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The Global Hazardous Area Equipment Market size is expected to reach $13.5 billion by 2028, rising at a market growth of 5.4% CAGR during the forecast period
Hazardous spots in electrical and safety engineering are locations where there may be fire or explosion risks. Sources of these dangers include combustible gases, fumes, dust, fibres, and flying objects.
New York, Jan. 25, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Hazardous Area Equipment Market Size, Share & Industry Trends Analysis Report By Product, By Industry, By Regional Outlook and Forecast, 2022 - 2028" - https://www.reportlinker.com/p06412046/?utm_source=GNW
Due to electrical arcing or high temperatures, the electrical equipment connected to these places may serve as an pandemic source. There are principles and techniques for locating these places, classifying the dangers there, and planning equipment for safe usage. When turned on or off, a light switch may cause a tiny, harmless spark.
In a typical home, this poses little danger, but if a combustible environment is present, the arc might trigger an explosion. Such an environment is widespread, or at least often conceivable, in many commercial, industrial, and scientific contexts. It is important to protect against fire and explosions for both employee safety and consistency reasons. Chemical characteristics of various explosive atmospheres influence the probability and strength of an explosion.
These advantages include least burst energy, molecular weight, upper and lower explosive limits, and flame temperature. Limitations such as least igniting current (MIC) ratio, extreme experimental safe gap (MESG), explosion burden and duration to spontaneous explosion temperature, peak pressure, and maximum rate of pressure increase are all determined by empirical testing.
The industrial sector’s ongoing development has accelerated the need for hazardous area equipment. Additionally, owing to the state of the equipment in hazardous regions and the utility of cable glands for all constructions, the need for hazardous area equipment is rising. Due to the increased need for security measures for the cooling and process sectors. The primary driving force behind the expansion of the worldwide market is the rising demand for safety precautions equipment.
COVID-19 Impact Analysis
The COVID-19 global health crisis has had a significant effect on the majority of industrial sectors throughout the world. The hazardous area equipment market, like all the other market segments, saw a number of unforeseen difficulties during the pandemic, including a decline in demand and a loss of income. On the other hand, the market for hazardous area equipment is anticipated to expand significantly throughout the assessment period because rising immunization rates and a rebound in global economic activity.
Market Growth Factor
Rising government rules for safety precautions in a dangerous environment
To prevent catastrophic events that result in significant human casualties, governments throughout the globe have intensified their attention on workplace safety in risky places. Due to this, businesses are now subject to stringent regulations that must be adhered to in order to protect the wellbeing of site workers. The adoption of hazardous area systems is anticipated to be significantly impacted by this trend on a worldwide level.
Changeover to linked lighting solutions from conventional lighting systems is fast
Due to the many benefits given by connected lighting solutions, including enhanced energy efficiency, improved brightness, and long-term cost savings, there has been a fast movement in recent years from conventional lighting systems to linked lighting solutions. Users of connected lighting may remotely control the lights based on their needs to save energy consumption. Users get information on the patterns of light consumption via the integrated sensors and automatic control mechanisms, which improves the lighting experience.
Market Restraining Factor
The absence of unified standards for equipment used in hazardous areas
Hazardous area equipment producers and end users must adhere to the same requirements to prevent workplace catastrophes. International Electrotechnical Commission (IEC) and National Electrical Code (NEC), both of which are issued by the National Fire Protection Association, are the two main organisations that supply hazardous area standards globally (NFPA). Although the fundamentals of explosion safety are the same around the globe, North America, Asia Pacific, and Europe follow different specific rules. The absence of widely accepted open standards is causing uncertainty in the sector
Product Outlook
Based on the product, the hazardous area equipment market is classified into Cable Glands & Accessories, Measurement Devices, Control Products, Lighting Product, Alarm Systems, and Motors. The Alarm System segment had the significant revenue share in the market in 2021. In ATEX and IECEx Zone 1 and Zone 2 hazardous environments, hazardous area sounders are used to warn of potentially harmful circumstances or to convey instructions.
Industry Outlook
Based on Industry, the hazardous area equipment market is divided into oil & gas, chemical & pharmaceuticals, food & drinks, energy & power, mining, and others. The oil and gas segment generated the largest market share for hazardous area equipment in 2021. The exploration and extraction of shale gas and oil have boosted the use of hazardous area equipment, such as measuring tools, control goods, motors, alarm systems, and lighting items. As a result, the oil & gas category is anticipated to maintain its market-leading position through 2028.
Regional Outlook
Based on geography, the hazardous area equipment markets is divided into North America, Europe, Asia Pacific, and LAMEA. The North America region held the largest revenue share in 2021. Due to the fact that North America has become a worldwide hub for significant investments and commercial growth prospects, this region is likely to see an increase in the need for hazardous area equipment. Due to the presence of major market players like Rockwell (US), Honeywell (US), and Emerson (US), as well as the fact that many businesses are concentrating on the exploration and production of oil and gas assets in the area, the hazardous area equipment market in North America has experienced the fastest growth.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Honeywell International, Inc., Siemens AG, Emerson Electric Co., Rockwell Automation, Inc., Eaton Corporation PLC, R. STAHL AG, E2S Warning Signals, NHP Electrical Engineering Products Pty Ltd. and PATLITE Corporation
Scope of the Study
Market Segments covered in the Report:
By Product
• Cable Glands & Accessories
• Measurement Devices
• Control Products
• Lighting Product
• Alarm Systems
• Motors
By Industry
• Oil & Gas
• Food & Beverages
• Chemical & Pharmaceuticals
• Energy & Power
• Mining
• Others
By Geography
• North America
o US
o Canada
o Mexico
o Rest of North America
• Europe
o Germany
o UK
o France
o Russia
o Spain
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Singapore
o Malaysia
o Rest of Asia Pacific
• LAMEA
o Brazil
o Argentina
o UAE
o Saudi Arabia
o South Africa
o Nigeria
o Rest of LAMEA
Companies Profiled
• ABB Group
• Honeywell International, Inc.
• Siemens AG
• Emerson Electric Co.
• Rockwell Automation, Inc.
• Eaton Corporation PLC
• R. STAHL AG
• E2S Warning Signals
• NHP Electrical Engineering Products Pty Ltd.
• PATLITE Corporation
Unique Offerings
• Exhaustive coverage
• Highest number of market tables and figures
• Subscription based model available
• Guaranteed best price
• Assured post sales research support with 10% customization free
Read the full report: https://www.reportlinker.com/p06412046/?utm_source=GNW
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