Hazardous Area Equipment Market Size Worth $19.45 Billion By 2032 | CAGR: 6.5%

Hazardous Area Equipment Market Size Worth $19.45 Billion By 2032 | CAGR: 6.5%

The global hazardous area equipment market size is expected to reach USD 19.45 billion by 2032, according to a new study by Polaris market research. The report “Hazardous Area Equipment Market Share, Size, Trends, Industry Analysis Report, By Product (Cable Glands & Accessories, Process Instruments, Industrial Controls, Motors, Strobe Beacons, Others); By End Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Market offers a range of products designed for use in hazardous environments where there is a risk of fire or explosion. These environments may have flammable gases, fumes, dust, fires, or flying particles. The equipment provided by this market includes motors, lighting, industrial controls, cable glands, radars, strobe beacons, and more. Many industries, including oil and gas, chemical processing, mining, and pharmaceuticals, frequently operate in such hazardous environments. Therefore, it is critical to use specialized equipment that can withstand the risk of fire and explosions for employee safety and regulatory compliance purposes.

The chemical properties of different explosive atmospheres can affect the likelihood and severity of explosions. The demand for hazardous area equipment has increased due to the continued growth of industrial sectors worldwide. Additionally, hazardous area equipment is required due to the condition of the equipment in these areas and the need for cable glands in all constructions.

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To ensure worker safety and environmental protection in the oil and gas industry, governments worldwide have implemented stringent regulations. These regulations mandate the use of hazardous area equipment that meets specific standards, leading to a significant market for such equipment. Several companies in the Asia Pacific region are investing in research and development activities to develop new and innovative hazardous area equipment that can enhance safety and productivity in hazardous environments.

For instance, In February 2022, ABB introduced a new range of hazardous area motors, including IE2 & IE3 motors, to provide energy-efficient and reliable solutions for hazardous environments. ABB's new line of low-voltage flame-proof motors is made to be used safely. These motors are specifically designed to meet global standards for explosive atmospheres.

The COVID-19 pandemic has impacted the market, as it has affected most industrial sectors worldwide, leading to a reduction in demand and revenue losses in the market. Nevertheless, with increasing immunization rates and the global economy's rebound, the market for hazardous area equipment is expected to grow significantly during the assessment period.

Hazardous Area Equipment Market Report Highlights

  • The cable glands and accessories segment expected to hold highest shares of the market. The extensive use of flame-proof cable glands across numerous sectors is one of the main factors affecting the market.
  • The oil & gas segment holds the largest revenue share in 2022. The rising use of this equipment in the exploration and extraction of shale gas and oil is the key factor boosting the market for hazardous area equipment.
  • Asia Pacific is anticipated to grow at fastest rate over the forecast period. The primary reason is because of the region's increasing industrialization, which has led to a significant increase in hazardous area equipment across several industries, including oil and gas, chemicals, pharmaceuticals, and mining.
  • The global players with global presence include Potter Signal, E2S Warning Signals, Eaton Corporation, Emerson Electric, Rockwell Automation, Siemens, WERMA Signaltechnik, & ABB.

Polaris Market Research has segmented the Hazardous Area Equipment Market report based on product, end-user, and region:

Hazardous Area Equipment, Product Outlook (Revenue - USD Billion, 2019 - 2032)

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

Hazardous Area Equipment, End-User Outlook (Revenue - USD Billion, 2019 - 2032)

  • Oil & Gas
  • Chemicals & Pharma
  • Energy & Power
  • Mining
  • Others

Hazardous Area Equipment, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa