Hazardous Area Equipment Market worth $14.1 billion in 2028, at a CAGR of 6.1%

December 19 22:45 2022
Hazardous Area Equipment Market worth $14.1 billion in 2028, at a CAGR of 6.1%
Hazardous Area Equipment Market
The hazardous area equipment market Size is expected to reach USD 14.1 billion by 2028 from USD 10.5 billion in 2023 growing at a CAGR of 6.1% from during the forecast period.

The report “Hazardous Area Equipment Market by Product (Cable Glands & Accessories, Measurement Devices, Control Products, Alarm Systems, Motors, Lighting Products), Industry (Oil & Gas, Chemical & Pharmaceutical, Food & Beverage), Region – Global Forecast to 2028“, The hazardous area equipment market is projected to grow from USD 10.5 billion in 2023 to USD 14.1 billion in 2028; it is expected to grow at a CAGR of 6.1%  from 2023 to 2028. The growth of the market is attributed to rising government regulations for industrial safety measures in hazardous environments. During the forecast period, the development of hazardous area equipment in industries such as oil & gas, chemical & pharmaceutical, food & beverage, and energy & power are expected to create growth opportunities for the market.

• Informational PDF Brochure :- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=197346515

Browse 176 market data Tables and 45 Figures spread through 195 Pages and in-depth TOC on “Hazardous Area Equipment Market by Region – Global Forecast to 2028”

View detailed Table of Content herehttps://www.marketsandmarkets.com/Market-Reports/hazardous-area-equipment-market-197346515.html

Hazardous Area Equipment Market

Hazardous area cable glands & accessories is to account for the larger share of the hazardous area equipment market throughout the forecasted period.

Hazardous area cable glands & accessories is to account for the larger share of the hazardous area equipment market throughout the forecasted period. Cable glands are widely used in every industry across diverse applications. Cable glands used in hazardous locations are intended to provide the safe connection of suitable cables to enclosures, maintaining the explosion protection and ingress properties of equipment, and should meet requirements such as mechanical retention, strain relief, and earth continuity. Increasing need for mechanical retention, strain relief, and earth continuity drive the demand for hazardous area cable glands & accessories.

Hazardous area equipment market for oil & gas industry is accounted for the largest share through the forecasted period.

Hazardous area equipment market for oil & gas industry accounted for the largest share through the forecasted period. Hazardous area equipment is used for various industrial applications as a part of the emergency management system and as intrinsic safe equipment to protect the workplace. The environment in the oil & gas industry is highly prone to explosives, and the use of equipment in this environment needs to be explosive-protected with all the necessary built-in safety standards. Hazardous area equipment avoids any internal explosion that might occur because of combustible gases, vapors, or high temperature present in the environment, as well as can survive an external explosion.

Market in North America holds significant opportunities for the market during the forecasted period.

The market has been segmented into the US, Canada, and Mexico.  The region has emerged as a global focal point for large investments and business expansion opportunities. The fastest growth of the hazardous area equipment market in North America can be attributed to the growing opportunities for hazardous area equipment in industries such as oil & gas, food & beverage, and chemical & pharmaceutical. This region represents the fastest-growing market worldwide for hazardous area equipment. The US remains the highest market for hazardous area equipment in North America throughout the forecasted period.

Key players

The key players in the hazardous area equipment market include ABB Ltd. (Switzerland), Siemens AG (Germany), Eaton Corporation (Ireland), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), Patlite Corporation (Japan), R. STAHL AG (Germany).

Don’t miss out on business opportunities in Hazardous Area Equipment Market. Speak to our analyst and gain crucial industry insights that will help your business grow.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/hazardous-area-equipment-market-197346515.html