Hazardous Area Equipment Market Report: Trends, Forecast and Competitive Analysis to 2030

Hazardous Area Equipment Trends and Forecast

The future of the global hazardous area equipment market looks promising with opportunities in the oil & gas

chemical & pharmaceuticals, food & beverages, energy & power, and mining markets. The global hazardous area equipment market is expected to reach an estimated $16 billion by 2030 with a CAGR of 6.5% from 2024 to 2030. The major drivers for this market are swift expansion of industrialization and manufacturing sector, rising demand for safety measures equipment, and increasing government regulations mandating safety measures in hazardous industrial settings.

A more than 150-page report is developed to help in your business decisions.

Hazardous Area Equipment by Segment

The study includes a forecast for the global hazardous area equipment by product, end use, and region.

Hazardous Area Equipment Market by Product [Shipment Analysis by Value from 2018 to 2030]:

• Cable Glands & Accessories
• Measurement Devices
• Control Products
• Alarm Systems
• Motors
• Lighting Product

Hazardous Area Equipment Market by End Use [Shipment Analysis by Value from 2018 to 2030]:

• Oil & Gas
• Chemical & Pharmaceuticals
• Food & Beverages
• Energy & Power
• Mining
• Others

Hazardous Area Equipment Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Hazardous Area Equipment Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies hazardous area equipment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the hazardous area equipment companies profiled in this report include-

• ABB
• Siemens
• Eaton
• Rockwell Automation
• Honeywell
• Emerson Electric
• Patlite

Hazardous Area Equipment Market Insights

Lucintel forecasts that control products is expected to witness the higher growth over the forecast period due to the increasing installation of new facilities and expansion of current ones in process industries like oil & gas and chemical & pharmaceuticals.

North America is expected to witness highest growth over the forecast period due to sizable number of well-known mining and oil and gas sectors, both of which are extremely vulnerable to explosive conditions in this region.

Features of the Global Hazardous Area Equipment Market

Market Size Estimates: Hazardous area equipment market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Hazardous area equipment market size by product, end use, and region in terms of value ($B).

Regional Analysis: Hazardous area equipment market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product, end use, and regions for the hazardous area equipment market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the hazardous area equipment market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the hazardous area equipment market size?

Answer: The global hazardous area equipment market is expected to reach an estimated $16 billion by 2030.

Q2. What is the growth forecast for hazardous area equipment market?

Answer: The global hazardous area equipment market is expected to grow with a CAGR of 6.5% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the hazardous area equipment market?

Answer: The major drivers for this market are swift expansion of industrialization and manufacturing sector, rising demand for safety measures equipment, and increasing government regulations mandating safety measures in hazardous industrial settings.

Q4. What are the major segments for hazardous area equipment market?

Answer: The future of the global hazardous area equipment market looks promising with opportunities in the oil & gas

chemical & pharmaceuticals, food & beverages, energy & power, and mining markets.

Q5. Who are the key hazardous area equipment market companies?

Answer: Some of the key hazardous area equipment companies are as follows:

• ABB
• Siemens
• Eaton
• Rockwell Automation
• Honeywell
• Emerson Electric
• Patlite

Q6. Which hazardous area equipment market segment will be the largest in future?

Answer: Lucintel forecasts that control products is expected to witness the higher growth over the forecast period due to the increasing installation of new facilities and expansion of current ones in process industries like oil & gas and chemical & pharmaceuticals.

Q7. In hazardous area equipment market, which region is expected to be the largest in next 5 years?

Answer: North America is expected to witness highest growth over the forecast period due to sizable number of well-known mining and oil and gas sectors, both of which are extremely vulnerable to explosive conditions in this region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the hazardous area equipment market by product (cable glands & accessories, measurement devices, control products, alarm systems, motors, and lighting product), end use (oil & gas, chemical & pharmaceuticals, food & beverages, energy & power, mining, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?