This new industry survey by skilled analysts at Fact.MR predicts the hazardous area equipment market to grow from a net worth of US$ 6.5 billion in 2022 to US$ 8.7 billion by the end of 2026.
Industrialization has increased exponentially on a global scale and has subsequently spawned the need for new industrial safety norms. Use of hazardous chemicals, flammable substances, and explosion-prone components has increased in industries, and this has driven demand for hazardous area equipment across the world.
Government mandates to ensure occupational safety in hazardous environments will also further advance hazardous area equipment market potential. However, high costs of installation are expected to restrict adoption of hazardous area systems to a certain extent over the coming years.
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Hazardous area equipment manufacturers are focusing on partnership and collaboration agreements to enhance their business scope.
· In December 2020, Honeywell, a leading name in the hazardous area equipment marketplace, announced the acquisition of Sine Group, an Australia-based SaaS technology company. This acquisition will bolster Honeywell’s connected building offerings and provide better safety.
Key Takeaways from Market Study
· The hazardous area equipment market stands at a net worth of US$ 6.5 billion in 2022.
· By the end of 2026, the market for hazardous area systems is projected to reach US$ 8.7 billion.
· Demand for hazardous area equipment is anticipated to increase at a CAGR of 6.5% from 2022 to 2026.
· Increasing focus on occupational safety and strict government laws to ensure the same are expected to prominently drive hazardous area device sales throughout the forecast period (2022-2026).
· High costs of hazardous area equipment to have hindering effect on global market growth.
· The U.S. hazardous area equipment industry holds a market value of US$ 1.7 billion in 2022.
· The market for hazardous area equipment in China is projected to attain a net worth of US$ 799 million by 2026 while expanding at a high CAGR of 7.4%.
“Rapid industrialization and increasing focus on work safety to drive demand for hazardous area equipment on a global level,” says a Fact.MR analyst
Winning Strategy
Hazardous area equipment manufacturers are focusing on mergers, acquisitions, partnerships, and collaborations to enlarge their market presence and boost sales. Government mandates to ensure occupational safety are also expected to act in favor of hazardous area equipment vendors, and will help them maximize their revenue generation capacity.
Hazardous area system suppliers will also adopt organic and inorganic growth strategies to gain a competitive edge and increase their market presence across regions in the world.
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UpMarketResearch offers a latest published report on “Global Hazardous Area Equipment Market Industry Analysis and Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report.
It presents a comparative detailed analysis of all the regional and major player segments, offering readers a better knowledge of areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the global market.
Hazardous Area Equipment market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period.
The numerical data is backed up by statistical tools such as SWOT analysis, BCG matrix, SCOT analysis, PESTLE analysis and so on.
The statistics are represented in graphical format for a clear understanding on facts and figures.
The generated report is firmly based on primary research, interviews with top executives, news sources and information insiders.
Hazardous Area Equipment Market, By Product (Process Instruments, Industrial Controls, Motors, Strobe Beacon, Lighting Products, Sensors), By Connectivity Services (Wired, Wireless), By End-User (Automotive and aerospace, Government and defense, Steel & Metal, Oil & Gas, Chemical & Pharmaceutical, Food & Beverages, Energy & Power, Mining) - Forecast 2023Hazardous Area Equipment Global Market - OverviewHazardous area equipment refers to the devices to be used to safeguard living and financial losses in the hazards environment.
There are numerous dangerous elements scattered around especially in industries such as Oil & Gas, Chemical & Pharmaceutical, Energy & Power, and Mining.
Most of the accidents are caused by human error and hence, safeguarding human lives is an utmost priority in any manufacturing unit or industry.Hazardous area equipment devices are designed to limit the risks for accident or injury at certain points.
These safety technologies reduce unscheduled downtime and mean time to repair (MTTR) keeping workers safe and streamlining the lockout and tag-out procedures.Get Free Sample Report @ https://www.marketresearchfuture.com/sample_request/3680Resultantly, an increasing number of companies are adopting these safety systems.
Besides technological advancements that have brought about improvements in safety devices such as safety light curtains with the integrated digital indicators have escalated the market growth globally.Recognizing the ascending graph of the growth the market is climbing today; Market Research Future (MRFR) in its recently published study report confirms that the global Hazardous Area Equipment Market will touch a valuation of approximately 8.48 Bn.
