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The global emergency shutdown systems market was valued at US$ 1.85 Billion in 2021.
We expect the global emergency shutdown systems market to exhibit a CAGR of 9.10% during 2022-2027.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for emergency shutdown systems.
The rising adoption of emergency shutdown systems to minimize the risk of major incidents, along with the increasing integration with IoT for providing real-time monitoring, is primarily driving the global emergency shutdown systems market.
Based on the control method, the global emergency shutdown systems market has been segmented into pneumatic, electrical, fiber optic, hydraulic, and others. Currently, pneumatic holds the majority of the total market share.
Based on the industry vertical, the global emergency shutdown systems market can be divided into oil and gas, refining, power generation, metal and mining, paper and pulp, and others. Among these, the oil and gas industry exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Europe currently dominates the global market.
Some of the major players in the global emergency shutdown systems market include ABB Ltd, Emerson Electric Co., General Electric Company, HIMA Paul Hildebrandt GmbH, Honeywell International Inc., Nov Inc., Rockwell Automation Inc, Schneider Electric SE, Siemens Aktiengesellschaft, Versa Products Company Inc., Winn-Marion Companies, and Yokogawa Electric Corporation.
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