Hazardous Location Thermostats Market 2022 Disclosing Latest Trends and Advancement Outlook 2026
The hazardous location thermostats market registered a CAGR of 7.72% during the forecast period, (2021 - 2026).
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Top Leading Companies of Hazardous Location Thermostats Market are - Pentair Ltd, Johnson Controls Inc., R. Stahl Inc., Honeywell International Inc., Emerson Industrial Automation, Watlow Electric Manufacturing Company, Tempco Electric Heater Corporation, Stego Elektrotechnik GmbH, SSHC Inc., Schneider Electric SA, Thermon and others.
Industry News and Updates:
- Stego Elektrotechnik GmbH launched hazardous area thermostat, REx 011, for the regulation of heaters within control and switch cabinets, as well as measuring equipment located in areas with explosion hazard, underground mines, and mines susceptible to firedamp.
Key Market Trends:
Growing Safety Measures across Industries to Drive the Market Growth
- Various industries, like oil and gas, and mining, are witnessing an increase in the production of materials, owing to the greater consumption of resources across the world.
- In these booming industries, factors, like ever-higher quotas, productivity, and profits, are prioritized over employee safety. Oil rig injuries are often due to the fast-paced nature of the oil business, improperly trained workers, and a lack of proper safety equipment in case of fire. When these elements are combined, they can create a condition for accidents, which is driving the market forward.
- Crosspoint temperature is one of the methods for the determination of susceptibility of the coal samples. A thermostat is used in this method to control the temperature of the furnace. Usually, a linear heating rate is maintained, and can lead to furnace damage or a fire incident if not done so. Thus, this is a major factor driving the market.
Asia-Pacific to Witness a Significant CAGR
- The Asia-Pacific region is expected to witness a high growth, owing to the technological advancements and reduction in the cost of the product in the region and adoption of the thermostats in various industry verticals.
- Additionally, the Asia-Pacific region is home to some of the major developing economies, like Japan, China, and India. The region presents a huge potential for the vendors of thermostats.
- Moreover, the rapid growth in the manufacturing sector and the growing energy demand in this region may attract new investments and growth in various industries, such as mining, manufacturing, and energy, leading to a positive demand for thermostats in the region.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Hazardous Location Thermostats Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Hazardous Location Thermostats Market (%),2016 - 2026
- Hazardous Location Thermostats Market Share, By Brand
- Hazardous Location Thermostats Market Share, By Company
- Hazardous Location Thermostats Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Hazardous Location Thermostats Market Value Analysis & Forecast
- Promising Hazardous Location Thermostats Development by Major Companies
- Detailed Hazardous Location Thermostats Portfolio of the Major Companies
- Major Deals in the Hazardous Location Thermostats Market
- Major Companies Analysis
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