Global Emergency Shutdown Valves Market 2017-2021
About Emergency Shutdown Valves
Emergency shutdown system (ESD system) is a safety instrument system that helps in protecting the industrial facilities from any accidents or emergency situations. Oil and gas, chemical and petrochemical, power, water and wastewater are some of the major end-users of this safety instrument system. This system recognizes the threat and takes necessary measure to prevent any catastrophic events.Emergency shutdown systems consist of emergency shutdown valves, sensors, PLC (Programmable logic controller) and other control devices. These components help in checking the conditions of each of the machinery and process to determine any problems or emergencies and this information is used by the control devices like PLC, DCS (Distributed control system) to take necessary action. The demand for these emergency shutdown systems have increased due to the raising industrial accidents and many of the end-user industries are implementing these systems to address the increasing concern over workplace safety. Growing awareness among the end-user industries is another reason for the implementation of emergency shutdown systems.
Technavio’s analysts forecast the global emergency shutdown valves market to grow at a CAGR of 3.51% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global emergency shutdown valves market for 2017-2021. To calculate the market size, the report considers the new installations, sales and replacement, and services market.The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Emergency Shutdown Valves Market 2017-2021
Technavio recognizes the following companies as the key players in the global emergency shutdown valves market: Cameron, Emerson, Flowserve, General Electric, and Metso.
Other Prominent Vendors in the market are: J Flow Controls, Rico, Winn-Marion, Pekos valves, MIR VALVE, PFF, Accord, DERVOS VALVES, AMOT, and MOGAS.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing use of remote shutdown valves. Many end-user industries still rely on manual shutdown valves. Owing to product developments, many vendors are offering remote shutdown valves that can be controlled remotely. During emergency situations, these can be easily operated for safeguarding the workplace environment.”
According to the report, one of the major drivers for this market is Upgrading end-user industries to improve efficiency. End-user industries, such as oil and gas, power, and chemical, are upgrading their facilities to meet the government regulations and improve their efficiency. The oil and gas and chemical industries need to comply with strict regulations to avoid the increasing number of accidents, such as the Deepwater Horizon oil spill in 2010. Such incidents have led to upgrading of existing machinery, wherein emergency shutdown valves play a major role in ensuring workplace safety. These valves are responsible for restricting the flow of gases or liquids in pipelines during an accident or any other emergency situation. The growing awareness about workplace safety and stringent government regulation regarding the same are driving end-users to opt for upgrades, which in turn, is enhancing the demand for emergency shutdown valves.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuating raw material prices. Copper, steel, and iron are some of the major raw materials used in the manufacturing of emergency shutdown valves. Due to the fluctuating raw material prices, many vendors are not able to reduce the operation cost. Prominent vendors and big companies are opting for vertical integration and long-term contracts with the suppliers to avoid the fluctuating raw material cost. This strategy is only feasible for big companies. Thus, this factor remains a challenge for small vendors of emergency shutdown valves.
Cameron, Emerson, Flowserve, General Electric, Metso, J Flow Controls, Rico, Winn-Marion, Pekos valves, MIR VALVE, PFF, Accord, DERVOS VALVES, AMOT, and MOGAS.
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