Global Hazardous Area Equipment Market, By Product (Cable Glands and Accessories, Lighting, Barrier Products, Industrial Controls, Display Products, Enclosures, Motors, Strobe Beacons, Sensor), By Connectivity (Wireless, Wired), By Industry (Oil & Gas, Chemical, Marine & Shipbuilding, Power & Energy, Metals & Mining, Pharmaceutical, Food & Beverage, Rubber & Plastics, Water & Waste Treatment, Military & Aerospace), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2025
Global Hazardous Area Equipment Market is expected to reach USD 36,568.28 Million by 2025 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Some of the major players operating in this market are Honeywell International, Inc., ABB Ltd, Rockwell Automation, Inc, Eaton Corporation PLC, Emerson Electric & Co., Patlite Corporation, Potter Signal Co, Qunitex GmbH, Pepperl+Fuchs, Inc., Stahl Ag, Cortem Group, Marechal Electric among others.
The major factors driving the growth of this market are increasing industrial safety measures and technological advancements in led lighting solution. On the other hand time-consuming and expensive inspection and maintenance may hinder the growth of the hazardous area equipment market.
A Hazardous Area Equipment are the equipment is stated as an area that has an explosive atmosphere, may have expected to be, such areas require special precautions in order to avoid any ignition sources. Many approaches can be made to avoid destructions out of hazardous areas, such as confining the area; isolating the area reduces the risk of accident.
Major Market Drivers and Restraints:
- Technological advancements in lighting solutions
- Increasing industrial safety measures
- Acts as a source of ignition in hazardous areas
- Time-consuming and expensive inspection and maintenance
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Key Drivers: Global Hazardous Area Equipment Market
Some of the major factors driving the market for global hazardous area equipment market are increasing industrial safety measures and technological advancements in led lighting solution are boosting the market growth. On the other hand, time-consuming and expensive inspection and maintenance may hamper the growth of the market.
Honeywell International, Inc., is going to dominate the global hazardous area equipment market followed by ABB Ltd, Siemens Ag and Eaton Corporation PLC.
- The product segment is dominating the global hazardous area equipment market.
- Oil and gas segment is expected to grow with the highest CAGR of 7.3% in the forecast period 2018 to 2025.
On the basis of product type:- cable glands & accessories, process instruments, industrial controls, motors, strobe beacons, lighting products, sensors, bells & horns, fire alarms/call points, speakers & tone generators, visual & audible combination units.
On the basis of connectivity service:- wired connectivity service, and wireless connectivity service.
On the basis of application:- Oil & gas, chemical & pharmaceutical, food & beverage, energy & power, mining, and others.
On the basis of geography:- North America, South America, Europe, Asia-Pacific, and Middle East & Africa.
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