According to the new market research "Hazard
Control Market by Product (Motors, Servo Valves, Sensors and Actuators,
Drives), Protection (Flameproof, Intrinsic Safety), Industry (Oil & Gas,
Mining, Chemicals, Mills, Packaging), and Region - Global Forecast to
2022", The hazard control market is expected to grow from
an estimated USD 1.22 Billion in 2017 to USD 1.63 Billion by 2022, at a CAGR of
5.83%, from 2017 to 2022. The global market is set to witness a significant
growth due to stringent norms for industrial safety, development of
unconventional hydrocarbon resources, growing environmental concerns, and
growing concern for human resources safety in industries.
Browse 67 market data Tables and 33 Figures spread through 143
Pages and in-depth TOC on "Hazard Control Market - Global
Forecast to 2022"
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=261869100
The motors segment is expected to hold the largest share of the hazard
control market, by product type, during the forecast period.
The motors segment is expected to account for the largest
share of the product type segment, followed by the servo valves and sensors and
actuators segments. Motors are widely used across multiple applications in
equipment such as industrial fans, blowers, and pumps. Motors are can operate
in harsh working environments such as highly corrosive, dangerous environments,
potentially explosive atmospheres, and wet environments.
The intrinsic safety segment is expected to hold the largest share of
the hazard control market, by protection type, during the forecast period.
Intrinsically safe devices limit the available electrical
energy to non-incendive levels to avoid sparks and hotspots from short circuits
or failures which may lead to explosive atmospheres. Intrinsically safe devices
find widespread application across all industries and in all types of hazardous
division and zone classifications. The demand for intrinsically safe devices is
highest in Asia Pacific due to increasing industrialization in the region.
The North American market is expected to hold the largest share of the
hazard control market, by region, during the forecast period.
The North American market is driven by the development of
unconventional hydrocarbon resources such as shale gas and tight oil. Revamping
of the mining industry would also drive the growth of the hazard
control market in the region. Asia Pacific is projected to be
fastest-growing regional market due to increasing industrialization in emerging
economies such as India and China. According to the IEA, China is expected to
account for 280 billion cubic meters (bcm) of global natural gas demand by
2040. China will also overtake the US as the top oil consumer, by 2030, with
net imports of 13 million barrels per day (mb/d), by 2040.
The demand for crude oil would be driven by the
petrochemical and transportation sectors. In the transportation sector, diesel
is expected to be the key driving factor till 2040.
To enable an in-depth understanding of the competitive
landscape, the report includes the profiles of some of the top players in the
hazard control market. These include ABB (Switzerland), Eaton (Ireland),
Emerson (US), Schneider Electric (France), and Siemens (Germany). The leading
players are trying to understand the markets in developing economies and are
adopting various strategies to increase their market shares.
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MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: newsletter@marketsandmarkets.com
