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US Hazardous Area Sensors Market (2023-2028) by Type and Applications, Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis

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  • 149 Pages
  • January 2023
  • Region: United States
  • Infogence Global Research
  • ID: 5585538

Various governments pushing for stricter regulations concerning workplace safety

The US Hazardous Area Sensors Market is estimated to be USD 1.79 Bn in 2023 and is expected to reach USD 2.26 Bn by 2028, growing at a CAGR of 4.75%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.

Market Segmentations

US Hazardous Area Sensors Market is segmented based on Type and Applications.
  • By Type, the market is classified into Gas Sensing, Pressure Sensing, Current Sensing, Voltage Sensing, and Temperature Sensors.
  • By Applications, the market is classified into Power, Oil & Gas, Mining & Metal, Grain Storage, Healthcare, Chemical, Pharmaceutical, Waste & Sewage Management, Fertilizer.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Automation Products Group, ESI Technology Ltd., Honeywell International, Inc., Siemens Ag, Yokogawa Electric Corp., etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for US Hazardous Area Sensors Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development, and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses US Hazardous Area Sensors Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, The analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the Hazardous Area Sensors Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the US Hazardous Area Sensors Market

What is the estimated value of the US Hazardous Area Sensors Market?

The US Hazardous Area Sensors Market was estimated to be valued at $1.79 Billion in 2023.

What is the growth rate of the US Hazardous Area Sensors Market?

The growth rate of the US Hazardous Area Sensors Market is 4.7%, with an estimated value of $2.26 Billion by 2028.

What is the forecasted size of the US Hazardous Area Sensors Market?

The US Hazardous Area Sensors Market is estimated to be worth $2.26 Billion by 2028.

Who are the key companies in the US Hazardous Area Sensors Market?

Key companies in the US Hazardous Area Sensors Market include ABB Group, Automation Products Group, Connection Technology Center, Eaton Corp. Ag, Endress+Hauser Ag, ESI Technology Ltd., Honeywell International, Inc., HSI Sensing, Mettler and Toledo International, Inc..

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders

2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations, and Outlook

4 Market Dynamics
4.1 Drivers
4.1.1 Increased Use of Hazardous Area Sensors in the Oil and Gas Industry
4.1.2 Need for Innovative Designs Pave Way to New Avenues in Hazardous Area Sensors Market
4.2 Restraints
4.2.1 High Initial Cost of Sensors
4.3 Opportunities
4.3.1 Smart Wireless Sensors are Creating Opportunity
4.4 Challenges
4.4.1 Technical Complexity

5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis

6 Hazardous Area Sensors Market, By Type
6.1 Introduction
6.2 Gas Sensing
6.3 Pressure Sensing
6.4 Current Sensing
6.5 Voltage Sensing
6.6 Temperature Sensors

7 Hazardous Area Sensors Market, By Applications
7.1 Introduction
7.2 Power
7.3 Oil & Gas
7.4 Mining & Metal
7.5 Grain Storage
7.6 Healthcare
7.7 Chemical
7.8 Pharmaceutical
7.9 Waste & Sewage Management
7.10 Fertilizer

8 Competitive Landscape
8.1 Competitive Quadrant
8.2 Market Share Analysis
8.3 Strategic Initiatives
8.3.1 M&A and Investments
8.3.2 Partnerships and Collaborations
8.3.3 Product Developments and Improvements

9 Company Profiles
9.1 ABB Group
9.2 Automation Products Group
9.3 Connection Technology Center
9.4 Eaton Corp. Ag
9.5 Endress+Hauser Ag
9.6 ESI Technology Ltd.
9.7 Honeywell International, Inc.
9.8 HSI Sensing
9.9 Mettler-Toledo International, Inc.
9.10 NEO Monitors AS
9.11 Pyrosales Pty. Ltd.
9.12 Servomex
9.13 Siemens Ag
9.14 Wilcoxon Sensing Technologies
9.15 Yokogawa Electric Corp.

10 Appendix
10.1 Questionnaire

Companies Mentioned

  • ABB Group
  • Automation Products Group
  • Connection Technology Center
  • Eaton Corp. Ag
  • Endress+Hauser Ag
  • ESI Technology Ltd.
  • Honeywell International, Inc.
  • HSI Sensing
  • Mettler-Toledo International, Inc.
  • NEO Monitors AS
  • Pyrosales Pty. Ltd.
  • Servomex
  • Siemens Ag
  • Wilcoxon Sensing Technologies
  • Yokogawa Electric Corp.