Press release
Hazardous Area Equipment Market on Track for Strong Growth, Estimated to Grow at 6.9% CAGR Through 2029
Hazardous Area Equipment
What Is the Expected CAGR for the Hazardous Area Equipment Market Through 2025?
The market for hazardous area equipment has seen significant expansion lately, with its valuation predicted to rise from $9.57 billion in 2024 to $10.1 billion in 2025, marking a compound annual growth rate (CAGR) of 5.5%. Factors contributing to growth during this historic period include industrial and manufacturing development, rigorous safety rules, international trade and globalization, energy prospecting and mining, along with heightened emphasis on the safety of workers.
What's the Projected Size of the Global Hazardous Area Equipment Market by 2029?
The market size for equipment in hazardous areas is projected to experience robust growth in the coming years, reaching $13.19 billion by 2029 with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth over the forecast period include a worldwide shift towards renewable energy, the need for modular solutions, industrial system cybersecurity, the appearance of new hazardous substances, as well as changes in regulations and compliance standards. Notable trends within the forecast period include the integration of IoT, automation in hazardous regions, a rise in the use of LED lighting, tailoring of solutions, as well as training and certification programs and the creation of intrinsically safe technologies.
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Top Growth Drivers in the Hazardous Area Equipment Industry: What's Accelerating the Market?
The growth of the hazardous area equipment market is anticipated to surge due to the escalating requirement for industrial safety. Industrial safety encompasses a set of rules, preventative measures, and protocols to protect the environment and workers from harm. It acts as remedial action that is periodically evaluated and sanctioned by safety professionals. To avoid explosions and maintain the safety of people, hazardous area equipment is utilized in risk-prone areas. Consequently, the employment of hazardous area equipment for industrial safety will propel its demand. In December 2023, the Bureau of Labor Statistics, a governmental agency in the United States, reported a worrisome rise in fatal work injuries. Fatalities increased by 5.7% from 5,190 in 2021 to 5,486 in 2022, thereby indicating a growing incidence of industrial accidents. As a result, the mounting need for industrial safety is catalyzing the expansion of the hazardous area equipment market.
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Which Emerging Trends Are Transforming the Hazardous Area Equipment Market in 2025?
The rise of technological advancements stands out as a significant trend in the hazardous area equipment market. Many big players in this sector are concentrating on technological innovations to maintain their market standing. In February 2022, i.safe MOBILE GmbH, a mobile communication equipment manufacturer based in Germany for hazardous locations, unveiled the IS-TC1A.1, an ex-protected thermal imaging camera. This device is made to aid predictive maintenance in dangerous areas. Built with Seek Thermal technology, the explosion-proof thermal imaging camera IS-TC1A.1 gives industrial operators in high-risk zones the ability to oversee industrial and maintenance procedures, and pinpoint potential issues before they exacerbate. The main goal of predictive maintenance is to reduce energy costs, boost reliable processes, and avoid unplanned equipment shutdowns.
What Are the Main 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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Which Top Companies are Driving Growth in the Hazardous Area Equipment Market?
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
Which Regions Will Dominate the Hazardous Area Equipment Market Through 2029?
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
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