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Hazardous Area Equipment - Global Market Trajectory & Analytics

  • ID: 4805004
  • Report
  • February 2022
  • Region: Global
  • 830 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • ABB Ltd.
  • E2S Warning Signals
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Patlite Corporation
  • Potter Signal Co.

Global Hazardous Area Equipment Market to Reach $9.4 Billion by 2027


Amid the COVID-19 crisis, the global market for Hazardous Area Equipment estimated at US$6 Billion in the year 2020, is projected to reach a revised size of US$9.4 Billion by 2027, growing at a CAGR of 6.5% over the analysis period 2020-2027. Cable Glands & Accessories, one of the segments analyzed in the report, is projected to record a 7.8% CAGR and reach US$2.7 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Process Instruments segment is readjusted to a revised 6% CAGR for the next 7-year period.



The U.S. Market is Estimated at $1.6 Billion, While China is Forecast to Grow at 7.4% CAGR


The Hazardous Area Equipment market in the U.S. is estimated at US$1.6 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$860.4 Million by the year 2027 trailing a CAGR of 7.4% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.3% and 5.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR.

Industrial Controls Segment to Record 6.8% CAGR


In the global Industrial Controls segment, USA, Canada, Japan, China and Europe will drive the 5.9% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$569.2 Million in the year 2020 will reach a projected size of US$849.5 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$617.6 Million by the year 2027, while Latin America will expand at a 7.1% CAGR through the analysis period.

Select Competitors (Total 211 Featured) -

  • ABB Ltd.
  • E2S Warning Signals
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Federal Signal Corporation
  • Honeywell International, Inc.
  • NHP Electric Engineering Products
  • Patlite Corporation
  • Potter Signal Co.
  • R.Stahl AG
  • Rockwell Automation
  • Siemens AG
  • Tomar Electronics, Inc.
  • WERMA Signaltechnik GmbH + Co. KG
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Frequently Asked Questions about the Global Market for Hazardous Area Equipment

What is the estimated value of the Global Market for Hazardous Area Equipment?

The Global Market for Hazardous Area Equipment was estimated to be valued at $6.0 Billion in 2020.

What is the growth rate of the Global Market for Hazardous Area Equipment?

The growth rate of the Global Market for Hazardous Area Equipment is 6.6%, with an estimated value of $9.4 Billion by 2027.

What is the forecasted size of the Global Market for Hazardous Area Equipment?

The Global Market for Hazardous Area Equipment is estimated to be worth $9.4 Billion by 2027.

Who are the key companies in the Global Market for Hazardous Area Equipment?

Key companies in the Global Market for Hazardous Area Equipment include ABB Ltd., E2S Warning Signals, Eaton Corporation Plc, Emerson Electric Co., Federal Signal Corporation, Honeywell International, Inc., NHP Electric Engineering Products, Patlite Corporation and R.Stahl AG.

FEATURED COMPANIES

  • ABB Ltd.
  • E2S Warning Signals
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Patlite Corporation
  • Potter Signal Co.

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Influencer Market Insights
  • Impact of COVID-19 and a Looming Global Recession
  • Pandemic Crisis Weakens Economic Environment, Triggering Negative Tide in GDP
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • What is a Hazardous Area?
  • Hazardous Area Classification for Flammable Gases and Vapors
  • Standards used for Hazardous Areas Classification
  • Hazardous Area Equipment: An Introduction
  • Global Market Prospects & Outlook
  • Competition
  • World Brands
  • Recent Market Activity
  • Hazardous Area Equipment – Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Increasing Emphasis on Adoption of Safety Measures in Industries Drives Focus onto Hazardous Area Equipment
  • Rise in Workplace Accidents in Hazardous Facilities Favors Market Growth
  • High Levels of Workplace Related Accidents Bring Renewed Emphasis on Hazardous Area Equipment: Breakdown of Annual Work Related Fatalities (In Thousands) Worldwide by Region
  • Industrial Safety Regulations Underpin Market Growth
  • Market to Gain from Rapidly Evolving Role of Industry 4.0 and ‘Smart Factory’ in the Global Industrial Landscape
  • Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020E
  • Industrial IoT to Give Impetus to Market Expansion
  • Market to Benefit from Technology Advances in Lighting Systems and Increasing Use of LED Lighting Solutions in Hazardous Areas
  • Oil & Gas Sector: Hazardous Working Environment Enhances Significance of Safety Equipment
  • Sustained Reliance on Fossil Fuels and Ensuing Demand for Oil Bodes Well for Market Expansion: Global Oil Production (Million bpd) by Region for the Years 2011, 2013, 2015, 2017 and 2019
  • Global Daily Crude Oil Demand in Million Barrels for the Years 2015 through 2020
  • Global Primary Energy Consumption by Source (in %) for 2018 and 2040
  • Global Oil & Gas E&P Industry Spending (2015-2021E)
  • Breakdown of Global E&P Spending (in %) by Supply Segment for the Year 2019 & 2020
  • Chemical & Pharmaceutical Enterprises Rely on Safety Equipment to Ensure Workplace Safety
  • Presence of Gases & Vapors Increases Explosion Risk in Food & Beverage Facilities, Driving Demand for Safety Equipment
  • Technology Advancements Transform Hazardous Area Management
  • Product Advancements in Signaling Devices Space
  • Strobe Beacons: An Essential Component of Emergency Lighting Systems
  • Global Strobe Beacons Market by Type (in %) for 2020E
  • Overriding Need to Protect Assets from Fire and Explosion Catalyzes Explosion-Proof Equipment Market
  • Hazardous Area Fire Alarms: Essential to Alert People during Emergencies
  • Cable Glands: Connecting Electrical Cables to Equipment
  • Hazardous Duty Sensors: Sensing Hazards at Sites
  • Hazardous Area Motors Emerge as Essential Components to Ensure Safe Operations
  • Process Instruments: Monitoring, Measuring & Controlling Processes
  • Venting, Suppression & Containment Systems Hold Significance for Dust Explosion Protection in Industrial Facilities
  • Dust Explosion Protection for Metal Processing Industry
  • Pressing Need to Ensure Employee Safety Fuels Growth in Hazardous Area Signaling Equipment Market
  • Focus on Intrinsic Safety in Diverse Industry Verticals to Intensify Growth of Global Hazardous Area Sensors Market
  • Advanced Heat Exchangers to Satiate Need for Effective Cooling of Electrical Systems in Hazardous Locations
  • Growing Importance of Drones in Ensuring Hazardous Area Safety
  • Hazardous Industrial Waste Emerges as a Key Cause of Environmental Pollution & Contamination
  • Evolving Regulations Pose Challenges

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Hazardous Areas in North America

CANADA

JAPAN

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)

EUROPE

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
  • Explosion Protection Equipment Market in the UK: An Overview

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)

AUSTRALIA

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Hazardous Area Equipment Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 211

A selection of companies mentioned in this report includes:

  • ABB Ltd.
  • E2S Warning Signals
  • Eaton Corporation Plc
  • Emerson Electric Co.
  • Federal Signal Corporation
  • Honeywell International, Inc.
  • NHP Electric Engineering Products
  • Patlite Corporation
  • Potter Signal Co.
  • R.Stahl AG
  • Rockwell Automation
  • Siemens AG
  • Tomar Electronics, Inc.
  • WERMA Signaltechnik GmbH + Co. KG