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Hazardous Area Equipment Market by Product, Connectivity Service, Industry, and Geography - Global Forecast to 2022

Hazardous Area Equipment Market: Global Forecast until 2022

  • April 2017
  • 170 pages
  • ID: 4883660
In this report:
The food & beverage, energy & power, and mining segments are projected to be valued at USD ##.## million, USD ##.## million, and USD ##.## million, respectively, by 2022; wherein the energy & power is expected to register the highest CAGR of ##.##% between 2017 and 2022
The market for wireless services was valued USD ##,##.## million in 2016 and is expected to grow at the highest CAGR of ##.##% to reach USD ##,##.## million by 2022.

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"Increased usage of cable glands and accessories across diverse explosion-prone sectors is fueling the rise of the hazardous area equipment market"

The hazardous area equipment market was estimated at ~$6.2B in 2016 and is forecasted to reach ~$8.8B by 2022, at a compound annual growth rate of ~5.7 percent during the forecast period. Wide usage of cable glands for almost all processes and equipment in hazardous areas is resulting in the increasing adoption of cable glands.

Cable glands are greatly influenced by the hazardous area equipment market; these are most widely used products by almost every sector in the modern era and are posing opportunities for the industry actors to invest in these products. The increasing focus on growing safety measures in sectors, especially process and cooling, is creating a good demand for flame- and explosion-proof hazardous area equipment. Therefore, the overall hazardous area equipment market is anticipated to witness a steady increase in the next years. Nevertheless, the main factor that is limiting the increase of this market is the usage of wireless hazardous area equipment, which may cause ignition on industry premises due to electromagnetic waves emitted by them. Also, high maintenance costs combined with hazardous area equipment act as a restraint for the industry to grow further.

"The hazardous area equipment market for the oil & gas market is anticipated to rise at an important rate during the outlook period"

The hazardous area equipment market for the oil & gas sector held the biggest industry size in 2016 and is anticipated to grow at the highest compound annual growth rate (CAGR) between 2017 and 2022. Fueled by the increasing application of these hazardous area equipment including industrial controls, process instruments, motors, strobe beacons, lighting products, and so on in the exploration and extraction of shale gas and oil; this industry segment is likely to retain its leading position until 2022.

"RoW and North America (NA) are the main sectors for hazardous area equipment"

The RoW area consists of the Middle East area, African continent, and Latin America area is forecasted to hold the biggest share and the sector in this area is forecast to grow at the high during the forecast period. The Middle East (ME) and African continent are the main countries driving the increase of the hazardous area equipment market in RoW. A significant number of prominent oil & gas and mining sectors, which are highly prone to explosive environments, are based in North America continent and Asia-Pacific. This is one of the main factors driving the rise of the hazardous area equipment market in RoW. On the other hand, North America (NA) followed the RoW market in 2016, owing to main hazardous area equipment manufacturing firms based out here; this area is forecast to grow further in the next years of the hazardous area equipment market.

In the process of finding out and checking the market value for various segments and sub-segments collected by secondary research, extensive primary audit sessions have been managed with main people in the hazardous area equipment market. The break-up of primary participants for the industry report has been shown below:

• By Company category: Tier 1 - 35 %, Tier 2 - 45.0 percent, and Tier 3 - 20.0 percent

• By Description: C-suite executives - 35.0 percent, Directors - 25.0 percent, and Others - 40.0 percent

• By Area: North America continent - 45.0 percent, Europe (EU) - 20.0 percent, Asia-Pac - 30.0 percent, and rest of the world - 5.0 percent

The report also profiles the top actors in the hazardous area equipment market and analyzes their market ranking. The main players decribed in this business report are Honeywell (NYSE:HON), PATLITE Corporation, Eaton Corporation Plc, Siemens (SIA), Emerson Electric (NYSE:EMR), NHP Electric Engineering Products, Rockwell Automation (NYSE:ROK), E2S Warning Signals, ABB Ltd. (NYSE:ABB), and R.STAHL AG, among others.

Segment Research

This market research classifies the hazardous area equipment market based on product type, connectivity service, market, and area. The study also offers the Porter's five forces analysis, and their respective impact on the hazardous area equipment; description of main drivers, industry restraints, opportunities, and possibilities pertaining to the market; value chain study; and industry ranking analysis.

Why Purchasing This Study Can Help You:

The analysis would benefit competitors/new sector entrants in this sector in these ways:

1. This document breaks down the hazardous area equipment market comprehensively and offers the closest industry size estimation for all sub-segments across different areas.

2. The market research benefits partners distinguish the pulse of the sector and offers them with the info on key market drivers, market restraints, opportunities, and alternatives for industry growth.

3. This industry report would benefit partners comprehend their players better and acquire additional insights to enhance their rank in the business sector. The competitive outlook section includes competitor landscape, launches of new product and advancements, alliances, and mergers and acquisitions.

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