According to the latest report by IMARC Group, “Global Intrinsically Safe Equipment Market Growth, Share, Size, Industry Trends, Opportunity and Forecast 2022-2027“, the global intrinsically safe equipment market reached a value of US$ 3.02 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.6 Billion by 2027, exhibiting a CAGR of 7.10% during 2022-2027.
Intrinsically safe (IS) equipment represent the low-energy signaling equipment and wiring that are used for preventing explosions by limiting the electrical and thermal energy that cause ignition. They include detectors, sensors, isolators, switches, flashlights, gas detectors, transmitters, LED indicators, etc. IS equipment offer several benefits, such as reliability, optimal safety, flexibility, simple installation, etc. Intrinsically safe equipment help in safeguarding the environment and nearby places from explosions. They also eliminate the additional costs of installing explosive-proof enclosures.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Intrinsically Safe Equipment Market Trends and Drivers:
The integration of Fieldbus cables and input and output (I/O) cards is primarily driving the intrinsically safe equipment market across countries. Apart from this, the escalating cases of casualties and accidents across the oil and gas sector are further catalyzing the market growth.
Moreover, the widespread usage of safety switches for minimizing the risks of electric shocks, injuries, deaths, electricity-related fires, etc., is acting as another significant growth-inducing factor.
In addition to this, the inflating automation levels across various sectors are also propelling the need for intrinsically safe equipment. Besides this, the expanding automotive industry and the rising number of onshore and offshore exploration activities across the globe are anticipated to fuel the intrinsically safe equipment market over the forecasted period.
Request Free Sample Report: https://www.imarcgroup.com/intrinsically-safe-equipment-market/requestsample
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Intrinsically Safe Equipment Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Banner Engineering Corp., Bayco Products Inc., CorDEX Instruments, Eaton Corporation PLC, Fluke Corporation (Fortive Corporation), G.M. International s.r.l., Georgin, Honeywell International Inc., OMEGA Engineering Inc. (Spectris plc), Pepperl+Fuchs SE, R. Stahl AG, Rockwell Automation Inc. and Schneider Electric SE.
The report has segmented the market on the basis of region, product, zone, class and end user.
Breakup by Product:
- LED Indicators
Breakup by Zone:
- Zone 0
- Zone 20
- Also, Zone 1
- Zone 21
- And, Zone 2
- Zone 22
Breakup by Class:
- Class 1
- Class 2
- Also, Class 3
Breakup by End User:
- Oil and Gas
- Chemical and Petrochemical
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Continue Readings: Aluminum Hydroxide Market Report, Size & Growth 2022-27
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800