New ARC Advisory Group research on the hazardous area automation equipment market reveals that the ever-increasing importance of the highest possible safety standards for explosion protection will create enough demand for standard/certified hazardous area automation products in the coming years.
“A minute spark in an oil & gas field, refinery plant, or chemical plant can cause large explosions and cause huge damage/loss of people, equipment, and to the environment. The hazardous area automation products and systems that are designed to prevent such huge losses will continue to grow but with small ups and downs due to the ebb and flow in global economic growth rates,” according to Naresh K. Surepelly, Senior Analyst at ARC Advisory Group and key author of ARC’s Hazardous Area Automation Equipment Global Market Research report.
“Other technologies such as the Industrial IoT are pushing change even faster. For example, these new disruptive technologies consist of field-mounted sensors and edge devices, internet technology, Cloud, and analytics capabilities. Space limitation in the control room is another driver for installing more and more components directly in the hazardous area,” according to Thomas Menze, Senior Consultant at ARC Advisory Group and co-author of the report.
About the Hazardous Area Automation Equipment Research
This ARC research explores current market performance and related technology and business trends, identifies leading technology suppliers, and provides five-year global forecasts for the hazardous area automation equipment market. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, plus five-year market forecasts by region, industry, revenue category, hardware type, explosion protection type, sales channels, and customers.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. These include a:
- Market Intelligence Workbook (Excel) - personalized spreadsheet includes one year of history plus the current base year market data and five-year market forecast. This workbook enables licensed users to freely manipulate the data to make it easier to analyze the latest data for business intelligence and generate custom reports.
- Concise Market Analysis Report (PDF) – provides an executive-level summary of the current market dynamics, market forecasts, and competitive analysis, plus an overview of strategic issues. The PDF is available with or without detailed charts.
For more information on this and other available ARC market research, please visit our Market Data & Studies section.