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Hazardous Area Equipment Market Size to Exceed USD 8.7 Billion at CAGR of 6.5% by 2026

04-23-2024 07:18 AM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Hazardous Area Equipment Market

Hazardous Area Equipment Market

The hazardous area equipment market is expected to increase from a net worth of US$ 6.5 billion in 2022 to US$ 8.7 billion by the end of 2026, according to a recent industry survey conducted by knowledgeable experts at Fact.MR.

Global industrialization has grown at an exponential rate, necessitating the development of new industrial safety regulations. The demand for hazardous area equipment has expanded globally because to the rising use of explosive components, flammable materials, and hazardous chemicals in businesses.

The market potential for hazardous area equipment will also be further advanced by government regulations aimed at ensuring occupational safety in dangerous settings. In the upcoming years, adoption of hazardous area systems is anticipated to be somewhat limited by the high cost of installation.

๐ƒ๐จ๐ฐ๐ง๐ฅ๐จ๐š๐ ๐š ๐’๐š๐ฆ๐ฉ๐ฅ๐ž ๐‚๐จ๐ฉ๐ฒ ๐จ๐Ÿ ๐“๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7308

In order to expand the scope of their business, manufacturers of hazardous area equipment are concentrating on partnerships and collaboration agreements.

Leading brand in the market for hazardous area equipment, Honeywell, announced in December 2020 that it would buy Australian SaaS technology company Sine Group. Better safety will result from this transaction, which will strengthen Honeywell's connected building capabilities.

๐Š๐ž๐ฒ ๐“๐š๐ค๐ž๐š๐ฐ๐š๐ฒ๐ฌ ๐Ÿ๐ซ๐จ๐ฆ ๐Œ๐š๐ซ๐ค๐ž๐ญ ๐’๐ญ๐ฎ๐๐ฒ

In 2022, the market for hazardous area equipment is expected to have a net worth of US$ 6.5 billion.
The market for hazardous area systems is expected to reach US$ 8.7 billion by the end of 2026.
Hazardous area equipment demand is expected to rise at a compound annual growth rate (CAGR) of 6.5% between 2022 and 2026.
Sales of hazardous area devices are anticipated to be significantly influenced by the growing emphasis on workplace safety and the stringent regulations enacted by the government to guarantee it during the projected period (2022-2026).
The high cost of hazardous area equipment will impede the expansion of the global market.
By 2022, the hazardous area equipment market in the United States is expected to be worth US$1.7 billion.
By 2026, the hazardous area equipment market in China is expected to have grown at a strong compound annual growth rate of 7.4% and reach a net worth of US$ 799 million.

๐–๐ข๐ง๐ง๐ข๐ง๐  ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ

To increase their market share and increase sales, makers of hazardous area equipment are concentrating on partnerships, collaborations, acquisitions, and mergers. Vendors of hazardous area equipment should benefit from government regulations aimed at ensuring workplace safety, as these regulations will enable them to generate the most income possible.

Suppliers of hazardous area systems will also use both organic and inorganic growth techniques to get a competitive advantage and expand their global market presence.

๐†๐ž๐ญ ๐‚๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐š๐ญ๐ข๐จ๐ง ๐จ๐ง ๐ญ๐ก๐ข๐ฌ ๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐จ๐ซ ๐’๐ฉ๐ž๐œ๐ข๐Ÿ๐ข๐œ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก ๐’๐จ๐ฅ๐ฎ๐ญ๐ข๐จ๐ง๐ฌ: https://www.factmr.com/connectus/sample?flag=RC&rep_id=7308

๐Š๐ž๐ฒ ๐’๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ ๐‚๐จ๐ฏ๐ž๐ซ๐ž๐ ๐ข๐ง ๐‡๐š๐ณ๐š๐ซ๐๐จ๐ฎ๐ฌ ๐€๐ซ๐ž๐š ๐„๐ช๐ฎ๐ข๐ฉ๐ฆ๐ž๐ง๐ญ ๐ˆ๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ฒ ๐‘๐ž๐ฌ๐ž๐š๐ซ๐œ๐ก

By Product:

Cable Glands & Accessories
Process Instruments
Industrial Controls
Motors
Strobe Beacons
Other Products

By Connectivity:

Wireless Hazardous Area Equipment
Wired Hazardous Area Equipment

By End Use:

Oil & Gas
Chemicals & Pharma
Energy & Power
Mining
Other End Uses

By Region:

North America Latin America Hazardous Area Equipment Market
Europe
East Asia
South Asia & Oceania
MEA

๐‚๐จ๐ง๐ญ๐š๐œ๐ญ:

US Sales Office
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Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com

๐€๐›๐จ๐ฎ๐ญ ๐…๐š๐œ๐ญ.๐Œ๐‘

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