Global Emergency Shutdown Valves Market to Grow at a CAGR of 3.5% by 2021: Driven by the Increasing Use of Remote Shutdown Valves

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Aug 29, 2017, 15:00 ET

DUBLIN, August 29, 2017 /PRNewswire/ --

The "Global Emergency Shutdown Valves Market 2017-2021" report has been added to Research and Markets' offering.

The global emergency shutdown valves market is forecast to grow at a CAGR of 3.5% during the period 2017-2021.

The report, Global Emergency Shutdown Valves Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

The latest trend gaining momentum in the market is the 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 the 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 the 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.

Key vendors

Cameron
Emerson
Flowserve
General Electric
Metso

Other prominent vendors

J Flow Controls
Rico
Winn-Marion
Pekos valves
Others

Key Topics Covered:

Part 01:Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By End-User

Part 07: Geographical Segmentation

Part 08: Decision Framework

Part 09: Drivers And Challenges

Part 10: Market Trends

Part 11: Vendor Landscape

Part 12: Key Vendor Analysis

Part 13: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/7zq9kh/global_emergency

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SOURCE Research and Markets