Press release
Intrinsically Safe Equipment Market Size, Industry Trends, Growth and Forecast 2022-2027
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Intrinsically safe (IS) equipment refers to a set of devices and wiring that utilize low-energy signaling to prevent explosions. It ensures that the energy transmitted to hazardous areas is lower than the energy required to initiate an explosion. It comprises various devices such as sensors, switches, flashlights, isolators, transmitters, detectors, gas detectors, and LED indicators. It enables live maintenance in hazardous areas without requiring gas clearance certifications. It offers flexibility, optimal safety, easy installation, and maintenance. As a result, IS equipment is gaining immense traction across the globe as it eliminates the need to install expensive explosive-proof enclosures, thus reducing the overall cost of installation.
Market Trends:
The global intrinsically safe equipment market is primarily driven by the increasing number of casualties and accidents in the oil and gas sector. Moreover, several favorable initiatives by governments of numerous countries to ensure workplace safety and security are positively influencing the market growth. Additionally, the rising utilization of safety switches to reduce the risk of electric shock, injury, death, and electrical fire is another major growth-inducing factor. Besides this, the integration of field bus cables and input and output (I/O) cards in IS equipment has catalyzed market growth.
Furthermore, the increasing automation across various industries, including oil and gas, is contributing to market growth. Other factors, including the rising number of onshore and offshore explorations, increasing investments in research and development (R&D) activities, and the rapid expansion of the automotive sector, are also anticipated to propel the market growth.
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Intrinsically Safe Equipment Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the global intrinsically safe equipment market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Fluke Corporation (Fortive Corporation), G.M. International s.r.l., Georgin, Honeywell International Inc., OMEGA Engineering Inc. (Spectris plc), Banner Engineering Corp., Bayco Products Inc., CorDEX Instruments, Eaton Corporation PLC, Pepperl+Fuchs SE, R. Stahl AG, Rockwell Automation Inc. and Schneider Electric SE.
Key Market Segmentation:
The report has segmented the global intrinsically safe equipment market based on product, zone, class, end user and region.
Breakup by Product:
• Sensors
• Detectors
• Switches
• Transmitters
• Isolators
• LED Indicators
• Others
Breakup by Zone:
• Zone 0
• Zone 20
• Zone 1
• Zone 21
• Zone 2
• Zone 22
Breakup by Class:
• Class 1
• Class 2
• Class 3
Breakup by End User:
• Oil and Gas
• Mining
• Power
• Chemical and Petrochemical
• Processing
• Others
Breakup by Region:
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Media Contact:
Company Name: IMARC Group
Contact Person: Elena Anderson
Email: sales@imarcgroup.com
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State: NY
Country: United States
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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