Hazardous Area Equipment Market Report with Global Regions, Type, Applications and Forecast 2022

1. Hazardous Area Equipment Market Report with Global Regions, Type, Applications and Forecast 2022 “The Hazardous Area Equipment Market was valued at USD 6.24 Billion in 2016 and is expected to reach USD 8.82 Billion by 2022, at a CAGR of 5.74% during the forecast period.” The Hazardous Area Equipment Market was valued at USD 6.24 Billion in 2016 and is expected to reach USD 8.82 Billion by 2022, at a CAGR of 5.74% during the forecast period. The growth of this market is being propelled by the growing focus on industry safety measures and rise in the usage of LED lighting solutions for hazardous and safe areas. The market for hazardous area equipment has been segmented into product types, connectivity services, industries, and geographical regions. Cable glands and accessories have been accounting for a significant share of the hazardous area equipment market since last few years, owing to the increasing importance in all the process-oriented industries for the equipment and environmental cabling purposes. The oil & gas industry accounted for the largest share of the overall hazardous area equipment. The hazardous area equipment for the oil & gas industry is expected to grow at a high rate between 2017 and 2022. The need for high-performance hazardous area equipment that can operate efficiently in a variety of challenging environ-ments is driving the demand for these products in the oil & gas industry. The wireless connectivity services segment is expected to hold a major market share during the forecast period. The growth of the wireless services segment is especially attributed to its lower installation cost, cablefree environment, requirement of reduction in space and weight, and so on. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=197346515

2. 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. Thus, the hazardous area equipment market is expected to grow at a steady rate in the next five years. However, the key factor which is limiting the growth of the hazardous area equipment is that the wireless hazardous area equipment act as a source of ignition in hazardous areas. In addition, manufacturing hazardous area equipment that can operate in wide areas and overcome noise is the key challenges for the industry players. 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. Request Sample Copy of this Market Research @ https://www.marketsandmarkets.com/requestCustomization.asp?id=197346515 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.

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