Aug 25, 2017   SOURCE: BusinessWire

Emergency Shutdown Valves Market - Growth Opportunity and Trends by Technavio

Technavio’s latest market research report on the global emergency shutdown valves market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

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Technavio has published a new report on the global emergency shutdown valves market from 2017-2021. ...

Technavio has published a new report on the global emergency shutdown valves market from 2017-2021. (Graphic: Business Wire)

Emergency shutdown valves witness high demand from end-user industries due to increasing government regulations on workplace safety and the need for upgrading end-user facilities to meet these regulations. The oil and gas and chemical and petrochemical industries are the major end-user industries of emergency shutdown valves, and the replacement rates of emergency shutdown valves in this industrial segment are high.

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The top three emerging market trends driving the global emergency shutdown valves market according to Technavio research analysts are:

  • Increasing use of remote shutdown valves
  • Increasing use of actuators in emergency shutdown valves
  • Growing awareness to boost implementation of emergency shutdown systems

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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.

Emergency shutdown valves are mainly used in oil and gas, and chemical and petrochemical industries where they are placed near outlets of tanks and pipelines.

According to Bharath Kanniappan, a lead analyst at Technavio for automation research, “The use of remote shutdown valves is expected to increase, as they are very useful during accidents, such as a fire hazard, where it is impossible to shut down the valves manually. Owing to these applications and government regulations on workplace safety, the demand for remote shutdown valves is expected to increase during the forecast period.”

Increasing use of actuators in emergency shutdown valves

Actuators are used along with emergency shutdown valves to control the operation of these valves and increase efficiency. Product developments within the emergency shutdown valves market have helped in improving the quality as well as the functioning of these devices. The use of electric actuators is expected to increase during the forecast period.

These actuators enable digital controls for controlling the valves. Wireless and Bluetooth capabilities enabled product types help in controlling the valves remotely. Actuators are available with a self-contained power source that helps in controlling the operation of these emergency shutdown valves, even during unexpected power failures within a plant. Vendors also offer smart actuators that help in diagnosing and maintaining operations. All these features are expected to create demand for actuators, as this helps in improving the efficiency of emergency shutdown valves.

Growing awareness to boost implementation of emergency shutdown systems

Many end-user industries are trying to install emergency shutdown systems that include emergency shutdown valves, DCS, controllers, and other components. These systems help in keeping the workplace safe, as these systems are responsible for taking measures to prevent any accident or catastrophic event.

“Despite technical difficulties in installing emergency shutdown systems, most end-user industries have started implementing emergency shutdown systems, as these end-user industries have understood the importance of implementing these systems with respect to safety,” says Bharath.

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