Hazardous Area Equipment Market is Projected to Hit US$13.96 Billion by 2027 | Says IndustryARC
Market Research Reports, Business Consulting Services & Analytics
The increasing number of industries where such equipment plays a vital role is analyzed to drive the growth of the hazardous area equipment market.
HYDERABAD, TELANGANA, INDIA, January 13, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Hazardous Area Equipment Market is estimated to reach $13.96 billion by 2027, witnessing a CAGR 20.53% from 2022 to 2027. Hazardous area equipment refers to some products that can minimize the damage from the incidents like fire or the ability to perform optimally in extreme environments. It includes several products ranging from cable glands and accessories, control panels, buttons, to lighting, strobe beacons. The demand for hazardous area equipment is driven by the process industries, where the functions of this equipment are necessary to continue, despite the high heat or radiation or detrimental substances. The report offers an extensive analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=505344
Key Takeaways:
This IndustryARC report on the Hazardous Area Equipment Market highlights the following areas –
• The growing focus on increasing safety measures across various industries, especially process and cooling industries is analysed to significantly drive the Hazardous Area Equipment Market during the forecast period 2022-2027.
• Cable glands and accessories robotics is analysed to hold highest share 21.47% in 2021 owing to the increasing importance in all the process-oriented industries for the equipment and environmental cabling purposes.
• Oil & Gas industry is expected to hold the highest market share 28.11% in the forecast period owing to the maximum exposure to the hazardous areas which requires majority of the equipment.
• Asia-Pacific is analysed to hold the highest share of 30% in 2021 owing to the availability of various end-use industries with huge adoption of hazardous area equipment.
Segmental Analysis:
By Product:
By Product, the Hazardous Area Equipment Market Report is segmented into Cable Glands and Accessories, Industrial Controls, Process Instruments, Strobe Beacons, Lighting, Fire Alarms/Call Points, Sensors, Bells and Horns, Visual & Audible Combination Units and Others. Cable Glands and Accessories segment is analysed to hold highest share 21.47% in 2021 owing to the increasing importance in all the process-oriented industries for the equipment and environmental cabling purposes.
By End Use Industry:
By End-use Industry, the Hazardous Area Equipment Market Report is segmented into Oil & Gas, Chemical & Pharmaceutical, Food & Beverage, Energy & Power, Water & Waste Treatment, Mining & Metal and Others. Oil & Gas sector is analysed to hold the highest share 28.11% during the forecast period 2022-2027 owing to the maximum exposure to the hazardous areas which requires majority of the equipment.
By Geography:
Asia-Pacific is analysed to be the major region with a share of 30% in 2021 for the Hazardous Area Equipment Market owing to the availability of various end-use industries with huge adoption of hazardous area equipment. With the availability of the world’s largest oil & gas refinery in the world in this region which exists in India tend to possess huge adoption of hazardous area equipment.
Click on the following link to buy the Hazardous Area Equipment Market Report:
https://www.industryarc.com/reports/request-quote?id=505344
Competitive Landscape:
The top 5 players in the Hazardous Area Equipment Industry are -
1. ABB Ltd.
2. E2S Warning Signals
3. Eaton Corporation PLC (Cooper Industries)
4. Emerson Electric Co.
5. Federal Signal Corporation
Click here to browse the complete report summary:
https://www.industryarc.com/Research/Hazardous-Area-Equipment-Market-Research-505344
Why Choose IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.
Related Reports:
A. Explosion Proof Equipment Market – Forecast (2021 - 2026):
https://www.industryarc.com/Report/109/Explosion-Proof-Equipment-Systems-Market-Report.html
B. Mechanical Explosion Proof Equipment Market – Forecast (2021 - 2026):
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