Hazardous Area Equipment Market by Product (Cable Glands & Accessories, Measurement Devices, Control Products, Alarm Systems, Motors, Lighting Products), Industry (Oil & Gas, Chemical & Pharmaceutical, Food & Beverage), Region - Global Forecast to 2028
The hazardous area equipment market is projected to grow from USD 10.5 billion in 2023 to USD 14.1 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.1% from 2023 to 2028.
Hazardous area cable glands & accessories is to account for the larger share of the hazardous area equipment market throughout the forecasted period.
Hazardous area cable glands & accessories is to account for the larger share of the hazardous area equipment market throughout the forecasted period. Cable glands are widely used in every industry across diverse applications. Cable glands used in hazardous locations are intended to provide the safe connection of suitable cables to enclosures, maintaining the explosion protection and ingress properties of equipment, and should meet requirements such as mechanical retention, strain relief, and earth continuity. Increasing need for mechanical retention, strain relief, and earth continuity drive the demand for hazardous area cable glands & accessories.
Hazardous area equipment market for oil & gas industry is accounted for the largest share through the forecasted period.
Hazardous area equipment market for oil & gas industry accounted for the largest share through the forecasted period. Hazardous area equipment is used for various industrial applications as a part of the emergency management system and as intrinsic safe equipment to protect the workplace.
Download PDF Brochure @
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=197346515
The environment in the oil & gas industry is highly prone to explosives, and the use of equipment in this environment needs to be explosive-protected with all the necessary built-in safety standards. Hazardous area equipment avoids any internal explosion that might occur because of combustible gases, vapors, or high temperature present in the environment, as well as can survive an external explosion.
The market has been segmented into the US, Canada, and Mexico. The region has emerged as a global focal point for large investments and business expansion opportunities. The fastest growth of the hazardous area equipment market in North America can be attributed to the growing opportunities for hazardous area equipment in industries such as oil & gas, food & beverage, and chemical & pharmaceutical.
The key players in the hazardous area equipment market include
• ABB Ltd. (Switzerland),
• Siemens AG (Germany),
• Eaton Corporation (Ireland),
• Rockwell Automation (US),
• Honeywell International Inc. (US),
• Emerson Electric Co. (US),
• Patlite Corporation (Japan),
• R. STAHL AG (Germany).
Know more @
https://www.marketsandmarkets.com/Market-Reports/hazardous-area-equipment-market-19
7346515.html
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market
(GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge
AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430 Northbrook, IL 60062
USA : 1-888-600-6441
