Isolated Barriers Market 2023 Industry Trends, Future Demands, Growth Factors, Emerging Technologies

The global Isolated Barriers market size was valued at US$ 1,171.4 Million in 2022, and anticipated to grow at a CAGR of 4.4% over the forecast period. Isolated barriers use galvanic isolation to protect electrical signals in potentially flammable, combustible and other hazardous areas. It is not capable of preventing communication or signals from getting through-a barrier only can prevent dangerous levels of voltage and current. Signals are still transmitted between the device, field and the control system. However, by restricting the energy to low levels incapable of causing ignition, dangerous catalysts cannot form. Therefore, this intrinsically safe arrangement stops fires, electrical shocks, and explosions.

Rising focus on infrastructure development along with the robust industrial growth across the world for making life easier, safer, and more comfortable for millions of people. With all these developments, a substantial growth in the demand for energy is inevitable, and at the same time safety equipment are also witnessing a huge demand across the world. Hence, increasing spending in infrastructure development is expected to be the key driver for the growth of the isolated barrier market. For instance, The U.S. government has recently introduced a "Build Back Better" plan for infrastructure development. Under this plan, the government has decided to invest over US$ 7 Trillion to transform the country's ageing and neglected infrastructure systems. The Government of India is anticipated to spend US$ 1.4 trillion in the infrastructure sector during 2019-23, specially on renewable energy, highways, and urban transport.

Industry growth is being hampered by high installation costs and lack of awareness among end-users. Major factors hindering the adoption of isolated barriers among end-users are lack of knowledge of safe operation guidelines, low qualifications of maintenance staff, poor repair or extended downtime of equipment and poor organization and work process. These factors are a consequence of deficient regulations and weak compliance with industrial safety necessities.

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Category Insights

On the basis of category, 4~20mA segment dominated major market share in 2022. In terms of revenue, 4~20mA category segment is estimated hold majority of the share in the global isolated market and is anticipated to expand at a CAGR of 4.4% during the forecast period. This growth is mainly attributed by the growing adoption of 4~20mA categories among heavy industrial areas to protect against electrical signals in potentially hazardous areas.

End-user Insights

Based on the end-user, oil & gas segment accounted for the largest market share during the forecast period. Rising demand for isolated barriers in oil & gas industry and strict government policies to reduce risk-oriented incidents are the major factors which is anticipated to boost the demand for the isolated barriers across the globe. For instance, chemical, oil & gas and construction companies are switching to advanced safety devices in order to reduce the causalities and to provide safe and secure environment to the workers.

Regional Insights

In terms of region, North America dominated the global market share in 2021. In hazardous areas, end-users are emphasized on installing a range of protective measures to prevent the formation and ignition of an explosive atmosphere. The intrinsic safety type of protection plays an important role in process automation. Hence, fuelling the demand for the isolator barriers market across different verticals in the region.

Isolated Barriers market in Asia Pacific is projected to register fastest revenue CAGR between 2022 and 2031 owing to rising adoption of Isolated Barriers and government funding for Isolated Barriers deployment. Among Asia Pacific countries, Australia is estimated to be among the fastest growing country in this cluster of regional markets followed by the South East Asia, South Korea and India. Government support together with huge investment in chemical industry is anticipated to boost the adoption of isolated barriers market across the region. Integration of safety equipment in chemical plants are increasing throughout the region as it is mandatory to install in order to avoid risk.

Key Companies Insights

Some of the major companies studied under the market scope are as follows: ABB Limited, Rockwell Automation, Yokogawa Electric Corporation, Eaton Corporation, Phoenix Contact, Pepperl+Fuchs, Dwyer Instruments Inc., R. STAHL, Omega Engineering, DRAGO Automation GmbH, Shanghai Chenzhu instrument CO., LTD., Wago Group, G.M. International srl and Others. Major players operating in the ecosystem experiences intense competition owing to the presence of large number of players on the global scale. Further, players are adopting various strategies such as merger and acquisition, geographic expansion, product launch, research & development for expanding their product portfolio, and others.

For instance, in December 2020, the company has entered into partnership with o9 Solutions, Inc., an AI-powered platform provider, to leverage the next-generation capabilities of the o9 platform to improve decision-making, and to reduce costs and to enable real-time visibility across its end-to-end supply chain.

Segments

By Category

· 0/4~20mA

· 4~20mA

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By End-user

· Oil and Gas

· Chemical

· Energy and Power Plants

· Pharmaceutical

· Metallurgy

· Others

Global Isolated Barriers Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Isolated Barriers market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Points:
Define, describe and forecast Isolated Barriers product market by type, application, end user and region.
Provide enterprise external environment analysis and PEST analysis.
Provide strategies for company to deal with the impact of COVID-19.
Provide market dynamic analysis, including market driving factors, market development constraints.
Provide market entry strategy analysis for new players or players who are ready to enter the market, including market segment definition, client analysis, distribution model, product messaging and positioning, and price strategy analysis.
Keep up with international market trends and provide analysis of the impact of the COVID-19 epidemic on major regions of the world.
Analyze the market opportunities of stakeholders and provide market leaders with details of the competitive landscape.

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