Press release
Increasing Consumer Awareness To Fuel Adoption of Hazardous Area Equipment Market : Fact.MR
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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.
Hazardous area equipment manufacturers are focusing on partnership and collaboration agreements to enhance their business scope.
โข 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.
๐๐ผ๐๐ป๐น๐ผ๐ฎ๐ฑ ๐๐ฟ๐ฒ๐ฒ ๐ฆ๐ฎ๐บ๐ฝ๐น๐ฒ ๐๐ผ๐ฝ๐ ๐ผ๐ณ ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ - https://www.factmr.com/connectus/sample?flag=S&rep_id=7308
๐๐ฒ๐ ๐ฆ๐ฒ๐ด๐บ๐ฒ๐ป๐๐ ๐๐ผ๐๐ฒ๐ฟ๐ฒ๐ฑ ๐ถ๐ป ๐๐ฎ๐๐ฎ๐ฟ๐ฑ๐ผ๐๐ ๐๐ฟ๐ฒ๐ฎ ๐๐พ๐๐ถ๐ฝ๐บ๐ฒ๐ป๐ ๐๐ป๐ฑ๐๐๐๐ฟ๐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต
โข ๐ฏ๐ ๐ฃ๐ฟ๐ผ๐ฑ๐๐ฐ๐ :
Cable Glands & Accessories
Process Instruments
Industrial Controls
Motors
Strobe Beacons
Other Products
โข ๐ฏ๐ ๐๐ผ๐ป๐ป๐ฒ๐ฐ๐๐ถ๐๐ถ๐๐ :
Wireless Hazardous Area Equipment
Wired Hazardous Area Equipment
โข ๐ฏ๐ ๐๐ป๐ฑ ๐จ๐๐ฒ :
Oil & Gas
Chemicals & Pharma
Energy & Power
Mining
Other End Uses
โข ๐ฏ๐ ๐ฅ๐ฒ๐ด๐ถ๐ผ๐ป :
North America
Latin America
Europe
East Asia
South Asia & Oceania
MEA
๐๐ฒ๐ ๐๐๐๐๐ผ๐บ๐ถ๐๐ฎ๐๐ถ๐ผ๐ป ๐ผ๐ป ๐๐ต๐ถ๐ ๐ฅ๐ฒ๐ฝ๐ผ๐ฟ๐ ๐ณ๐ผ๐ฟ ๐ฆ๐ฝ๐ฒ๐ฐ๐ถ๐ณ๐ถ๐ฐ ๐ฅ๐ฒ๐๐ฒ๐ฎ๐ฟ๐ฐ๐ต ๐ฆ๐ผ๐น๐๐๐ถ๐ผ๐ป๐ - https://www.factmr.com/connectus/sample?flag=RC&rep_id=7308
๐๐ฒ๐ ๐ง๐ฎ๐ธ๐ฒ๐ฎ๐๐ฎ๐๐ ๐ณ๐ฟ๐ผ๐บ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐ ๐ฆ๐๐๐ฑ๐
โข The hazardous area equipment market stands at a net worth of US$ 6.5 billion in 2022.
โข By the end of 2026, the market for hazardous area systems is projected to reach US$ 8.7 billion.
โข Demand for hazardous area equipment is anticipated to increase at a CAGR of 6.5% from 2022 to 2026.
โข 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).
โข High costs of hazardous area equipment to have hindering effect on global market growth.
โข The U.S. hazardous area equipment industry holds a market value of US$ 1.7 billion in 2022.
โข 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%.
๐ช๐ถ๐ป๐ป๐ถ๐ป๐ด ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐
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.
๐๐ผ๐ฟ ๐ถ๐ป-๐ฑ๐ฒ๐ฝ๐๐ต ๐ฐ๐ผ๐บ๐ฝ๐ฒ๐๐ถ๐๐ถ๐๐ฒ ๐ฎ๐ป๐ฎ๐น๐๐๐ถ๐, ๐๐๐ ๐ก๐ผ๐ - https://www.factmr.com/checkout/7308
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