| 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 | US, Canada, Mexico |
| Market leaders and key company profiles |
|
North America Emergency Shutdown Systems Market Country and Regional Insights
