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The infographic below contains key findings from our analysis of the emergency shutdown valves market
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OSHA, Underwriters Laboratories, Environmental Protection Agency (EPA) are some of the regulatory bodies that are strictly imposing regulations on industrial facilities in regions such as European and North American countries to protect the workplace safety and environmental safety. Technavio’s market research report identifies that the increasing emphasis on the government regulations of workplace safety will be one of the primary growth drivers for the global emergency shutdown valves market till 2021. This, in turn, will compel manufacturers to replace and upgrade their existing facilities by installing emergency shutdown valves. A chemical manufacturing plant in Attleboro, the US, experienced leakage of gallons of hydrochloric acid. Such incidents prove the necessity of emergency shutdown valves in the end-user industries. Technavio’s market research analysts predict that this market will grow at a CAGR of close to 4% by 2021.
The increasing use of remote shutdown valves is one of the key trends that will propel the growth prospects for the global emergency shutdown valves market during the predicted period. During accidents such as fire hazard, it is impossible to shut down the valves manually. This compelled manufacturers to come up with remote shutdown valve product types that can overcome such issues.
The emergency shutdown valves market is fragmented and comprises of many vendors. These players are offering emergency shutdown valves and services at a competitive price. Market concentration, product differentiation, profitability, and degree of innovative solutions will strengthen the competitive environment of the market.
Key vendors in this market are -
Other prominent vendors in the market include J Flow Controls, Rico, Winn-Marion, Pekos valves, MIR VALVE, PFF, Accord, DERVOS VALVES, AMOT, and MOGAS.
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The oil and gas industry is the major end-user industry for emergency shutdown valves. The oil and gas industry accounted for the majority market share during 2016 due to the increasing number of vehicles in APAC. This, in turn, will boost the demand for fuel. The rising investments in this industrial segment will boost the adoption of emergency shutdown valves for safety measures.
The major end-user industries in EMEA are oil and gas, chemical, and food and beverage industries. The Middle East is the major revenue generator in EMEA. Countries such as Iran and Saudi Arabia are making efforts to maintain their global volume market share by focusing on the production of oil. This, in turn, will fuel the demand for emergency shutdown valves in the region during the forecasted period.
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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
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