Hazard Control Market Trends, Growth, & Key Business Strategies by Leading Industry
The
Hazard Control market size will grow from USD 1.24 Billion in 2017 to USD 1.75
Billion by 2023, at an estimated CAGR of 5.89%. The base year considered for
the study is 2017, and the market size is projected from 2018 to 2023.
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The Oil & gas industry is expected to account
for the largest share of the hazard control market during the forecast period.
Safety norms have been made stringent across all major oil & gas producing
regions, particularly North America and Europe. Incidents such as the Deepwater
Horizon oil spill in the US Gulf of Mexico have driven a new focus on safety,
environmental protection, and concern for human safety. The hazard control
market has been segmented, by protection type, into flameproof/explosion proof,
intrinsic safety, and others. The intrinsic safety segment is expected to be
the largest and fastest-growing segment. Intrinsically safe devices find
widespread application across all industries and in all types of hazardous
division and zone classifications. Increasing industrialization in Asia Pacific
will drive the demand for such devices during the forecast period.
By Market Players:
By Market Players:
Schneider
Electric , Siemens , Emerson , ABB , Rockwell ,
Eaton , Ametek , Magnetek , Mitsubishi Electric , BEI
Sensors , Bosch Rexroth , Bartec
By Product
By Product
Motors , Servo Valves , Sensors &
Actuators , Drives , Others
By Protection Type
By Protection Type
Intrinsic Safety , Flameproof/Explosion
Proof , Others
By Industry
By Industry
Oil & Gas , Metals & Mining ,
Chemicals & Pharmaceuticals , Mills (Flour & Grain) ,
Packaging
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data from 2018 to 2023.
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