Solution : https://service.sap.com/sap/support/notes/307976 (SAP Service marketplace login required)
Summary : 
      In SAP R/3, the PXA_NO_SHARED_MEMORY issue arises when there's insufficient shared memory to establish the program buffer dictated by the abap/buffersize profile parameter. On failing to create a default 32 MB buffer in shared memory, the system initializes in emergency mode, activating only two work processes (w0, w1) for diagnostic purposes, not suitable for production. Potential causes include altered profile parameters or additional applications consuming shared memory. Resolutions include adjusting the abap/buffersize parameter, clearing stuck memory segments, or system reboot. System admins should verify resource adequacy using the 'ipclimits' utility.
Key words : 
delete hanging shared memory segments, short dump pxa_no_shared_memory occurs, profile parameter abap/buffersize, additional key words pxa_no_free_space, shared memory correctly fragmentation, shared memory segments, insufficent shared memory, missing shared memory, running finished applications, utility program 'ipclimits'
Related Notes : 
       
| 373326 | NT: R/3 system does not start with 4.6D R/3 kernel | 
| 129813 | Windows: Problems due to address space fragmentation |