Safety becomes vital in industries where there are burnable liquids, fibers, gases, vapors, or combustible dust. Such environments, known as hazardous areas, require specialized equipment that is designed to prevent sources of fire and reduce the risk of explosions. In this blog, we will unveil an understanding of hazardous area equipment and industry growth analysis.
According to statistics by Polaris Market Research, the global hazardous area equipment market was valued at USD 10.38 billion in 2022 and is expected to reach USD 19.45 billion by 20232 with a CAGR of 6.5% during the forecast period.
Hazardous Area Zone Classification determines the chances that a substance such as hazardous material, gas, or dust will be present in enough quantities to produce intensive or ignitable mixtures. Depending on the hazardous gas release grade, the hazardous area is classified into zones: Zone 0, Zone 1, and Zone 2. Based on the existence of combustible dust or ignitable fibers, there are three zones, Zone 20, Zone 21, and Zone 22.
The continued expansion of the industrial field, along with the requirement for cable glands in all constructions, is fueling the hazardous area equipment market demand. For instance, in March 2021, Basler AG introduced an embedded vision processing kit, which allows the connection of various camera types and includes a number of image processing ports. It provides verified drivers, user-friendly programming interfaces, and a wide selection of camera setup utilities.
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The hazardous area equipment market growth in Asia Pacific can be attributed to the rising demand for hazardous area equipment in various sectors, including oil & gas, pharmaceuticals, chemicals, and mining. The introduction of strict policies by the government in the Asia Pacific to secure workplaces and protect the environment is expected to enhance the market growth for hazardous area equipment. Furthermore, companies are employing advanced technologies and the latest equipment to protect their employees. For example, in October 2022, TDK Corporation unveiled the newest series of capacitors aimed at using hazardous environments, including oil and gas drilling rigs.
The COVID-19 pandemic has significantly affected most industrial industries globally, along with the hazardous area equipment market. During the pandemic, the market faced various challenges, like decreased demand and loss of revenue. However, with the global economy recovery and the rise in immunization rates, the market is predicted to show significant growth over the forecast period.
Summary to Remember
In summary, the hazardous area equipment market is essential for ensuring safer work environments while complying with safety regulations. By using these systems, various industries can secure their workforce and equipment while maintaining productivity and minimizing downtime.
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