According to the new market research report "Hazardous Area Equipment Market by Product (Cable Glands and Accessories, Industrial Controls, Process Instruments, Strobe Beacons, Lighting, Fire Alarms), Connectivity Service (Wired, and Wireless), Industry, and Geography - Global Forecast to 2022", the market is expected to grow from USD 6.24 Billion in 2016 to reach USD 8.82 Billion by 2022, at a CAGR of 5.74% between 2017 and 2022.
Browse 65 market data tables and 71 figures spread through 169 pages and in-depth TOC on "Hazardous Area Equipment Market - Global Forecast to 2022"
Early buyers will receive 10% customization on reports.
The growing focus on increasing safety measures in industries, especially process and cooling, is creating a good demand for flame- and explosion-proof hazardous area equipment such as industrial controls, motors, cable glands and accessories, strobe beacons, lighting, and so on.
Cable glands and accessories segment likely to hold the largest market share during the forecast period
Cable glands and accessories have been a major market for hazardous area equipment. With the wide usage of flame-proof cable glands in every industry, more advancements are taking place and end users are focusing on the safety at workplaces. Moreover, owing to the increasing importance in all process-oriented industries for equipment and environmental cabling purposes, this product segment is expected to hold the largest market share during the forecast period.
The oil & gas industry held the largest share of the hazardous area equipment market in 2015
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 between 2017 and 2022. Fueled by the growing application of these hazardous area equipment such as motors, industrial controls, strobe beacons, lighting products, and so on in the exploration and extraction of shale gas and oil, this industry is likely to retain its leading position till 2022.
Middle East, Africa together held the largest market share in 2016
The RoW (Middle East, Africa, and Latin America) region held the largest share of the hazardous area equipment market in 2016, followed by North America and Europe. The Middle East and Africa accounted for the largest share of the hazardous area equipment market in RoW. The high growth of the market in this region can be attributed to the presence of world’s largest oil & gas production, mining, and energy & power industries which are highly prone to explosion.
The key manufacturers of hazardous area equipment market include Honeywell International, Inc. (US), PATLITE Corporation (US), Eaton Corporation Plc (US), Siemens AG (Germany), Emerson Electric Co. (US), NHP Electric Engineering Products (Australia), Rockwell Automation (US), E2S Warning Signals (US), ABB Ltd. (Switzerland), and R.STAHL AG (Germany), among others.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Email: [email protected]