The Hazardous Area Equipment Global Market Report 2023, provides comprehensive information on the hazardous area equipment market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global hazardous area equipment market size is expected to grow from $8.35 billion in 2022 to $9.00 billion in 2023 at a compound annual growth rate (CAGR) of 7.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global hazardous area equipment market size is expected to reach $11.92 billion in 2027 at a CAGR of 7.3%.
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Technological advancements have emerged as a key trend gaining popularity in the hazardous area equipment market. Major companies operating in hazardous area equipment are focused on innovating new technologies to sustain their position in the market. In February 2022, i.safe MOBILE GmbH, a Germany-based manufacturer of mobile communication equipment for use in hazardous areas, launched the IS-TC1A.1, an ex-protected thermal imaging camera. This equipment is designed for predictive maintenance in hazardous areas. Based on Seek Thermal technology, the explosion-proof thermal imaging camera IS-TC1A.1 enables industrial users in risky areas to monitor industrial and maintenance processes and spot danger signs before they become serious. Predictive maintenance aims to save energy costs, improve process dependability, and prevent unscheduled equipment downtime.
The hazardous area equipment market is segmented:
1) By Product: Cable Glands And Accessories, Process Instruments, Industrial Controls, Motors, Strobe Beacons, Lighting
2) By Service: Wired, Wireless
3) By Industry: Oil And Gas, Chemical And Pharmaceutical, Food And Beverages, Energy And Power, Mining
Top Major Players:
PATLITE Corporation
Eaton Corporation PLC
Rockwell Automation
Emerson Electric Co
Siemens AG
North America was the largest region in the hazardous area equipment in 2022.
The table of contents in TBRC’s hazardous area equipment market report includes:
1. Executive Summary
2. Hazardous Area Equipment Market Characteristics
3. Hazardous Area Equipment Market Trends And Strategies
4. Hazardous Area Equipment Market – Macro Economic Scenario
5. Hazardous Area Equipment Market Size And Growth
………………………………………………………
26. Africa Hazardous Area Equipment Market
27. Hazardous Area Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Hazardous Area Equipment Market
29. Hazardous Area Equipment Market Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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