Press release
Hazardous Area Sensors Market - Prominent Key Players & Forecast 2015 - 2023
The deployment of electrical gear in possibly hazardous or dangerous areas has been a noteworthy worry since the start of the twentieth century. Upheld by the need to accomplish precision and wellbeing in unstable zones and the execution of government directions globally, the market for hazardous area sensors has gotten a critical lift throughout the years. Filled by the developing significance of inherent security in many assembling offices, including oil refineries, material factories, compound plants, and paint producers, the global market for hazardous area sensors is ready to grow over the course of the given forecast period of 2015 to 2023. Despite the fact that hazardous area sensing has existed for a considerable period of time, the number of players dealing with hazardous area sensors are limited. There are, however, a comparatively higher number of suppliers providing raw material to manufacturers.
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Hazardous Area Sensors Market: Trends and Opportunities
The global market for hazardous area sensors has been influenced by the growing importance of intrinsic safety. Intrinsic safety is internationally recognized and wide acknowledged technique of low energy signaling at dangerous locations , thus helping in avoiding any events explosions or accidents. In addition to this, the adoption of this concept in the current day production facilities for textile mills, chemical plants, pain manufacturers, and oil refineries are also projected to help in driving the overall growth of the global market for hazardous area sensors market. And the all round impact of it is expected be the high by the end of the given forecast period of 2015 to 2023.
In addition to the increasing prominence of the intrinsic safety, the imposing of strict government regulations across the world, has enforced companies to utilize hazardous area sensors. Nations such as the U.K., the U.S., Canada, Germany, France, Austria, the Netherlands, France, and Switzerland among others have set up special standards, ratings, and certifications for the sensor safety.
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However, there are some factors that might negatively affect the overall growth of the global market for hazardous area sensors. One of the key restraining factors for the growth of the global market for hazardous area sensors is the economic recession in numerous countries and the overall high prices of the upgradation of the legacy systems while setting up the modern sensors.
Hazardous Area Sensors Market: Geographical Segmentation
The global market for hazardous area sensors can be segmented into key geographical regions such as North America, Europe, Asia Pacific, and Rest of the World. The global market is expected to be dominated by Asia Pacific over the course of the given forecast period of 2015 to 2023. This growth of the market can be attributed to high economic development in countries such as South Korea and India. In addition to this, the swift development of numerous industrial segments and the growing importance given to the intrinsic safety in majority of industrial verticals have also played an important part in making Asia Pacific as the dominant regional market for hazardous area sensors across the globe.
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Hazardous Area Sensors Market: Key Players
Some of the key players in the global market for hazardous area sensors include names such as Servomex Group, Ltd., Neo Monitors AS, Eaton Corporation Plc, Sick AG, Mettler-Toledo International, Inc., ABB Group, Yokogawa Electric Corporation, Honeywell International, Inc., Endress and Hauser, and Siemens AG.
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