Press release
Rising Demand For Industrial Safety To Drive Market Growth: Key Factor Driving The Growth In The Hazardous Area Equipment Market
Hazardous Area Equipment
What Is the Current Hazardous Area Equipment Market Size and Its Estimated Growth Rate?
In preceding years, the hazardous area equipment market has seen substantial growth. The market, which stood at $9.57 billion in 2024, is expected to grow to $10.26 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%. The historic period of growth is mostly due to factors such as industrialization and manufacturing advancement, rigorous safety rules, globalization along with cross-border commerce, energy discovery and extraction, as well as an amplified emphasis on worker safety.
The market for hazardous area equipment is anticipated to experience robust expansion in the coming years. The market is predicted to escalate to $13.69 billion by 2029, with a compound annual growth rate (CAGR) of 7.5%. The expansion over the prediction period can be associated with the worldwide adjustment towards renewable energy, appetite for modular solutions, concentration on cybersecurity in industrial operations, the surfacing of new hazardous substances, changes in regulation and adherence to standards. Notable trends to watch during the forecast period incorporate IoT integration, automation in hazardous areas, rising acceptance of led lighting, solution customization, training and certification modules, and the creation of intrinsically safe technologies.
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What Are the High-Growth Segments in the Hazardous Area Equipment Market?
The hazardous area equipment market covered in this report is segmented -
1) By Product: Cable Glands And Accessories, Process Instruments, Industrial Controls, Motors, Strobe Beacons, Lighting
2) By Service: Wired, Wireless
3) By Industry: Oil And Gas, Chemical And Pharmaceutical, Food And Beverages, Energy And Power, Mining
Subsegments:
1) By Cable Glands And Accessories: Ex d Cable Glands, Ex e Cable Glands, Junction Boxes
2) By Process Instruments: Pressure Sensors, Temperature Sensors, Flow Meters
3) By Industrial Controls: Control Panels, PLCs (Programmable Logic Controllers), Safety Relays
4) By Motors: Explosion-Proof Motors, Variable Frequency Drives (VFDs)
5) By Strobe Beacons: LED Strobe Beacons, Xenon Strobe Beacons
6) By Lighting: LED Hazardous Area Lights, Fluorescent Hazardous Area Lights, High-Intensity Discharge (HID) Lights
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What Key Drivers Are Expected to Influence Future Hazardous Area Equipment Market Growth?
The heightened need for safety in industrial settings is set to drive the expansion of the hazardous area equipment market. Industrial safety, consisting of an array of procedures, guidelines, and rules, is designed to protect workers, the workplace, and the environment from harm. This proactive measure, regularly evaluated and endorsed by safety experts, ensures a safe work environment and continuity in business functioning. Hazardous area equipment is employed in such environments to prevent explosions and safeguard personnel. Consequently, the application of this equipment for industrial safety will bolster their demand. To illustrate, the Bureau of Labor Statistics, a government body in the US, reported that fatal workplace injuries in the country escalated to 5,486 in 2022, an increase of 5.7% from 5,190 in 2021. This progression underscores a distressing growth in industrial mishaps. As a result, the escalating requirement for industrial safety is fuelling the progression of the hazardous area equipment market.
Which Companies Hold the Largest Share Across Different Hazardous Area Equipment Market Segments?
Major companies operating in the hazardous area equipment market include PATLITE USA Corporation., Eaton Corporation PLC., Rockwell Automation Inc., Emerson Electric Co., Siemens AG., NHP Electric Engineering Products Pty Ltd., Honeywell International Inc., E2S Warning Signals LLC., ABB Ltd., Federal Signal Corporation., Potter Signal Co., R. STAHL AG., Tomar Electronics Inc., Mitsubishi Electric Corporation., Adalet Inc., Bartec Group., Cortem Group., Delvalle Box., Extronics Ltd., G M International Srl., Hawke International., Intertek Group PLC., J B Systems BVBA., Marechal Electric Group., Miretti Group., Pepperl+Fuchs GmbH., Phoenix Contact GmbH & Co KG., Raychem RPG., Redapt Ltd., S Tahl AG., Schneider Electric SE., Shenzhen Hengchangda Industry Co Ltd
What Trends Are Driving Growth in The Hazardous Area Equipment Market?
The surge of technological progress has been identified as a prevailing trend within the hazardous area equipment industry. Dominant companies within the hazardous area equipment sphere are focusing their efforts on technological innovation to maintain their market standing. As recent as February 2022, i.safe MOBILE GmbH, a company based in Germany that manufactures communication equipment for hazardous zones, introduced the IS-TC1A.1, a thermal imaging camera specifically designed to safeguard against explosions. Utilizing Seek Thermal technology, this device has been crafted for anticipatory maintenance in hazardous zones, enabling users to keep an eye on various industrial and maintenance operations in order to identify potential hazards in their early stages. The goal is to reduce energy expenses, boost process reliability, and deter unexpected equipment shutdowns through predictive maintenance.
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What Are the Emerging Geographies for The Hazardous Area Equipment Market Growth?
North America was the largest region in the hazardous area equipment in 2024. The regions covered in the hazardous area equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hazardous Area Equipment Market?
2. What is the CAGR expected in the Hazardous Area Equipment Market?
3. What Are the Key Innovations Transforming the Hazardous Area Equipment Industry?
4. Which Region Is Leading the Hazardous Area Equipment Market?
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