Global Emergency Shutdown Systems Market (2020 to 2025) – Growth, Trends, and Forecasts

Dublin, Nov. 18, 2020 (GLOBE NEWSWIRE) — The “Emergency Shutdown Systems Market – Growth, Trends, and Forecasts (2020-2025)” report has been added to ResearchAndMarkets.com’s offering.Regulations like the Bureau of Safety and Environmental Enforcement (BSEE) which enforces safety and environmental protection regulations for offshore oil and natural gas industry in the United States are prevalent across other regions like Europe as well (Europe 4 and 5 standards).To minimize the risk of a major incident, pressure and temperature of the line are closely monitored and that is where the ESD system comes into play.With new refinery projects anticipated across regions like India, which is expected to commission the largest green refinery in the world, the demand for the ESD systems is expected to increase over the forecast period. New upcoming oil and gas refinery projects to be commissioned between the timeframe of 2017-2023 across Norway, Denmark, Uzbekistan, Kuwait among others can be potential customers for the ESD systems.With the US Department of the Interior planning to allow the offshore exploratory drilling in about 90% of the Outer Continental Shelf (OCS) acreage, under the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) planned for 2019-2024, the oil and gas sector in the region is also anticipated to offer new opportunities to the market.Europe is Expected to Hold a Significant Market ShareEurope is one of the most advanced and one of the largest crude oil refiners in the world. As of 2017, the region is responsible for 15% of the global oil refining capacity. The low crude oil situation in the recent past has significantly increased the demand for the expansion of existing refineries and the inception of new projects.Also, there has been a considerable exploration activity in countries like the United Kingdom that have led to key discoveries such as Glendronach (by Total). It is estimated that Glendronach is the fifth-largest conventional natural gas reserve discovery on the UK Continental Shelf, in the millennium.The increased adoption of industrial control systems with advanced technologies across multiple end-user industries is also anticipated to encourage the adoption of the emergency shutdown systems among considerably large, small and medium enterprise across the region. Thus, the region is expected to provide business opportunities for the market players during the forecast period.Competitive LandscapeNov 2019 – Yokogawa Electric Corporation announced the release of ProSafe-RS R4.05.00, which is an enhanced version of the ProSafe-RS safety instrumented system. The ProSafe-RS is a core product of the OpreX Control and Safety System family offered by the company.Reasons to Purchase this report:The market estimate (ME) sheet in Excel format3 months of analyst supportKey Topics Covered:Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.CONTACT: ResearchAndMarkets.com
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