Increasing Industries with Hazardous Environment and Stringent Gov Regulatory Driving the Demand for Hazardous Area Equipment to Reach $12 billion by 2030

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A new report from Industry Experts Inc, on "Hazardous Area Equipment", is published. This report reveals that the reveals that the market for Hazardous Area Equipment is anticipated to register a CAGR of 6.2% between 2024 and 2030 in standing at a projected US$16.9 billion by 2030 from an estimated US$11.8 billion in 2024.

The worldwide demand for Hazardous Area Equipment is expected to maintain a robust growth over the analysis period owing to several reasons. These include implementation of stringent government regulatory safety measures in hazardous industrial environments to enable smooth functioning of operations & occupational safety of employees, adopting connected lighting solutions from traditional lighting systems for conserving energy and cost-effectiveness, technological advancements in manufacturing these devices for enhanced safety & efficiency and increasing number of industries with hazardous environment needing preventive equipment.

Asia-Pacific is estimated to be the largest, as also the fastest growing, region in the global market for Hazardous Area Equipment during the analysis period. This equipment is widely used in a variety of end-use sectors in the region. China and India are among the leading countries in Asia-Pacific for this Hazardous Area Equipment, owing to huge investments in petrochemicals and oil & gas ventures. For instance, Reliance Industries' Jamnagar, Gujarat-based facility is the world's largest oil & gas refinery, where this equipment has been widely used.

The report analyzes the global market for hazardous area equipment across major regions including North America (The United States, Canada and Mexico), Europe (France, Germany, Italy, Russia, Spain, The United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of Asia-Pacific), South America (Argentina, Brazil and Rest of South America) and Middle East & Africa.

Worldwide market for hazardous area equipment studied in this report with respect to Product Type – Cable Glands & Accessories, Electric Motors, Industrial Controls, Process Instruments, Strobe Beacons and Others (Incl. Alarm Systems, Control Panel Products, Explosion-Proof Enclosures, Gas Detectors, Lighting Products and Measurement Devices); End-Use Sector – Chemical & Pharmaceutical, Energy & Power, Food & Beverage, Mining, Oil & Gas and Others (Incl. Pulp & Paper, Water & Wastewater Treatment and Transportation).

About Industry Experts, Inc
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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