The emergency shutdown systems market in Europe is expected to grow from US$ 457.43 Mn in 2018 to US$ 762.02 Mn by the year 2027 at a CAGR of 6.0% during the forecast period.
The European region accounted for the largest market share in emergency shutdown system market by region owing to its significantly large customer base and notable awareness among small and medium enterprise owners.
The growing trend of industrial control systems through technology enabled across multiple industry verticals is also expected to encourage the adoption among considerably large small and medium enterprise across different industry verticals. Thus, the market is anticipated to provide numerous lucrative business opportunities for the emergency shutdown system market players during the coming years.
On the basis of component, the Europe emergency shutdown systems market was led by the safety valves segment in 2018 with a decent share and is expected to continue its dominance during the forecast period, thereby accounting for decent share of the total market by 2027. Safety valves are a part of a safety shutdown valve (SSV) control systems that offer fail-safe shutdown of flow in case the pressure in the flow line crosses a particular range.
The overall Europe emergency shutdown systems market size has been derived using both primary and secondary sources. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the Europe emergency shutdown systems market. It also provides an overview and forecast for the emergency shutdown systems based on all the segmentation provided with respect to the Europe region. Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the emergency shutdown system industry. Some of the players present in Europe emergency shutdown systems market are Siemens AG, ABB Ltd, Honeywell International Inc, among others.