Hazardous Area Equipment Market, By Product (Process Instruments, Industrial Controls, Motors, Strobe Beacon, Lighting Products, Sensors), By Connectivity Services (Wired, Wireless)
The study reveals that Hazardous Area Equipment is trending in North America region. The global Hazardous Area Equipment Market is expected to witness a steady growth in the coming years.
However, the key factor that is limiting the growth 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. Moreover, the high maintenance costs associated with hazardous area equipment act as a restraint for the market to grow further.
The study indicates that Cable glands are greatly influenced by the hazardous area equipment market. These are most widely used products by almost every industry in the modern era and are posing opportunities for the industry players to invest in these products.
The Hazardous Area Equipment Market is growing rapidly over 7.2% of CAGR and is expected to reach at USD $~8.48 Billion by the end of forecast period.
Hazardous Area Equipment Market Players:
- Siemens AG (Germany)
- NHP Electric Engineering Products (Australia)
- Honeywell International Inc. (US)
- PATLITE Corporation (US)
- Eaton Corporation Plc (US)
- Rockwell Automation (US)
- E2S Warning Signals (US)
- ABB Ltd. (Switzerland)
- R.STAHL AG (Germany)
- Emerson Electric Co. (US)
Hazardous Area Equipment Market Segmentation
The Hazardous Area Equipment Market has been segmented on the basis of Product, Connectivity Service, end -users and region. The Hazardous Area Equipment market is highly centralized by owing to the presence of many small regional suppliers and large multinational vendors.
In the forecast period, the established Hazardous Area Equipment vendors will acquire smaller vendors to expand their product and services and will boost the market shares. The market is also characterized by the presence of numerous well-diversified international and regional vendors.
Market Research Analysis:
On geographic basis, Hazardous Area Equipment market is studied in different regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that North America region is leading with largest market share growth in the Hazardous Area Equipment market.
In this market, Europe is to be estimated to be the largest market for Hazardous Area Equipment during the forecast period. The Middle East and Africa are the major countries driving the growth of the hazardous area equipment market in Rest of the world.
The Rest of the World region, such as Middle East, Africa, and Latin America market in 2016 were owing to major hazardous area equipment manufacturing companies based in that region and is expected to grow further in the coming years of the hazardous area equipment market.
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- Raw material providers
- Original equipment manufacturers
- Semiconductor component suppliers
- Hazardous area equipment distributors
- Software solution providers
- Connectivity Service providers for hazardous equipment
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
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