Hazardous Area Equipment Market Industrial Insights, Growth, Future Trends, Geographic Analysis 2023
Market Scenario:
The Hazardous Area Equipment was valued at USD 6.24 billion in 2016 but it is gaining growth year over year as the work environments are become more challenging. This rapid development in the manufacturing sector is driving the Hazardous Area Equipment Market. The wide usage of cable glands for almost all processes and equipment in the hazardous areas is resulting in the growing demand of these equipment.
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The study indicates that the growing focus on increasing safety measures in industries, especially process and cooling industries, is creating a significant demand for flame- and explosion-proof hazardous area equipment such as industrial controls, cable glands, motors, sensors, strobe beacons, lightings, and so on. However, the key factor which is limiting the growth of the hazardous area equipment is that the wireless hazardous area equipment acts as a source of ignition in hazardous areas.
The Hazardous Area Equipment Market for the oil & gas industry held the largest market size in 2016 and is expected to grow at the highest CAGR. This market is fueled by the growing application of various hazardous area equipment such as motors, industrial controls, strobe beacons, lighting products
The global Hazardous Area Equipment market is expected to grow at USD$ ~8.48 Billion by 2023, at ~7.2% of CAGR between 2017 and 2023.
Key Players
The prominent players in the Hazardous Area Equipment system Market are –Siemens AG (Germany), NHP Electric Engineering Products (Australia), Honeywell International Inc. (US), PATLITE Corporation (US), Eaton Corporation Plc (US), Rockwell Automation (US), E2S Warning Signals (US), ABB Ltd. (Switzerland), R.STAHL AG (Germany) and Emerson Electric Co. (US) among others.
Segments:
The global Hazardous Area Equipment system market has been segmented on the basis of Product, Connectivity Service, end -users and region.
Hazardous Area Equipment System Market by Product:
- Lighting Products
- Sensors
- Fire Alarms/Call Points
- Cable Glands and Accessories
- Process Instruments
- Industrial Controls
- Motors
- Strobe Beacons
- Visual and Audible Combination Units
- Others
Hazardous Area Equipment System Market by Connectivity Service:
- Wired
- Wireless
Hazardous Area Equipment System Market by End-User:
- Automotive and aerospace
- Pulp & Paper
- Steel & Metal
- Oil & Gas
- Chemical & Pharmaceutical
- Food & Beverages
- Energy & Power
- Mining
- Others
Hazardous Area Equipment System Market by Regions:
- North America
- Europe
- APAC
- Rest of the World
Regional Analysis
The regional analysis of Hazardous Area Equipment Market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. APAC and North America are the major markets for hazardous area equipment. A significant number of prominent oil & gas and mining industries, which are highly prone to explosive environments, are based in North America and APAC. Europe market in 2016, owing to major hazardous area equipment manufacturing companies based out here. This region is expected to grow further in the coming years of the hazardous area equipment market due to the equipment are being used in Hazardous areas is under constant threat of causing an explosion even at the occurrence of slight spark. So, to overcome such risks hazardous area equipment is installed which can inhibit or prevent possibilities of such explosions. This equipment limits/ restricts the explosion thereby reducing the impact of the explosion.
Intended Audience
- Raw material providers
- Original equipment manufacturers
- Semiconductor component suppliers
- Hazardous area equipment distributors
- Software solution providers
- Connectivity Service providers for hazardous equipment
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
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TABLE OF CONTENTS
LIST OF TABLES
TABLE 1 HAZARDOUS AREA EQUIPMENT MARKET, BY PRODUCT
TABLE 2 HAZARDOUS AREA EQUIPMENT MARKET, BY CONNECTIVITY SERVICE
TABLE 3 HAZARDOUS AREA EQUIPMENT MARKET, BY END-USER
TABLE 4 HAZARDOUS AREA EQUIPMENT MARKET, BY REGIONS
TABLE 5 NORTH AMERICA HAZARDOUS AREA EQUIPMENT MARKET, BY PRODUCT
Continued…
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