Intrinsically Safe Equipment Market 2019 Leading Growth Drivers, Emerging Trends, Industry Size, Share Top Players: PEPPERL+FUCHS, R. Stahl, Fluke, Omega, Rae Systems, Eaton and Cordex Instruments

The global intrinsically safe equipment market was valued at USD 4.47 billion in 2017, and is expected to reach USD 7.18 billion by 2023, registering a CAGR of 8.21 %, over the forecast period (2018 - 2023). The scope of the report includes insights on the solutions offered by major players, including providers of hardware and associated professional services. The regions considered in the scope of the report include North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The study also emphasizes on segmentation by zone. Intrinsic safety refers to the measures as well as materials put in place to prevent explosions in potentially hazardous environments, caused either by an electric spark or dissipation of thermal energy. Intrinsically safe equipment prevents catastrophic occurrences by maintaining the electrical and thermal energy of the apparatus at optimum in potentially hazardous environments.

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Factor Driving the Intrinsically Safe Equipment Market
Ensuring safety while handling hazardous substances in industrial areas has been a major concern for all stakeholders. In the wake of such related accidents in the oil & mining sector, government agencies and various trade bodies in all major economies have urged for stringent regulations. The certifying bodies for intrinsically safe equipment mainly include Underwriters Laboratories, Canadian Standards Association, National Fire Protection Agency, and Mine Safety and Health Administration. The regulations developed by these organizations are centered on the use of intrinsically safe equipment across all industry verticals. All the major electrical product manufacturers have revamped their operations to account for changes in safety regulations.
Industrial plants and mining refineries have invested time and resources in safety equipment to protect their workforce and manufacturing units from any unwanted catastrophic incidences. Organizations like IECEx, NEC/CEC, and OSHA have played a major role in prescribing safety standards and operational regulations. Regulation is usually imposed by a governmental agency; trade units must comply with the prescribed regulations while standards are the desirable mode of operations and are not strictly enforced due to differences in compliance frameworks around the world. In the United Kingdom, the Dangerous Substances and Explosive Atmospheres regulation (DSEAR) has been commissioned to prescribe safety regulations for industrial areas in a potentially hazardous environment.
To create better awareness among all stakeholders in the intrinsically safe equipment market, regulatory frameworks and standards are periodically updated to take cognizance of changes in the composition of hazardous substances and to remain relevant in a highly dynamic environment.

Key Developments in the Market
• November 2017 - PEC-EX is the latest software module R. STAHL introduced exclusively for the plant managers working in the explosion-protected plants. The primary objective of this solution is to optimize the planning execution, and documentation of the inspections and tests conducted periodically in a plant. PEC is the ingenious innovation of Plant Engineering Center (PEC) software company AGU in collaboration with R. STAHL, their global sales partner.
• November 2017 - R. STAHL will fit their Thin Clients for zone 1, zone 2, and safe areas with their new, proprietary, industrial-grade v5 firmware. It is based on Windows 10 IoT Enterprise as the operating system and, as a closed system, ensures extremely tough protection against unauthorized access. In addition to its high degree of security, the firmware is very user-friendly and features comprehensive support of modern automation data communication within the framework of the Industrial Internet of Things.
• January 2016 - STAHL and Steute have established a strategic partnership in Brazil. After a long-term business relationship in Germany, the two companies are working together in Brazil as of 2016 to enlarge their product portfolio and to offer a one-stop-shop with excellent customer service.

The major players include –
PEPPERL+FUCHS, R. STAHL, FLUKE, OMEGA, RAE SYSTEMS, EATON, AND CORDEX INSTRUMENTS, amongst others

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Hazardous Conditions and its Classification as per Industry Norms
Class I locations/hazardous areas contain various flammable gases or vapors in quantities sufficient to pose the risk of explosion or ignition; examples include compounds of hydrogen and carbon that requires very little oxygen to ignite and explode. Hydrocarbons such as acetone and ether serve as potentially flammable liquids due to low flash points, which make them evaporate even at room temperatures and form explosive atmosphere at their surface.
Some of the locations that come under Class I include petroleum/oil refineries, wastewater/sewage treatment plants, offshore oil rigs, spray booths, solvent extraction plants, and paint warehouses. Class I Division I are the locations that consist of flammable materials present under normal operating conditions. Some of the examples are gas generator rooms, fuel storage locations, cleaning and dyeing plants; normally locations where flammable liquids are used. Class I Division II are the locations where flammable materials are handled and confined within closed containers or systems. Examples of Class I Division II locations typically include areas that store compressed gas or flammable liquid in sealed containers.
Safety issues have been a key concern in all organizations across the globe. Industrial plants, oil and gas refineries, oilfield equipment and services, and other types of facilities all around the world put forth massive effort and investment to prevent safety issues at all costs, especially in hazardous areas and classified locations.

The United States is the Largest Market in North America
The demand from the oil and gas industry, chemical industry, and the stringent regulations of operations in the industry are the major reasons for making the United States the largest contributor to North America’s market share. Manufacturing, pharmaceuticals, food & beverage, and other industries are all dependent on industrial gases for their seamless operations, keeping the demand afloat. The challenge faced by this market is that the demand is not regular and depends more on the end-user needs. Also, the companies face the challenge of getting the equipment certified from the local authority set by the government to look in these affairs. This makes it difficult to follow one global standard of certification standards.

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