Hazardous Area Equipment Market Size & Growth Analysis to 2030

The global hazardous area equipment market size is expected to grow at a significant CAGR of around 6% during the forecast period 2021 to 2027. The increasing number of workplace accidents and the inclination toward safety equipment are some major factors to drive the market growth. Furthermore, the rising adoption of Industry 4.0, smart factories, and growing safety regulations in industries are further anticipated to boost market growth over the forecast period. Moreover, the technological advancement in developed economies and the continuous expansion of the oil & gas industry across the globe is expected to fuel market growth.

Market Drivers:

Stringent safety regulations and standards: Hazardous areas, such as those with flammable gases, liquids, or combustible dust, pose significant risks to workers and facilities. Stringent safety regulations and standards, imposed by government bodies and industry organizations, require the use of specialized equipment designed to prevent ignition and mitigate potential hazards. Compliance with these regulations drives the demand for hazardous area equipment.

Increasing industrialization and infrastructure development: As industrialization and infrastructure development continue to expand globally, there is a growing need for hazardous area equipment in various sectors such as oil and gas, chemical, mining, manufacturing, and pharmaceuticals. These industries operate in hazardous environments and require equipment that can withstand and operate safely in such conditions.

Growing emphasis on worker safety: Worker safety is a top priority in hazardous environments. Employers are increasingly focused on providing safe working conditions for their employees and reducing the risk of accidents, fires, and explosions. Hazardous area equipment, such as explosion-proof lighting, fire suppression systems, gas detectors, and intrinsically safe communication devices, are crucial for ensuring worker safety.

Technological advancements in hazardous area equipment: Technological advancements have led to the development of more advanced and efficient hazardous area equipment. These include explosion-proof enclosures, intrinsically safe devices, wireless communication systems, and remote monitoring and control solutions. Advancements in sensor technology and connectivity enable real-time monitoring of hazardous conditions, enhancing safety and operational efficiency.

Growth of the oil and gas industry: The oil and gas industry operates in hazardous environments, including offshore platforms, refineries, and petrochemical plants. As the demand for oil and gas continues to rise, there is a corresponding need for hazardous area equipment to ensure safe operations, prevent accidents, and protect personnel and assets.

Expansion of the chemical and pharmaceutical industries: The chemical and pharmaceutical industries involve the handling and processing of hazardous substances, including flammable chemicals and volatile compounds. Hazardous area equipment, such as explosion-proof pumps, ventilation systems, and safety cabinets, are critical for these industries to maintain safe operations and comply with regulations.

Increasing awareness of environmental protection: Environmental protection is a growing concern across industries. Hazardous area equipment helps mitigate the risk of environmental pollution and damage by preventing leaks, controlling emissions, and facilitating safe containment and disposal of hazardous materials.

Growth in mining activities: Mining operations often take place in hazardous and challenging environments, including underground mines and open pits. Hazardous area equipment, such as explosion-proof electrical equipment, ventilation systems, and personal protective gear, are necessary to ensure worker safety, prevent accidents, and comply with mining regulations.

Global expansion and infrastructure investments: Global expansion initiatives and investments in infrastructure development drive the demand for hazardous area equipment. Infrastructure projects, such as power plants, transportation networks, and industrial facilities, require hazardous area equipment to ensure safety and compliance with regulations in hazardous environments.

Market Snapshot:

Market Insights:

The global hazardous area equipment market is bifurcated into product, connectivity, end-use, and geography. On the basis of product, the market is further segmented into cable glands & accessories, process instruments, industrial controls, and others. The cable glands & accessories segment dominated the global market and accounted to hold the largest revenue share of around one-third percent of the market. The segment growth is attributed to the increasing importance in all process-oriented industries for equipment and environmental cabling purposes.

On the basis of end-use, the market is further segmented into oil & gas, chemical & pharma, food & beverage, and others. the oil and gas segment dominated the global hazardous area equipment market in 2020 and accounted to maintain its dominance over the forecast period. The continuous expansion of the oil & gas industry to fulfill the increasing demand is one of the major factor to drive the segment growth. Furthermore, stringent safety regulations and technological advancement are further anticipated to fuel the segment growth.

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The hazardous area equipment comprehensive study offers an in-depth analysis of industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The hazardous area equipment market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Cable Glands & Accessories
• Process Instruments
• Industrial Controls
• Motors
• Strobe Beacons
• Others

By Connectivity:

• Wireless
• Wired

By End-Use:

• Oil & Gas
• Chemical & Pharma
• Food & Beverage
• Energy & Power
• Mining
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the hazardous area equipment market report comprises dedicated sections centering on the regional market revenue and trends. The hazardous area equipment market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The hazardous area equipment market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Hazardous area equipment market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competitive Assessment

Some of the leading market players operating in the global hazardous area equipment market are Honeywell International, Inc., Eaton Corporation Plc, PATLITE Corporation, Siemens AG, and ABB Ltd. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Honeywell International, Inc.
• Eaton Corporation Plc
• PATLITE Corporation
• Siemens AG
• ABB Ltd.
• NHP Electric Engineering Products
• Emerson Electric Co
• E2S Warning Signals
• Rockwell Automation
• STAHL AG.

Key Questions Answered by Hazardous Area Equipment Market Report

• Global hazardous area equipment market forecasts from 2021-2027
• Regional hazardous area equipment market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the aforementioned regions
• Hazardous area equipment submarket forecasts from 2021-2027 covering the market by product, by connectivity, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis pertaining to hazardous area equipment market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level hazardous area equipment markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the hazardous area equipment market