World ESD System Market to Register 9.1% CAGR, States M&M in Comprehensive Report Available at MarketPublishers.com05 May 2016 • by Natalie Aster
LONDON – The global market for emergency shutdown (ESD) systems is projected to register 9.1% CAGR to amount to USD 1,816 million by the end of 2022. The surging demand for safety systems within the oil & gas sector and the introduction of regulatory measures by a number of governments for work safety are amid the key factors giving a boost to the market.
Among the components of the market, the programmable safety systems are set to post the highest CAGR over the forecast period due to manifold advantages they offer. Programmable safety systems are the backbone of the whole safety system, and super-reliable logic units offer fail-secure and fault-tolerant operations. These systems are comparatively new and are gaining rapid momentum. They are highly effective, flexible to design changes, super-reliable, easy to install, and extremely secure.
Geography-wise, APAC is anticipated to post the highest CAGR up to 2022 due to a number of factors such as the expanding industrialisation in the region, surging emphasis on machine and industrial safety by the organisations, and the influence of transnational corporations on the embracing of safety systems.
Siemens AG, Rockwell Automation, HIMA Paul Hildebrandt GmbH, Emerson Electric Company, Honeywell International, General Electric Company, Yokogawa Electric Corporation, ABB Ltd., OMRON Corporation, and Schneider Electric SE, amid others, are the top participants in the industry.
Comprehensive research report “Emergency Shutdown System Market” drawn up by M&M contains an in-depth analysis of the market on a global level and categorises it on the basis of components, applications, and by geography; providing detailed revenues figures and forecast data for the overall market and each of its individual segments. The study gives an all-round assessment of the driving factors, limiters, opportunities and challenges as regard to the ESD system sector. It includes Porter's five forces analysis shedding light on the key competitive forces and their pertinent influence on the market. The publication discusses the competitive scene and gives a detailed description of the top 11 industry players.
More studies by our market research partner can be found at M&M page.