Industrial ESD: Key market research findings
- Increased use of analytical solutions
- Heavy investments in oil and gas and other process industries
Technavio has released a new market research report on the global industrial ESD systems market, which is expected to grow at a CAGR of 12% by 2020. ESD (emergency shutdown) system is a safety-instrumented system that protects a manufacturing plant from explosions or leakages in oil and gas, chemical and petrochemical, and other industries. Of late, Occupational Safety and Health Administration (OSHA) and other environment regulatory bodies have necessitated the deployment of ESD in process industries. EMEA dominates the industrial ESD market, owing to the rising demand from the oil and gas, chemical and petrochemicals, and pharmaceutical industries.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Of late, the industries are increasingly using analytical solutions in decision-making processes. Analytics provide timely information for maintenance and services for ESD solution that can save downtime for the plants in process industries. In addition, it helps to analyze faulty instruments in the loop of ESD systems and can be used for further planning and decision making for proper plant safety and management,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
Technavio’s market research analysts estimate the global industrial ESD systems market to grow significantly during the forecast period, owing to heavy investments and expansion of plants in oil and gas and chemical and petrochemical industries. These industries account for more than 60% of the overall market share of ESD solutions.
The key vendors in the global industrial ESD systems market are ABB, Rockwell Automation, Schneider Electric, Siemens, and Yokogawa Electric. These major players hold majority of market shares due to their high brand value and expertise in the automation sector. The presence of many automation solution providers that offer complete end-to-end integration and services for safety solutions in plants has intensified competition in this market.
A more detailed analysis is available in the Technavio report, Global Industrial ESD Systems Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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