USD by 2023, registering about 7.2% CAGR throughout the forecast period (2017 and 2023).Key PlayersThe prominent players in the Hazardous Area Equipment Market are –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) and Emerson Electric Co. (US) among others.Hazardous Area Equipment Market - SegmentationThe analysis has been segmented into four key dynamics for the better scope: -By Product: Process Instruments, Industrial Controls, Motors, Strobe Beacon, Lighting Products, and Sensors among others.By Connectivity Services: Wired and WirelessBy End-user: Automotive & Aerospace, Government & Defense, Steel & Metal, Oil & Gas, Chemical & Pharmaceutical, Food & Beverages, Energy & Power, Mining and others.By Regions: Europe, North America, Asia Pacific, and the Rest-of-the-World.Hazardous Area Equipment Global Market - Regional AnalysisGlobally, Europe being a leading player in the automation accounts for the largest market for hazardous area equipment.
Hazardous Area Equipment market is expected to grow at a healthy CAGR of 4.20% in the forecast period 2020 to 2027To get acquainted with market landscape, brand awareness, latest trends, possible future issues, industry trends and customer behaviour, this finest Hazardous Area Equipment market research report is very necessary.
Moreover, the report contains market definition, currency and pricing, market segmentation, market overview, premium insights, key insights and company profile of the key market players.
Several market drivers, market restraints, along with opportunities and challenges are taken into consideration under market overview which gives valuable insights to businesses for taking right actions.
Businesses can surely rely upon this first-class market report to accomplish an utter success.All the data and info is presented in a form that explains various facts and figures to the business.
In this Hazardous Area Equipment market report, industry trends have been described on the macro level which makes it easy to outline market landscape and probable future issues.
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Hazardous Area Signaling Equipment is a comprehensive range of signaling products designed for use in areas where the prevalence of harsh environmental conditions and where there is a risk of explosion due to the presence of flammable atmospheres.
The major product in this report include Strobe & Beacons, various type signal Lights, Bells & Horns, Fire Alarm/Call Points, Speakers & Tone Generators and Visual Combination Units used in the Oil & Gas, Chemical & Pharmaceutical, Food & Beverages, Energy & Power, Mining and other industries.Hazardous Area Signaling Equipment was valued at USD 1613.61 million in 2017 but it is gaining growth year over year as the work environments are become more challenging.Hazardous Area Signaling Equipment market for the oil & gas industry held the largest market size in 2017 and is expected to grow at the highest CAGR.Download FREE Sample of this Report @ http://bit.ly/2Rrf3TN The Hazardous Area Signaling Equipment market was valued at 1610 Million US$ in 2018 and is projected to reach 2170 Million US$ by 2025, at a CAGR of 3.8% during the forecast period.
In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Hazardous Area Signaling Equipment.
This report presents the worldwide Hazardous Area Signaling Equipment market size (value, production and consumption), splits the breakdown (data status 2014-2019 and forecast to 2025), by manufacturers, region, type and application.This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
The following manufacturers are covered in this report:Patlite CorporationFederal Signal CorporationWerma Signaltechnik GmbHEaton Corporation PLC (Cooper Industries)Rockwell Automation, Inc.Potter Electric Signal Company, LLCHoneywell (Novar GmbH)R. Stahl AGSchneider ElectricE2S Warning SignalsTomar Electronics, IncMoflash Signalling Ltd Hazardous Area Signaling Equipment Breakdown Data by TypeStrobe and BeaconsOther Signal LightsBells and HornsFire Alarm/Call PointsSpeakers and Tone GeneratorsVisual & Audible Combination Units Hazardous Area Signaling Equipment Breakdown Data by ApplicationOil and GasChemical and PharmaceuticalFood and BeveragesEnergy and PowerMiningOthers Hazardous Area Signaling Equipment Production by RegionUnited StatesEuropeChinaJapanOther Regions Hazardous Area Signaling Equipment Consumption by RegionNorth AmericaUnited StatesCanadaMexicoAsia-PacificChinaIndiaJapanSouth KoreaAustraliaIndonesiaMalaysiaPhilippinesThailandVietnamEuropeGermanyFranceUKItalyRussiaRest of EuropeCentral & South AmericaBrazilRest of South AmericaMiddle East & AfricaGCC CountriesTurkeyEgyptSouth AfricaRest of Middle East & Africa The study objectives are:To analyze and research the global Hazardous Area Signaling Equipment status and future forecast?involving, production, revenue, consumption, historical and forecast.To present the key Hazardous Area Signaling Equipment manufacturers, production, revenue, market share, and recent development.To split the breakdown data by regions, type, manufacturers and applications.To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.To identify significant trends, drivers, influence factors in global and regions.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
In this study, the years considered to estimate the market size of Hazardous Area Signaling Equipment :This report includes the estimation of market size for value (million USD) and volume (K Units).
