Hazardous Area Equipment Global Business Report 2024 - Growing Importance of Drones in Ensuring Hazardous Area Safety


Dublin, March 28, 2024 (GLOBE NEWSWIRE) -- The "Hazardous Area Equipment - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.

The global market for Hazardous Area Equipment estimated at US$7 Billion in the year 2023, is projected to reach a revised size of US$11.6 Billion by 2030, growing at a CAGR of 6.6% over the analysis period 2023-2030.

Cable Glands & Accessories, one of the segments analyzed in the report, is projected to record 7.8% CAGR and reach US$3.5 Billion by the end of the analysis period. Growth in the Process Instruments segment is estimated at 6% CAGR for the next 8-year period.

The Hazardous Area Equipment market in the U.S. is estimated at US$1.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 7.4% over the analysis period 2023 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.4% and 5.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR.

Key Market Trends & Drivers

  • Increasing Emphasis on Adoption of Safety Measures in Industries Drives Focus onto Hazardous Area Equipment
  • Rise in Workplace Accidents in Hazardous Facilities Favors Market Growth
  • High Levels of Workplace Related Accidents Bring Renewed Emphasis on Hazardous Area Equipment
  • Industrial Safety Regulations Underpin Market Growth
  • Market to Gain from Rapidly Evolving Role of Industry 4.0 and 'Smart Factory' in the Global Industrial Landscape
  • Industrial IoT to Give Impetus to Market Expansion
  • Market to Benefit from Technology Advances in Lighting Systems and Increasing Use of LED Lighting Solutions in Hazardous Areas
  • Oil & Gas Sector: Hazardous Working Environment Enhances Significance of Safety Equipment
  • Sustained Reliance on Fossil Fuels and Ensuing Demand for Oil Bodes Well for Market Expansion
  • Chemical & Pharmaceutical Enterprises Rely on Safety Equipment to Ensure Workplace Safety
  • Presence of Gases & Vapors Increases Explosion Risk in Food & Beverage Facilities, Driving Demand for Safety Equipment
  • Technology Advancements Transform Hazardous Area Management
  • Product Advancements in Signaling Devices Space
  • Strobe Beacons: An Essential Component of Emergency Lighting Systems
  • Overriding Need to Protect Assets from Fire and Explosion Catalyzes Explosion-Proof Equipment Market
  • Hazardous Area Fire Alarms: Essential to Alert People during Emergencies
  • Cable Glands: Connecting Electrical Cables to Equipment
  • Hazardous Duty Sensors: Sensing Hazards at Sites
  • Hazardous Area Motors Emerge as Essential Components to Ensure Safe Operations
  • Process Instruments: Monitoring, Measuring & Controlling Processes
  • Venting, Suppression & Containment Systems Hold Significance for Dust Explosion Protection in Industrial Facilities
  • Dust Explosion Protection for Metal Processing Industry
  • Pressing Need to Ensure Employee Safety Fuels Growth in Hazardous Area Signaling Equipment Market
  • Focus on Intrinsic Safety in Diverse Industry Verticals to Intensify Growth of Global Hazardous Area Sensors Market
  • Advanced Heat Exchangers to Satiate Need for Effective Cooling of Electrical Systems in Hazardous Locations
  • Growing Importance of Drones in Ensuring Hazardous Area Safety
  • Hazardous Industrial Waste Emerges as a Key Cause of Environmental Pollution & Contamination
  • Evolving Regulations Pose Challenges

The report features profiles of 200+ featured companies. A selection of companies in the report includes:

  • ABB Ltd.
  • Banner Engineering Corporation
  • Eaton Corporation PLC
  • Emerson Electric Co.
  • Fike Corporation
  • Honeywell International Inc.
  • Patlite Corporation
  • Rockwell Automation, Inc.
  • Siemens AG
  • R. R. Stahl AG

Key Report Features

  • Full access to influencer engagement stats
  • Free access to digital archives & research platform. The proprietary platform is fully enabled to unlock creativity and market knowledge of domain experts worldwide in a cohesive and collaborative manner. The state-of-art tools bring world class market perspectives while protecting participants` privacy and identity. Numbers, statistics and market narrative in the report are based on fully curated insights shared by domain experts and influencers in this space.
  • Opportunity to engage with interactive questionnaires that come with real-time data simulator tools & bespoke report generation capabilities
  • Full client access to peer collaborative and interactive platform for cross-enterprise smart exchange of ideas
  • Complimentary report updates for one year
  • Competitor coverage with global market shares of major players
  • Player market presence analysis (Strong/Active/Niche/Trivial) across multiple geographies
  • Access to curated YouTube video transcripts of domain experts/influencer interviews, podcasts, press statements and event keynotes

Key Attributes:

Report AttributeDetails
No. of Pages830
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$7 Billion
Forecasted Market Value (USD) by 2030$11.6 Billion
Compound Annual Growth Rate7.5%
Regions CoveredGlobal



Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • What is a Hazardous Area?
  • Hazardous Area Classification for Flammable Gases and Vapors
  • Standards used for Hazardous Areas Classification
  • Hazardous Area Equipment: An Introduction
  • Global Market Prospects & Outlook
  • Competition
  • World Brands
  • Recent Market Activity
  • Hazardous Area Equipment - Global Key Competitors Percentage Market Share in 2023 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • High Levels of Workplace Related Accidents Bring Renewed Emphasis on Hazardous Area Equipment: Breakdown of Annual Work Related Fatalities (In Thousands) Worldwide by Region
  • Sustained Reliance on Fossil Fuels and Ensuing Demand for Oil Bodes Well for Market Expansion: Global Oil Production (Million bpd) by Region for the Years 2011, 2013, 2015, 2017, 2019, 2021 and 2023
  • Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2023
  • Global Primary Energy Consumption by Source (in %) for 2018 and 2040
  • Global Oil & Gas E&P Industry Spending (2015-2023)
  • Breakdown of Global E&P Spending (in %) by Supply Segment for the Year 2023
  • Global Strobe Beacons Market by Type (in %) for 2023

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

  • United States
  • Canada
  • Japan
  • China
  • Europe
  • France
  • Germany
  • Italy
  • United Kingdom
  • Spain
  • Russia
  • Rest of Europe
  • Asia-Pacific
  • Australia
  • India
  • South Korea
  • Rest of Asia-Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East
  • Iran
  • Israel
  • Saudi Arabia
  • United Arab Emirates
  • Rest of Middle East
  • Africa

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/ljhh7y

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Attachment

 
Hazardous Area Equipment Market

Coordonnées