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Global Hazardous Area Equipment Market To Register A Stout Growth By 2025

Global Hazardous Area Equipment Market, By Product (Cable Glands and Accessories, Lighting, Barrier Products, Industrial Controls, Display Products, Enclosures, Motors, Strobe Beacons, Sensor), By Connectivity (Wireless, Wired), By Industry (Oil & Gas, Chemical, Marine & Shipbuilding, Power & Energy, Metals & Mining, Pharmaceutical, Food & Beverage, Rubber & Plastics, Water & Waste Treatment, Military & Aerospace), By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2025

Global Hazardous Area Equipment Market is expected to reach USD 36,568.28 Million by 2025 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.

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The major factors driving the growth of this market are increasing industrial safety measures and technological advancements in led lighting solution. On the other hand time-consuming and expensive inspection and maintenance may hinder the growth of the hazardous area equipment market.

Market Segmentation: Global Hazardous Area Equipment Market

  • The global hazardous area equipment market is segmented based on product into ten notable segments display products, lighting products, barrier products, enclosures, cable glands and accessories, industrial controls, motors strobe beacons, sensors and others. Display products are further sub segmented into industrial PCs, operator, remote and terminals. Lighting products are further sub segmented into fixed lighting, portable lead-lights and other portable lighting. Barrier Products are further sub segmented into IS barriers- galvanic, IS barriers- Zener, I/O modules and fieldbus interface. Enclosures are further sub segmented into steel, aluminum and plastic. Others are further sub segmented into fire alarms/call points, speakers and tone generators, visual and audible combination units. In 2018, cable glands and accessories market is likely to dominate market in the forecast period.

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  • The global hazardous area equipment market is segmented based on connectivity into two notable segments wired and wireless. In 2018, wireless market will dominate the market. It is growing at the highest CAGR in the assessment period.
  • The global hazardous area equipment market is segmented based on industry into ten notable segments; chemical, food & beverage, marine & shipbuilding, metals & mining, military & aerospace, oil & gas industries, pharmaceutical, power & energy, rubber & plastics, water & waste and others. In 2018, the oil and gas market is estimated to dominate market with highest shares and rising with the highest CAGR.
  • The global hazardous area equipment market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market
  • Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.

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Key Drivers: Global Hazardous Area Equipment Market

Some of the major factors driving the market for global hazardous area equipment market are increasing industrial safety measures and technological advancements in led lighting solution are boosting the market growth. On the other hand, time-consuming and expensive inspection and maintenance may hamper the growth of the market.

Key Points: Global Hazardous Area Equipment Market

Honeywell International, Inc., is going to dominate the global hazardous area equipment market followed by ABB Ltd, Siemens Ag and Eaton Corporation PLC.

  • The product segment is dominating the global hazardous area equipment market.
  • Oil and gas segment is expected to grow with the highest CAGR of 7.3% in the forecast period 2018 to 2025.

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