Hazardous Area Equipment – A Global Market Overview

Hazardous Area Equipment – A Global Market Overview

Hazardous Area Equipment Market Trends and Outlook

Hazardous Area Equipment can be defined as electronic and electrical devices utilized in explosive environments that are extremely volatile due to combustible air-flammable gases or flammable vapors. Oil & gas, pharmaceuticals, food & beverage, chemical and mining are a few common sectors that produce flammable gases and other harmful combustible materials during their operations, which are of significant concern for humans, as well as the machines being operated. The application of this equipment is helpful in mitigating risk of explosion, reducing surface temperature, safeguarding circuits in an explosive environment, providing intrinsic safety and signaling various types of forthcoming dangers in industrial settings. With fast growing industrialization and transformation in developing countries, there is a high demand for deploying hazardous area equipment in industrial areas as safety measures to avert any untoward casualties and damages.

Worldwide, the market for Hazardous Area Equipment is anticipated to register a CAGR of 6.2% between 2024 and 2030 in standing at a projected US$16.9 billion by 2030 from an estimated US$11.8 billion in 2024.

The worldwide demand for Hazardous Area Equipment is expected to maintain a robust growth over the analysis period owing to several reasons. These include implementation of stringent government regulatory safety measures in hazardous industrial environments to enable smooth functioning of operations & occupational safety of employees, adopting connected lighting solutions from traditional lighting systems for conserving energy and cost-effectiveness, technological advancements in manufacturing these devices for enhanced safety & efficiency and increasing number of industries with hazardous environment needing preventive equipment.

Hazardous Area Equipment Regional Market Analysis

Asia-Pacific is estimated to be the largest, as also the fastest growing, region in the global market for Hazardous Area Equipment during the analysis period. This equipment is widely used in a variety of end-use sectors in the region. China and India are among the leading countries in Asia-Pacific for this Hazardous Area Equipment, owing to huge investments in petrochemicals and oil & gas ventures. For instance, Reliance Industries' Jamnagar, Gujarat-based facility is the world's largest oil & gas refinery, where this equipment has been widely used. Furthermore, the Asia-Pacific region has made more investments in the manufacturing sector relative to other regions, according to World Bank reports. The region's fast industrialization has led to an increase in demand for Hazardous Area Equipment across a number of other industries, including mining and pharmaceuticals. Stringent guidelines have been put in place by governments throughout the region to guarantee workers' safety and preserve the environment.

Hazardous Area Equipment Market Analysis by Product Type

On the basis of product type, the global Hazardous Area Equipment market is segmented into Cable Glands & Accessories, Electric Motors, Industrial Controls, Process Instruments, Strobe Beacons and Others (Inc. Alarm Systems, Control Panel Products, Explosion-Proof Enclosures, Gas Detectors, Lighting Products and Measurement Devices). Within these, Cable Glands & Accessories are estimated to be the largest revenue shareholder in the global market for Hazardous Area Equipment. Major factors for this include extensive usage of flame-proof cable glands in various industries for preserving explosion protection and ingress features, in addition to securing cables fastened to enclosures. Additionally, these are employed in outdoor settings or hazardous environments to prevent equipment from electrical sparks and external pollutants, such as rain, grime and dust. Cable Glands & Accessories are also capable of preventing wires from twisting, tearing and pulling for ensuring better connectivity and reliability. Due to mechanical retention, strain relief and ground continuity, this product has a growing presence in all process-oriented industries and for eco-friendly cabling applications.

Hazardous Area Equipment Market Analysis by End-Use Sector

The Oil & Gas industry has established a leading position in the global market for Hazardous Area Equipment as regards end-use sector. Such equipment is mandatory in this sector for preventing exposure to personnel from dangers of fire or explosion arising from the presence of flammable gases, combustible liquid-produced vapors, combustible dusts or airborne ignitable fibers/flying particles present in quantities sufficient enough to produce explosive mixtures that may ignite when exposed to extreme pressure and temperature conditions. Hazardous Area Equipment is used in a variety of industrial settings to maintain worker safety and as a vital component of emergency management systems. Many innovations are being introduced to the market for assisting customers with daily maintenance, upkeep, optimization and improvement of their equipment. Further driving the need for more oil and gas exploration procedures is the growing demand for crude oil and finished oils, such as heating oil and diesel fuel in the automotive, energy, machinery manufacturing, power, chemicals and metallurgy sectors.

Hazardous Area Equipment Market Report Scope

This global report on Hazardous Area Equipment analyzes the market based on product type and end-use sector, in addition to providing profiles of major companies operating in this space, the latest corporate and industrial developments have been covered to offer a clear panorama of how and where the market is progressing.

Key Metrics
• Historical Period: 2021-2023
• Base Year: 2023
• Forecast Period: 2024-2030
• Units: Value market in US$
• Companies Mentioned: 20+

Hazardous Area Equipment Market by Geographic Region
• North America (including The United States, Canada and Mexico)
• Europe (Including France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe)
• Asia-Pacific (Including China, Japan, India, South Korea and Rest of Asia-Pacific)
• South America (Including Argentina, Brazil and Rest of South America)
• Middle East & Africa

Hazardous Area Equipment Market by Product Type
• Cable Glands & Accessories
• Electric Motors
• Industrial Controls
• Process Instruments
• Strobe Beacons
• Others (Incl. Alarm Systems, Control Panel Products, Explosion-Proof Enclosures, Gas Detectors, Lighting Products and Measurement Devices)

Hazardous Area Equipment Market by End-Use Sector

o Chemical & Pharmaceutical

o Energy & Power

o Food & Beverage

o Mining

o Oil & Gas

o Others (Incl. Pulp & Paper, Water & Wastewater Treatment and Transportation)

Please note: Delivery Timelines - 3-4 working days.