Report

The global emergency shutdown systems market is expected to grow at a CAGR of 8.44% from 2024 to 2030.

RECENT VENDOR ACTIVITIES

- In 2023, Wartsila, an innovative technologies and lifecycle solutions company for the marine and energy markets, has completed another crucial milestone in demonstrating the safety of its energy storage system (ESS), GridSolv Quantum.
- In 2022, Emerson Electric Co. introduced the TopWorxTM DX PST with HART 7. It offers valuable diagnostic information and valve data, which enable the digital transformation of process applications. The new DX PST integrates seamlessly with existing control systems and valves, giving operators access to critical valve data, and diagnostics which can be used to understand and schedule maintenance.

KEY TAKEAWAYS

- By Component: The sensor segment holds the largest market share in 2024. The segmental growth is due to the sensor being a major component as it is used to find the dangerous conditions that can require immediate shutdown, which helps in stopping various accidents before and saving or protecting the assets and personnel.
- By Control Method: The electrical segment accounts for the largest market share. The segment is growing due to its high stability and reliability, which is ideal for safety-critical applications.
- By Industry: The oil & gas segment shows incremental growth of USD 0.40 billion during the forecast period. The increased need for managing various hazardous risks associated with hydrocarbon extraction and processing helps market growth.
- By Geography: APAC shows the highest growth of 9.16% during the forecast period. The market's growth is driven by faster developments of manufacturing facilities and rising industrialization.
- Growth Factor: The global emergency shutdown systems market is set to grow due to growth in nuclear power plant construction and the increasing complexity of industrial processes.

MARKET TRENDS

Integration of the Internet of Things (IoT)

IoT is a major trend in the ESD systems market which is shaping the future in coming years. It is driven by IoT sensors, cloud integration, preventive actions, real-time data & analysis, wireless communication, and increased accessibility. IoT in ESD systems gives several advantages including increased efficiency, cost savings, enhanced safety, and better compliance. With the continuous developments in these technologies, it is expected that there will be more advancements in emergency shutdown systems in the coming years.

Growth in Nuclear Power Plant Construction

Nuclear power plants have required extremely stringent safety due to the potential for the high consequences of accidents and radioactive releases. ESD systems are required to ensure safe operations and prevent catastrophic events. The growth in nuclear power plant construction presents a significant opportunity for the global emergency shutdown systems (ESD) market due to the critical safety requirements, modernization of existing plants, increased demand for new plants, and stringent regulations & standards. The demand for new power plants in many of the countries has increased significantly. Countries are seeking to expand the nuclear power plant's capacity to reduce the reliance on fossil fuels and meet the rising energy demands. The increased demand for nuclear power plants translates to increased construction activities, which require sophisticated ESD systems.

MARKET DRIVERS

Growing Awareness of Safety

The growing awareness of safety is a significant driver in the global emergency shutdown systems market due to several factors including increased focus on preventing losses, rising emphasis on worker safety, technological advancements, and shifting attitudes. Companies with strong brand reputations and safety records return and attract talent. Investing in ESD systems shows a commitment to safety, which enhances public perception and brand image. It drives the demand for ESD systems, during the forecast period. The increased media coverage increases awareness about safety incidents among the public and this increases the pressure on companies to focus more on safety. The companies are continuously investing in safety measures to demonstrate social responsibility and protect their surrounding communities and workforce.

Increasing Complexity of Industrial Processes

The increasing complexity of industrial processes is a significant driver in the global emergency shutdown systems market due to several factors including larger-scale operations, advanced technologies & processes, automation & interconnectedness, and stringent safety regulations. The industrial facilities are becoming more complex and larger to meet the rising demand. This rising capacity increased the potential for various accidents, which makes the ESD system crucial for preventing large-scale incidents and minimizing risks. Many industrial operations like the extraction of oil & gas, can be challenging in remote locations or environments. ESD system allows it to give a mechanism of reliable safety in such locations.

INDUSTRY RESTRAINTS

High Cost

The initial cost of emergency shutdown systems, especially those integrated with smart technologies, such as AI and IoT, involves high upfront costs. It can be difficult for smaller organizations or businesses with limited budgets to adopt the latest safety system. ESD systems involve a wide range of hardware components such as sensors, valves, actuators, switches, etc. Reliable and high-quality sensors for detecting hazardous conditions can be expensive. Safety valves often with redundant configurations have higher costs. Communication networks are essential for ESD systems, adding to the overall cost of ESD systems. The real-time monitoring solutions are expensive to install in complex facilities or larger areas.

Cybersecurity Risks in Connected Systems

Cybersecurity risks in connected systems are a major challenge in the emergency shutdown systems market. This is due to the vulnerability of IoT-enabled ESD systems, integration with building management systems (BMS), targeted attacks on critical infrastructure, data privacy & compliance challenges, threats of cloud-based monitoring systems, and lack of cybersecurity standards in fire safety systems. If emergency shutdown systems are not secured properly, they can be exploited by criminals to gain control or disrupt services over the safety infrastructure. It may create a bigger safety issue. The risk of cybersecurity is amplified by the rising number of connected devices. The cloud-based safety management systems allow remote access to emergency shutdown systems controls.

