Global Hazardous Area Equipment Market Report 2023: Rising Demand for Industrial Safety Bolsters Growth

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May 17, 2023, 19:00 ET

DUBLIN, May 17, 2023 /PRNewswire/ -- The "Hazardous Area Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global hazardous area equipment market 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 hazardous area equipment market is expected to reach $11.92 billion in 2027 at a CAGR of 7.3%.

Major players in the hazardous area equipment market are PATLITE Corporation, Eaton Corporation PLC., Rockwell Automation, Emerson Electric Co., Siemens AG, NHP Electric Engineering Products, Honeywell International Inc., E2S Warning Signals, ABB Ltd., STAHL AG, Federal Signal Corporation, Potter Signal Co., Tomar Electronics Inc., WERMA Signaltechnik GmbH + Co. KG, and Mitsubishi Electric Corporation.

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Hazardous area equipment refers to the electrical equipment that is used within hazardous areas that have an operational temperature band or limit. Hazardous area equipment is installed in hazardous areas to prevent an explosion and ensure the safety of people.

The major products of hazardous area equipment are cable glands and accessories, process instruments, industrial controls, motors, strobe beacons, and lighting. Cable glands and accessories are used as wiring for electrical, instrumentation and control, and automation systems, such as lighting, power, data, and telecoms. The major services involved in hazardous area equipment are wired and wireless and are by several end-user industries such as oil and gas, chemical and pharmaceutical, food and beverages, energy and power and mining.

The hazardous area equipment market research report is one of a series of new reports that provides hazardous area equipment market statistics, including hazardous area equipment industry global market size, regional shares, competitors with a hazardous area equipment market share, detailed hazardous area equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hazardous area equipment industry. This hazardous area equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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.

North America was the largest region in the hazardous area equipment in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the hazardous area equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Rising demand for industrial safety is expected to propel the growth of the hazardous area equipment market going forward. Industrial safety refers to a collection of safety procedures, guidelines, and rules to safeguard the environment, workplace, and workers from danger.

To provide a secure workplace and long-lasting business operations, it serves as a corrective action that is periodically assessed and approved by safety specialists. Hazardous area equipment is installed in hazardous areas to prevent an explosion and ensure the safety of people. Thus, the use of hazardous area equipment for industrial safety will increase the demand for hazardous area equipment.

For instance, in July 2022, according to a report shared by the Centers for Disease Control and Prevention, a US-based national public health agency, in 2020, nearly 196,140 accidents involving objects and machinery required time off work owing to their severity and 1,038 American workers lost their lives in work-related car accidents in 2020 (22% of all fatalities).

Also, emergency rooms will have treated 1.8 million workers who suffered work-related injuries. Therefore, the rising demand for industrial safety is driving the growth of the hazardous area equipment market.

Key Topics Covered:

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
4.1. COVID-19 Impact On Hazardous Area Equipment Market
4.2. Ukraine-Russia War Impact On Hazardous Area Equipment Market
4.3. Impact Of High Inflation On Hazardous Area Equipment Market

5. Hazardous Area Equipment Market Size And Growth
5.1. Global Hazardous Area Equipment Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Hazardous Area Equipment Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. Hazardous Area Equipment Market Segmentation
6.1. Global Hazardous Area Equipment Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Cable Glands And Accessories
Process Instruments
Industrial Controls
Motors
Strobe Beacons
Lighting

6.2. Global Hazardous Area Equipment Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Wired
Wireless

6.3. Global Hazardous Area Equipment Market, Segmentation By Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Oil And Gas
Chemical And Pharmaceutical
Food And Beverages
Energy And Power
Mining

7. Hazardous Area Equipment Market Regional And Country Analysis
7.1. Global Hazardous Area Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Hazardous Area Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/z6arf5

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