Hazardous Area Equipment Market Global Industry Research Report 2017 of 169 pages explores Global Hazardous Area Equipment Market reaching $6.24 billion by 2022. Report provides Hazardous Area Equipment Market Size, Share, Manufacturers, Statistics, and Opportunities Forecast to 2022. The global Hazardous Area Equipment market is estimated to grow at a CAGR of 5.74% between 2017 and 2022.
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Hazardous Area Equipment Company analysed in report are 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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“The Hazardous Area Equipment market is estimated to witness significant growth between 2017 and 2022”
Hazardous Area Equipment market is driven by factors such as Wide usage of cable glands for almost all processes and equipment in hazardous areas is resulting in the growing adoption of cable glands. 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 growing focus on increasing safety measures in industries, especially process and cooling, is creating a good demand for flame- and explosion-proof hazardous area equipment.
“RoW and North America are the major markets for hazardous area equipment”
The RoW region consists of the Middle East, Africa, and Latin America is expected to hold the largest share and the market in this region is expected to grow at the high during the forecast period. The Middle East and Africa are the major countries driving the growth of the hazardous area equipment market in RoW.
A significant number of prominent oil & gas and mining industries, which are highly prone to explosive environments, are based in North America and APAC. This is one of the major factors driving the growth of the hazardous area equipment market in RoW.
On the other hand, North America followed the RoW market in 2016, owing to major hazardous area equipment manufacturing companies based out here; this region is expected to grow further in the coming years of the hazardous area equipment market.
“The hazardous area equipment market for the oil & gas industry is expected to grow at a high rate during the forecast period”
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 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 till 2022.
Research Coverage: This research report categorizes the hazardous area equipment market on the basis of product type, connectivity service, industry, and geography. The report also provides the Porter’s five forces analysis, and their respective impact on the hazardous area equipment; description of major drivers, restraints, challenges, and opportunities pertaining to the market; value chain analysis; and market ranking analysis.
This report segments the hazardous area equipment market comprehensively and provides the closest market size estimation for all sub segments across different regions. The report helps stakeholders understand the pulse of the market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.