SEGMENTATION INSIGHTS

INSIGHTS BY COMPONENT

The global emergency shutdown systems market by component is segmented into sensors, logic solver, valves & actuators, and others. The sensors segment dominates and holds the largest market share in 2024. Sensors are a major component of emergency shutdown (ESD) systems, as they detect dangerous conditions that may require an immediate shutdown. They monitor various parameters and continuously send signals to the logic solver. By preventing accidents, sensors play a crucial role in protecting both assets and personnel. In an ESD system, sensors provide feedback to the control algorithm, which determines the variables that need to be controlled. Temperature sensors, for example, detect abnormal temperature conditions or rising temperatures that exceed safe levels. The demand for smart sensors is growing significantly due to their advanced communication capabilities and diagnostics. Additionally, the adoption of wireless sensors is increasing due to their flexibility and ease of installation. This trend is expected to drive the demand for sensors used in emergency shutdown systems in the global market during the forecast period.

- By Component
o Sensors
o Logic Solver
o Valves & Actuators
o Others

INSIGHT BY CONTROL METHOD

The global emergency shutdown systems market by control method is categorized into electrical, pneumatic, hydraulic, and others. The electrical control method accounted for the largest market share. Electrical control methods are known for their flexibility and enhanced diagnostics. They offer high stability and reliability, making them ideal for safety-critical applications. Electrical components such as PLCs and relays provide predictable performance during emergencies by ensuring the accurate and proper execution of shutdown commands. The demand for electrical control methods is rising significantly due to several factors, including lower costs, easier maintenance, wider applications, wireless communication, the adoption of industrial Ethernet, fault tolerance, and cybersecurity. Their lower costs stem from the reduced upfront expenses of relays, wiring, and panels. Additionally, maintaining and troubleshooting electrical systems is easier and less expensive compared to hydraulic or pneumatic systems. This trend is expected to drive the demand for electrical control methods in ESD systems in the global market.

- By Control Method
o Electrical
o Pneumatic
o Hydraulic
o Others

INSIGHT BY INDUSTRY

Based on the industry, oil & gas holds the largest share and shows incremental growth of USD 0.40 billion during the forecast period. The oil & gas segment faces a high risk of hazardous situations due to volatile substances, extreme operating conditions, and complex processes. As a result, ESD systems play a crucial role in preventing accidents, mitigating risks, and protecting assets, personnel, and the environment. The demand for ESD systems in the oil & gas sector is rising significantly due to several factors, including stringent regulations, environmental concerns, and high-risk operating environments. This segment includes upstream, midstream, and downstream operations. ESD systems are essential for preventing catastrophic events such as fires and ensuring the safety of personnel and assets on offshore platforms. Additionally, they help mitigate equipment failures and control incidents in onshore drilling rigs. Growing regulations aimed at preventing emissions and spills, along with increasing environmental awareness, are driving the need for stable ESD systems. Furthermore, the rising global demand for oil & gas production is expected to boost the ESD system market during the forecast period.

- By Industry
o Oil & Gas
o Chemical & Petrochemical
o Power Generation
o Others

GEOGRAPHICAL ANALYSIS

APAC region shows significant growth, with the fastest-growing CAGR of 9.16% during the forecast period. The market is growing rapidly due to rapid industrialization, increased awareness of safety, rising demand for power generation, stringent safety regulations, and increasing foreign investments in countries such as China, India, Indonesia, Malaysia, and South Korea. Additionally, the expansion of manufacturing industries�including automotive, pharmaceutical, and food & beverages�in countries like India and China is further driving demand. The growth of the manufacturing sector in these countries necessitates the adoption of ESD systems to mitigate risks associated with hazardous events. Industrial developments and rising investments in large-scale infrastructure projects are also fueling the need for ESD systems across the Asia-Pacific (APAC) region. Furthermore, the increasing demand for airports and railways, driven by growing traffic volumes, is contributing to the need for ESD systems to reduce accidental risks in air and rail transportation.

By Geography

- North America
o US
o Canada
- APAC
o China
o India
o Japan
o South Korea
- Europe
o Germany
o UK
o France
o Italy
o Spain
- Middle East & Africa
o Saudi Arabia
o UAE
o Turkey
- Latin America
o Brazil
o Mexico

COMPETITIVE LANDSCAPE

The global emergency shutdown systems market report contains exclusive data on 27 vendors. The market is characterized by a mix of emerging companies and established players. It is dominated by a few key companies offering a wide range of emergency shutdown systems. The industry is highly competitive, with major companies competing for market share through strategic mergers, acquisitions, and product innovations. To stay ahead, companies continuously update their product offerings in line with the latest trends. Leading firms are acquiring smaller companies to expand their market reach and enhance their product portfolios. With ongoing technological advancements, businesses are heavily investing in R&D to improve their product offerings. Additionally, they are focusing on launching emergency shutdown system components designed for complex industrial processes to enhance safety and efficiency. Companies are also tailoring their products to meet the specific requirements of various industries.

Key Vendors

- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Schneider Electric SE
- Siemens AG

Other Prominent Vendors

- Rockwell Automation, Inc.
- HIMA Group
- Yokogawa Electric Corporation
- OMRON Corporation
- Norgren Ltd
- GE Vernova
- Proserv UK Ltd
- Wartsila
- Metso Outotec
- Johnson Controls International PLC
- Vydraulics Group
- Safoco Inc.
- Winn-Marion Companies
- NOV Inc.
- Ruelco Inc.
- Rotork
- BWB Controls
- VERSA
- Esoteric Automation & Control Technologies
- Halliburton
- Worldwide Oilfield Machine
- Kongsberg Maritime

KEY QUESTIONS ANSWERED:

1. Which component segment has the largest share in the global emergency shutdown systems market?
2. How big is the global emergency shutdown systems market?
3. Which control methods segment provides more business opportunities in the global emergency shutdown systems market?
4. Who are the major players in the global emergency shutdown systems market?