Hazardous Area Equipment Market Size, Share, Opportunities, And Trends By Product (Cable Glands And Accessories, Process Instruments, Industrial Controls, Motors, Strobe Beacons, Lighting, Others), By Industry (Oil & Gas, Chemical & Pharmaceutical, Food & Beverages, Energy & Power, Mining, Others), By Connectivity Series (Wired, Wireless), And By Geography - Forecasts From 2024 To 2029

The hazardous area equipment market is expected to grow at a CAGR of 6.84% reaching a market size of US$13.789 billion in 2029 from US$8.677 billion in 2022.

Hazardous Area Equipment Market Trends:

The demand for hazardous area equipment has increased due to the increased focus on improving safety measures, particularly in the manufacturing and cooling industries. This market is expected to grow significantly over the projected period.

Equipment classified as hazardous areas is intended for use in extremely explosive environments resulting from the combination of flammable gases and combustible air particles. The requirements for safe equipment design, operation, and management are outlined in several umbrella schemes. Nonetheless, different countries have approached the standardization and testing of equipment for hazardous areas in different ways. There can be differences in the language used to describe risks and countermeasures. Such an atmosphere is common, or at least tenable, in a wide range of commercial, scientific, and industrial contexts. Protection against fire and explosions is crucial for worker safety and reliability.

Hazardous Area Equipment Market Drivers:

Rising technological innovations

It can be costly to install and operate systems and equipment in hazardous areas. On the other hand, the market for hazardous area equipment is witnessing a surge in technological innovation, resulting in the creation of more sophisticated and effective products that are dependable, long-lasting, and safer than conventional equipment. Adoption is being driven by this trend in several industries, specially manufacturing, where the use of hazardous materials and equipment is common. For example, Pepperl+Fuchs provides Ex e junction boxes for hazardous areas, offering a creative way to ensure connections are safe and secure. The junction boxes have many features that make installation and maintenance simple, and they are built to resist harsh environments and high temperatures.

Although wireless connectivity equipment is still used in automation solutions, its potential to catch fire and cause enormous damage is one of the major factors preventing the market from growing significantly on a global scale. This problem is impeding the hazardous area equipment market's expansion in several industries. Further obstacles to market growth include the expenses associated with implementing the various safety regulations that apply to different types of businesses.

Rising government initiatives

Every process-based industry, including those in the oil and gas, chemical and pharmaceutical, food and beverage, mining, energy and electricity, and so forth, is required to follow safety procedures globally. Installing effective and efficient hazardous area equipment, such as cable glands and accessories, measurement devices, control products, motors, lights, alarm systems, etc., is necessary to implement the aforementioned safety measures while enabling the above-mentioned industries' processes to run smoothly. Hazardous area equipment has been subject to a number of standards, including NFPA 497 and NFPA 499, ATEX, NEMA, IECEx, and UL, which specify the conditions for its installation, testing, and product quality.

Increased demand for explosion-proof area equipment

The increased emphasis on safety precautions in industries like process and cooling industries has also led to a growing demand for flame- and explosion-proof hazardous area equipment, such as industrial controllers, cable glands, motors, sensors, strobe beacons, lighting, and other related items. Hazardous area equipment demand is expected to rise significantly over the forecast period due to the growing emphasis on improving safety measures across a range of industries, particularly in the process and cooling sectors.

To avoid any possible hazards, the equipment used in the hazardous area is safely enclosed. Usually composed of durable materials like die-cast steel and occasionally plastic, these devices are robust. The enclosure successfully stops explosions if malfunctioning machinery produces heat.

High demand from oil & gas industry

Explosion proofing in the oil and gas industry has two requirements: equipment must be manufactured to the appropriate standards, as well as installed and maintained in accordance with additional standards. Employees in the oil and gas industry frequently have to work in hazardous environments. When there are significant amounts of flammable liquids, gases, vapours, or combustible dust present, safety becomes important. In the upcoming years, there will be a growing need for hazardous area equipment due to these requirements.

Many innovations are being introduced to the market to help customers with the daily maintenance, upkeep, optimization, and improvement of their assets. In addition, alternative electrical solutions are being offered to customers in more dangerous situations. Furthermore, it is anticipated that the need for hazardous area equipment will increase as a result of the discovery of oil reserves and impending investments in the exploration processes. According to the International Energy Agency, for example, global oil demand is expected to increase by 21% by 2040, accounting for 35% of all energy, and global demand for natural gas is expected to increase by 31% by 2040, accounting for 17% of all energy.

Hazardous Area Equipment Market Geographical Outlook:

North America is witnessing exponential growth during the forecast period

The North American region is anticipated to grow considerably under the Hazardous area equipment market. Growing industrial safety regulations, particularly in process sectors, and increased globalization will emerge as the main market growth drivers. The market value will be further harmed by the growing requirement to embrace worldwide safety and measurement standards, accelerating technical breakthroughs in the semiconductor industry, rising building and construction activity, particularly in developing nations, and widespread industrialization. The market will continue to expand as a result of rising costs for conducting research and development activities, escalating inspection, measurement, and quality control activities in various manufacturing industries, and rising demand for low-cost lighting solutions with high light output per watt.

Hazardous Area Equipment Industry Update:

• In May 2023, to expedite the development of next-generation electrification solutions, ABB Ltd. announced the opening of its USD 3 million Robert M. Thomas Innovation Center in Memphis, Tennessee.
• In August 2023, Automation Expo 2023 will feature Eaton Corporation PLC's new industrial solutions for hazardous areas, the company announced. It will introduce Smart Universal Marshalling (MTL SUM5) for industries like oil and gas, chemical processing, and wastewater treatment, as well as Ethernet over Coax (EoC) CCTV solution and nHLL linear LED fixture used in Zone 2 and 21 and 22 hazardous areas.

Hazardous Area Equipment Market Scope:

Segmentation:

• By Product
  • Cable Glands and Accessories
  • Process Instruments
  • Industrial Controls
  • Motors
  • Strobe Beacons
  • Lighting
  • Others
• By Industry
  • Oil & Gas
  • Chemical & Pharmaceutical
  • Food & Beverages
  • Energy & Power
  • Mining
  • Others
• By Connectivity Series
  • Wired
  • Wireless
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Israel
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Indonesia
    • Thailand
    • Others